2826 Highway 61 UNIT 390Two HarborsMN55616
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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 Two Harbors at 2826 Highway 61 UNIT 390, Two Harbors, MN, 55616 listed at $209,000 pairs $1,465/mo rent with a $1,023/mo payment to leave $160/mo cash flow. Total monthly income runs $1,465/mo, and annual cash flow reaches $1,918/yr on $69,284 cash to close. Return on cash invested measures 22.68% in year one, and rental yield registers 8.41% at a $209,000 basis. Equity gained on principal adds $1,349/yr, and annual property appreciation at 5% supports $57,743 by year five. Five-year ROI tracks 117.74% and total cumulative return in cash totals $81,578. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,465/mo property income relative to a $1,023/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2007
1,363 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55616, Two Harbors, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,331 (100%) |
| Owner Occupied HU | 2,594 (59.9%) |
| Renter Occupied HU | 623 (14.4%) |
| Vacant Housing Units | 1,114 (25.7%) |
| Median Home Value | $291,129 |
| Average Home Value | $327,777 |
Housing Distribution
Address Breakdown
Residential
3,287
Single Family
3,073
Multi-Family
214
Businesses
253
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Listed by: Alex Chapek • Odyssey Real Estate Group
Mls Name: Lake Superior Area Realtors
Mls ID: #6122644