708 Spruce StFergus FallsMN56537
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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 Fergus Falls at 708 Spruce St, Fergus Falls, MN, 56537 uses $39,780 cash to close to unlock $3,972/yr annual cash flow and $331/mo monthly cash flow. Total monthly income runs $1,080/mo, and a $587/mo payment keeps the spread at $331/mo. Purchase price stands at $120,000, and rental yield measures 10.8% with $1,080/mo rent. Return on cash invested shows 29.89% in year one, and 5% annual appreciation builds toward $33,154 over five years. Five-year ROI reaches 156.43% and total cumulative return in cash records $62,227. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,080/mo property income covering a $587/mo payment rather than investor’s personal income.
Single Family
Built in 1938
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56537, Fergus Falls, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,307 (100%) |
| Owner Occupied HU | 5,712 (61.4%) |
| Renter Occupied HU | 2,527 (27.2%) |
| Vacant Housing Units | 1,068 (11.5%) |
| Median Home Value | $267,806 |
| Average Home Value | $335,968 |
Housing Distribution
Address Breakdown
Residential
8,831
Single Family
7,325
Multi-Family
1,506
Businesses
704
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Listed by: Bruce A. Fuhrman • RE/MAX Advantage Plus
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6813149