2422 Garfield St NEMinneapolisMN55418
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
Investment property for sale in Minneapolis at 2422 Garfield St NE, Minneapolis, MN, 55418 uses $139,230 cash to close to unlock $6,768/yr annual cash flow and $564/mo monthly cash flow. Total monthly income runs $3,187/mo, and a $2,056/mo payment keeps the spread at $564/mo. Purchase price stands at $420,000, and rental yield measures 9.11% with $3,187/mo rent. Return on cash invested shows 24.77% in year one, and 5% annual appreciation builds toward $116,038 over five years. Five-year ROI reaches 128.97% and total cumulative return in cash records $179,563. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,187/mo property income covering a $2,056/mo payment rather than investor’s personal income.
Single Family
Built in 1915
0.14 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55418, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,851 (100%) |
| Owner Occupied HU | 8,755 (59.0%) |
| Renter Occupied HU | 5,369 (36.2%) |
| Vacant Housing Units | 727 ( 4.9%) |
| Median Home Value | $369,763 |
| Average Home Value | $424,893 |
Housing Distribution
Address Breakdown
Residential
14,467
Single Family
11,390
Multi-Family
3,077
Businesses
908
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael P Gacek • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6785522