5650 Boone Ave N APT 408New HopeMN55428
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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 New Hope at 5650 Boone Ave N APT 408, New Hope, MN, 55428 offers a 9.39% rental yield on a $145,000 purchase with $1,135/mo rent. Total monthly income registers $1,135/mo, and a $710/mo payment leaves $229/mo available for distribution. Annual cash flow reaches $2,751/yr on $48,068 to close, and return on cash invested stands at 25.63% in year one. Equity gained on principal adds $936/yr while 5% annual appreciation supports $40,061 over five years. Portfolio math shows five-year ROI at 133.68% and total cumulative return in cash at $64,256. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,135/mo property income against a $710/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2005
2.53 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55428, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,649 (100%) |
| Owner Occupied HU | 6,926 (54.8%) |
| Renter Occupied HU | 5,227 (41.3%) |
| Vacant Housing Units | 496 ( 3.9%) |
| Median Home Value | $314,013 |
| Average Home Value | $337,826 |
Housing Distribution
Address Breakdown
Residential
12,450
Single Family
8,677
Multi-Family
3,773
Businesses
1,083
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