516 10th St WPark RapidsMN56470
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
Investment property for sale in Park Rapids at 516 10th St W, Park Rapids, MN, 56470 uses $109,229 cash to close to unlock $480/yr annual cash flow and $40/mo monthly cash flow. Total monthly income runs $2,220/mo, and a $1,613/mo payment keeps the spread at $40/mo. Purchase price stands at $329,500, and rental yield measures 8.08% with $2,220/mo rent. Return on cash invested shows 20.35% in year one, and 5% annual appreciation builds toward $91,035 over five years. Five-year ROI reaches 105.75% and total cumulative return in cash records $115,510. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,220/mo property income covering a $1,613/mo payment rather than investor’s personal income.
Single Family
Built in 1991
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56470, Park Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,740 (100%) |
| Owner Occupied HU | 3,454 (44.6%) |
| Renter Occupied HU | 1,309 (16.9%) |
| Vacant Housing Units | 2,977 (38.5%) |
| Median Home Value | $326,377 |
| Average Home Value | $407,613 |
Housing Distribution
Address Breakdown
Residential
5,787
Single Family
5,077
Multi-Family
710
Businesses
542
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Nearby investment properties with comparable prices
Listed by: Kristine Walsh • Dane Arthur Real Estate Agency-Park Rapids
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6689062
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