205 2nd St NNew SalemND58563
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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 New Salem at 205 2nd St N, New Salem, ND, 58563 offers a 3.1% rental yield on a $279,000 purchase with $720/mo rent. 21% in year one. Equity gained on principal adds $1,800/yr while 5% annual appreciation supports $77,083 over five years. Portfolio math shows five-year ROI at 34.64% and total cumulative return in cash at $32,035. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $720/mo property income against a $1,366/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1966
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58563, New Salem, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 962 (100%) |
| Owner Occupied HU | 688 (71.5%) |
| Renter Occupied HU | 110 (11.4%) |
| Vacant Housing Units | 164 (17.0%) |
| Median Home Value | $226,768 |
| Average Home Value | $288,899 |
Housing Distribution
Address Breakdown
Residential
666
Single Family
625
Multi-Family
41
Businesses
58
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Listed by: MITCHELL GRADE • NEXTHOME LEGENDARY PROPERTIES
Mls Name: Great North MLS
Mls ID: #4021022