3023 3rd StLake ParkMN56554
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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 Lake Park at 3023 3rd St, Lake Park, MN, 56554 uses $43,062 cash to close to unlock $4,964/yr annual cash flow and $414/mo monthly cash flow. Total monthly income runs $1,225/mo, and a $636/mo payment keeps the spread at $414/mo. Purchase price stands at $129,900, and rental yield measures 11.32% with $1,225/mo rent. Return on cash invested shows 31.44% in year one, and 5% annual appreciation builds toward $35,889 over five years. Five-year ROI reaches 164.77% and total cumulative return in cash records $70,951. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,225/mo property income covering a $636/mo payment rather than investor’s personal income.
Single Family
Built in 1911
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56554, Lake Park, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,893 (100%) |
| Owner Occupied HU | 1,061 (56.0%) |
| Renter Occupied HU | 161 ( 8.5%) |
| Vacant Housing Units | 671 (35.4%) |
| Median Home Value | $424,745 |
| Average Home Value | $451,025 |
Housing Distribution
Address Breakdown
Residential
1,199
Single Family
1,158
Multi-Family
41
Businesses
61
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Listed by: Lief Rogstad • Action Realty of Detroit Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6652668
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