317 Groveland Ave UNIT 705MinneapolisMN55403
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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 317 Groveland Ave UNIT 705, Minneapolis, MN, 55403 offers a 7.84% rental yield on a $460,000 purchase with $3,007/mo rent. Total monthly income registers $3,007/mo, and a $2,251/mo payment leaves $135/mo available for distribution. Annual cash flow reaches $1,620/yr on $152,490 to close, and return on cash invested stands at 20.97% in year one. Equity gained on principal adds $2,968/yr while 5% annual appreciation supports $127,090 over five years. Portfolio math shows five-year ROI at 108.6% and total cumulative return in cash at $165,601. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,007/mo property income against a $2,251/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2006
N/A 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: Zach Moore • Keller Williams Premier Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6767283