3140 24th Ave SGrand ForksND58201
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play3140 24th Ave S, Grand Forks, ND, 58201 in Grand Forks is priced for appreciation, not yield. Rental yield 5.85%. At $374,900 with a 5.85% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $103,578 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (1.23) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $123,935.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.9% | 7.2% |
| Monthly Cash Flow | $(523) | $450 |
City averages based on Grand Forks market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,066 |
| Total Monthly Debt Service | $2,202 |
| DSCR Ratio | 0.94x |
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 1993
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58201, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,143 (100%) |
| Owner Occupied HU | 9,538 (45.1%) |
| Renter Occupied HU | 10,113 (47.8%) |
| Vacant Housing Units | 1,492 ( 7.1%) |
| Median Home Value | $312,291 |
| Average Home Value | $369,772 |
Housing Distribution
Address Breakdown
Residential
20,432
Single Family
11,507
Multi-Family
8,925
Businesses
1,190
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 1993
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58201, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,143 (100%) |
| Owner Occupied HU | 9,538 (45.1%) |
| Renter Occupied HU | 10,113 (47.8%) |
| Vacant Housing Units | 1,492 ( 7.1%) |
| Median Home Value | $312,291 |
| Average Home Value | $369,772 |
Housing Distribution
Address Breakdown
Residential
20,432
Single Family
11,507
Multi-Family
8,925
Businesses
1,190
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jessica Rice • Crary Real Estate
Mls Name: GFBMLS
Mls Provider:
Mls ID: #25-486
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.