1002 Prospect AveCloquetMN55720
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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
Investment property for sale in Cloquet at 1002 Prospect Ave, Cloquet, MN, 55720 uses $79,229 cash to close to unlock $10,528/yr annual cash flow and $877/mo monthly cash flow. Total monthly income runs $2,370/mo, and a $1,170/mo payment keeps the spread at $877/mo. Purchase price stands at $239,000, and rental yield measures 11.9% with $2,370/mo rent. Return on cash invested shows 33.2% in year one, and 5% annual appreciation builds toward $66,031 over five years. Five-year ROI reaches 174.23% and total cumulative return in cash records $138,036. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,370/mo property income covering a $1,170/mo payment rather than investor’s personal income.
Single Family
Built in 1920
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55720, Cloquet, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,398 (100%) |
| Owner Occupied HU | 5,008 (67.7%) |
| Renter Occupied HU | 1,902 (25.7%) |
| Vacant Housing Units | 488 ( 6.6%) |
| Median Home Value | $240,643 |
| Average Home Value | $286,656 |
Housing Distribution
Address Breakdown
Residential
7,214
Single Family
6,349
Multi-Family
865
Businesses
472
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