3153 Old Highway 8 APT 304MinneapolisMN55418
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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 3153 Old Highway 8 APT 304, Minneapolis, MN, 55418 uses $38,089 cash to close to unlock $1,835/yr annual cash flow and $153/mo monthly cash flow. Total monthly income runs $870/mo, and a $562/mo payment keeps the spread at $153/mo. Purchase price stands at $114,900, and rental yield measures 9.09% with $870/mo rent. Return on cash invested shows 24.73% in year one, and 5% annual appreciation builds toward $31,745 over five years. Five-year ROI reaches 128.73% and total cumulative return in cash records $49,034. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $870/mo property income covering a $562/mo payment rather than investor’s personal income.
Condo
Built in 1967
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55418, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,851 (100%) |
| Owner Occupied HU | 8,755 (59.0%) |
| Renter Occupied HU | 5,369 (36.2%) |
| Vacant Housing Units | 727 ( 4.9%) |
| Median Home Value | $369,763 |
| Average Home Value | $424,893 |
Housing Distribution
Address Breakdown
Residential
14,467
Single Family
11,390
Multi-Family
3,077
Businesses
908
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Listed by: Bryan M Cox • True Neighbor Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6767250