505 2nd Ave NLake NordenSD57248
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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 Lake Norden at 505 2nd Ave N, Lake Norden, SD, 57248 listed at $154,900 pairs $1,445/mo rent with a $758/mo payment to leave $466/mo cash flow. Total monthly income runs $1,445/mo, and annual cash flow reaches $5,595/yr on $51,349 cash to close. Return on cash invested measures 30.81% in year one, and rental yield registers 11.19% at a $154,900 basis. Equity gained on principal adds $1,000/yr, and annual property appreciation at 5% supports $42,796 by year five. Five-year ROI tracks 161.52% and total cumulative return in cash totals $82,940. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,445/mo property income relative to a $758/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1928
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: KELAN BLUDORN • BEST CHOICE REAL ESTATE
Mls Name: Northeast South Dakota BOR
Mls ID: #36-236