3221 2nd Ave EHibbingMN55746
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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 Hibbing at 3221 2nd Ave E, Hibbing, MN, 55746 uses $76,245 cash to close to unlock $10,771/yr annual cash flow and $898/mo monthly cash flow. Total monthly income runs $2,372/mo, and a $1,126/mo payment keeps the spread at $898/mo. Purchase price stands at $230,000, and rental yield measures 12.38% with $2,372/mo rent. Return on cash invested shows 34.04% in year one, and 5% annual appreciation builds toward $63,545 over five years. Five-year ROI reaches 178.91% and total cumulative return in cash records $136,411. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,372/mo property income covering a $1,126/mo payment rather than investor’s personal income.
Single Family
Built in 1953
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55746, Hibbing, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,961 (100%) |
| Owner Occupied HU | 5,525 (61.7%) |
| Renter Occupied HU | 2,367 (26.4%) |
| Vacant Housing Units | 1,069 (11.9%) |
| Median Home Value | $169,966 |
| Average Home Value | $254,265 |
Housing Distribution
Address Breakdown
Residential
8,201
Single Family
7,060
Multi-Family
1,141
Businesses
720
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Listed by: Kathy Edmonds • Perrella & Associates
Mls Name: Range AOR
Mls ID: #148760
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.