2803 E 38th St APT 202MinneapolisMN55406
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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 2803 E 38th St APT 202, Minneapolis, MN, 55406 offers a 11.9% rental yield on a $174,900 purchase with $1,735/mo rent. Total monthly income registers $1,735/mo, and a $856/mo payment leaves $643/mo available for distribution. Annual cash flow reaches $7,715/yr on $57,979 to close, and return on cash invested stands at 33.21% in year one. Equity gained on principal adds $1,129/yr while 5% annual appreciation supports $48,322 over five years. Portfolio math shows five-year ROI at 174.29% and total cumulative return in cash at $101,052. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,735/mo property income against a $856/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2003
9,975 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55406, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,919 (100%) |
| Owner Occupied HU | 10,172 (60.1%) |
| Renter Occupied HU | 6,007 (35.5%) |
| Vacant Housing Units | 740 ( 4.4%) |
| Median Home Value | $382,362 |
| Average Home Value | $452,022 |
Housing Distribution
Address Breakdown
Residential
16,527
Single Family
12,303
Multi-Family
4,224
Businesses
979
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Listed by: Robert E Davis III • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6809475