23620 S Melissa DrDetroit LakesMN56501
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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 Detroit Lakes at 23620 S Melissa Dr, Detroit Lakes, MN, 56501 earns from $1,499/mo rent with a $5,613/mo payment. Total monthly income totals $1,499/mo. ROI tracks 2.08% on current figures, and rental yield reads 1.57% at a $1,146,700 purchase. Equity gained on principal adds $7,399/yr, and 5% annual appreciation supports $316,812 over five years. Five-year ROI reaches 7.22% and total cumulative return in cash sums $26,813. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,499/mo property income instead of your personal income.
Single Family
Built in 1945
N/A 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: N/A • N/A
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