819 2nd AveHoraceND58047
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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 Horace at 819 2nd Ave, Horace, ND, 58047 offers $2,764/mo rent that, after a $1,370/mo payment, leaves $1,060/mo cash flow. Total monthly income is $2,764/mo, and annual cash flow is $12,726/yr on $92,777 cash. Return on cash invested measures 33.63% in year one, and rental yield stands at 11.85% at a $279,870 entry. Equity gained on principal adds $1,806/yr while 5% annual appreciation compounds into $77,323 by year five. Five-year ROI records 176.29% and total cumulative return in cash reaches $163,552. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,764/mo property income versus a $1,370/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 2023
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58047, Horace, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,417 (100%) |
| Owner Occupied HU | 2,024 (83.7%) |
| Renter Occupied HU | 153 ( 6.3%) |
| Vacant Housing Units | 240 ( 9.9%) |
| Median Home Value | $468,689 |
| Average Home Value | $542,473 |
Housing Distribution
Address Breakdown
Residential
2,136
Single Family
2,130
Multi-Family
6
Businesses
137
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Listed by: Nate Anderson • Thomsen Homes
Mls Name: FMARMLS
Mls Provider:
Mls ID: #7427828
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.