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$185,000

For Sale - Active
10777 70th St, Clear Lake, MN 55319
2 Beds
1 Bath
560 Square Feet
0.24 Acres Lot
Built in 1957
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jul 26, 2025 at 03:58AM

Investment Summary


Monthly Cash Flow
$11
Cap Rate
5.7%
Cash-on-Cash Return
0.3%
Debt Coverage Ratio
1.01
Internal Rate of Return (5 years)
4.3%

Property Description


0.24 Acres Lot
Built in 1957
For Sale - Active
Units n/a

Cabins don't get any cuter than this charmer on the channel of Elk Lake! No noisy lake life, just other-worldly serenity and peace. Picture yourself relaxing on the brand new dock watching the water and wildlife. Though it is used as a seasonal cabin, it could easily be turned into a year round oasis. Canoeing, boating, kayaking, and fishing are bustling on 356 acres of Elk Lake. Briggs, Julia and Rush Lake all nearby. Public landing just a short walk/drive down the street. Work remotely with fast internet speeds! Successful short term rental. Has private septic with drain field.

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Location


Property Details


Parking

  • Description: Driveway - Other Surface
  • Details: Off Site
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick

Land Information

  • Land Use: Residential
  • Land Use Subtype: Seasonal, Cabin, Vacation Residence

Lot Information

  • Parcel ID: 20004020715
  • Lot Size: 10454 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1957

Tax Information

  • Annual Tax: $958

Utilities

  • Water & Sewer: Private, Well

Location

  • County: Sherburne

Listing Details


Listed by:
Jaclyn Rae Butcher
Edina Realty, Inc.
(763) 742-0210

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6726875
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
$11
Cap Rate
5.7%
Cash-on-Cash Return
0.3%
Debt Coverage Ratio
1.01
Internal Rate of Return (5 years)
4.3%

Purchase Details

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Purchase price:
$185,000
Amount financed:
-$148,000
Down payment:
$37,000
Closing costs:
$5,550
Rehab costs:
$0
Initial cash invested:
$42,550
Square feet:
560
Cost per square foot:
$330
Monthly rent per square foot:
$2.50

Financing Details

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Loan amount:
$148,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$875
Property tax:
$80
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,053

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$80-$958
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (31%)
31%-$430-$5,158

Cash Flow


Monthly Yearly
Net operating income:
$886 $10,632
Mortgage payments:
-$875 -$10,500
Cash flow:
$11 $132