66023 County Road 24NorthomeMN56661
INVESTMENT ANALYSIS
Investment Verdict
Solid Income66023 County Road 24, Northome, MN, 56661 in Northome earns a respectable 8.27% gross yield at $209,000, but after the $940/mo mortgage the net cash flow is $129/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (1.53) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $57,743 over five years, making equity the dominant return driver. Total projected return: $87,686.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 7.5% |
| Monthly Cash Flow | $129 | $350 |
City averages based on Northome market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,441 |
| Total Monthly Debt Service | $1,229 |
| DSCR Ratio | 1.17x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 N/A
6 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56661, Northome, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 691 (100%) |
| Owner Occupied HU | 331 (47.9%) |
| Renter Occupied HU | 43 ( 6.2%) |
| Vacant Housing Units | 317 (45.9%) |
| Median Home Value | $207,738 |
| Average Home Value | $261,601 |
Housing Distribution
Address Breakdown
Residential
344
Single Family
334
Multi-Family
10
Businesses
42
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 N/A
6 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56661, Northome, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 691 (100%) |
| Owner Occupied HU | 331 (47.9%) |
| Renter Occupied HU | 43 ( 6.2%) |
| Vacant Housing Units | 317 (45.9%) |
| Median Home Value | $207,738 |
| Average Home Value | $261,601 |
Housing Distribution
Address Breakdown
Residential
344
Single Family
334
Multi-Family
10
Businesses
42
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices