307 Main AveLake NordenSD57248
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
Investment property for sale in Lake Norden at 307 Main Ave, Lake Norden, SD, 57248 uses $129,252 cash to close to unlock $7,505/yr annual cash flow and $625/mo monthly cash flow. Total monthly income runs $3,089/mo, and a $1,908/mo payment keeps the spread at $625/mo. Purchase price stands at $389,900, and rental yield measures 9.51% with $3,089/mo rent. Return on cash invested shows 25.72% in year one, and 5% annual appreciation builds toward $107,722 over five years. Five-year ROI reaches 134.17% and total cumulative return in cash records $173,413. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,089/mo property income covering a $1,908/mo payment rather than investor’s personal income.
Single Family
Built in 1955
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57248, Lake Norden, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 603 (100%) |
| Owner Occupied HU | 328 (54.4%) |
| Renter Occupied HU | 100 (16.6%) |
| Vacant Housing Units | 175 (29.0%) |
| Median Home Value | $244,286 |
| Average Home Value | $289,764 |
Housing Distribution
Address Breakdown
Residential
337
Single Family
319
Multi-Family
18
Businesses
36
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kelan Bludorn • Best Choice Real Estate
Mls Name: East Central South Dakota BOR
Mls ID: #24-700