5650 Boone Ave N APT 419New HopeMN55428
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 New Hope at 5650 Boone Ave N APT 419, New Hope, MN, 55428 offers a 21.68% rental yield on a $128,900 purchase with $2,329/mo rent. Total monthly income registers $2,329/mo, and a $631/mo payment leaves $778/mo available for distribution. Annual cash flow reaches $9,336/yr on $42,730 to close, and return on cash invested stands at 41.76% in year one. Equity gained on principal adds $832/yr while 5% annual appreciation supports $35,613 over five years. Portfolio math shows five-year ROI at 227.68% and total cumulative return in cash at $97,289. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,329/mo property income against a $631/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
$746 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Patricia A Hase • Coldwell Banker Realty
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6612248
Disclaimer: Based on information submitted to the MLS GRID as of 2024-10-15 07:01:30 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)