704 Elmwood Rd UNIT 7Devils LakeND58301
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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 Devils Lake at 704 Elmwood Rd UNIT 7, Devils Lake, ND, 58301 at $265,000 posts ROI 23.35% with $252/mo cash flow from $1,865/mo rent. Total monthly income equals $1,865/mo, and annual cash flow records $3,027/yr on $87,848 to close. Return on cash invested measures 23.35% and rental yield reads 8.45% at the current $265,000. Equity gained on principal adds $1,710/yr, and 5% annual appreciation supports $73,215 by year five. Five-year ROI prints 121.22% and total cumulative return in cash totals $106,491.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,865/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58301, Devils Lake, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,184 (100%) |
| Owner Occupied HU | 2,704 (52.2%) |
| Renter Occupied HU | 1,723 (33.2%) |
| Vacant Housing Units | 757 (14.6%) |
| Median Home Value | $244,033 |
| Average Home Value | $272,981 |
Housing Distribution
Address Breakdown
Residential
4,650
Single Family
3,669
Multi-Family
981
Businesses
657
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Listed by: Kevin Osborne • High Valley Real Estate
Mls Name: My State MLS
Mls ID: #11471756