311 18th Ave SEDevils LakeND58301
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 311 18th Ave SE, Devils Lake, ND, 58301 in Devils Lake at $240,000 earns $1,202/mo in rent and nets $99/mo after the $1,079/mo payment, a 8.09% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $66,308 over five years. Ziffy Mortgage underwrites this on a 1.11 DSCR without U.S. credit history. With $2,210/yr in principal paydown, total projected return reaches $70,782.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 6.8% |
| Monthly Cash Flow | $99 | $450 |
City averages based on Devils Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,202 |
| Total Monthly Debt Service | $1,423 |
| DSCR Ratio | 0.84x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Townhouse
Built in 1981
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58301, Devils Lake, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,184 (100%) |
| Owner Occupied HU | 2,704 (52.2%) |
| Renter Occupied HU | 1,723 (33.2%) |
| Vacant Housing Units | 757 (14.6%) |
| Median Home Value | $244,033 |
| Average Home Value | $272,981 |
Housing Distribution
Address Breakdown
Residential
4,650
Single Family
3,669
Multi-Family
981
Businesses
657
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
Townhouse
Built in 1981
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58301, Devils Lake, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,184 (100%) |
| Owner Occupied HU | 2,704 (52.2%) |
| Renter Occupied HU | 1,723 (33.2%) |
| Vacant Housing Units | 757 (14.6%) |
| Median Home Value | $244,033 |
| Average Home Value | $272,981 |
Housing Distribution
Address Breakdown
Residential
4,650
Single Family
3,669
Multi-Family
981
Businesses
657
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kensi Wateland • Reign Realty
Mls Name: GFBMLS
Mls Provider:
Mls ID: #25-743
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.