621 E 16th StAlbert LeaMN56007
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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
Investment property for sale in Albert Lea at 621 E 16th St, Albert Lea, MN, 56007 offers a 13.66% rental yield on a $179,900 purchase with $2,048/mo rent. Total monthly income registers $2,048/mo, and a $881/mo payment leaves $924/mo available for distribution. Annual cash flow reaches $11,090/yr on $59,637 to close, and return on cash invested stands at 38.5% in year one. Equity gained on principal adds $1,161/yr while 5% annual appreciation supports $49,703 over five years. Portfolio math shows five-year ROI at 202.72% and total cumulative return in cash at $120,897. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,048/mo property income against a $881/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
9,583 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: Robert J. Hoffman • Robert Hoffman Realty Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6722994