16293 60th Ave NW #3Cass LakeMN56633
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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 Cass Lake at 16293 60th Ave NW #3, Cass Lake, MN, 56633 uses $75,914 cash to close to unlock $5,266/yr annual cash flow and $439/mo monthly cash flow. Total monthly income runs $1,924/mo, and a $1,121/mo payment keeps the spread at $439/mo. Purchase price stands at $229,000, and rental yield measures 10.08% with $1,924/mo rent. Return on cash invested shows 26.85% in year one, and 5% annual appreciation builds toward $63,268 over five years. Five-year ROI reaches 140.42% and total cumulative return in cash records $106,601. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,924/mo property income covering a $1,121/mo payment rather than investor’s personal income.
Manufactured
Built in 1993
N/A lot
$N/A/sqft
$55 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56633, Cass Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,284 (100%) |
| Owner Occupied HU | 1,084 (47.5%) |
| Renter Occupied HU | 486 (21.3%) |
| Vacant Housing Units | 714 (31.3%) |
| Median Home Value | $278,846 |
| Average Home Value | $310,085 |
Housing Distribution
Address Breakdown
Residential
1,397
Single Family
1,345
Multi-Family
52
Businesses
122
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