6898 Joseph StHoraceND58047
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 6898 Joseph St, Horace, ND, 58047 in Horace speaks for itself: 10.07% gross on a $350,480 price, generating $2,940/mo in rent and $807/mo in net income after the $1,576/mo debt service. DSCR 1.87, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,683 stacks alongside $96,831 in projected five-year appreciation and $3,228/yr in principal reduction. Projected total cumulative return: $184,700.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 6.5% |
| Monthly Cash Flow | $807 | $450 |
City averages based on Horace market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,940 |
| Total Monthly Debt Service | $1,994 |
| DSCR Ratio | 1.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2024
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58047, Horace, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,417 (100%) |
| Owner Occupied HU | 2,024 (83.7%) |
| Renter Occupied HU | 153 ( 6.3%) |
| Vacant Housing Units | 240 ( 9.9%) |
| Median Home Value | $468,689 |
| Average Home Value | $542,473 |
Housing Distribution
Address Breakdown
Residential
2,136
Single Family
2,130
Multi-Family
6
Businesses
137
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 2024
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58047, Horace, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,417 (100%) |
| Owner Occupied HU | 2,024 (83.7%) |
| Renter Occupied HU | 153 ( 6.3%) |
| Vacant Housing Units | 240 ( 9.9%) |
| Median Home Value | $468,689 |
| Average Home Value | $542,473 |
Housing Distribution
Address Breakdown
Residential
2,136
Single Family
2,130
Multi-Family
6
Businesses
137
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tyler L Walker • eXp Realty (219 WF)
Mls Name: FMARMLS
Mls Provider:
Mls ID: #6607502
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.