42 E Bay LnGrand MaraisMN55604
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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
Rental property for sale in Grand Marais at 42 E Bay Ln, Grand Marais, MN, 55604 priced at $849,900 converts $1,026/mo rent into after a $4,160/mo obligation. Total monthly income equals $1,026/mo. Return on cash invested prints 1.38% in year one, and rental yield reads 1.45% against a $849,900 entry. Equity gained on principal adds $5,484/yr, while 5% annual appreciation compiles into $234,812 by year five. Five-year ROI reaches 3.64% and total cumulative return in cash sums $10,178. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,026/mo property income covering a $4,160/mo payment, not borrower’s personal income.
Single Family
Built in 1994
4.23 Acres lot
$N/A/sqft
$850 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55604, Grand Marais, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,559 (100%) |
| Owner Occupied HU | 1,413 (39.7%) |
| Renter Occupied HU | 428 (12.0%) |
| Vacant Housing Units | 1,718 (48.3%) |
| Median Home Value | $352,639 |
| Average Home Value | $483,783 |
Housing Distribution
Address Breakdown
Residential
1,403
Single Family
1,281
Multi-Family
122
Businesses
229
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Listed by: Virginia Detrick Palmer • Coldwell Banker North Shore
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6114196
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.