3250 15th Ave S APT 24FargoND58103
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 3250 15th Ave S APT 24, Fargo, ND, 58103 in Fargo achieves 1.67, rent of $1,139/mo covers the $683/mo payment 1.5x over at $152,000. Rental yield 8.99%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $41,995 over five years, with $1,400/yr in principal reduction bringing total projected return to $49,109.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 7.2% |
| Monthly Cash Flow | $(158) | $450 |
City averages based on Fargo market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,139 |
| Total Monthly Debt Service | $1,236 |
| DSCR Ratio | 0.92x |
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.
Condo
Built in 1979
2.14 Acres lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58103, Fargo, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,913 (100%) |
| Owner Occupied HU | 9,697 (37.4%) |
| Renter Occupied HU | 14,163 (54.7%) |
| Vacant Housing Units | 2,053 ( 7.9%) |
| Median Home Value | $259,272 |
| Average Home Value | $322,801 |
Housing Distribution
Address Breakdown
Residential
23,421
Single Family
10,596
Multi-Family
12,825
Businesses
2,042
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
Condo
Built in 1979
2.14 Acres lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58103, Fargo, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,913 (100%) |
| Owner Occupied HU | 9,697 (37.4%) |
| Renter Occupied HU | 14,163 (54.7%) |
| Vacant Housing Units | 2,053 ( 7.9%) |
| Median Home Value | $259,272 |
| Average Home Value | $322,801 |
Housing Distribution
Address Breakdown
Residential
23,421
Single Family
10,596
Multi-Family
12,825
Businesses
2,042
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Vivian Thingelstad • Dakota Plains Realty
Mls Name: FMARMLS
Mls Provider:
Mls ID: #6558786
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. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.