502 Sparkman AveDuluthMN55803
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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 Duluth at 502 Sparkman Ave, Duluth, MN, 55803 generates $1,397/mo in rent and, after a $1,023/mo payment, leaves $92/mo in cash flow. Total monthly income is $1,397/mo, and annual cash flow is $1,102/yr on $69,284 invested. Return on cash invested sits at 21.5% in year one, and rental yield is 8.02% on a $209,000 entry. Equity gained on principal adds $1,349/yr, while 5% annual appreciation builds toward $57,743 over five years. Five-year ROI reaches 111.46% and total cumulative return in cash sums $77,222. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,397/mo property income rather than buyer’s personal income.
Single Family
Built in 1920
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55803, Duluth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,457 (100%) |
| Owner Occupied HU | 5,987 (70.8%) |
| Renter Occupied HU | 1,401 (16.6%) |
| Vacant Housing Units | 1,069 (12.6%) |
| Median Home Value | $371,529 |
| Average Home Value | $418,064 |
Housing Distribution
Address Breakdown
Residential
8,049
Single Family
7,214
Multi-Family
835
Businesses
380
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