21312 State Highway 22 UNIT 16RichmondMN56368
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
Investment Highlights
Investment property for sale in Richmond at 21312 State Highway 22 UNIT 16, Richmond, MN, 56368 offers a 10.12% rental yield on a $120,000 purchase with $1,012/mo rent. Total monthly income registers $1,012/mo, and a $587/mo payment leaves $180/mo available for distribution. Annual cash flow reaches $2,156/yr on $39,780 to close, and return on cash invested stands at 25.33% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,154 over five years. Portfolio math shows five-year ROI at 132.9% and total cumulative return in cash at $52,867. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,012/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1955
3,920 sqft lot
$N/A/sqft
$1,000 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56368, Richmond, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,601 (65.6%) |
| Renter Occupied HU | 169 ( 6.9%) |
| Vacant Housing Units | 671 (27.5%) |
| Median Home Value | $378,660 |
| Average Home Value | $441,073 |
Housing Distribution
Address Breakdown
Residential
1,624
Single Family
1,604
Multi-Family
20
Businesses
107
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kyle D Thompson • Property People Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6679194
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-28 04:53:10 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#28) By searching NorthstarMLS listings you agree to the [NorthstarMLS End User License Agreement](https://www.mlsgrid.com/s/RMLS-EULA.pdf)