603 Runestone DrAlexandriaMN56308
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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 Alexandria at 603 Runestone Dr, Alexandria, MN, 56308 uses $112,677 cash to close to unlock $10,082/yr annual cash flow and $840/mo monthly cash flow. Total monthly income runs $2,963/mo, and a $1,664/mo payment keeps the spread at $840/mo. Purchase price stands at $339,900, and rental yield measures 10.46% with $2,963/mo rent. Return on cash invested shows 28.86% in year one, and 5% annual appreciation builds toward $93,908 over five years. Five-year ROI reaches 150.93% and total cumulative return in cash records $170,063. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,963/mo property income covering a $1,664/mo payment rather than investor’s personal income.
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
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Listed by: Kelly J Sander • Counselor Realty Inc of Alex
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6777992