22 Reed DrSilver BayMN55614
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 Silver Bay at 22 Reed Dr, Silver Bay, MN, 55614 offers a 8.72% rental yield on a $395,000 purchase with $2,870/mo rent. Total monthly income registers $2,870/mo, and a $1,933/mo payment leaves $404/mo available for distribution. Annual cash flow reaches $4,845/yr on $130,943 to close, and return on cash invested stands at 23.61% in year one. Equity gained on principal adds $2,549/yr while 5% annual appreciation supports $109,131 over five years. Portfolio math shows five-year ROI at 122.74% and total cumulative return in cash at $160,722. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,870/mo property income against a $1,933/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2021
0.30 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jon Chapek • Odyssey Real Estate Group
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6114492
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.