6831 247th Hwy NEElginMN55932
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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 Elgin at 6831 247th Hwy NE, Elgin, MN, 55932 generates $2,922/mo in rent and, after a $2,105/mo payment, leaves $237/mo in cash flow. Total monthly income is $2,922/mo, and annual cash flow is $2,838/yr on $142,545 invested. Return on cash invested sits at 21.9% in year one, and rental yield is 8.15% on a $430,000 entry. Equity gained on principal adds $2,775/yr, while 5% annual appreciation builds toward $118,801 over five years. Five-year ROI reaches 113.6% and total cumulative return in cash sums $161,931. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,922/mo property income rather than buyer’s personal income.
Single Family
Built in 2002
1.03 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55932, Elgin, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 806 (100%) |
| Owner Occupied HU | 634 (78.7%) |
| Renter Occupied HU | 127 (15.8%) |
| Vacant Housing Units | 45 ( 5.6%) |
| Median Home Value | $334,783 |
| Average Home Value | $408,486 |
Housing Distribution
Address Breakdown
Residential
629
Single Family
629
Multi-Family
0
Businesses
41
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