769 Lake Forest CirDetroit LakesMN56501
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe income profile at 769 Lake Forest Cir, Detroit Lakes, MN, 56501 in Detroit Lakes is straightforward: $415,900 in, $2,923/mo in rent, $326/mo out after debt service. The 8.43% gross yield and 1.56 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $114,906 by year five. With $3,830/yr in principal equity, the total cumulative return is projected at $178,799.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 6.5% |
| Monthly Cash Flow | $326 | $750 |
City averages based on Detroit Lakes market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,923 |
| Total Monthly Debt Service | $2,432 |
| DSCR Ratio | 1.20x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2009
0.26 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
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
Single Family
Built in 2009
0.26 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Shane Hayes • eXp Realty (4525 WBL)
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6782911