304 E 3rd StAlbert LeaMN56007
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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 Albert Lea at 304 E 3rd St, Albert Lea, MN, 56007 listed at $149,900 pairs $1,157/mo rent with a $734/mo payment to leave $221/mo cash flow. Total monthly income runs $1,157/mo, and annual cash flow reaches $2,648/yr on $49,692 cash to close. Return on cash invested measures 25.24% in year one, and rental yield registers 9.26% at a $149,900 basis. Equity gained on principal adds $967/yr, and annual property appreciation at 5% supports $41,415 by year five. Five-year ROI tracks 131.51% and total cumulative return in cash totals $65,351. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,157/mo property income relative to a $734/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1912
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56007, Albert Lea, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,809 (100%) |
| Owner Occupied HU | 6,318 (64.4%) |
| Renter Occupied HU | 2,698 (27.5%) |
| Vacant Housing Units | 793 ( 8.1%) |
| Median Home Value | $183,496 |
| Average Home Value | $231,635 |
Housing Distribution
Address Breakdown
Residential
9,333
Single Family
8,163
Multi-Family
1,170
Businesses
806
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Listed by: Joshua Harmdierks • Unique Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6819920