248 Kingsway DrNorth MankatoMN56003
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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 North Mankato at 248 Kingsway Dr, North Mankato, MN, 56003 offers $975/mo rent that, after a $631/mo payment, leaves $170/mo cash flow. Total monthly income is $975/mo, and annual cash flow is $2,040/yr on $42,730 cash. Return on cash invested measures 24.68% in year one, and rental yield stands at 9.08% at a $128,900 entry. Equity gained on principal adds $832/yr while 5% annual appreciation compounds into $35,613 by year five. Five-year ROI records 128.49% and total cumulative return in cash reaches $54,905. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $975/mo property income versus a $631/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 2020
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56003, Mankato, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,697 (100%) |
| Owner Occupied HU | 4,584 (68.4%) |
| Renter Occupied HU | 1,784 (26.6%) |
| Vacant Housing Units | 329 ( 4.9%) |
| Median Home Value | $284,171 |
| Average Home Value | $343,042 |
Housing Distribution
Address Breakdown
Residential
6,662
Single Family
5,293
Multi-Family
1,369
Businesses
279
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Listed by: Deborah Rezac • Camelot/Avalon Estates
Mls Name: My State MLS
Mls ID: #11411661