2060 Ridge Dr APT 16Saint Louis ParkMN55416
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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 Saint Louis Park at 2060 Ridge Dr APT 16, Saint Louis Park, MN, 55416 earns $125/mo cash flow from $1,530/mo rent with a $1,101/mo payment. Total monthly income totals $1,530/mo, and annual cash flow totals $1,503/yr on $74,588 capital. ROI tracks 21.92% on current figures, and rental yield reads 8.16% at a $225,000 purchase. Equity gained on principal adds $1,452/yr, and 5% annual appreciation supports $62,163 over five years. Five-year ROI reaches 113.77% and total cumulative return in cash sums $84,861. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,530/mo property income instead of your personal income.
Condo
Built in 1981
2.95 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55416, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,342 (100%) |
| Owner Occupied HU | 8,308 (40.8%) |
| Renter Occupied HU | 10,114 (49.7%) |
| Vacant Housing Units | 1,920 ( 9.4%) |
| Median Home Value | $532,918 |
| Average Home Value | $587,316 |
Housing Distribution
Address Breakdown
Residential
19,078
Single Family
8,037
Multi-Family
11,041
Businesses
1,288
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Listed by: Christa M Thompson • Lakes Sotheby's International Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6777144