22 Evans CirSilver BayMN55614
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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 Silver Bay at 22 Evans Cir, Silver Bay, MN, 55614 uses $76,245 cash to close to unlock $4,362/yr annual cash flow and $364/mo monthly cash flow. Total monthly income runs $1,800/mo, and a $1,126/mo payment keeps the spread at $364/mo. Purchase price stands at $230,000, and rental yield measures 9.39% with $1,800/mo rent. Return on cash invested shows 25.63% in year one, and 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 133.63% and total cumulative return in cash records $101,887. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,800/mo property income covering a $1,126/mo payment rather than investor’s personal income.
Single Family
Built in 1956
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55614, Silver Bay, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,471 (100%) |
| Owner Occupied HU | 965 (65.6%) |
| Renter Occupied HU | 168 (11.4%) |
| Vacant Housing Units | 338 (23.0%) |
| Median Home Value | $216,209 |
| Average Home Value | $325,624 |
Housing Distribution
Address Breakdown
Residential
1,222
Single Family
1,179
Multi-Family
43
Businesses
74
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Listed by: Lisa Michalski • Edina Realty, Inc. - Duluth
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6114841
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 2024 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.