402 2nd Ave NLake NordenSD57248
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 Lake Norden at 402 2nd Ave N, Lake Norden, SD, 57248 priced at $169,900 converts $1,318/mo rent into $244/mo cash flow after a $832/mo obligation. Total monthly income equals $1,318/mo, and annual cash flow totals $2,927/yr on $56,322 invested. Return on cash invested prints 25.11% in year one, and rental yield reads 9.31% against a $169,900 entry. Equity gained on principal adds $1,096/yr, while 5% annual appreciation compiles into $46,940 by year five. Five-year ROI reaches 130.87% and total cumulative return in cash sums $73,706. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,318/mo property income covering a $832/mo payment, not borrower’s personal income.
Single Family
Built in 1900
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57248, Lake Norden, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 603 (100%) |
| Owner Occupied HU | 328 (54.4%) |
| Renter Occupied HU | 100 (16.6%) |
| Vacant Housing Units | 175 (29.0%) |
| Median Home Value | $244,286 |
| Average Home Value | $289,764 |
Housing Distribution
Address Breakdown
Residential
337
Single Family
319
Multi-Family
18
Businesses
36
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Listed by: Chandler Roberts • Best Choice Real Estate
Mls Name: East Central South Dakota BOR
Mls ID: #25-162