724 2nd AveTwo HarborsMN55616
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
Rental property for sale in Two Harbors at 724 2nd Ave, Two Harbors, MN, 55616 priced at $229,900 pairs $2,023/mo rent with $588/mo cash flow after a $1,125/mo payment. Total monthly income equals $2,023/mo, and annual cash flow comes to $7,052/yr on $76,212 invested. Return on cash invested is 29.16% in year one, and rental yield stands at 10.56% on a $229,900 basis. Equity gained on principal adds $1,484/yr, and 5% annual appreciation accumulates to $63,517 by year five. Five-year ROI measures 152.54% and total cumulative return in cash reaches $116,255. For financing, Ziffy Mortgage’s DSCR program evaluates $2,023/mo property income against a $1,125/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1889
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55616, Two Harbors, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,331 (100%) |
| Owner Occupied HU | 2,594 (59.9%) |
| Renter Occupied HU | 623 (14.4%) |
| Vacant Housing Units | 1,114 (25.7%) |
| Median Home Value | $291,129 |
| Average Home Value | $327,777 |
Housing Distribution
Address Breakdown
Residential
3,287
Single Family
3,073
Multi-Family
214
Businesses
253
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dee Furo • Legacy Real Estate Group LLC
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6117403
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.