717 S Shore DrDetroit LakesMN56501
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
Investment property for sale in Detroit Lakes at 717 S Shore Dr, Detroit Lakes, MN, 56501 at $465,000 posts ROI 30% with $1,296/mo cash flow from $4,200/mo rent. Total monthly income equals $4,200/mo, and annual cash flow records $15,555/yr on $154,148 to close. Return on cash invested measures 30% and rental yield reads 10.84% at the current $465,000. Equity gained on principal adds $3,001/yr, and 5% annual appreciation supports $128,471 by year five. Five-year ROI prints 157.05% and total cumulative return in cash totals $242,087.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $4,200/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 2001
0.44 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56501, Detroit Lakes, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,550 (100%) |
| Owner Occupied HU | 5,565 (52.7%) |
| Renter Occupied HU | 2,196 (20.8%) |
| Vacant Housing Units | 2,789 (26.4%) |
| Median Home Value | $357,335 |
| Average Home Value | $436,261 |
Housing Distribution
Address Breakdown
Residential
8,830
Single Family
7,427
Multi-Family
1,403
Businesses
614
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Listed by: Tracy Juve • Juve Real Estate
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6708985