2510 Smolen LnElyMN55731
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 2510 Smolen Ln, Ely, MN, 55731 listed at $379,000 pairs $2,362/mo rent with a $1,855/mo payment. Total monthly income runs $2,362/mo. Return on cash invested measures 19.86% in year one, and rental yield registers 7.48% at a $379,000 basis. Equity gained on principal adds $2,446/yr, and annual property appreciation at 5% supports $104,711 by year five. Five-year ROI tracks 102.69% and total cumulative return in cash totals $129,023. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,362/mo property income relative to a $1,855/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1978
3.45 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: #6114543
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.