5457 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 5457 Highway 61, Silver Bay, MN, 55614 earns $628/mo cash flow from $2,807/mo rent with a $1,708/mo payment. Total monthly income totals $2,807/mo, and annual cash flow totals $7,534/yr on $115,694 capital. ROI tracks 26.42% on current figures, and rental yield reads 9.65% at a $349,000 purchase. Equity gained on principal adds $2,252/yr, and 5% annual appreciation supports $96,422 over five years. Five-year ROI reaches 137.83% and total cumulative return in cash sums $159,456. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,807/mo property income instead of your personal income.
Single Family
Built in 1954
4.34 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: Jon Chapek • Odyssey Real Estate Group
Mls Name: Lake Superior Area Realtors
Mls ID: #6120689