840 Chapman EElyMN55731
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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 Ely at 840 Chapman E, Ely, MN, 55731 offers $1,277/mo rent that, after a $783/mo payment, leaves $278/mo cash flow. Total monthly income is $1,277/mo, and annual cash flow is $3,336/yr on $53,040 cash. Return on cash invested measures 26.2% in year one, and rental yield stands at 9.58% at a $160,000 entry. Equity gained on principal adds $1,032/yr while 5% annual appreciation compounds into $44,205 by year five. Five-year ROI records 136.63% and total cumulative return in cash reaches $72,470. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,277/mo property income versus a $783/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55731, Ely, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,875 (100%) |
| Owner Occupied HU | 2,036 (41.8%) |
| Renter Occupied HU | 675 (13.8%) |
| Vacant Housing Units | 2,164 (44.4%) |
| Median Home Value | $269,626 |
| Average Home Value | $319,896 |
Housing Distribution
Address Breakdown
Residential
3,274
Single Family
3,079
Multi-Family
195
Businesses
379
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