315 N 51st St APT 11Grand ForksND58203
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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 Grand Forks at 315 N 51st St APT 11, Grand Forks, ND, 58203 offers a 11.04% rental yield on a $112,900 purchase with $1,039/mo rent. Total monthly income registers $1,039/mo, and a $553/mo payment leaves $351/mo available for distribution. Annual cash flow reaches $4,218/yr on $37,426 to close, and return on cash invested stands at 31.18% in year one. Equity gained on principal adds $729/yr while 5% annual appreciation supports $31,192 over five years. Portfolio math shows five-year ROI at 163.2% and total cumulative return in cash at $61,078. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,039/mo property income against a $553/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58203, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,325 (100%) |
| Owner Occupied HU | 3,013 (36.2%) |
| Renter Occupied HU | 4,169 (50.1%) |
| Vacant Housing Units | 1,143 (13.7%) |
| Median Home Value | $211,585 |
| Average Home Value | $226,882 |
Housing Distribution
Address Breakdown
Residential
7,267
Single Family
4,816
Multi-Family
2,451
Businesses
625
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Listed by: Stacey Galstad • Greenberg Realty
Mls Name: GFBMLS
Mls ID: #26-86