6615 Lake Shore Dr S APT 410MinneapolisMN55423
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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 Minneapolis at 6615 Lake Shore Dr S APT 410, Minneapolis, MN, 55423 uses $39,747 cash to close to unlock $2,378/yr annual cash flow and $198/mo monthly cash flow. Total monthly income runs $947/mo, and a $587/mo payment keeps the spread at $198/mo. Purchase price stands at $119,900, and rental yield measures 9.48% with $947/mo rent. Return on cash invested shows 25.89% in year one, and 5% annual appreciation builds toward $33,126 over five years. Five-year ROI reaches 135.1% and total cumulative return in cash records $53,700. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $947/mo property income covering a $587/mo payment rather than investor’s personal income.
Condo
Built in 1983
3.77 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: Jeremiah Bouley • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6759535