611 W Lincoln StSpringfieldMN56087
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 Springfield at 611 W Lincoln St, Springfield, MN, 56087 offers $1,313/mo rent that, after a $844/mo payment, leaves $236/mo cash flow. Total monthly income is $1,313/mo, and annual cash flow is $2,835/yr on $57,151 cash. Return on cash invested measures 24.87% in year one, and rental yield stands at 9.14% at a $172,400 entry. Equity gained on principal adds $1,112/yr while 5% annual appreciation compounds into $47,631 by year five. Five-year ROI records 129.61% and total cumulative return in cash reaches $74,071. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,313/mo property income versus a $844/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1948
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56087, Springfield, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,398 (100%) |
| Owner Occupied HU | 1,005 (71.9%) |
| Renter Occupied HU | 278 (19.9%) |
| Vacant Housing Units | 115 ( 8.2%) |
| Median Home Value | $191,406 |
| Average Home Value | $242,614 |
Housing Distribution
Address Breakdown
Residential
1,298
Single Family
1,166
Multi-Family
132
Businesses
126
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Listed by: Jordan Johnson • Edina Realty Inc. Mankato
Mls Name: RASM
Mls ID: #7038395