2024 Highway 61Two HarborsMN55616
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
Rental property for sale in Two Harbors at 2024 Highway 61, Two Harbors, MN, 55616 generates $3,110/mo in rent, after a $5,873/mo payment. Total monthly income is $3,110/mo. Return on cash invested sits at 6.84% in year one, and rental yield is 3.11% on a $1,200,000 entry. Equity gained on principal adds $7,743/yr, while 5% annual appreciation builds toward $331,538 over five years. Five-year ROI reaches 32.74% and total cumulative return in cash sums $127,307. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,110/mo property income rather than buyer’s personal income.
Single Family
Built in 1988
2.72 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55616, Two Harbors, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,331 (100%) |
| Owner Occupied HU | 2,594 (59.9%) |
| Renter Occupied HU | 623 (14.4%) |
| Vacant Housing Units | 1,114 (25.7%) |
| Median Home Value | $291,129 |
| Average Home Value | $327,777 |
Housing Distribution
Address Breakdown
Residential
3,287
Single Family
3,073
Multi-Family
214
Businesses
253
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sue Bott • RE/MAX Professionals - Two Harbors
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6118751
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.