624 2nd Ave SEPelican RapidsMN56572
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 Pelican Rapids at 624 2nd Ave SE, Pelican Rapids, MN, 56572 generates $2,538/mo in rent and, after a $1,074/mo payment, leaves $1,137/mo in cash flow. Total monthly income is $2,538/mo, and annual cash flow is $13,648/yr on $72,764 invested. Return on cash invested sits at 38.67% in year one, and rental yield is 13.88% on a $219,500 entry. Equity gained on principal adds $1,416/yr, while 5% annual appreciation builds toward $60,644 over five years. Five-year ROI reaches 203.72% and total cumulative return in cash sums $148,234. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,538/mo property income rather than buyer’s personal income.
Single Family
Built in 1898
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56572, Pelican Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,171 (100%) |
| Owner Occupied HU | 1,890 (45.3%) |
| Renter Occupied HU | 469 (11.2%) |
| Vacant Housing Units | 1,812 (43.4%) |
| Median Home Value | $364,686 |
| Average Home Value | $430,345 |
Housing Distribution
Address Breakdown
Residential
2,463
Single Family
2,300
Multi-Family
163
Businesses
191
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Listed by: Vaun Bruhn • New Horizons Realty Of Perham
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6580709
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