621 Summit StEvelethMN55734
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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 Eveleth at 621 Summit St, Eveleth, MN, 55734 with 5% annual appreciation on a $130,000 basis while $1,991/mo rent supports operations. Total monthly income totals $1,991/mo and a $636/mo payment preserves $1,180/mo for cash returns. Annual cash flow comes to $14,154/yr on $43,095 deployed, and return on cash invested reaches 52.75% in year one. Equity gained on principal adds $839/yr, and five-year appreciation sums $35,917 alongside rental yield of 18.38%. Five-year ROI measures 279.1% and total cumulative return in cash totals $120,279.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,991/mo property income versus a $636/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1920
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55734, Eveleth, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,304 (100%) |
| Owner Occupied HU | 2,114 (64.0%) |
| Renter Occupied HU | 628 (19.0%) |
| Vacant Housing Units | 562 (17.0%) |
| Median Home Value | $261,885 |
| Average Home Value | $293,444 |
Housing Distribution
Address Breakdown
Residential
2,906
Single Family
2,630
Multi-Family
276
Businesses
146
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Listed by: Lindsay Aagenes • Culbert Realty
Mls Name: Range AOR
Mls ID: #147543
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.