14 E James StElyMN55731
Nearby investment properties with comparable rents
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 Ely at 14 E James St, Ely, MN, 55731 uses $73,925 cash to close to unlock $4,944/yr annual cash flow and $412/mo monthly cash flow. Total monthly income runs $1,949/mo, and a $1,091/mo payment keeps the spread at $412/mo. Purchase price stands at $223,000, and rental yield measures 10.49% with $1,949/mo rent. Return on cash invested shows 26.6% in year one, and 5% annual appreciation builds toward $61,611 over five years. Five-year ROI reaches 139.62% and total cumulative return in cash records $103,217. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,949/mo property income covering a $1,091/mo payment rather than investor’s personal income.
Single Family
Built in 1925
3,920 sqft 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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Nearby investment properties with comparable prices
Listed by: Joseph Tome • Grand Properties
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6117286
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 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.