216 E 2nd StFairmontMN56031
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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 Fairmont at 216 E 2nd St, Fairmont, MN, 56031 generates $720/mo in rent, after a $636/mo payment. Total monthly income is $720/mo. Return on cash invested sits at 17.36% in year one, and rental yield is 6.65% on a $130,000 entry. Equity gained on principal adds $839/yr, while 5% annual appreciation builds toward $35,917 over five years. Five-year ROI reaches 89.28% and total cumulative return in cash sums $38,475. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $720/mo property income rather than buyer’s personal income.
Multi Family
Built in 1929
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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