4961 Spirit Lake RdMountain IronMN55768
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 Mountain Iron at 4961 Spirit Lake Rd, Mountain Iron, MN, 55768 offers a 8.77% rental yield on a $469,000 purchase with $3,426/mo rent. Total monthly income registers $3,426/mo, and a $2,296/mo payment leaves $497/mo available for distribution. Annual cash flow reaches $5,962/yr on $155,474 to close, and return on cash invested stands at 23.74% in year one. Equity gained on principal adds $3,026/yr while 5% annual appreciation supports $129,576 over five years. Portfolio math shows five-year ROI at 123.47% and total cumulative return in cash at $191,959. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,426/mo property income against a $2,296/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1974
0.81 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55768, Mountain Iron, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,366 (100%) |
| Owner Occupied HU | 893 (65.4%) |
| Renter Occupied HU | 377 (27.6%) |
| Vacant Housing Units | 96 ( 7.0%) |
| Median Home Value | $262,852 |
| Average Home Value | $326,092 |
Housing Distribution
Address Breakdown
Residential
1,161
Single Family
915
Multi-Family
246
Businesses
53
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Listed by: Darcie Rae Novak • My Place Realty, Inc.
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119907
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.