313 1st St SEElbow LakeMN56531
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeNot flashy, but dependably profitable, 313 1st St SE, Elbow Lake, MN, 56531 in Elbow Lake is listed at $226,900 and delivers $1,728/mo in rent and $311/mo in net monthly cash flow. The 9.14% yield and 1.69 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $62,688 over five years, and $2,090/yr in principal reduction supplements cash return. Total projected cumulative return: $106,140.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.8% |
| Monthly Cash Flow | $311 | $280 |
City averages based on Elbow Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,728 |
| Total Monthly Debt Service | $1,327 |
| DSCR Ratio | 1.30x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1914
8,712 sqft lot
$N/A/sqft
No HOA
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
Single Family
Built in 1914
8,712 sqft lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Debra Banta • Lakes Family Real Estate/Otter Tail Real Estate
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6782896