306 S 7th StNew SalemND58563
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Rental property for sale in New Salem at 306 S 7th St, New Salem, ND, 58563 generates $2,161/mo in rent and, after a $1,248/mo payment, leaves $609/mo in cash flow. Total monthly income is $2,161/mo, and annual cash flow is $7,309/yr on $84,533 invested. Return on cash invested sits at 28.56% in year one, and rental yield is 10.17% on a $255,000 entry. Equity gained on principal adds $1,645/yr, while 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 149.14% and total cumulative return in cash sums $126,068. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,161/mo property income rather than buyer’s personal income.
Single Family
Built in 1984
0.21 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58563, New Salem, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 962 (100%) |
| Owner Occupied HU | 688 (71.5%) |
| Renter Occupied HU | 110 (11.4%) |
| Vacant Housing Units | 164 (17.0%) |
| Median Home Value | $226,768 |
| Average Home Value | $288,899 |
Housing Distribution
Address Breakdown
Residential
666
Single Family
625
Multi-Family
41
Businesses
58
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: MITCHELL GRADE • NEXTHOME LEGENDARY PROPERTIES
Mls Name: Great North MLS
Mls ID: #4021214