402 N Elba AveEvelethMN55734
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors who value predictability will appreciate 402 N Elba Ave, Eveleth, MN, 55734 in Eveleth. At $169,900 it earns $1,484/mo in rent and distributes $452/mo to the owner after the $764/mo payment, a consistent 10.69% yield. DSCR 1.94 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $46,940 in value; $1,565/yr in principal paydown compounds ownership stake. Total projected return: $91,707.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.7% | 7.0% |
| Monthly Cash Flow | $452 | $350 |
City averages based on Eveleth market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,484 |
| Total Monthly Debt Service | $993 |
| DSCR Ratio | 1.49x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1890
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55734, Eveleth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,304 (100%) |
| Owner Occupied HU | 2,114 (64.0%) |
| Renter Occupied HU | 628 (19.0%) |
| Vacant Housing Units | 562 (17.0%) |
| Median Home Value | $261,885 |
| Average Home Value | $293,444 |
Housing Distribution
Address Breakdown
Residential
2,906
Single Family
2,630
Multi-Family
276
Businesses
146
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
Single Family
Built in 1890
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55734, Eveleth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,304 (100%) |
| Owner Occupied HU | 2,114 (64.0%) |
| Renter Occupied HU | 628 (19.0%) |
| Vacant Housing Units | 562 (17.0%) |
| Median Home Value | $261,885 |
| Average Home Value | $293,444 |
Housing Distribution
Address Breakdown
Residential
2,906
Single Family
2,630
Multi-Family
276
Businesses
146
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sean McDonald • RE/MAX Results - Longville
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119653
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 2025 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.