302 E 1st StFairmontMN56031
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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 Fairmont at 302 E 1st St, Fairmont, MN, 56031 uses $74,256 cash to close to unlock $9,583/yr annual cash flow and $799/mo monthly cash flow. Total monthly income runs $2,197/mo, and a $1,096/mo payment keeps the spread at $799/mo. Purchase price stands at $224,000, and rental yield measures 11.77% with $2,197/mo rent. Return on cash invested shows 32.81% in year one, and 5% annual appreciation builds toward $61,887 over five years. Five-year ROI reaches 172.13% and total cumulative return in cash records $127,819. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,197/mo property income covering a $1,096/mo payment rather than investor’s personal income.
Single Family
Built in 1915
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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