505 Oak St N #503FargoND58102
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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 Fargo at 505 Oak St N #503, Fargo, ND, 58102 offers a 2.38% rental yield on a $1,249,000 purchase with $2,482/mo rent. 19% in year one. Equity gained on principal adds $8,060/yr while 5% annual appreciation supports $345,076 over five years. Portfolio math shows five-year ROI at 23.67% and total cumulative return in cash at $95,795. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,482/mo property income against a $6,113/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2021
0.05 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58102, Fargo, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,460 (100%) |
| Owner Occupied HU | 6,907 (39.6%) |
| Renter Occupied HU | 8,453 (48.4%) |
| Vacant Housing Units | 2,100 (12.0%) |
| Median Home Value | $273,940 |
| Average Home Value | $333,973 |
Housing Distribution
Address Breakdown
Residential
15,868
Single Family
9,072
Multi-Family
6,796
Businesses
1,384
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Listed by: Barry Gruchow • RE/MAX Legacy Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7422651