607 E 22nd StHibbingMN55746
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 Hibbing at 607 E 22nd St, Hibbing, MN, 55746 uses $48,068 cash to close to unlock $16,911/yr annual cash flow and $1,409/mo monthly cash flow. Total monthly income runs $2,315/mo, and a $710/mo payment keeps the spread at $1,409/mo. Purchase price stands at $145,000, and rental yield measures 19.16% with $2,315/mo rent. Return on cash invested shows 55.09% in year one, and 5% annual appreciation builds toward $40,061 over five years. Five-year ROI reaches 291.68% and total cumulative return in cash records $140,204. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,315/mo property income covering a $710/mo payment rather than investor’s personal income.
Single Family
Built in 1920
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55746, Hibbing, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,961 (100%) |
| Owner Occupied HU | 5,525 (61.7%) |
| Renter Occupied HU | 2,367 (26.4%) |
| Vacant Housing Units | 1,069 (11.9%) |
| Median Home Value | $169,966 |
| Average Home Value | $254,265 |
Housing Distribution
Address Breakdown
Residential
8,201
Single Family
7,060
Multi-Family
1,141
Businesses
720
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Listed by: Cheryl Walters • Village Realty
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6120545
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.