1322 W 2nd StEvelethMN55734
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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 Eveleth at 1322 W 2nd St, Eveleth, MN, 55734 generates $1,882/mo in rent and, after a $575/mo payment, leaves $1,148/mo in cash flow. Total monthly income is $1,882/mo, and annual cash flow is $13,780/yr on $38,951 invested. Return on cash invested sits at 55.29% in year one, and rental yield is 19.22% on a $117,500 entry. Equity gained on principal adds $758/yr, while 5% annual appreciation builds toward $32,463 over five years. Five-year ROI reaches 292.74% and total cumulative return in cash sums $114,026. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,882/mo property income rather than buyer’s personal income.
Single Family
Built in 1956
9,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55734, Eveleth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,304 (100%) |
| Owner Occupied HU | 2,114 (64.0%) |
| Renter Occupied HU | 628 (19.0%) |
| Vacant Housing Units | 562 (17.0%) |
| Median Home Value | $261,885 |
| Average Home Value | $293,444 |
Housing Distribution
Address Breakdown
Residential
2,906
Single Family
2,630
Multi-Family
276
Businesses
146
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Listed by: Paula Mackey • Laurentian Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6121045
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-29 02:57:27 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)