802 3rd AveHeron LakeMN56137
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
Rental property for sale in Heron Lake at 802 3rd Ave, Heron Lake, MN, 56137 generates $1,936/mo in rent and, after a $1,126/mo payment, leaves $500/mo in cash flow. Total monthly income is $1,936/mo, and annual cash flow is $5,994/yr on $76,245 invested. Return on cash invested sits at 27.77% in year one, and rental yield is 10.1% on a $230,000 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 145.1% and total cumulative return in cash sums $110,635. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,936/mo property income rather than buyer’s personal income.
Single Family
Built in 1915
8,189 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56137, Heron Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 488 (100%) |
| Owner Occupied HU | 382 (78.3%) |
| Renter Occupied HU | 58 (11.9%) |
| Vacant Housing Units | 48 ( 9.8%) |
| Median Home Value | $172,596 |
| Average Home Value | $223,096 |
Housing Distribution
Address Breakdown
Residential
350
Single Family
323
Multi-Family
27
Businesses
25
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Danielle Rossow • EXIT Realty - Great Plains
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7000524