1609 16th Ave EHibbingMN55746
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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
Investment property for sale in Hibbing at 1609 16th Ave E, Hibbing, MN, 55746 offers a 15.92% rental yield on a $175,000 purchase with $2,322/mo rent. Total monthly income registers $2,322/mo, and a $857/mo payment leaves $1,229/mo available for distribution. Annual cash flow reaches $14,745/yr on $58,013 to close, and return on cash invested stands at 45.33% in year one. Equity gained on principal adds $1,129/yr while 5% annual appreciation supports $48,349 over five years. Portfolio math shows five-year ROI at 239.22% and total cumulative return in cash at $138,775. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,322/mo property income against a $857/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55746, Hibbing, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,961 (100%) |
| Owner Occupied HU | 5,525 (61.7%) |
| Renter Occupied HU | 2,367 (26.4%) |
| Vacant Housing Units | 1,069 (11.9%) |
| Median Home Value | $169,966 |
| Average Home Value | $254,265 |
Housing Distribution
Address Breakdown
Residential
8,201
Single Family
7,060
Multi-Family
1,141
Businesses
720
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Listed by: Robin Cicmil • Village Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119042
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.