204 Willow St WDetroit LakesMN56501
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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
Rental property for sale in Detroit Lakes at 204 Willow St W, Detroit Lakes, MN, 56501 offers $1,747/mo rent that, after a $1,248/mo payment, leaves $155/mo cash flow. Total monthly income is $1,747/mo, and annual cash flow is $1,859/yr on $84,499 cash. Return on cash invested measures 22.11% in year one, and rental yield stands at 8.22% at a $254,900 entry. Equity gained on principal adds $1,645/yr while 5% annual appreciation compounds into $70,424 by year five. Five-year ROI records 114.7% and total cumulative return in cash reaches $96,924. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,747/mo property income versus a $1,248/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1953
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56501, Detroit Lakes, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,550 (100%) |
| Owner Occupied HU | 5,565 (52.7%) |
| Renter Occupied HU | 2,196 (20.8%) |
| Vacant Housing Units | 2,789 (26.4%) |
| Median Home Value | $357,335 |
| Average Home Value | $436,261 |
Housing Distribution
Address Breakdown
Residential
8,830
Single Family
7,427
Multi-Family
1,403
Businesses
614
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Listed by: Jordan Hinkle • Hinkle Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6771275