60 W Lakeview PlElyMN55731
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 Ely at 60 W Lakeview Pl, Ely, MN, 55731 earns from $2,903/mo rent with a $2,912/mo payment. Total monthly income totals $2,903/mo. ROI tracks 15.08% on current figures, and rental yield reads 5.85% at a $595,000 purchase. Equity gained on principal adds $3,839/yr, and 5% annual appreciation supports $164,388 over five years. Five-year ROI reaches 77% and total cumulative return in cash sums $150,722. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,903/mo property income instead of your personal income.
Single Family
Built in N/A
1.67 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55731, Ely, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,875 (100%) |
| Owner Occupied HU | 2,036 (41.8%) |
| Renter Occupied HU | 675 (13.8%) |
| Vacant Housing Units | 2,164 (44.4%) |
| Median Home Value | $269,626 |
| Average Home Value | $319,896 |
Housing Distribution
Address Breakdown
Residential
3,274
Single Family
3,079
Multi-Family
195
Businesses
379
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Nearby investment properties with comparable prices
Listed by: Jeff Hway • Bear Island Realty LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116302
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.