209 1st Ave E #5Grand MaraisMN55604
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
Investment property for sale in Grand Marais at 209 1st Ave E #5, Grand Marais, MN, 55604 listed at $305,000 pairs $1,733/mo rent with a $1,493/mo payment. Total monthly income runs $1,733/mo. Return on cash invested measures 13.32% in year one, and rental yield registers 6.82% at a $305,000 basis. Equity gained on principal adds $1,968/yr, and annual property appreciation at 5% supports $84,266 by year five. Five-year ROI tracks 69.29% and total cumulative return in cash totals $70,054. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,733/mo property income relative to a $1,493/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1984
0.70 Acres lot
$N/A/sqft
$383 monthly 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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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: #6120036
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-25 03:47:17 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)