502 Main Ave SRed Lake FallsMN56750
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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 Red Lake Falls at 502 Main Ave S, Red Lake Falls, MN, 56750 offers a 9.43% rental yield on a $150,000 purchase with $1,179/mo rent. Total monthly income registers $1,179/mo, and a $734/mo payment leaves $243/mo available for distribution. Annual cash flow reaches $2,910/yr on $49,725 to close, and return on cash invested stands at 25.76% in year one. Equity gained on principal adds $968/yr while 5% annual appreciation supports $41,442 over five years. Portfolio math shows five-year ROI at 134.33% and total cumulative return in cash at $66,798. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,179/mo property income against a $734/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1925
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56750, Red Lake Falls, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,173 (100%) |
| Owner Occupied HU | 816 (69.6%) |
| Renter Occupied HU | 211 (18.0%) |
| Vacant Housing Units | 146 (12.4%) |
| Median Home Value | $199,603 |
| Average Home Value | $236,964 |
Housing Distribution
Address Breakdown
Residential
1,001
Single Family
931
Multi-Family
70
Businesses
107
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Listed by: Nicholas Johnson • 218 Real Estate
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6717828