244 E 3rd StKnife RiverMN55609
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe 7.62% yield at 244 E 3rd St, Knife River, MN, 55609 in Knife River is solid, but the $2,158/mo payment compresses net cash flow to $51/mo at $480,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $132,615 by year five, and $4,421/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.41) without U.S. income documentation. Total projected return: $185,399.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.6% | 6.5% |
| Monthly Cash Flow | $51 | $400 |
City averages based on Knife River market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,048 |
| Total Monthly Debt Service | $2,806 |
| DSCR Ratio | 1.09x |
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.
Single Family
Built in 1905
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55609, Knife River, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | |
| Owner Occupied HU | |
| Renter Occupied HU | |
| Vacant Housing Units | |
| Median Home Value | |
| Average Home Value |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
21
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
Single Family
Built in 1905
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55609, Knife River, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | |
| Owner Occupied HU | |
| Renter Occupied HU | |
| Vacant Housing Units | |
| Median Home Value | |
| Average Home Value |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
21
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Deanna Bennett • Messina & Associates Real Estate
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119877
Disclaimer: Information is supplied by seller and other third parties and has not been verified. Open House information is subject to change without notice. Copyright 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.