424 3rd Ave NESleepy EyeMN56085
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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
Investment property for sale in Sleepy Eye at 424 3rd Ave NE, Sleepy Eye, MN, 56085 listed at $170,000 pairs $1,201/mo rent with a $832/mo payment to leave $140/mo cash flow. Total monthly income runs $1,201/mo, and annual cash flow reaches $1,674/yr on $56,355 cash to close. Return on cash invested measures 22.88% in year one, and rental yield registers 8.48% at a $170,000 basis. Equity gained on principal adds $1,097/yr, and annual property appreciation at 5% supports $46,968 by year five. Five-year ROI tracks 118.9% and total cumulative return in cash totals $67,005. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,201/mo property income relative to a $832/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1946
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56085, Sleepy Eye, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,384 (100%) |
| Owner Occupied HU | 1,727 (72.4%) |
| Renter Occupied HU | 436 (18.3%) |
| Vacant Housing Units | 221 ( 9.3%) |
| Median Home Value | $206,740 |
| Average Home Value | $302,846 |
Housing Distribution
Address Breakdown
Residential
2,286
Single Family
2,043
Multi-Family
243
Businesses
164
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Listed by: Tara Onken • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6757646