408 S Park StFairmontMN56031
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 408 S Park St, Fairmont, MN, 56031 in Fairmont: $2,160/mo in rent, $1,411/mo net, 21.6% gross yield, all on a $120,000 acquisition. The 4.00 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $33,154 in value, and $1,105/yr in principal paydown steadily builds equity. Projected total cumulative return: $136,293.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 21.6% | 6.5% |
| Monthly Cash Flow | $1,411 | $350 |
City averages based on Fairmont market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,160 |
| Total Monthly Debt Service | $702 |
| DSCR Ratio | 3.08x |
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 1900
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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 1900
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices