227 Lake Ave NSpicerMN56288
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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 Spicer at 227 Lake Ave N, Spicer, MN, 56288 generates $1,357/mo in rent, after a $3,377/mo payment. Total monthly income is $1,357/mo. Return on cash invested sits at 4.46% in year one, and rental yield is 2.36% on a $690,000 entry. Equity gained on principal adds $4,452/yr, while 5% annual appreciation builds toward $190,634 over five years. Five-year ROI reaches 20.03% and total cumulative return in cash sums $45,476. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,357/mo property income rather than buyer’s personal income.
Single Family
Built in 1927
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56288, Spicer, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,839 (100%) |
| Owner Occupied HU | 1,640 (57.8%) |
| Renter Occupied HU | 315 (11.1%) |
| Vacant Housing Units | 884 (31.1%) |
| Median Home Value | $443,939 |
| Average Home Value | $537,343 |
Housing Distribution
Address Breakdown
Residential
2,193
Single Family
2,086
Multi-Family
107
Businesses
140
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