24942 County Highway 6Detroit LakesMN56501
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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 Detroit Lakes at 24942 County Highway 6, Detroit Lakes, MN, 56501 listed at $295,000 pairs $2,001/mo rent with a $1,444/mo payment to leave $159/mo cash flow. Total monthly income runs $2,001/mo, and annual cash flow reaches $1,905/yr on $97,793 cash to close. Return on cash invested measures 21.86% in year one, and rental yield registers 8.14% at a $295,000 basis. Equity gained on principal adds $1,904/yr, and annual property appreciation at 5% supports $81,503 by year five. Five-year ROI tracks 113.37% and total cumulative return in cash totals $110,870. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,001/mo property income relative to a $1,444/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1977
5.20 Acres 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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Nearby investment properties with comparable prices
Listed by: Steven Larson • Coldwell Banker At The Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6762786