611 Oakwood DrDevils LakeND58301
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 611 Oakwood Dr, Devils Lake, ND, 58301 in Devils Lake. Rental yield 5.27%. At $580,000 with 5.27% gross yield, current distributions are modest, but the 5% appreciation rate projects $160,243 in new equity by year five, complemented by $5,342/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.98) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $156,353.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.3% | 6.8% |
| Monthly Cash Flow | $(984) | $450 |
City averages based on Devils Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,546 |
| Total Monthly Debt Service | $3,299 |
| DSCR Ratio | 0.77x |
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 1991
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58301, Devils Lake, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,184 (100%) |
| Owner Occupied HU | 2,704 (52.2%) |
| Renter Occupied HU | 1,723 (33.2%) |
| Vacant Housing Units | 757 (14.6%) |
| Median Home Value | $244,033 |
| Average Home Value | $272,981 |
Housing Distribution
Address Breakdown
Residential
4,650
Single Family
3,669
Multi-Family
981
Businesses
657
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 1991
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58301, Devils Lake, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,184 (100%) |
| Owner Occupied HU | 2,704 (52.2%) |
| Renter Occupied HU | 1,723 (33.2%) |
| Vacant Housing Units | 757 (14.6%) |
| Median Home Value | $244,033 |
| Average Home Value | $272,981 |
Housing Distribution
Address Breakdown
Residential
4,650
Single Family
3,669
Multi-Family
981
Businesses
657
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Allan M. Freidig • Real Estate 7
Mls Name: My State MLS
Mls ID: #11542521