6 6th St NEMelroseMN56352
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
Rental property for sale in Melrose at 6 6th St NE, Melrose, MN, 56352 priced at $279,900 converts $2,790/mo rent into $1,042/mo cash flow after a $1,370/mo obligation. Total monthly income equals $2,790/mo, and annual cash flow totals $12,506/yr on $92,787 invested. Return on cash invested prints 33.39% in year one, and rental yield reads 11.96% against a $279,900 entry. Equity gained on principal adds $1,806/yr, while 5% annual appreciation compiles into $77,331 by year five. Five-year ROI reaches 175.24% and total cumulative return in cash sums $162,601. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,790/mo property income covering a $1,370/mo payment, not borrower’s personal income.
Single Family
Built in 1986
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56352, Melrose, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,428 (100%) |
| Owner Occupied HU | 1,693 (69.7%) |
| Renter Occupied HU | 509 (21.0%) |
| Vacant Housing Units | 226 ( 9.3%) |
| Median Home Value | $323,153 |
| Average Home Value | $382,620 |
Housing Distribution
Address Breakdown
Residential
2,189
Single Family
1,954
Multi-Family
235
Businesses
146
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Nearby investment properties with comparable prices
Listed by: Jon Brophy • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6649763
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