59989 Dora Lake RdNorthomeMN56661
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 3.82% gross rental yield, 59989 Dora Lake Rd, Northome, MN, 56661 in Northome is priced for capital growth, not immediate cash flow. The $230,000 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $63,545 by year five, with $2,118/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.71) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $41,998.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.8% | 7.5% |
| Monthly Cash Flow | $(704) | $350 |
City averages based on Northome market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $732 |
| Total Monthly Debt Service | $1,345 |
| DSCR Ratio | 0.54x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1970
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56661, Northome, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 691 (100%) |
| Owner Occupied HU | 331 (47.9%) |
| Renter Occupied HU | 43 ( 6.2%) |
| Vacant Housing Units | 317 (45.9%) |
| Median Home Value | $207,738 |
| Average Home Value | $261,601 |
Housing Distribution
Address Breakdown
Residential
344
Single Family
334
Multi-Family
10
Businesses
42
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
Single Family
Built in 1970
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56661, Northome, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 691 (100%) |
| Owner Occupied HU | 331 (47.9%) |
| Renter Occupied HU | 43 ( 6.2%) |
| Vacant Housing Units | 317 (45.9%) |
| Median Home Value | $207,738 |
| Average Home Value | $261,601 |
Housing Distribution
Address Breakdown
Residential
344
Single Family
334
Multi-Family
10
Businesses
42
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices