16008 Discovery CirPark RapidsMN56470
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Park Rapids at 16008 Discovery Cir, Park Rapids, MN, 56470 offers a 8.33% rental yield on a $219,800 purchase with $1,526/mo rent. Total monthly income registers $1,526/mo, and a $1,076/mo payment leaves $153/mo available for distribution. Annual cash flow reaches $1,839/yr on $72,864 to close, and return on cash invested stands at 22.43% in year one. Equity gained on principal adds $1,418/yr while 5% annual appreciation supports $60,727 over five years. Portfolio math shows five-year ROI at 116.5% and total cumulative return in cash at $84,884. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,526/mo property income against a $1,076/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1970
0.48 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56470, Park Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,740 (100%) |
| Owner Occupied HU | 3,454 (44.6%) |
| Renter Occupied HU | 1,309 (16.9%) |
| Vacant Housing Units | 2,977 (38.5%) |
| Median Home Value | $326,377 |
| Average Home Value | $407,613 |
Housing Distribution
Address Breakdown
Residential
5,787
Single Family
5,077
Multi-Family
710
Businesses
542
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Mead • eXp Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6798130