6615 Lake Shore Dr S APT 403MinneapolisMN55423
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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 Minneapolis at 6615 Lake Shore Dr S APT 403, Minneapolis, MN, 55423 generates $844/mo in rent and, after a $524/mo payment, leaves $176/mo in cash flow. Total monthly income is $844/mo, and annual cash flow is $2,107/yr on $35,471 invested. Return on cash invested sits at 25.85% in year one, and rental yield is 9.47% on a $107,000 entry. Equity gained on principal adds $690/yr, while 5% annual appreciation builds toward $29,562 over five years. Five-year ROI reaches 134.87% and total cumulative return in cash sums $47,838. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $844/mo property income rather than buyer’s personal income.
Condo
Built in 1983
3.78 Acres 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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Listed by: Lisa A Wold • Lakes Area Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6653220