1755 E Highway 61Grand MaraisMN55604
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 1755 E Highway 61, Grand Marais, MN, 55604 in Grand Marais is capital appreciation. Rental yield 2.35%. The 2.35% gross yield at $524,900 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $145,020 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.43) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $54,307.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.4% | 6.0% |
| Monthly Cash Flow | $(2,252) | $250 |
City averages based on Grand Marais market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,026 |
| Total Monthly Debt Service | $3,069 |
| DSCR Ratio | 0.33x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2003
2 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
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
Single Family
Built in 2003
2 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: Virginia Detrick Palmer • Coldwell Banker North Shore
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119046
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.