1948 W Wayzata Blvd #211Long LakeMN55356
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1948 W Wayzata Blvd #211, Long Lake, MN, 55356 in Long Lake carries a 2.29 coverage ratio, rent of $2,503/mo is 2.29 times the $1,092/mo payment. Rental yield 12.37%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $242,738 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $67,064; total projected cumulative return: $21,893.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.4% | 6.0% |
| Monthly Cash Flow | $(1,242) | $400 |
City averages based on Long Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,503 |
| Total Monthly Debt Service | $3,648 |
| DSCR Ratio | 0.69x |
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