3031 38th Ave SMinneapolisMN55406
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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 3031 38th Ave S, Minneapolis, MN, 55406 uses $76,245 cash to close to unlock $9,126/yr annual cash flow and $761/mo monthly cash flow. Total monthly income runs $2,197/mo, and a $1,126/mo payment keeps the spread at $761/mo. Purchase price stands at $230,000, and rental yield measures 11.46% with $2,197/mo rent. Return on cash invested shows 31.88% in year one, and 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 167.12% and total cumulative return in cash records $127,423. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,197/mo property income covering a $1,126/mo payment rather than investor’s personal income.
Single Family
Built in 1962
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55406, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,919 (100%) |
| Owner Occupied HU | 10,172 (60.1%) |
| Renter Occupied HU | 6,007 (35.5%) |
| Vacant Housing Units | 740 ( 4.4%) |
| Median Home Value | $382,362 |
| Average Home Value | $452,022 |
Housing Distribution
Address Breakdown
Residential
16,527
Single Family
12,303
Multi-Family
4,224
Businesses
979
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Listed by: Gina Fruncillo • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6764123