7384 Ely Lake DrEvelethMN55734
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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 7384 Ely Lake Dr, Eveleth, MN, 55734 offers a 7.2% rental yield on a $309,000 purchase with $1,855/mo rent. 04% in year one. Equity gained on principal adds $1,994/yr while 5% annual appreciation supports $85,371 over five years. Portfolio math shows five-year ROI at 98.26% and total cumulative return in cash at $100,649. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,855/mo property income against a $1,512/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1976
0.80 Acres 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: Scott Beaudette • Culbert Realty
Mls Name: Range AOR
Mls ID: #148188
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.