2260 Gold Mine RdElyMN55731
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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
Rental property for sale in Ely at 2260 Gold Mine Rd, Ely, MN, 55731 generates $1,162/mo in rent and, after a $732/mo payment, leaves $228/mo in cash flow. Total monthly income is $1,162/mo, and annual cash flow is $2,738/yr on $49,559 invested. Return on cash invested sits at 25.43% in year one, and rental yield is 9.33% on a $149,500 entry. Equity gained on principal adds $965/yr, while 5% annual appreciation builds toward $41,304 over five years. Five-year ROI reaches 132.63% and total cumulative return in cash sums $65,729. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,162/mo property income rather than buyer’s personal income.
Single Family
Built in 2002
30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55731, Ely, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,875 (100%) |
| Owner Occupied HU | 2,036 (41.8%) |
| Renter Occupied HU | 675 (13.8%) |
| Vacant Housing Units | 2,164 (44.4%) |
| Median Home Value | $269,626 |
| Average Home Value | $319,896 |
Housing Distribution
Address Breakdown
Residential
3,274
Single Family
3,079
Multi-Family
195
Businesses
379
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Listed by: Jeff Hway • Bear Island Realty LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119658
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 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.