815 NW 3rd AveGrand RapidsMN55744
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 815 NW 3rd Ave, Grand Rapids, MN, 55744 in Grand Rapids speaks for itself: 11.9% gross on a $154,900 price, generating $1,536/mo in rent and $569/mo in net income after the $697/mo debt service. DSCR 2.20, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,825 stacks alongside $42,796 in projected five-year appreciation and $1,427/yr in principal reduction. Projected total cumulative return: $95,349.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 8.0% |
| Monthly Cash Flow | $569 | $150 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,536 |
| Total Monthly Debt Service | $906 |
| DSCR Ratio | 1.70x |
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.
Manufactured
Built in 1985
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55744, Grand Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,024 (100%) |
| Owner Occupied HU | 6,248 (62.3%) |
| Renter Occupied HU | 2,270 (22.6%) |
| Vacant Housing Units | 1,506 (15.0%) |
| Median Home Value | $288,056 |
| Average Home Value | $348,710 |
Housing Distribution
Address Breakdown
Residential
9,649
Single Family
8,369
Multi-Family
1,280
Businesses
945
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 1985
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55744, Grand Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,024 (100%) |
| Owner Occupied HU | 6,248 (62.3%) |
| Renter Occupied HU | 2,270 (22.6%) |
| Vacant Housing Units | 1,506 (15.0%) |
| Median Home Value | $288,056 |
| Average Home Value | $348,710 |
Housing Distribution
Address Breakdown
Residential
9,649
Single Family
8,369
Multi-Family
1,280
Businesses
945
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: JEFFREY DICK • EDGE OF THE WILDERNESS REALTY
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6819470