508 3rd Ave SESleepy EyeMN56085
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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 Sleepy Eye at 508 3rd Ave SE, Sleepy Eye, MN, 56085 listed at $144,900 pairs $1,963/mo rent with a $709/mo payment to leave $1,058/mo cash flow. Total monthly income runs $1,963/mo, and annual cash flow reaches $12,701/yr on $48,034 cash to close. Return on cash invested measures 46.35% in year one, and rental yield registers 16.26% at a $144,900 basis. Equity gained on principal adds $935/yr, and annual property appreciation at 5% supports $40,033 by year five. Five-year ROI tracks 244.78% and total cumulative return in cash totals $117,577. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,963/mo property income relative to a $709/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1959
4,800 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56085, Sleepy Eye, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,384 (100%) |
| Owner Occupied HU | 1,727 (72.4%) |
| Renter Occupied HU | 436 (18.3%) |
| Vacant Housing Units | 221 ( 9.3%) |
| Median Home Value | $206,740 |
| Average Home Value | $302,846 |
Housing Distribution
Address Breakdown
Residential
2,286
Single Family
2,043
Multi-Family
243
Businesses
164
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Listed by: Daniel Haala • Century 21 Atwood
Mls Name: RASM
Mls Provider:
Mls ID: #7036063
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2024, REALTOR Association of Southern MN. All Rights Reserved. Last Updated: 2024-02-12 10:03:05 PST