65 Cabin Area #3ElginND58533
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 5.43% gross rental yield, 65 Cabin Area #3, Elgin, ND, 58533 in Elgin is priced for capital growth, not immediate cash flow. The $199,900 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $55,229 by year five, with $1,841/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (1.01) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $41,858.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 5.4% | 6.2% |
| Monthly Cash Flow | $(542) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $905 |
| Total Monthly Debt Service | $1,367 |
| DSCR Ratio | 0.66x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1940
N/A lot
$N/A/sqft
$2,760 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58533, Elgin, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 549 (100%) |
| Owner Occupied HU | 326 (59.4%) |
| Renter Occupied HU | 66 (12.0%) |
| Vacant Housing Units | 157 (28.6%) |
| Median Home Value | $118,000 |
| Average Home Value | $198,827 |
Housing Distribution
Address Breakdown
Residential
382
Single Family
346
Multi-Family
36
Businesses
58
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
Single Family
Built in 1940
N/A lot
$N/A/sqft
$2,760 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58533, Elgin, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 549 (100%) |
| Owner Occupied HU | 326 (59.4%) |
| Renter Occupied HU | 66 (12.0%) |
| Vacant Housing Units | 157 (28.6%) |
| Median Home Value | $118,000 |
| Average Home Value | $198,827 |
Housing Distribution
Address Breakdown
Residential
382
Single Family
346
Multi-Family
36
Businesses
58
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: GREG T T GERHART • BIANCO REALTY, INC.
Mls Name: Great North MLS
Mls ID: #4020482
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.