1948 W Wayzata Blvd #103Long LakeMN55356
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 1948 W Wayzata Blvd #103, Long Lake, MN, 55356 in Long Lake achieves a 1.80 ratio at $241,702: $1,956/mo rent versus $1,087/mo debt service. Rental yield 9.71%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 9.71% yield compounds alongside 5% annual appreciation projecting $66,778 in value.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 6.0% |
| Monthly Cash Flow | $(1,782) | $400 |
City averages based on Long Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,956 |
| Total Monthly Debt Service | $3,642 |
| DSCR Ratio | 0.54x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2023
2.10 Acres lot
$N/A/sqft
$2,229 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55356, Long Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,401 (100%) |
| Owner Occupied HU | 1,816 (75.6%) |
| Renter Occupied HU | 403 (16.8%) |
| Vacant Housing Units | 182 ( 7.6%) |
| Median Home Value | $821,163 |
| Average Home Value | $955,650 |
Housing Distribution
Address Breakdown
Residential
2,418
Single Family
2,164
Multi-Family
254
Businesses
277
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
Condo
Built in 2023
2.10 Acres lot
$N/A/sqft
$2,229 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55356, Long Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,401 (100%) |
| Owner Occupied HU | 1,816 (75.6%) |
| Renter Occupied HU | 403 (16.8%) |
| Vacant Housing Units | 182 ( 7.6%) |
| Median Home Value | $821,163 |
| Average Home Value | $955,650 |
Housing Distribution
Address Breakdown
Residential
2,418
Single Family
2,164
Multi-Family
254
Businesses
277
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices