4 Turnkey Single Family Homes for sale in Minneapolis Market

[Jay Lohn]

Expand your Real Estate Investment Portfolio and earn passive income.
We have 4 Rent-Stabilized, Renovated, Single-Family Homes for Sale.
Buy all or buy individually.

All properties are occupied with 12-month leases.
All tenants have been thoroughly vetted with criminal background and credit checks and rental history and employment has been verified.
Tenants are responsible for utilities and lawn and snow removal.

Total Price: $940,000
Gross Annual Rent: $77,160 Current >>>> (Adj for Market value: $84,600)
Property Taxes: $8,576
Insurance: $5,614
Vacancy (5% of rent): $3,858
Maintenance (4% of rent): $3,086
Management (1 mo rent): $6,430
NOI= $49,596 Current >>>>> (Adj for MV Rent: NOI $55,530)

Market rent has increased since these leases were signed.
Market value gross annual rent is $84,600. This would be an NOI of $55,530.
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Four Properties are Listed Below:

1) Nicollet Ave S Bloomington- Sale Price $235,000
3 bed, 2 bath, 1340 finished sqft, with a 2 car detached garage on a double lot.
Rental Value: $1650-1800 Current rent: 1695/mo (tenant pays utilities)
Current Gross Rent: 20,340
Taxes: 2250
Insurance: 1,104
Vacancy: 1,017
Maintenance: 814
Management: 1,695
NOI: $13,460 (Increase to Market Rent, NOI would be $14,286)

2) Hubbard Ave Saint Paul- Sale Price $225,000
3 bed, 3 bath, 1350 finished sqft, with a 2 car detached garage
Rental Value: $1400-1650 Current rent: $1450/mo (tenant pays utilities)
Gross Rent: 17,400
Taxes: 2550
Insurance: 1656
Vacancy: 870
Maintenance: 696
Management: 1450
NOI: 10,988 (Increase to Market Rent, NOI would be $12,972)


3) Cleveland Ave NE Minneapolis- Sale Price $260,000
3 bed, 1 bath, 1358 finished sqft, with a 1 car detached garage
Rental Value: $1700-$1900 Current rent: $1735/mo (tenant pays utilities)
Gross Rent: 20,820
Taxes: 2,252
Insurance: 1,666
Vacancy: 1,041
Maintenance: 833
Management: 1735
NOI: $13,293 (Increase to Market Rent, NOI would be $14,930)

4) 90th Lane NE Blaine- Sale Price $220,000
4 bed, 2 bath, 1800 finished sqft, with a 2 car detached garage
Rental Value: $1500-$1700 Current rent: $1550/mo (tenant pays utilities)
Gross Rent: 18,600
Taxes: 2,418
Insurance: 1,104
Vacancy: 930
Maintenance: 744
Management: 1,550
NOI: 11,854 (Increase to Market Rent, NOI would be $13,342)