1317 N Highway 21ElyMN55731
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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 1317 N Highway 21, Ely, MN, 55731 generates $3,151/mo in rent and, after a $1,713/mo payment, leaves $966/mo in cash flow. Total monthly income is $3,151/mo, and annual cash flow is $11,586/yr on $116,025 invested. Return on cash invested sits at 29.89% in year one, and rental yield is 10.8% on a $350,000 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 156.47% and total cumulative return in cash sums $181,550. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,151/mo property income rather than buyer’s personal income.
Single Family
Built in 1998
23 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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Listed by: Andrea Zupancich • Z' Up North Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6117678
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-25 05:42:21 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#939)