505 Wayside AveAlbert LeaMN56007
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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 Albert Lea at 505 Wayside Ave, Albert Lea, MN, 56007 with 5% annual appreciation on a $246,000 basis while $2,412/mo rent supports operations. Total monthly income totals $2,412/mo and a $1,204/mo payment preserves $876/mo for cash returns. Annual cash flow comes to $10,511/yr on $81,549 deployed, and return on cash invested reaches 32.8% in year one. Equity gained on principal adds $1,587/yr, and five-year appreciation sums $67,965 alongside rental yield of 11.77%. Five-year ROI measures 172.02% and total cumulative return in cash totals $140,282.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,412/mo property income versus a $1,204/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1970
0.33 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56007, Albert Lea, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,809 (100%) |
| Owner Occupied HU | 6,318 (64.4%) |
| Renter Occupied HU | 2,698 (27.5%) |
| Vacant Housing Units | 793 ( 8.1%) |
| Median Home Value | $183,496 |
| Average Home Value | $231,635 |
Housing Distribution
Address Breakdown
Residential
9,333
Single Family
8,163
Multi-Family
1,170
Businesses
806
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Listed by: Susan Loch • Century 21 Atwood
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6784995