2201 3rd Ave S APT 206MinneapolisMN55404
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 2201 3rd Ave S APT 206, Minneapolis, MN, 55404 in Minneapolis is the 1.67 coverage ratio: rent of $850/mo versus a $508/mo debt payment on a $113,000 property. Rental yield 9.03%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $31,220 by year five, with $1,041/yr in equity from paydown. Total projected cumulative return: $27,962.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 4.8% |
| Monthly Cash Flow | $(259) | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $850 |
| Total Monthly Debt Service | $1,064 |
| DSCR Ratio | 0.80x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1951
0.27 Acres lot
$N/A/sqft
$384 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55404, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,822 (100%) |
| Owner Occupied HU | 1,900 (12.8%) |
| Renter Occupied HU | 11,810 (79.7%) |
| Vacant Housing Units | 1,112 ( 7.5%) |
| Median Home Value | $382,258 |
| Average Home Value | $436,368 |
Housing Distribution
Address Breakdown
Residential
14,495
Single Family
2,085
Multi-Family
12,410
Businesses
807
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
Condo
Built in 1951
0.27 Acres lot
$N/A/sqft
$384 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55404, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,822 (100%) |
| Owner Occupied HU | 1,900 (12.8%) |
| Renter Occupied HU | 11,810 (79.7%) |
| Vacant Housing Units | 1,112 ( 7.5%) |
| Median Home Value | $382,258 |
| Average Home Value | $436,368 |
Housing Distribution
Address Breakdown
Residential
14,495
Single Family
2,085
Multi-Family
12,410
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: John P Bjork • HomeAvenue Inc
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6557235
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