304 Terrace StLanesboroMN55949
INVESTMENT ANALYSIS
Investment Verdict
Solid Income304 Terrace St, Lanesboro, MN, 55949 in Lanesboro is a solid income-producing rental, 8.85% gross yield, $1,843/mo rent, $283/mo net cash flow on a $249,900 buy. DSCR 1.56 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $69,043 and $2,095/yr in principal reduction project a total cumulative return of $108,293.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 6.5% |
| Monthly Cash Flow | $283 | $650 |
City averages based on Lanesboro market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $1,843 |
| Total Monthly Debt Service | $1,522 |
| DSCR Ratio | 1.21x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1900
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55949, Lanesboro, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 957 (100%) |
| Owner Occupied HU | 645 (67.4%) |
| Renter Occupied HU | 140 (14.6%) |
| Vacant Housing Units | 172 (18.0%) |
| Median Home Value | $291,923 |
| Average Home Value | $349,907 |
Housing Distribution
Address Breakdown
Residential
828
Single Family
779
Multi-Family
49
Businesses
59
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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
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