86 Banks BlvdSilver BayMN55614
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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
Rental property for sale in Silver Bay at 86 Banks Blvd, Silver Bay, MN, 55614 priced at $165,000 converts $1,264/mo rent into $233/mo cash flow after a $808/mo obligation. Total monthly income equals $1,264/mo, and annual cash flow totals $2,799/yr on $54,698 invested. Return on cash invested prints 25.03% in year one, and rental yield reads 9.19% against a $165,000 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation compiles into $45,586 by year five. Five-year ROI reaches 130.4% and total cumulative return in cash sums $71,327. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,264/mo property income covering a $808/mo payment, not borrower’s personal income.
Single Family
Built in 1953
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55614, Silver Bay, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,471 (100%) |
| Owner Occupied HU | 965 (65.6%) |
| Renter Occupied HU | 168 (11.4%) |
| Vacant Housing Units | 338 (23.0%) |
| Median Home Value | $216,209 |
| Average Home Value | $325,624 |
Housing Distribution
Address Breakdown
Residential
1,222
Single Family
1,179
Multi-Family
43
Businesses
74
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Listed by: Lisa A Michalski • Edina Realty, Inc. - Duluth
Mls Name: Lake Superior Area Realtors
Mls ID: #6121782