615 3rd Ave SWLong PrairieMN56347
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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 Long Prairie at 615 3rd Ave SW, Long Prairie, MN, 56347 priced at $299,900 pairs $2,950/mo rent with $1,077/mo cash flow after a $1,468/mo payment. Total monthly income equals $2,950/mo, and annual cash flow comes to $12,926/yr on $99,417 invested. Return on cash invested is 32.91% in year one, and rental yield stands at 11.8% on a $299,900 basis. Equity gained on principal adds $1,935/yr, and 5% annual appreciation accumulates to $82,857 by year five. Five-year ROI measures 172.67% and total cumulative return in cash reaches $171,664. For financing, Ziffy Mortgage’s DSCR program evaluates $2,950/mo property income against a $1,468/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1993
0.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56347, Long Prairie, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,042 (100%) |
| Owner Occupied HU | 1,965 (64.6%) |
| Renter Occupied HU | 718 (23.6%) |
| Vacant Housing Units | 359 (11.8%) |
| Median Home Value | $233,362 |
| Average Home Value | $269,607 |
Housing Distribution
Address Breakdown
Residential
2,848
Single Family
2,523
Multi-Family
325
Businesses
240
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Nearby investment properties with comparable prices
Listed by: Neal Leagjeld • Coldwell Banker Crown Realtors
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6565640
Disclaimer: Based on information submitted to the MLS GRID as of 2024-10-14 11:51:30 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)