1470 E Highway 61Grand MaraisMN55604
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 Grand Marais at 1470 E Highway 61, Grand Marais, MN, 55604 listed at $1,195,000 pairs $2,144/mo rent with a $5,849/mo payment. Total monthly income runs $2,144/mo. Return on cash invested measures 3.89% in year one, and rental yield registers 2.15% at a $1,195,000 basis. Equity gained on principal adds $7,711/yr, and annual property appreciation at 5% supports $330,156 by year five. Five-year ROI tracks 16.9% and total cumulative return in cash totals $65,426. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,144/mo property income relative to a $5,849/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1976
3.14 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Terry Backlund • Backlund Realty LLC
Mls Name: Lake Superior Area Realtors
Mls ID: #6122696