223 N 6th AveProctorMN55810
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 Proctor at 223 N 6th Ave, Proctor, MN, 55810 uses $38,089 cash to close to unlock $16,734/yr annual cash flow and $1,394/mo monthly cash flow. Total monthly income runs $2,148/mo, and a $562/mo payment keeps the spread at $1,394/mo. Purchase price stands at $114,900, and rental yield measures 22.43% with $2,148/mo rent. Return on cash invested shows 63.84% in year one, and 5% annual appreciation builds toward $31,745 over five years. Five-year ROI reaches 339% and total cumulative return in cash records $129,122. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,148/mo property income covering a $562/mo payment rather than investor’s personal income.
Single Family
Built in 1920
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55810, Duluth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,952 (100%) |
| Owner Occupied HU | 3,299 (83.5%) |
| Renter Occupied HU | 471 (11.9%) |
| Vacant Housing Units | 182 ( 4.6%) |
| Median Home Value | $323,129 |
| Average Home Value | $333,484 |
Housing Distribution
Address Breakdown
Residential
3,790
Single Family
3,551
Multi-Family
239
Businesses
190
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Nearby investment properties with comparable prices
Listed by: Michelle Lyons • Port Cities Realty, LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116052
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.