8704 Park Ave NEElk RiverMN55330
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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 Elk River at 8704 Park Ave NE, Elk River, MN, 55330 priced at $335,990 converts $2,851/mo rent into $506/mo cash flow after a $1,645/mo obligation. Total monthly income equals $2,851/mo, and annual cash flow totals $6,077/yr on $111,381 invested. Return on cash invested prints 25.36% in year one, and rental yield reads 10.18% against a $335,990 entry. Equity gained on principal adds $2,168/yr, while 5% annual appreciation compiles into $92,828 by year five. Five-year ROI reaches 133.16% and total cumulative return in cash sums $148,315. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,851/mo property income covering a $1,645/mo payment, not borrower’s personal income.
Townhouse
Built in 2022
174.24 sqft lot
$N/A/sqft
$246 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55330, Elk River, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,209 (100%) |
| Owner Occupied HU | 14,611 (80.2%) |
| Renter Occupied HU | 2,788 (15.3%) |
| Vacant Housing Units | 810 ( 4.4%) |
| Median Home Value | $390,674 |
| Average Home Value | $424,407 |
Housing Distribution
Address Breakdown
Residential
17,307
Single Family
15,298
Multi-Family
2,009
Businesses
1,116
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Listed by: Shelby Burgess • Lennar Sales Corp
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6658055
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