2 Thompson Park DrGrand MaraisMN55604
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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
Rental property for sale in Grand Marais at 2 Thompson Park Dr, Grand Marais, MN, 55604 generates $1,578/mo in rent, after a $2,100/mo payment. Total monthly income is $1,578/mo. Return on cash invested sits at 10.62% in year one, and rental yield is 4.41% on a $429,000 entry. Equity gained on principal adds $2,768/yr, while 5% annual appreciation builds toward $118,525 over five years. Five-year ROI reaches 53.08% and total cumulative return in cash sums $75,493. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,578/mo property income rather than buyer’s personal income.
Condo
Built in 1997
5.93 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: Susan Nichols • Red Pine Realty
Mls Name: Lake Superior Area Realtors
Mls ID: #6121403