3023 Garfield AveMinneapolisMN55408
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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 3023 Garfield Ave, Minneapolis, MN, 55408 listed at $329,000 pairs $1,854/mo rent with a $1,610/mo payment. Total monthly income runs $1,854/mo. Return on cash invested measures 17.71% in year one, and rental yield registers 6.76% at a $329,000 basis. Equity gained on principal adds $2,123/yr, and annual property appreciation at 5% supports $90,897 by year five. Five-year ROI tracks 91.11% and total cumulative return in cash totals $99,369. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,854/mo property income relative to a $1,610/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1909
6,098 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: Kathleen Lillis, GRI • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6783335