2398 Highway 169ElyMN55731
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 Ely at 2398 Highway 169, Ely, MN, 55731 earns $220/mo cash flow from $2,374/mo rent with a $1,688/mo payment. Total monthly income totals $2,374/mo, and annual cash flow totals $2,645/yr on $114,334 capital. ROI tracks 22.22% on current figures, and rental yield reads 8.26% at a $344,900 purchase. Equity gained on principal adds $2,226/yr, and 5% annual appreciation supports $95,290 over five years. Five-year ROI reaches 115.33% and total cumulative return in cash sums $131,865. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,374/mo property income instead of your personal income.
Single Family
Built in 1972
2 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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Nearby investment properties with comparable prices
Listed by: Jerry Fink • Canoe Capital Realty, LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116450
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.