346 E Pattison StElyMN55731
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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 Ely at 346 E Pattison St, Ely, MN, 55731 earns $870/mo cash flow from $2,400/mo rent with a $1,199/mo payment. Total monthly income totals $2,400/mo, and annual cash flow totals $10,443/yr on $81,218 capital. ROI tracks 32.77% on current figures, and rental yield reads 11.76% at a $245,000 purchase. Equity gained on principal adds $1,581/yr, and 5% annual appreciation supports $67,689 over five years. Five-year ROI reaches 171.91% and total cumulative return in cash sums $139,620. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,400/mo property income instead of your personal income.
Single Family
Built in 1940
6,098 sqft 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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