118-124 E Lakeview DrSilver BayMN55614
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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 Silver Bay at 118-124 E Lakeview Dr, Silver Bay, MN, 55614 earns from $1,800/mo rent with a $3,788/mo payment. Total monthly income totals $1,800/mo. ROI tracks 5.77% on current figures, and rental yield reads 2.79% at a $774,000 purchase. Equity gained on principal adds $4,995/yr, and 5% annual appreciation supports $213,842 over five years. Five-year ROI reaches 27.07% and total cumulative return in cash sums $68,921. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,800/mo property income instead of your personal income.
Single Family
Built in 2024
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55614, Silver Bay, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,471 (100%) |
| Owner Occupied HU | 965 (65.6%) |
| Renter Occupied HU | 168 (11.4%) |
| Vacant Housing Units | 338 (23.0%) |
| Median Home Value | $216,209 |
| Average Home Value | $325,624 |
Housing Distribution
Address Breakdown
Residential
1,222
Single Family
1,179
Multi-Family
43
Businesses
74
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Listed by: Lauren E Anderson • Solutions Real Estate LLC
Mls Name: Lake Superior Area Realtors
Mls ID: #6122237