614 Garfield AveAlbert LeaMN56007
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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 Albert Lea at 614 Garfield Ave, Albert Lea, MN, 56007 priced at $119,000 pairs $1,043/mo rent with $300/mo cash flow after a $582/mo payment. Total monthly income equals $1,043/mo, and annual cash flow comes to $3,604/yr on $39,449 invested. Return on cash invested is 29.05% in year one, and rental yield stands at 10.52% on a $119,000 basis. Equity gained on principal adds $768/yr, and 5% annual appreciation accumulates to $32,878 by year five. Five-year ROI measures 151.99% and total cumulative return in cash reaches $59,957. For financing, Ziffy Mortgage’s DSCR program evaluates $1,043/mo property income against a $582/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1928
0.14 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56007, Albert Lea, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,809 (100%) |
| Owner Occupied HU | 6,318 (64.4%) |
| Renter Occupied HU | 2,698 (27.5%) |
| Vacant Housing Units | 793 ( 8.1%) |
| Median Home Value | $183,496 |
| Average Home Value | $231,635 |
Housing Distribution
Address Breakdown
Residential
9,333
Single Family
8,163
Multi-Family
1,170
Businesses
806
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Listed by: Chantel Weiman • Mauzy Properties
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6807950