6710 Vernon Ave S APT 307MinneapolisMN55436
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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 6710 Vernon Ave S APT 307, Minneapolis, MN, 55436 uses $49,692 cash to close to unlock $2,864/yr annual cash flow and $239/mo monthly cash flow. Total monthly income runs $1,175/mo, and a $734/mo payment keeps the spread at $239/mo. Purchase price stands at $149,900, and rental yield measures 9.41% with $1,175/mo rent. Return on cash invested shows 25.67% in year one, and 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 133.85% and total cumulative return in cash records $66,515. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,175/mo property income covering a $734/mo payment rather than investor’s personal income.
Condo
Built in 1972
8.90 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55436, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,505 (100%) |
| Owner Occupied HU | 4,496 (69.1%) |
| Renter Occupied HU | 1,513 (23.3%) |
| Vacant Housing Units | 496 ( 7.6%) |
| Median Home Value | $657,434 |
| Average Home Value | $747,332 |
Housing Distribution
Address Breakdown
Residential
6,457
Single Family
4,211
Multi-Family
2,246
Businesses
186
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Listed by: David Gutierrez • Pemberton RE
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7004361