1063 Fernberg RdElyMN55731
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
Investment Highlights
Investment property for sale in Ely at 1063 Fernberg Rd, Ely, MN, 55731 listed at $425,000 pairs $2,990/mo rent with a $2,080/mo payment to leave $336/mo cash flow. Total monthly income runs $2,990/mo, and annual cash flow reaches $4,035/yr on $140,888 cash to close. Return on cash invested measures 22.77% in year one, and rental yield registers 8.44% at a $425,000 basis. Equity gained on principal adds $2,742/yr, and annual property appreciation at 5% supports $117,420 by year five. Five-year ROI tracks 118.29% and total cumulative return in cash totals $166,661. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,990/mo property income relative to a $2,080/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2006
19.57 Acres 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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Nearby investment properties with comparable prices
Listed by: Andrea Zupancich • Z' Up North Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6120661
Disclaimer: Information is supplied by seller and other third parties and has not been verified. Open House information is subject to change without notice. Copyright 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.