602 3rd St NBiwabikMN55708
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 Biwabik at 602 3rd St N, Biwabik, MN, 55708 offers a 9.61% rental yield on a $129,000 purchase with $1,033/mo rent. Total monthly income registers $1,033/mo, and a $631/mo payment leaves $228/mo available for distribution. Annual cash flow reaches $2,734/yr on $42,764 to close, and return on cash invested stands at 26.3% in year one. Equity gained on principal adds $832/yr while 5% annual appreciation supports $35,640 over five years. Portfolio math shows five-year ROI at 137.19% and total cumulative return in cash at $58,669. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,033/mo property income against a $631/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
6,250 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55708, Biwabik, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 484 (100%) |
| Owner Occupied HU | 355 (73.3%) |
| Renter Occupied HU | 73 (15.1%) |
| Vacant Housing Units | 56 (11.6%) |
| Median Home Value | $99,667 |
| Average Home Value | $117,282 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
46
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