1609 SE 3rd AveGrand RapidsMN55744
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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 Grand Rapids at 1609 SE 3rd Ave, Grand Rapids, MN, 55744 listed at $359,900 pairs $2,383/mo rent with a $1,762/mo payment to leave $135/mo cash flow. Total monthly income runs $2,383/mo, and annual cash flow reaches $1,622/yr on $119,307 cash to close. Return on cash invested measures 21.27% in year one, and rental yield registers 7.95% at a $359,900 basis. Equity gained on principal adds $2,322/yr, and annual property appreciation at 5% supports $99,434 by year five. Five-year ROI tracks 110.24% and total cumulative return in cash totals $131,522. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,383/mo property income relative to a $1,762/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2000
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55744, Grand Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,024 (100%) |
| Owner Occupied HU | 6,248 (62.3%) |
| Renter Occupied HU | 2,270 (22.6%) |
| Vacant Housing Units | 1,506 (15.0%) |
| Median Home Value | $288,056 |
| Average Home Value | $348,710 |
Housing Distribution
Address Breakdown
Residential
9,649
Single Family
8,369
Multi-Family
1,280
Businesses
945
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Nearby investment properties with comparable prices
Listed by: Neil Seledic • SCENIC NORTH PROPERTIES
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6600078
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