$569,900
Investment Summary
- Monthly Cash Flow
- -$289
- Cap Rate
- 5.1%
- Cash-on-Cash Return
- -2.6%
- Debt Coverage Ratio
- 0.89
- Internal Rate of Return (5 years)
- 1.4%
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
This California ranch-style home in a fantastic Plymouth location offers the best of both worlds — suburban serenity and modern living, all within walking distance to Parker’s Lake. Located in the prestigious Wayzata school district, you’ll love the convenience of having a school bus stop right outside your front door. Kids can easily bike to Birchview Elementary School and Central Middle School. Even downtown Wayzata is just a short bike ride away, offering a perfect balance of nature and local amenities. Sitting on almost half an acre, this home has been fully updated with a versatile floor plan that can change with your needs, making it ideal for entertaining or simply enjoying life. Inside, the home features an open and bright layout with new LVP flooring on the main level. As you walk in one of the first things you will notice is the heart of the home, a huge dining room with a built-in bar area. This room was made for entertaining; imagine being able to seat 20+ people for holiday gatherings! Adjacent to the dining room is the spacious living room that centers around a clean-burning ventless fuel oil fireplace, perfect for cozy nights. You’ll find the kitchen on the other side, with stainless steel appliances (including a double oven), tons of counter space, a pull out pantry & the perfect island table that opens to the main level family room. The home’s design truly caters to multigenerational living with a second ensuite located on the main level, complete with its own private entrance. This suite could easily be used as for a home based business, rental income opportunity, or in-law suite, offering an ADA-compliant bathroom with 36”+ doors. There’s also potential to add a kitchenette and laundry to the suite, making it a completely independent living space if desired. Upstairs, you'll find three generously sized bedrooms, including the luxurious primary suite. This retreat includes a cozy sitting room, a convenient kitchenette, large walk-in closet, and an ensuite bath with double sinks, dual medicine cabinets, soaking tub, and a separate shower. The primary suite opens to an east-facing upper deck, ideal for watching the sunrise with your morning coffee. With the convenience of the second floor laundry, you’ll never have to worry about hauling laundry up and down the stairs. The home’s outdoor living spaces are equally impressive, with both main-level and upper-level decks that overlook the gorgeous backyard. Whether you enjoy gardening or love hosting summer barbeques, these outdoor areas offer the perfect extension of your living space. The expansive fenced-in backyard is flat and open, offering plenty of room for activities or even the possibility of adding a pool. You’ll even find a garden shed and an adorable “She Shed”. With its vibrant neighborhood, proximity to excellent schools, and thoughtful updates, this home is more than just a place to live—it’s a lifestyle. Whether you’re looking for space to grow, work from home, or entertain, this modern yet charming property can easily adapt to meet your needs for years to come.
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Attached Garage, Asphalt, Other
- Details: Other
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 11
- # of Stories: 2
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Type: Gable
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2811822410011
- Lot Size: 20037 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 1965
Tax Information
- Annual Tax: $6,706
Utilities
- Water & Sewer: Public
- Heating: Radiant
- Cooling: Wall Unit(s)
Location
- County: Hennepin
Listing Details
Investment Summary
- Monthly Cash Flow
- -$289
- Cap Rate
- 5.1%
- Cash-on-Cash Return
- -2.6%
- Debt Coverage Ratio
- 0.89
- Internal Rate of Return (5 years)
- 1.4%
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:
| $569,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$455,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $113,980 |
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:
| $17,097 |
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:
| $131,077 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,900 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $197 |
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:
| $1.48 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $455,920 |
|---|---|
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:
| $2,697 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $559 |
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:
| $301 |
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:
| $3,557 |
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:
| $4,300 | $51,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$258 | -$3,096 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,042 | $48,504 |
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. | 13% | -$559 | -$6,706 |
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% | -$301 | -$3,612 |
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% | -$344 | -$4,128 |
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% | -$215 | -$2,580 |
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% | -$215 | -$2,580 |
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 | 38% | -$1,634 | -$19,606 |
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:
| $2,408 | $28,896 |
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. | -$2,697 | -$32,364 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$289 | -$3,468 |