232 1st Ave NWNew LondonMN56273
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
Investment Highlights
Rental property for sale in New London at 232 1st Ave NW, New London, MN, 56273 priced at $169,900 pairs $1,346/mo rent with $285/mo cash flow after a $832/mo payment. Total monthly income equals $1,346/mo, and annual cash flow comes to $3,416/yr on $56,322 invested. Return on cash invested is 25.97% in year one, and rental yield stands at 9.51% on a $169,900 basis. Equity gained on principal adds $1,096/yr, and 5% annual appreciation accumulates to $46,940 by year five. Five-year ROI measures 135.47% and total cumulative return in cash reaches $76,298. For financing, Ziffy Mortgage’s DSCR program evaluates $1,346/mo property income against a $832/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1904
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56273, New London, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,535 (100%) |
| Owner Occupied HU | 1,809 (71.4%) |
| Renter Occupied HU | 265 (10.5%) |
| Vacant Housing Units | 461 (18.2%) |
| Median Home Value | $388,316 |
| Average Home Value | $476,165 |
Housing Distribution
Address Breakdown
Residential
1,996
Single Family
1,874
Multi-Family
122
Businesses
155
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Listed by: Frances M. Altman • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6755154