244 Phelps St EOwatonnaMN55060
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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
Rental property for sale in Owatonna at 244 Phelps St E, Owatonna, MN, 55060 offers $2,160/mo rent that, after a $945/mo payment, leaves $904/mo cash flow. Total monthly income is $2,160/mo, and annual cash flow is $10,847/yr on $63,980 cash. Return on cash invested measures 36.86% in year one, and rental yield stands at 13.43% at a $193,000 entry. Equity gained on principal adds $1,245/yr while 5% annual appreciation compounds into $53,322 by year five. Five-year ROI records 194.19% and total cumulative return in cash reaches $124,242. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,160/mo property income versus a $945/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1906
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55060, Owatonna, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,775 (100%) |
| Owner Occupied HU | 8,880 (69.5%) |
| Renter Occupied HU | 3,208 (25.1%) |
| Vacant Housing Units | 687 ( 5.4%) |
| Median Home Value | $270,032 |
| Average Home Value | $312,015 |
Housing Distribution
Address Breakdown
Residential
12,408
Single Family
10,414
Multi-Family
1,994
Businesses
1,010
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Listed by: Jason Young • eXp Realty
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6574621
Disclaimer: Based on information submitted to the MLS GRID as of 2024-10-15 12:26:39 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)