4470 24th Ave #702FargoND58104
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 2.51% gross rental yield, 4470 24th Ave #702, Fargo, ND, 58104 in Fargo is priced for capital growth, not immediate cash flow. The $556,080 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $153,635 by year five, with $5,122/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.46) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $67,654.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.5% | 7.2% |
| Monthly Cash Flow | $(2,223) | $450 |
City averages based on Fargo market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,162 |
| Total Monthly Debt Service | $3,163 |
| DSCR Ratio | 0.37x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2024
1.95 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58104, Fargo, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,395 (100%) |
| Owner Occupied HU | 10,926 (44.8%) |
| Renter Occupied HU | 11,398 (46.7%) |
| Vacant Housing Units | 2,071 ( 8.5%) |
| Median Home Value | $384,872 |
| Average Home Value | $466,708 |
Housing Distribution
Address Breakdown
Residential
24,157
Single Family
12,616
Multi-Family
11,541
Businesses
1,114
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
Condo
Built in 2024
1.95 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58104, Fargo, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,395 (100%) |
| Owner Occupied HU | 10,926 (44.8%) |
| Renter Occupied HU | 11,398 (46.7%) |
| Vacant Housing Units | 2,071 ( 8.5%) |
| Median Home Value | $384,872 |
| Average Home Value | $466,708 |
Housing Distribution
Address Breakdown
Residential
24,157
Single Family
12,616
Multi-Family
11,541
Businesses
1,114
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Josh Hanson • NextHome Legendary Properties
Mls Name: FMARMLS
Mls Provider:
Mls ID: #6587770
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.