401 N Gorman AveLitchfieldMN55355
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 Litchfield at 401 N Gorman Ave, Litchfield, MN, 55355 offers $2,274/mo rent that, after a $1,199/mo payment, leaves $744/mo cash flow. Total monthly income is $2,274/mo, and annual cash flow is $8,931/yr on $81,218 cash. Return on cash invested measures 30.91% in year one, and rental yield stands at 11.14% at a $245,000 entry. Equity gained on principal adds $1,581/yr while 5% annual appreciation compounds into $67,689 by year five. Five-year ROI records 161.92% and total cumulative return in cash reaches $131,508. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,274/mo property income versus a $1,199/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1955
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55355, Litchfield, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,434 (100%) |
| Owner Occupied HU | 2,995 (67.5%) |
| Renter Occupied HU | 944 (21.3%) |
| Vacant Housing Units | 495 (11.2%) |
| Median Home Value | $243,584 |
| Average Home Value | $300,728 |
Housing Distribution
Address Breakdown
Residential
4,146
Single Family
3,742
Multi-Family
404
Businesses
386
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Timothy R. Cook • Premier Real Estate Services
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6802097