329 Meredith RdAlbert LeaMN56007
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
Investment Highlights
Investment property for sale in Albert Lea at 329 Meredith Rd, Albert Lea, MN, 56007 earns $747/mo cash flow from $2,600/mo rent with a $1,394/mo payment. Total monthly income totals $2,600/mo, and annual cash flow totals $8,965/yr on $94,444 capital. ROI tracks 29.4% on current figures, and rental yield reads 10.95% at a $284,900 purchase. Equity gained on principal adds $1,838/yr, and 5% annual appreciation supports $78,713 over five years. Five-year ROI reaches 154.21% and total cumulative return in cash sums $145,643. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,600/mo property income instead of your personal income.
Single Family
Built in 1965
0.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56007, Albert Lea, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,809 (100%) |
| Owner Occupied HU | 6,318 (64.4%) |
| Renter Occupied HU | 2,698 (27.5%) |
| Vacant Housing Units | 793 ( 8.1%) |
| Median Home Value | $183,496 |
| Average Home Value | $231,635 |
Housing Distribution
Address Breakdown
Residential
9,333
Single Family
8,163
Multi-Family
1,170
Businesses
806
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Matthew N Johnson • Leland Realty
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6563275
Disclaimer: Based on information submitted to the MLS GRID as of 2024-11-19 07:01:27 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)