704 Washington AveFairmontMN56031
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
Investment Highlights
Rental property for sale in Fairmont at 704 Washington Ave, Fairmont, MN, 56031 offers $1,515/mo rent that, after a $954/mo payment, leaves $298/mo cash flow. Total monthly income is $1,515/mo, and annual cash flow is $3,575/yr on $64,609 cash. Return on cash invested measures 25.44% in year one, and rental yield stands at 9.33% at a $194,900 entry. Equity gained on principal adds $1,258/yr while 5% annual appreciation compounds into $53,847 by year five. Five-year ROI records 132.58% and total cumulative return in cash reaches $85,659. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,515/mo property income versus a $954/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1958
0.20 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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