7602 Erie AveChanhassenMN55317
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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 Chanhassen at 7602 Erie Ave, Chanhassen, MN, 55317 generates $3,336/mo in rent and, after a $1,957/mo payment, leaves $839/mo in cash flow. Total monthly income is $3,336/mo, and annual cash flow is $10,070/yr on $132,567 invested. Return on cash invested sits at 27.5% in year one, and rental yield is 10.01% on a $399,900 entry. Equity gained on principal adds $2,580/yr, while 5% annual appreciation builds toward $110,485 over five years. Five-year ROI reaches 143.68% and total cumulative return in cash sums $190,472. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,336/mo property income rather than buyer’s personal income.
Single Family
Built in 1957
1.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55317, Chanhassen, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,594 (100%) |
| Owner Occupied HU | 6,898 (80.3%) |
| Renter Occupied HU | 1,476 (17.2%) |
| Vacant Housing Units | 220 ( 2.6%) |
| Median Home Value | $582,064 |
| Average Home Value | $660,906 |
Housing Distribution
Address Breakdown
Residential
8,864
Single Family
8,032
Multi-Family
832
Businesses
723
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Listed by: Terry L. Buchanan • Keller Williams Classic Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6783630