2639 Colfax Ave S APT 101MinneapolisMN55408
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis Minneapolis rental at 2639 Colfax Ave S APT 101, Minneapolis, MN, 55408 sits in the solid-income band: 9.5% gross yield, $949/mo rent, $200/mo net after the $539/mo debt service, DSCR 1.76. Entry price of $119,900 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $33,126 and $1,104/yr in principal reduction bring total cumulative return to $58,440.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 4.8% |
| Monthly Cash Flow | $200 | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $949 |
| Total Monthly Debt Service | $701 |
| DSCR Ratio | 1.35x |
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.
Condo
Built in 1960
0.24 sqft lot
$N/A/sqft
No 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
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
Condo
Built in 1960
0.24 sqft lot
$N/A/sqft
No 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Christine M Tuhy • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6787614