408 N Norman AveEvelethMN55734
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
Investment property for sale in Eveleth at 408 N Norman Ave, Eveleth, MN, 55734 at $197,000 posts ROI 34.94% with $818/mo cash flow from $2,048/mo rent. Total monthly income equals $2,048/mo, and annual cash flow records $9,817/yr on $65,306 to close. Return on cash invested measures 34.94% and rental yield reads 12.48% at the current $197,000. Equity gained on principal adds $1,271/yr, and 5% annual appreciation supports $54,427 by year five. Five-year ROI prints 183.61% and total cumulative return in cash totals $119,906.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $2,048/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1957
5,227 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: Lisa Janisch • Janisch Realty Inc.
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6114150
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.