3022 Grand Ave SMinneapolisMN55408
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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
Rental property for sale in Minneapolis at 3022 Grand Ave S, Minneapolis, MN, 55408 priced at $314,900 converts $1,858/mo rent into after a $1,541/mo obligation. Total monthly income equals $1,858/mo. Return on cash invested prints 18.67% in year one, and rental yield reads 7.08% against a $314,900 entry. Equity gained on principal adds $2,032/yr, while 5% annual appreciation compiles into $87,001 by year five. Five-year ROI reaches 96.24% and total cumulative return in cash sums $100,462. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,858/mo property income covering a $1,541/mo payment, not borrower’s personal income.
Multi Family
Built in 1884
3,049 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
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Listed by: Lyman L Jenkins • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6724558