620 Main Ave S #618Red Lake FallsMN56750
Nearby investment properties with comparable rents
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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
Rental property for sale in Red Lake Falls at 620 Main Ave S #618, Red Lake Falls, MN, 56750 generates $960/mo in rent, after a $857/mo payment. Total monthly income is $960/mo. Return on cash invested sits at 17.15% in year one, and rental yield is 6.58% on a $175,000 entry. Equity gained on principal adds $1,129/yr, while 5% annual appreciation builds toward $48,349 over five years. Five-year ROI reaches 88.15% and total cumulative return in cash sums $51,139. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $960/mo property income rather than buyer’s personal income.
Multi Family
Built in 1915
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56750, Red Lake Falls, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,173 (100%) |
| Owner Occupied HU | 816 (69.6%) |
| Renter Occupied HU | 211 (18.0%) |
| Vacant Housing Units | 146 (12.4%) |
| Median Home Value | $199,603 |
| Average Home Value | $236,964 |
Housing Distribution
Address Breakdown
Residential
1,001
Single Family
931
Multi-Family
70
Businesses
107
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Listed by: Richard Johnson • Reed Realty Thief River Falls
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6691651
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