507 Indiana Ave WMountain IronMN55741
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 507 Indiana Ave W, Mountain Iron, MN, 55741 offers a 12.95% rental yield on a $180,000 purchase with $1,942/mo rent. Total monthly income registers $1,942/mo, and a $881/mo payment leaves $818/mo available for distribution. Annual cash flow reaches $9,816/yr on $59,670 to close, and return on cash invested stands at 36.36% in year one. Equity gained on principal adds $1,162/yr while 5% annual appreciation supports $49,731 over five years. Portfolio math shows five-year ROI at 191.1% and total cumulative return in cash at $114,029. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,942/mo property income against a $881/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55741, Gilbert, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,775 (100%) |
| Owner Occupied HU | 1,247 (70.3%) |
| Renter Occupied HU | 204 (11.5%) |
| Vacant Housing Units | 324 (18.3%) |
| Median Home Value | $258,913 |
| Average Home Value | $279,970 |
Housing Distribution
Address Breakdown
Residential
977
Single Family
977
Multi-Family
0
Businesses
70
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Nearby investment properties with comparable prices
Listed by: Robin Cicmil • Village Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119740
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.