639 3rd StHancockMN56244
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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 Hancock at 639 3rd St, Hancock, MN, 56244 uses $38,123 cash to close to unlock $2,445/yr annual cash flow and $204/mo monthly cash flow. Total monthly income runs $922/mo, and a $563/mo payment keeps the spread at $204/mo. Purchase price stands at $115,000, and rental yield measures 9.62% with $922/mo rent. Return on cash invested shows 26.32% in year one, and 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 137.33% and total cumulative return in cash records $52,353. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $922/mo property income covering a $563/mo payment rather than investor’s personal income.
Single Family
Built in 1942
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56244, Hancock, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 616 (100%) |
| Owner Occupied HU | 472 (76.6%) |
| Renter Occupied HU | 118 (19.2%) |
| Vacant Housing Units | 26 ( 4.2%) |
| Median Home Value | $215,789 |
| Average Home Value | $286,499 |
Housing Distribution
Address Breakdown
Residential
570
Single Family
537
Multi-Family
33
Businesses
34
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