2324 Kelly AveCloquetMN55720
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 Cloquet at 2324 Kelly Ave, Cloquet, MN, 55720 offers a 9.23% rental yield on a $308,000 purchase with $2,370/mo rent. Total monthly income registers $2,370/mo, and a $1,508/mo payment leaves $431/mo available for distribution. Annual cash flow reaches $5,167/yr on $102,102 to close, and return on cash invested stands at 24.97% in year one. Equity gained on principal adds $1,987/yr while 5% annual appreciation supports $85,095 over five years. Portfolio math shows five-year ROI at 130.14% and total cumulative return in cash at $132,880. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,370/mo property income against a $1,508/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1955
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55720, Cloquet, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,398 (100%) |
| Owner Occupied HU | 5,008 (67.7%) |
| Renter Occupied HU | 1,902 (25.7%) |
| Vacant Housing Units | 488 ( 6.6%) |
| Median Home Value | $240,643 |
| Average Home Value | $286,656 |
Housing Distribution
Address Breakdown
Residential
7,214
Single Family
6,349
Multi-Family
865
Businesses
472
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nikki Crotteau • Welcome Home Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6117877
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.