5241 Reider Memorial DrSilver BayMN55614
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 Silver Bay at 5241 Reider Memorial Dr, Silver Bay, MN, 55614 uses $165,419 cash to close to unlock $9,268/yr annual cash flow and $772/mo monthly cash flow. Total monthly income runs $3,888/mo, and a $2,442/mo payment keeps the spread at $772/mo. Purchase price stands at $499,000, and rental yield measures 9.35% with $3,888/mo rent. Return on cash invested shows 25.51% in year one, and 5% annual appreciation builds toward $137,865 over five years. Five-year ROI reaches 132.98% and total cumulative return in cash records $219,966. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,888/mo property income covering a $2,442/mo payment rather than investor’s personal income.
Single Family
Built in 1986
20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55614, Silver Bay, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,471 (100%) |
| Owner Occupied HU | 965 (65.6%) |
| Renter Occupied HU | 168 (11.4%) |
| Vacant Housing Units | 338 (23.0%) |
| Median Home Value | $216,209 |
| Average Home Value | $325,624 |
Housing Distribution
Address Breakdown
Residential
1,222
Single Family
1,179
Multi-Family
43
Businesses
74
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Daniel Pflugshaupt • Gallery of Homes
Mls Name: Lake Superior Area Realtors
Mls ID: #6122974