5282 Highway 61Silver 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 5282 Highway 61, Silver Bay, MN, 55614 offers a 8.15% rental yield on a $264,900 purchase with $1,800/mo rent. Total monthly income registers $1,800/mo, and a $1,297/mo payment leaves $145/mo available for distribution. Annual cash flow reaches $1,745/yr on $87,814 to close, and return on cash invested stands at 21.9% in year one. Equity gained on principal adds $1,709/yr while 5% annual appreciation supports $73,187 over five years. Portfolio math shows five-year ROI at 113.61% and total cumulative return in cash at $99,764. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,800/mo property income against a $1,297/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1965
0.74 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
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Nearby investment properties with comparable prices
Listed by: Katie Melander • Coldwell Banker Realty - Duluth
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6113538
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.