6341 16th Ave SRichfieldMN55423
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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 Richfield at 6341 16th Ave S, Richfield, MN, 55423 uses $162,402 cash to close to unlock $1,388/yr annual cash flow and $116/mo monthly cash flow. Total monthly income runs $3,175/mo, and a $2,398/mo payment keeps the spread at $116/mo. Purchase price stands at $489,900, and rental yield measures 7.78% with $3,175/mo rent. Return on cash invested shows 20.76% in year one, and 5% annual appreciation builds toward $135,350 over five years. Five-year ROI reaches 107.49% and total cumulative return in cash records $174,569. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,175/mo property income covering a $2,398/mo payment rather than investor’s personal income.
Townhouse
Built in 2021
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55423, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,808 (100%) |
| Owner Occupied HU | 9,381 (52.7%) |
| Renter Occupied HU | 7,341 (41.2%) |
| Vacant Housing Units | 1,086 ( 6.1%) |
| Median Home Value | $351,679 |
| Average Home Value | $389,345 |
Housing Distribution
Address Breakdown
Residential
16,892
Single Family
10,466
Multi-Family
6,426
Businesses
704
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