809 Van Dyke RdAlexandriaMN56308
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 809 Van Dyke Rd, Alexandria, MN, 56308 in Alexandria. Rental yield 5.83%. At $455,000 with 5.83% gross yield, current distributions are modest, but the 5% appreciation rate projects $125,708 in new equity by year five, complemented by $4,191/yr in principal paydown. Ziffy Mortgage's DSCR loan (1.08) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $131,950.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.8% | 6.5% |
| Monthly Cash Flow | $(632) | $850 |
City averages based on Alexandria market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,209 |
| Total Monthly Debt Service | $2,660 |
| DSCR Ratio | 0.83x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Manufactured
Built in 2001
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56308, Alexandria, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,200 (100%) |
| Owner Occupied HU | 8,370 (55.1%) |
| Renter Occupied HU | 3,626 (23.9%) |
| Vacant Housing Units | 3,204 (21.1%) |
| Median Home Value | $381,523 |
| Average Home Value | $429,357 |
Housing Distribution
Address Breakdown
Residential
13,430
Single Family
10,722
Multi-Family
2,708
Businesses
1,290
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
Manufactured
Built in 2001
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56308, Alexandria, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,200 (100%) |
| Owner Occupied HU | 8,370 (55.1%) |
| Renter Occupied HU | 3,626 (23.9%) |
| Vacant Housing Units | 3,204 (21.1%) |
| Median Home Value | $381,523 |
| Average Home Value | $429,357 |
Housing Distribution
Address Breakdown
Residential
13,430
Single Family
10,722
Multi-Family
2,708
Businesses
1,290
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7075796