5480 E Highway 61HovlandMN55606
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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 Hovland at 5480 E Highway 61, Hovland, MN, 55606 offers a 2.27% rental yield on a $969,000 purchase with $1,829/mo rent. 17% in year one. Equity gained on principal adds $6,253/yr while 5% annual appreciation supports $267,717 over five years. Portfolio math shows five-year ROI at 18.46% and total cumulative return in cash at $58,863. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,829/mo property income against a $4,743/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1959
1.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55606, Hovland, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 340 (100%) |
| Owner Occupied HU | 94 (27.6%) |
| Renter Occupied HU | 22 ( 6.5%) |
| Vacant Housing Units | 224 (65.9%) |
| Median Home Value | $368,750 |
| Average Home Value | $445,106 |
Housing Distribution
Address Breakdown
Residential
54
Single Family
54
Multi-Family
0
Businesses
8
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Listed by: Inger Andress • Edina Realty, Inc. - Lutsen
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6119574
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.