513 N 1st Ave EDuluthMN55805
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 Duluth at 513 N 1st Ave E, Duluth, MN, 55805 uses $56,322 cash to close to unlock $21,127/yr annual cash flow and $1,761/mo monthly cash flow. Total monthly income runs $2,846/mo, and a $832/mo payment keeps the spread at $1,761/mo. Purchase price stands at $169,900, and rental yield measures 20.1% with $2,846/mo rent. Return on cash invested shows 57.42% in year one, and 5% annual appreciation builds toward $46,940 over five years. Five-year ROI reaches 304.3% and total cumulative return in cash records $171,386. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,846/mo property income covering a $832/mo payment rather than investor’s personal income.
Single Family
Built in 1891
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55805, Duluth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,462 (100%) |
| Owner Occupied HU | 1,391 (25.5%) |
| Renter Occupied HU | 3,554 (65.1%) |
| Vacant Housing Units | 517 ( 9.5%) |
| Median Home Value | $226,692 |
| Average Home Value | $312,390 |
Housing Distribution
Address Breakdown
Residential
4,976
Single Family
3,439
Multi-Family
1,537
Businesses
178
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Listed by: Jordan DeCaro • RE/MAX Results
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116365
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 2024 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.