13 Field RdSilver BayMN55614
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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 Silver Bay at 13 Field Rd, Silver Bay, MN, 55614 generates $1,800/mo in rent and, after a $778/mo payment, leaves $807/mo in cash flow. Total monthly income is $1,800/mo, and annual cash flow is $9,688/yr on $52,709 invested. Return on cash invested sits at 38.29% in year one, and rental yield is 13.58% on a $159,000 entry. Equity gained on principal adds $1,026/yr, while 5% annual appreciation builds toward $43,929 over five years. Five-year ROI reaches 201.55% and total cumulative return in cash sums $106,236. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,800/mo property income rather than buyer’s personal income.
Single Family
Built in 1970
10,018 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: Lisa Michalski • Edina Realty, Inc. - Duluth
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116160
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 2024 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.