2303 Lake AveNew UlmMN56073
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 2303 Lake Ave, New Ulm, MN, 56073 in New Ulm speaks for itself: 10.1% gross on a $239,900 price, generating $2,020/mo in rent and $522/mo in net income after the $1,079/mo debt service. DSCR 1.87, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,258 stacks alongside $66,280 in projected five-year appreciation and $2,210/yr in principal reduction. Projected total cumulative return: $124,653.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 6.0% |
| Monthly Cash Flow | $522 | $350 |
City averages based on New Ulm market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,020 |
| Total Monthly Debt Service | $1,403 |
| DSCR Ratio | 1.44x |
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.
Condo
Built in 2024
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56073, New Ulm, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,755 (100%) |
| Owner Occupied HU | 5,599 (72.2%) |
| Renter Occupied HU | 1,724 (22.2%) |
| Vacant Housing Units | 432 ( 5.6%) |
| Median Home Value | $237,607 |
| Average Home Value | $276,836 |
Housing Distribution
Address Breakdown
Residential
7,563
Single Family
6,236
Multi-Family
1,327
Businesses
600
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 2024
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56073, New Ulm, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,755 (100%) |
| Owner Occupied HU | 5,599 (72.2%) |
| Renter Occupied HU | 1,724 (22.2%) |
| Vacant Housing Units | 432 ( 5.6%) |
| Median Home Value | $237,607 |
| Average Home Value | $276,836 |
Housing Distribution
Address Breakdown
Residential
7,563
Single Family
6,236
Multi-Family
1,327
Businesses
600
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices