3564 Spencer RdBarnumMN55707
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 3564 Spencer Rd, Barnum, MN, 55707 in Barnum: $2,791/mo in rent, $609/mo in net income, 9.58% gross yield, 1.78 DSCR, all at $349,500. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $96,560 in appreciation and $3,219/yr in principal paydown projects total cumulative return of $171,791.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.0% |
| Monthly Cash Flow | $609 | $450 |
City averages based on Barnum market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,791 |
| Total Monthly Debt Service | $2,043 |
| DSCR Ratio | 1.37x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1989
5 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55707, Barnum, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,704 (100%) |
| Owner Occupied HU | 1,278 (75.0%) |
| Renter Occupied HU | 149 ( 8.7%) |
| Vacant Housing Units | 277 (16.3%) |
| Median Home Value | $300,000 |
| Average Home Value | $331,273 |
Housing Distribution
Address Breakdown
Residential
1,421
Single Family
1,396
Multi-Family
25
Businesses
54
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
Single Family
Built in 1989
5 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55707, Barnum, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,704 (100%) |
| Owner Occupied HU | 1,278 (75.0%) |
| Renter Occupied HU | 149 ( 8.7%) |
| Vacant Housing Units | 277 (16.3%) |
| Median Home Value | $300,000 |
| Average Home Value | $331,273 |
Housing Distribution
Address Breakdown
Residential
1,421
Single Family
1,396
Multi-Family
25
Businesses
54
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dave Lilja • Think Minnesota Realty LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6118213
Disclaimer: Information is supplied by seller and other third parties and has not been verified. Open House information is subject to change without notice. Copyright 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.