2639 Colfax Ave S APT 1MinneapolisMN55408
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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
Investment property for sale in Minneapolis at 2639 Colfax Ave S APT 1, Minneapolis, MN, 55408 uses $41,935 cash to close to unlock $3,666/yr annual cash flow and $306/mo monthly cash flow. Total monthly income runs $1,543/mo, and a $619/mo payment keeps the spread at $306/mo. Purchase price stands at $126,500, and rental yield measures 14.64% with $1,543/mo rent. Return on cash invested shows 28.65% in year one, and 5% annual appreciation builds toward $34,950 over five years. Five-year ROI reaches 154.52% and total cumulative return in cash records $64,796. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,543/mo property income covering a $619/mo payment rather than investor’s personal income.
Apartment
Built in 1960
10,298 sqft lot
$N/A/sqft
$420 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55408, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,715 (100%) |
| Owner Occupied HU | 3,510 (17.8%) |
| Renter Occupied HU | 14,952 (75.8%) |
| Vacant Housing Units | 1,253 ( 6.4%) |
| Median Home Value | $476,777 |
| Average Home Value | $584,786 |
Housing Distribution
Address Breakdown
Residential
18,630
Single Family
5,757
Multi-Family
12,873
Businesses
1,472
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