24 Green LnSilver BayMN55614
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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
Investment property for sale in Silver Bay at 24 Green Ln, Silver Bay, MN, 55614 uses $46,079 cash to close to unlock $2,392/yr annual cash flow and $199/mo monthly cash flow. Total monthly income runs $1,067/mo, and a $680/mo payment keeps the spread at $199/mo. Purchase price stands at $139,000, and rental yield measures 9.21% with $1,067/mo rent. Return on cash invested shows 25.1% in year one, and 5% annual appreciation builds toward $38,403 over five years. Five-year ROI reaches 130.8% and total cumulative return in cash records $60,272. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,067/mo property income covering a $680/mo payment rather than investor’s personal income.
Single Family
Built in 1954
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55614, Silver Bay, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,471 (100%) |
| Owner Occupied HU | 965 (65.6%) |
| Renter Occupied HU | 168 (11.4%) |
| Vacant Housing Units | 338 (23.0%) |
| Median Home Value | $216,209 |
| Average Home Value | $325,624 |
Housing Distribution
Address Breakdown
Residential
1,222
Single Family
1,179
Multi-Family
43
Businesses
74
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Listed by: Gigi Maxwell • Legacy Real Estate Group LLC
Mls Name: Lake Superior Area Realtors
Mls ID: #6123076