Onagon Lake RdGrand MaraisMN55604
Nearby investment properties with comparable rents
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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 Grand Marais at Onagon Lake Rd, Grand Marais, MN, 55604 offers a 10.07% rental yield on a $179,900 purchase with $1,510/mo rent. Total monthly income registers $1,510/mo, and a $881/mo payment leaves $386/mo available for distribution. Annual cash flow reaches $4,634/yr on $59,637 to close, and return on cash invested stands at 27.68% in year one. Equity gained on principal adds $1,161/yr while 5% annual appreciation supports $49,703 over five years. Portfolio math shows five-year ROI at 144.67% and total cumulative return in cash at $86,277. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,510/mo property income against a $881/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Lot
Built in N/A
3.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55604, Grand Marais, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,559 (100%) |
| Owner Occupied HU | 1,413 (39.7%) |
| Renter Occupied HU | 428 (12.0%) |
| Vacant Housing Units | 1,718 (48.3%) |
| Median Home Value | $352,639 |
| Average Home Value | $483,783 |
Housing Distribution
Address Breakdown
Residential
1,403
Single Family
1,281
Multi-Family
122
Businesses
229
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
No similar price properties found nearby.
Listed by: Mike Larson • Lutsen Real Estate Group
Mls Name: Lake Superior Area Realtors
Mls Provider:
Mls ID: #6116220
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 2024 Lake Superior Area REALTORS, Inc.® MLS All Rights Reserved.