2204 7th Ave NGrand ForksND58203
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 2204 7th Ave N, Grand Forks, ND, 58203 in Grand Forks at $249,500 earns $1,650/mo in rent and nets $132/mo after the $1,122/mo payment, a 7.94% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $68,932 over five years. Ziffy Mortgage underwrites this on a 1.47 DSCR without U.S. credit history. With $2,298/yr in principal paydown, total projected return reaches $102,965.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.2% |
| Monthly Cash Flow | $132 | $450 |
City averages based on Grand Forks market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,650 |
| Total Monthly Debt Service | $1,419 |
| DSCR Ratio | 1.16x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1959
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58203, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,325 (100%) |
| Owner Occupied HU | 3,013 (36.2%) |
| Renter Occupied HU | 4,169 (50.1%) |
| Vacant Housing Units | 1,143 (13.7%) |
| Median Home Value | $211,585 |
| Average Home Value | $226,882 |
Housing Distribution
Address Breakdown
Residential
7,267
Single Family
4,816
Multi-Family
2,451
Businesses
625
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
Single Family
Built in 1959
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58203, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,325 (100%) |
| Owner Occupied HU | 3,013 (36.2%) |
| Renter Occupied HU | 4,169 (50.1%) |
| Vacant Housing Units | 1,143 (13.7%) |
| Median Home Value | $211,585 |
| Average Home Value | $226,882 |
Housing Distribution
Address Breakdown
Residential
7,267
Single Family
4,816
Multi-Family
2,451
Businesses
625
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Cindy Jo Adams • Greenberg Realty
Mls Name: GFBMLS
Mls ID: #25-1071