2262 Edgewood DrDetroit LakesMN56501
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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 Detroit Lakes at 2262 Edgewood Dr, Detroit Lakes, MN, 56501 listed at $549,900 pairs $2,801/mo rent with a $2,691/mo payment. Total monthly income runs $2,801/mo. Return on cash invested measures 15.87% in year one, and rental yield registers 6.11% at a $549,900 basis. Equity gained on principal adds $3,548/yr, and annual property appreciation at 5% supports $151,927 by year five. Five-year ROI tracks 81.21% and total cumulative return in cash totals $146,918. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,801/mo property income relative to a $2,691/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2006
0.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56501, Detroit Lakes, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,550 (100%) |
| Owner Occupied HU | 5,565 (52.7%) |
| Renter Occupied HU | 2,196 (20.8%) |
| Vacant Housing Units | 2,789 (26.4%) |
| Median Home Value | $357,335 |
| Average Home Value | $436,261 |
Housing Distribution
Address Breakdown
Residential
8,830
Single Family
7,427
Multi-Family
1,403
Businesses
614
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Listed by: Dan Coombe • Raboin Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7005270