322 Elmwood RdHoyt LakesMN55750
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
Rental property for sale in Hoyt Lakes at 322 Elmwood Rd, Hoyt Lakes, MN, 55750 offers $2,102/mo rent that, after a $661/mo payment, leaves $1,259/mo cash flow. Total monthly income is $2,102/mo, and annual cash flow is $15,105/yr on $44,753 cash. Return on cash invested measures 53.66% in year one, and rental yield stands at 18.68% at a $135,000 entry. Equity gained on principal adds $871/yr while 5% annual appreciation compounds into $37,298 by year five. Five-year ROI records 283.96% and total cumulative return in cash reaches $127,081. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,102/mo property income versus a $661/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1956
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55750, Hoyt Lakes, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 999 (100%) |
| Owner Occupied HU | 784 (78.5%) |
| Renter Occupied HU | 100 (10.0%) |
| Vacant Housing Units | 115 (11.5%) |
| Median Home Value | $111,993 |
| Average Home Value | $225,405 |
Housing Distribution
Address Breakdown
Residential
931
Single Family
907
Multi-Family
24
Businesses
29
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Nearby investment properties with comparable prices
Listed by: Darcie Rae Novak • My Place Realty, Inc.
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6115377
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.