3104 W Lake St UNIT 403MinneapolisMN55416
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
Total monthly income runs $3,575/mo, and a $3,744/mo payment. Purchase price stands at $765,000, and rental yield measures 5.61% with $3,575/mo rent. Return on cash invested shows 14.33% in year one, and 5% annual appreciation builds toward $211,355 over five years. Five-year ROI reaches 72.98% and total cumulative return in cash records $183,671. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,575/mo property income covering a $3,744/mo payment rather than investor’s personal income.
Condo
Built in 2007
2.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55416, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,342 (100%) |
| Owner Occupied HU | 8,308 (40.8%) |
| Renter Occupied HU | 10,114 (49.7%) |
| Vacant Housing Units | 1,920 ( 9.4%) |
| Median Home Value | $532,918 |
| Average Home Value | $587,316 |
Housing Distribution
Address Breakdown
Residential
19,078
Single Family
8,037
Multi-Family
11,041
Businesses
1,288
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brent Reichow • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6771331