2929 Chicago Ave Unit 1002MinneapolisMN55407
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 2929 Chicago Ave Unit 1002, Minneapolis, MN, 55407 in Minneapolis achieves 1.57, rent of $1,533/mo covers the $976/mo payment 1.5x over at $217,000. Rental yield 8.48%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $59,953 over five years, with $1,999/yr in principal reduction bringing total projected return to $93,829.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 4.8% |
| Monthly Cash Flow | $(659) | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,533 |
| Total Monthly Debt Service | $1,269 |
| DSCR Ratio | 1.21x |
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 1900
5.87 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55407, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,967 (100%) |
| Owner Occupied HU | 7,551 (50.5%) |
| Renter Occupied HU | 6,647 (44.4%) |
| Vacant Housing Units | 769 ( 5.1%) |
| Median Home Value | $350,929 |
| Average Home Value | $382,751 |
Housing Distribution
Address Breakdown
Residential
15,053
Single Family
10,906
Multi-Family
4,147
Businesses
853
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 1900
5.87 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55407, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,967 (100%) |
| Owner Occupied HU | 7,551 (50.5%) |
| Renter Occupied HU | 6,647 (44.4%) |
| Vacant Housing Units | 769 ( 5.1%) |
| Median Home Value | $350,929 |
| Average Home Value | $382,751 |
Housing Distribution
Address Breakdown
Residential
15,053
Single Family
10,906
Multi-Family
4,147
Businesses
853
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alexander Westlake Richards • Coldwell Banker Realty - Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6784716