520 Ridgewood Ave APT 4MinneapolisMN55403
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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 Minneapolis at 520 Ridgewood Ave APT 4, Minneapolis, MN, 55403 uses $38,786 cash to close to unlock $1,909/yr annual cash flow and $159/mo monthly cash flow. Total monthly income runs $890/mo, and a $573/mo payment keeps the spread at $159/mo. Purchase price stands at $117,000, and rental yield measures 9.13% with $890/mo rent. Return on cash invested shows 24.83% in year one, and 5% annual appreciation builds toward $32,325 over five years. Five-year ROI reaches 129.42% and total cumulative return in cash records $50,197. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $890/mo property income covering a $573/mo payment rather than investor’s personal income.
Condo
Built in 1971
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55403, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,855 (100%) |
| Owner Occupied HU | 2,259 (16.3%) |
| Renter Occupied HU | 10,313 (74.4%) |
| Vacant Housing Units | 1,283 ( 9.3%) |
| Median Home Value | $538,012 |
| Average Home Value | $658,136 |
Housing Distribution
Address Breakdown
Residential
12,543
Single Family
969
Multi-Family
11,574
Businesses
663
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Listed by: Alec Roth • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6680091