500 W 5th StGrand MaraisMN55604
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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 500 W 5th St, Grand Marais, MN, 55604 priced at $490,000 converts $2,544/mo rent into after a $2,398/mo obligation. Total monthly income equals $2,544/mo. Return on cash invested prints 16.1% in year one, and rental yield reads 6.23% against a $490,000 entry. Equity gained on principal adds $3,162/yr, while 5% annual appreciation compiles into $135,378 by year five. Five-year ROI reaches 82.5% and total cumulative return in cash sums $134,004. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,544/mo property income covering a $2,398/mo payment, not borrower’s personal income.
Single Family
Built in 2006
0.31 Acres lot
$N/A/sqft
No 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: Lisa A Michalski • Edina Realty, Inc. - Duluth
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119205
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-21 04:32:09 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#939)