1735 E Highway 61Grand MaraisMN55604
Nearby investment properties with comparable rents
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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 Grand Marais at 1735 E Highway 61, Grand Marais, MN, 55604 uses $117,683 cash to close to unlock $177/yr annual cash flow and $15/mo monthly cash flow. Total monthly income runs $2,232/mo, and a $1,738/mo payment keeps the spread at $15/mo. Purchase price stands at $355,000, and rental yield measures 7.54% with $2,232/mo rent. Return on cash invested shows 20.06% in year one, and 5% annual appreciation builds toward $98,080 over five years. Five-year ROI reaches 103.72% and total cumulative return in cash records $122,064. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,232/mo property income covering a $1,738/mo payment rather than investor’s personal income.
Single Family
Built in 1957
1.11 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
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Listed by: Terry Backlund • Backlund Realty LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6120884
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-23 22:07:31 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)