506 6th Ave SLakefieldMN56150
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
Investment Highlights
Rental property for sale in Lakefield at 506 6th Ave S, Lakefield, MN, 56150 priced at $269,000 converts $2,113/mo rent into $433/mo cash flow after a $1,317/mo obligation. Total monthly income equals $2,113/mo, and annual cash flow totals $5,194/yr on $89,174 invested. Return on cash invested prints 25.73% in year one, and rental yield reads 9.43% against a $269,000 entry. Equity gained on principal adds $1,736/yr, while 5% annual appreciation compiles into $74,320 by year five. Five-year ROI reaches 134.15% and total cumulative return in cash sums $119,627. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,113/mo property income covering a $1,317/mo payment, not borrower’s personal income.
Single Family
Built in 1973
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56150, Lakefield, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,316 (100%) |
| Owner Occupied HU | 963 (73.2%) |
| Renter Occupied HU | 191 (14.5%) |
| Vacant Housing Units | 162 (12.3%) |
| Median Home Value | $165,170 |
| Average Home Value | $220,247 |
Housing Distribution
Address Breakdown
Residential
771
Single Family
730
Multi-Family
41
Businesses
101
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Listed by: Cassidy Dewall • Edina Realty, Inc.
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6578944
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