516 NE 3rd AveGrand RapidsMN55744
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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 Grand Rapids at 516 NE 3rd Ave, Grand Rapids, MN, 55744 uses $75,914 cash to close to unlock $2,122/yr annual cash flow and $177/mo monthly cash flow. Total monthly income runs $1,607/mo, and a $1,121/mo payment keeps the spread at $177/mo. Purchase price stands at $229,000, and rental yield measures 8.42% with $1,607/mo rent. Return on cash invested shows 22.7% in year one, and 5% annual appreciation builds toward $63,268 over five years. Five-year ROI reaches 117.9% and total cumulative return in cash records $89,501. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,607/mo property income covering a $1,121/mo payment rather than investor’s personal income.
Single Family
Built in 1920
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55744, Grand Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,024 (100%) |
| Owner Occupied HU | 6,248 (62.3%) |
| Renter Occupied HU | 2,270 (22.6%) |
| Vacant Housing Units | 1,506 (15.0%) |
| Median Home Value | $288,056 |
| Average Home Value | $348,710 |
Housing Distribution
Address Breakdown
Residential
9,649
Single Family
8,369
Multi-Family
1,280
Businesses
945
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Listed by: Nic Zerfas • EDGE OF THE WILDERNESS REALTY
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6754620