2240 Ridge Dr APT 13Saint 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 2240 Ridge Dr APT 13, Saint Louis Park, MN, 55416 listed at $180,000 pairs $1,499/mo rent with a $881/mo payment to leave $375/mo cash flow. Total monthly income runs $1,499/mo, and annual cash flow reaches $4,500/yr on $59,670 cash to close. Return on cash invested measures 27.45% in year one, and rental yield registers 9.99% at a $180,000 basis. Equity gained on principal adds $1,162/yr, and annual property appreciation at 5% supports $49,731 by year five. Five-year ROI tracks 143.34% and total cumulative return in cash totals $85,529. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,499/mo property income relative to a $881/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1983
N/A 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: Leslie Gerkin • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7004950