345 E River DrPark RapidsMN56470
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
Rental property for sale in Park Rapids at 345 E River Dr, Park Rapids, MN, 56470 priced at $379,900 converts $1,483/mo rent into after a $1,859/mo obligation. Total monthly income equals $1,483/mo. Return on cash invested prints 9.1% in year one, and rental yield reads 4.68% against a $379,900 entry. Equity gained on principal adds $2,451/yr, while 5% annual appreciation compiles into $104,959 by year five. Five-year ROI reaches 45.81% and total cumulative return in cash sums $57,689. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,483/mo property income covering a $1,859/mo payment, not borrower’s personal income.
Multi Family
Built in 1994
0.75 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56470, Park Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,740 (100%) |
| Owner Occupied HU | 3,454 (44.6%) |
| Renter Occupied HU | 1,309 (16.9%) |
| Vacant Housing Units | 2,977 (38.5%) |
| Median Home Value | $326,377 |
| Average Home Value | $407,613 |
Housing Distribution
Address Breakdown
Residential
5,787
Single Family
5,077
Multi-Family
710
Businesses
542
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Betty Eischens • Affinity Real Estate Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6774402
Disclaimer: Based on information submitted to the MLS GRID as of 2025-08-20 10:33:12 PDT. 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](/mls-disclaimers/#28) By searching NorthstarMLS listings you agree to the [NorthstarMLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)