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$239,000

For Sale - Active
109 Harriet St, Spicer, MN 56288
3 Beds
2 Baths
1,620 Square Feet
0.25 Acres Lot
Built in 1962
For Sale - Active
Units n/a
Checked: 19 hours ago
Updated: Jun 19, 2025 at 03:30AM

Investment Summary


Monthly Cash Flow
-$378
Cap Rate
4.4%
Cash-on-Cash Return
-8.3%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-4.0%

Property Description


0.25 Acres Lot
Built in 1962
For Sale - Active
Units n/a

Welcome to this cute 3 bed/2 full bath rambler on a sizable corner lot in the heart of Spicer. Beautiful Green Lake's public beach access and downtown Spicer just blocks away. Don't miss out on your opportunity to experience all that the Willmar Lakes Area has to offer and discover why "Spicer is Nicer."

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Location


Property Details


Parking

  • Description: Attached Garage, Concrete, Garage Door Opener
  • Details: Concrete, Garage Door Opener
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Finished, Full

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 851001385
  • Lot Size: 10890 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1962

Tax Information

  • Annual Tax: $2,764

Utilities

  • Heating: Forced Air

Location

  • County: Kandiyohi

Listing Details


Listed by:
Lindsay Marks
Edina Realty
(320) 441-9297

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6672878
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$378
Cap Rate
4.4%
Cash-on-Cash Return
-8.3%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-4.0%

Purchase Details

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Purchase price:
$239,000
Amount financed:
-$191,200
Down payment:
$47,800
Closing costs:
$7,170
Rehab costs:
$0
Initial cash invested:
$54,970
Square feet:
1,620
Cost per square foot:
$148
Monthly rent per square foot:
$0.99

Financing Details

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Loan amount:
$191,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,252
Property tax:
$230
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,594

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$230-$2,764
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$630-$7,564

Cash Flow


Monthly Yearly
Net operating income:
$874 $10,488
Mortgage payments:
-$1,252 -$15,024
Cash flow:
$378 $4,536