3116 W Lake St Unit 217MinneapolisMN55416
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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 Minneapolis at 3116 W Lake St Unit 217, Minneapolis, MN, 55416 offers a 11.3% rental yield on a $275,000 purchase with $2,590/mo rent. Total monthly income registers $2,590/mo, and a $1,346/mo payment leaves $873/mo available for distribution. Annual cash flow reaches $10,473/yr on $91,163 to close, and return on cash invested stands at 31.4% in year one. Equity gained on principal adds $1,775/yr while 5% annual appreciation supports $75,977 over five years. Portfolio math shows five-year ROI at 164.53% and total cumulative return in cash at $149,987. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,590/mo property income against a $1,346/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2007
N/A 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
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Listed by: Paige Gibson • Coldwell Banker Realty - Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7011590