$435,000
Investment Summary
- Monthly Cash Flow
- -$509
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -6.1%
- Debt Coverage Ratio
- 0.75
- Internal Rate of Return (5 years)
- -1.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
** MAIN HOUSE SQFT = 1,626 + GUEST HOUSE SQFT = 616 ** Welcome to this unique lakeside retreat in a peaceful Clear Lake neighborhood—featuring a charming 2-bedroom, 2-bathroom main home plus a bonus 1-bedroom, 1-bathroom guest house. Perfectly situated on the sought-after Briggs Chain of Lakes, this scenic property offers 134 feet of private shoreline on beautiful Rush Lake, providing a tranquil setting for both everyday living and unforgettable getaways. Step into the inviting main living room, where rich wood flooring, classic wood-paneled walls, and a cozy wood-burning fireplace with full brick surround create a warm and timeless atmosphere. A large closet offers convenient storage, while abundant natural light enhances the room’s charm. The bright kitchen is surrounded by windows and features tile flooring, tiled countertops and backsplash, and ample cabinetry—offering plenty of storage. Just off the kitchen, the dining area boasts cohesive tile flooring, a ceiling fan for year-round comfort, and a built-in glass-front china cabinet—ideal for showcasing decor or organizing essentials. Access to the deck allows for easy indoor-outdoor entertaining. Two comfortable bedrooms are located on the main level—one with hardwood floors, the other carpeted for added coziness. Each includes a ceiling fan, extra closet space, and windows that frame peaceful views of the yard. A full bathroom serves this level, complete with tiled floors, a large single vanity with tiled counters, and a jetted tub/shower combo. A nearby hall closet offers extra storage for linens and more. The lower level extends your living space with a generous family room featuring warm wood walls, durable tile flooring, a second wood-burning fireplace, and a ceiling fan for added comfort. Walkout access to the backyard enhances the versatility of this area—ideal for use as an office, media room, or additional living space. You'll also find a convenient ¾ bathroom and a laundry area equipped with a utility sink and ample storage. From here, access the attached two-car garage, which includes built-in shelving, a workbench area, and a remote-controlled opener. The outdoor spaces are a true highlight. A two-tiered wooden deck offers expansive areas for relaxing, grilling, or entertaining—while mature trees provide natural beauty and privacy. A whimsical archway leads to the shoreline, where you'll find a private dock and a firepit perfect for enjoying lakefront evenings. An in-ground irrigation system draws from the lake to maintain the lush landscape, which even includes established asparagus and horseradish plants. A beautifully maintained guest house sits on the property, ideal for hosting visitors or potential rental income. It adds around 600 sq ft of bonus living space, and features a kitchen with ample cabinetry and space for additional appliances. The kitchen flows into a bright dining area with built-in china cabinets, tile flooring, and wood-paneled walls. The family room includes carpeting and its own wood-burning fireplace for comfort and charm. A well-sized bedroom offers stylish flooring and closet storage. The ¾ bathroom features tiled flooring and wainscoting. There’s also a hallway with space for a stackable washer and dryer—offering added convenience for guests or tenants. Just outside the guest house, enjoy a 15 x 12 concrete patio with peaceful lake views—an ideal spot for morning coffee or evening relaxation. Additional standout features include a 10 x 12 shed for tools and outdoor storage, a large driveway with extra parking pad for guests or recreational vehicles, and an included dock and negotiable paddle boat. This lakeside property offers the perfect blend of natural beauty, comfort, and flexibility—with spaces ideal for entertaining, relaxing, or generating rental income. Whether you’re looking for a serene year-round home or a magical lakefront escape, this Clear Lake gem delivers on every level.
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Location
Property Details
Parking
- Description: Attached Garage, Tuckunder Garage, Asphalt
- Details: Garage Door Opener, Storage, Garage
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 11
- # of Stories: 1
- Basement: Yes
- Basement Description: Partial, Storage Space, Partially Finished
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 40004160648
- Lot Size: 24829 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 1964
Tax Information
- Annual Tax: $2,926
Utilities
- Water & Sewer: Well
- Heating: Baseboard
- Cooling: None
Location
- County: Sherburne
Listing Details
Investment Summary
- Monthly Cash Flow
- -$509
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -6.1%
- Debt Coverage Ratio
- 0.75
- Internal Rate of Return (5 years)
- -1.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $435,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$348,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $87,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $13,050 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $100,050 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,626 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $268 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.60 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $348,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $2,059 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $244 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $182 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $2,485 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $2,600 | $31,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$156 | -$1,872 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,444 | $29,328 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 9% | -$244 | -$2,926 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$182 | -$2,184 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$208 | -$2,496 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$130 | -$1,560 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$130 | -$1,560 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 34% | -$894 | -$10,726 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $1,550 | $18,600 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$2,059 | -$24,708 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $509 | $6,108 |