655 1st St SEElginMN55932
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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
Rental property for sale in Elgin at 655 1st St SE, Elgin, MN, 55932 priced at $404,900 converts $840/mo rent into after a $1,982/mo obligation. Total monthly income equals $840/mo. Return on cash invested prints 4.81% in year one, and rental yield reads 2.49% against a $404,900 entry. Equity gained on principal adds $2,613/yr, while 5% annual appreciation compiles into $111,866 by year five. Five-year ROI reaches 21.97% and total cumulative return in cash sums $29,490. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $840/mo property income covering a $1,982/mo payment, not borrower’s personal income.
Single Family
Built in 2025
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55932, Elgin, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 806 (100%) |
| Owner Occupied HU | 634 (78.7%) |
| Renter Occupied HU | 127 (15.8%) |
| Vacant Housing Units | 45 ( 5.6%) |
| Median Home Value | $334,783 |
| Average Home Value | $408,486 |
Housing Distribution
Address Breakdown
Residential
629
Single Family
629
Multi-Family
0
Businesses
41
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