509 Summit St SESleepy EyeMN56085
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 Sleepy Eye at 509 Summit St SE, Sleepy Eye, MN, 56085 offers $1,682/mo rent that, after a $881/mo payment, leaves $558/mo cash flow. Total monthly income is $1,682/mo, and annual cash flow is $6,698/yr on $59,637 cash. Return on cash invested measures 31.14% in year one, and rental yield stands at 11.22% at a $179,900 entry. Equity gained on principal adds $1,161/yr while 5% annual appreciation compounds into $49,703 by year five. Five-year ROI records 163.22% and total cumulative return in cash reaches $97,341. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,682/mo property income versus a $881/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
7,000 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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Nearby investment properties with comparable prices
Listed by: Alexander Phippen • True Real Estate
Mls Name: RASM
Mls Provider:
Mls ID: #7036920
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 2025, REALTOR Association of Southern MN. All Rights Reserved. Last Updated: 2025-03-19 10:20:16 PDT