2929 Chicago Ave UNIT 1220MinneapolisMN55407
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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 2929 Chicago Ave UNIT 1220, Minneapolis, MN, 55407 listed at $100,000 pairs $1,564/mo rent with a $489/mo payment to leave $231/mo cash flow. Total monthly income runs $1,564/mo, and annual cash flow reaches $2,776/yr on $33,150 cash to close. Return on cash invested measures 28.28% in year one, and rental yield registers 18.77% at a $100,000 basis. Equity gained on principal adds $645/yr, and annual property appreciation at 5% supports $27,628 by year five. Five-year ROI tracks 157.22% and total cumulative return in cash totals $52,120. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,564/mo property income relative to a $489/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1900
5.87 Acres lot
$N/A/sqft
$600 monthly 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
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Nearby investment properties with comparable prices
Listed by: Aundrea M. Paskett • RE/MAX Professionals
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6781675
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