232 Main St ERichmondMN56368
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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 Richmond at 232 Main St E, Richmond, MN, 56368 offers a 9.28% rental yield on a $229,500 purchase with $1,774/mo rent. Total monthly income registers $1,774/mo, and a $1,123/mo payment leaves $341/mo available for distribution. Annual cash flow reaches $4,094/yr on $76,079 to close, and return on cash invested stands at 25.29% in year one. Equity gained on principal adds $1,481/yr while 5% annual appreciation supports $63,407 over five years. Portfolio math shows five-year ROI at 131.82% and total cumulative return in cash at $100,290. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,774/mo property income against a $1,123/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1959
0.24 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56368, Richmond, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,441 (100%) |
| Owner Occupied HU | 1,601 (65.6%) |
| Renter Occupied HU | 169 ( 6.9%) |
| Vacant Housing Units | 671 (27.5%) |
| Median Home Value | $378,660 |
| Average Home Value | $441,073 |
Housing Distribution
Address Breakdown
Residential
1,624
Single Family
1,604
Multi-Family
20
Businesses
107
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