3898 Highway 2Two 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 3898 Highway 2, Two Harbors, MN, 55616 uses $119,009 cash to close to unlock $1,828/yr annual cash flow and $152/mo monthly cash flow. Total monthly income runs $2,394/mo, and a $1,757/mo payment keeps the spread at $152/mo. Purchase price stands at $359,000, and rental yield measures 8% with $2,394/mo rent. Return on cash invested shows 21.45% in year one, and 5% annual appreciation builds toward $99,185 over five years. Five-year ROI reaches 111.17% and total cumulative return in cash records $132,307. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,394/mo property income covering a $1,757/mo payment rather than investor’s personal income.
Single Family
Built in 1977
10 Acres 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: Gigi Maxwell • Legacy Real Estate Group LLC
Mls Name: Lake Superior Area Realtors
Mls ID: #6121601