1315 E Highway 61Grand MaraisMN55604
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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
Total monthly income runs $1,026/mo, and a $4,870/mo payment. Purchase price stands at $995,000, and rental yield measures 1.24% with $1,026/mo rent. Return on cash invested shows 1.05% in year one, and 5% annual appreciation builds toward $274,900 over five years. Five-year ROI reaches 1.72% and total cumulative return in cash records $5,634. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,026/mo property income covering a $4,870/mo payment rather than investor’s personal income.
Single Family
Built in 1990
1.15 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55604, Grand Marais, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,559 (100%) |
| Owner Occupied HU | 1,413 (39.7%) |
| Renter Occupied HU | 428 (12.0%) |
| Vacant Housing Units | 1,718 (48.3%) |
| Median Home Value | $352,639 |
| Average Home Value | $483,783 |
Housing Distribution
Address Breakdown
Residential
1,403
Single Family
1,281
Multi-Family
122
Businesses
229
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Listed by: Julie J. Carlson • Coldwell Banker North Shore
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6105906
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.