1033 E Harvey StElyMN55731
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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 Ely at 1033 E Harvey St, Ely, MN, 55731 generates $1,792/mo in rent and, after a $925/mo payment, leaves $612/mo in cash flow. Total monthly income is $1,792/mo, and annual cash flow is $7,342/yr on $62,654 invested. Return on cash invested sits at 31.63% in year one, and rental yield is 11.38% on a $189,000 entry. Equity gained on principal adds $1,220/yr, while 5% annual appreciation builds toward $52,217 over five years. Five-year ROI reaches 165.77% and total cumulative return in cash sums $103,858. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,792/mo property income rather than buyer’s personal income.
Single Family
Built in 1938
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55731, Ely, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,875 (100%) |
| Owner Occupied HU | 2,036 (41.8%) |
| Renter Occupied HU | 675 (13.8%) |
| Vacant Housing Units | 2,164 (44.4%) |
| Median Home Value | $269,626 |
| Average Home Value | $319,896 |
Housing Distribution
Address Breakdown
Residential
3,274
Single Family
3,079
Multi-Family
195
Businesses
379
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