317 Groveland Ave UNIT 305MinneapolisMN55403
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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
Rental property for sale in Minneapolis at 317 Groveland Ave UNIT 305, Minneapolis, MN, 55403 generates $2,461/mo in rent, after a $2,203/mo payment. Total monthly income is $2,461/mo. Return on cash invested sits at 17.1% in year one, and rental yield is 6.56% on a $450,000 entry. Equity gained on principal adds $2,904/yr, while 5% annual appreciation builds toward $124,327 over five years. Five-year ROI reaches 87.85% and total cumulative return in cash sums $131,046. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,461/mo property income rather than buyer’s personal income.
Condo
Built in 2006
1.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55403, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,855 (100%) |
| Owner Occupied HU | 2,259 (16.3%) |
| Renter Occupied HU | 10,313 (74.4%) |
| Vacant Housing Units | 1,283 ( 9.3%) |
| Median Home Value | $538,012 |
| Average Home Value | $658,136 |
Housing Distribution
Address Breakdown
Residential
12,543
Single Family
969
Multi-Family
11,574
Businesses
663
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Listed by: Taryn C Kelzer • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6754666