306 S 7th StNew SalemND58563
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 306 S 7th St, New Salem, ND, 58563 in New Salem hard to pass up. The 10.17% gross yield on a $255,000 purchase results in $2,161/mo in rent and $609/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.88). Annual cash flow of $7,311, five-year appreciation of $70,452, and $2,349/yr in equity build-up combine for a projected total cumulative return of $135,803.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 6.2% |
| Monthly Cash Flow | $609 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $2,161 |
| Total Monthly Debt Service | $1,451 |
| DSCR Ratio | 1.49x |
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 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
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
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