42 W Shagawa RdElyMN55731
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
Rental property for sale in Ely at 42 W Shagawa Rd, Ely, MN, 55731 generates $1,187/mo in rent and, after a $538/mo payment, leaves $489/mo in cash flow. Total monthly income is $1,187/mo, and annual cash flow is $5,866/yr on $36,465 invested. Return on cash invested sits at 36% in year one, and rental yield is 12.95% on a $110,000 entry. Equity gained on principal adds $710/yr, while 5% annual appreciation builds toward $30,391 over five years. Five-year ROI reaches 189.35% and total cumulative return in cash sums $69,048. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,187/mo property income rather than buyer’s personal income.
Single Family
Built in 1914
5,662 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Misty Merhar • Z' Up North Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6121123
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.