6615 Lake Shore Dr S APT 604MinneapolisMN55423
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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 604, Minneapolis, MN, 55423 listed at $148,500 pairs $1,528/mo rent with a $727/mo payment to leave $601/mo cash flow. Total monthly income runs $1,528/mo, and annual cash flow reaches $7,206/yr on $49,228 cash to close. Return on cash invested measures 34.55% in year one, and rental yield registers 12.35% at a $148,500 basis. Equity gained on principal adds $958/yr, and annual property appreciation at 5% supports $41,028 by year five. Five-year ROI tracks 181.44% and total cumulative return in cash totals $89,319. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,528/mo property income relative to a $727/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1983
N/A 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: Kate Voller Reinking • Edina Realty, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6781334