621 Norway Lake RdPine RiverMN56474
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 Pine River at 621 Norway Lake Rd, Pine River, MN, 56474 priced at $129,500 converts $1,243/mo rent into $434/mo cash flow after a $634/mo obligation. Total monthly income equals $1,243/mo, and annual cash flow totals $5,210/yr on $42,929 invested. Return on cash invested prints 32.05% in year one, and rental yield reads 11.52% against a $129,500 entry. Equity gained on principal adds $836/yr, while 5% annual appreciation compiles into $35,778 by year five. Five-year ROI reaches 168.11% and total cumulative return in cash sums $72,170. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,243/mo property income covering a $634/mo payment, not borrower’s personal income.
Single Family
Built in 1960
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56474, Pine River, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,993 (100%) |
| Owner Occupied HU | 1,602 (53.5%) |
| Renter Occupied HU | 390 (13.0%) |
| Vacant Housing Units | 1,001 (33.4%) |
| Median Home Value | $320,339 |
| Average Home Value | $411,657 |
Housing Distribution
Address Breakdown
Residential
2,231
Single Family
2,109
Multi-Family
122
Businesses
170
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Listed by: Benjamin Zaske • Heartland Real Estate
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7005442