2224 2nd Ave WHibbingMN55746
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 Hibbing at 2224 2nd Ave W, Hibbing, MN, 55746 earns $681/mo cash flow from $1,712/mo rent with a $808/mo payment. Total monthly income totals $1,712/mo, and annual cash flow totals $8,175/yr on $54,698 capital. ROI tracks 34.85% on current figures, and rental yield reads 12.45% at a $165,000 purchase. Equity gained on principal adds $1,065/yr, and 5% annual appreciation supports $45,586 over five years. Five-year ROI reaches 183.14% and total cumulative return in cash sums $100,175. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,712/mo property income instead of your personal income.
Single Family
Built in 1925
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55746, Hibbing, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,961 (100%) |
| Owner Occupied HU | 5,525 (61.7%) |
| Renter Occupied HU | 2,367 (26.4%) |
| Vacant Housing Units | 1,069 (11.9%) |
| Median Home Value | $169,966 |
| Average Home Value | $254,265 |
Housing Distribution
Address Breakdown
Residential
8,201
Single Family
7,060
Multi-Family
1,141
Businesses
720
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Listed by: Darcie Rae Novak • My Place Realty, Inc.
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6115686
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.