720 3rd Ave NE APT 319MinneapolisMN55413
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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
Rental property for sale in Minneapolis at 720 3rd Ave NE APT 319, Minneapolis, MN, 55413 generates $1,295/mo in rent and, after a $808/mo payment, leaves $264/mo in cash flow. Total monthly income is $1,295/mo, and annual cash flow is $3,171/yr on $54,698 invested. Return on cash invested sits at 25.71% in year one, and rental yield is 9.42% on a $165,000 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation builds toward $45,586 over five years. Five-year ROI reaches 134.07% and total cumulative return in cash sums $73,331. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,295/mo property income rather than buyer’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55413, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,900 (100%) |
| Owner Occupied HU | 2,427 (27.3%) |
| Renter Occupied HU | 5,696 (64.0%) |
| Vacant Housing Units | 777 ( 8.7%) |
| Median Home Value | $414,862 |
| Average Home Value | $485,616 |
Housing Distribution
Address Breakdown
Residential
8,225
Single Family
3,774
Multi-Family
4,451
Businesses
1,197
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Listed by: Sheila L Berent • TheMLSonline.com, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7013421