603 Runestone DrAlexandriaMN56308
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 603 Runestone Dr, Alexandria, MN, 56308 in Alexandria: $2,963/mo in rent, $840/mo net, 10.46% gross yield, all on a $339,900 acquisition. The 1.94 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $93,908 in value, and $3,131/yr in principal paydown steadily builds equity. Projected total cumulative return: $183,122.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 6.5% |
| Monthly Cash Flow | $840 | $850 |
City averages based on Alexandria market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,963 |
| Total Monthly Debt Service | $1,987 |
| DSCR Ratio | 1.49x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1966
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56308, Alexandria, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,200 (100%) |
| Owner Occupied HU | 8,370 (55.1%) |
| Renter Occupied HU | 3,626 (23.9%) |
| Vacant Housing Units | 3,204 (21.1%) |
| Median Home Value | $381,523 |
| Average Home Value | $429,357 |
Housing Distribution
Address Breakdown
Residential
13,430
Single Family
10,722
Multi-Family
2,708
Businesses
1,290
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 1966
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56308, Alexandria, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,200 (100%) |
| Owner Occupied HU | 8,370 (55.1%) |
| Renter Occupied HU | 3,626 (23.9%) |
| Vacant Housing Units | 3,204 (21.1%) |
| Median Home Value | $381,523 |
| Average Home Value | $429,357 |
Housing Distribution
Address Breakdown
Residential
13,430
Single Family
10,722
Multi-Family
2,708
Businesses
1,290
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kelly J Sander • Counselor Realty Inc of Alex
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6777992