LOT 6 Snowbank Lake RdElyMN55731
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
Investment property for sale in Ely at LOT 6 Snowbank Lake Rd, Ely, MN, 55731 at $249,000 posts ROI 32.19% with $845/mo cash flow from $2,400/mo rent. Total monthly income equals $2,400/mo, and annual cash flow records $10,138/yr on $82,544 to close. Return on cash invested measures 32.19% and rental yield reads 11.57% at the current $249,000. Equity gained on principal adds $1,607/yr, and 5% annual appreciation supports $68,794 by year five. Five-year ROI prints 168.78% and total cumulative return in cash totals $139,316.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $2,400/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1960
0.70 Acres 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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