507 Lanigan Way SESaint JosephMN56374
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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
Rental property for sale in Saint Joseph at 507 Lanigan Way SE, Saint Joseph, MN, 56374 offers $1,860/mo rent that, after a $2,545/mo payment. Total monthly income is $1,860/mo. Return on cash invested measures 10.33% in year one, and rental yield stands at 4.29% at a $520,000 entry. Equity gained on principal adds $3,355/yr while 5% annual appreciation compounds into $143,666 by year five. Five-year ROI records 51.51% and total cumulative return in cash reaches $88,115. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,860/mo property income versus a $2,545/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2016
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56374, Saint Joseph, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,771 (100%) |
| Owner Occupied HU | 2,799 (74.2%) |
| Renter Occupied HU | 707 (18.7%) |
| Vacant Housing Units | 265 ( 7.0%) |
| Median Home Value | $378,368 |
| Average Home Value | $446,848 |
Housing Distribution
Address Breakdown
Residential
3,355
Single Family
2,988
Multi-Family
367
Businesses
221
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Listed by: Craig Hiltner • VoigtJohnson
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6785898