3116 W Lake St UNIT 226MinneapolisMN55416
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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 226, Minneapolis, MN, 55416 earns from $2,676/mo rent with a $2,423/mo payment. Total monthly income totals $2,676/mo. ROI tracks 16.87% on current figures, and rental yield reads 6.49% at a $495,000 purchase. Equity gained on principal adds $3,194/yr, and 5% annual appreciation supports $136,759 over five years. Five-year ROI reaches 86.64% and total cumulative return in cash sums $142,162. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,676/mo property income instead of your 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
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Listed by: Dena K Hodnett • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6773718