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$1,549,900

For Sale - Active
1883 Symes St, Long Lake, MN 55356
3 Beds
3 Baths
3,300 Square Feet
0.25 Acres Lot
Built in 2023
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: Oct 02, 2025 at 10:16AM

Investment Summary


Monthly Cash Flow
-$4,173
Cap Rate
2.4%
Cash-on-Cash Return
-14.0%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Property Description


0.25 Acres Lot
Built in 2023
For Sale - Active
Units n/a

Welcome to Aava Vetta (meaning Vast Open Water) of Long Lake. All villas offer private elevators and are equipped with Subzero and Wolf appliances that come standard. 11 exclusive, beautifully appointed row homes nestled amongst a small enclave of homes with most units offering panoramic views of Long Lake. Each property features custom offerings while incorporating masterful craftsmanship and thoughtful design highlighting functionality. A perfect combination of elegance and simplicity. You'll enjoy sunrises over Long Lake, short strolls to delicious restaurants, charming shops and various parks or hop on the Luce Line or Lake Independence Regional Trail for the day. Adjacent to Nelson Lakeside Park. Carefree living at it's finest! Only a few villas unspoken for!

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Location


Property Details


Parking

  • Description: Garage Door Opener, Insulated Garage, Tuckunder Garage
  • Details: Garage Door Opener, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Partial
  • Fireplace: Yes

Exterior Features

  • Roof Material: Asphalt, Shingle

HOA

  • Has HOA: Yes
  • Association: Aava Vetta Homeowners Association
  • HOA Fee: $400/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 3411823130115
  • Lot Size: 10890 sqft

Property Information

  • Property Type: Townhouse
  • Style: (TH) Side x Side
  • Year Built: 2023

Tax Information

  • Annual Tax: $22,663

Utilities

  • Water & Sewer: Public
  • Heating: Forced Air
  • Cooling: Central Air

Location

  • County: Hennepin

Listing Details


Listed by:
Anthony M Sarenpa
Keller Williams Premier Realty Lake Minnetonka
(612) 805-6890

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6670764
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$4,173
Cap Rate
2.4%
Cash-on-Cash Return
-14.0%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Purchase Details

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Purchase price:
$1,549,900
Amount financed:
-$1,239,920
Down payment:
$309,980
Closing costs:
$46,497
Rehab costs:
$0
Initial cash invested:
$356,477
Square feet:
3,300
Cost per square foot:
$470
Monthly rent per square foot:
$2.39

Financing Details

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Loan amount:
$1,239,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$7,335
Property tax:
$1,889
Insurance:
$553
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,777

Operating Income

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% Rent Monthly Yearly
Gross rent:
$7,900 $94,800
Vacancy loss: (6%)
6% -$474 -$5,688
Operating income:
$7,426 $89,112

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$1,889-$22,664
Insurance: (7%)
7%-$553-$6,636
Property management: (8%)
8%-$632-$7,584
Repairs & maintenance: (5%)
5%-$395-$4,740
Capital expenditures: (5%)
5%-$395-$4,740
HOA fees: (5%)
5%-$400-$4,800
Total operating expenses: (54%)
54%-$4,264-$51,164

Cash Flow


Monthly Yearly
Net operating income:
$3,162 $37,944
Mortgage payments:
-$7,335 -$88,020
Cash flow:
-$4,173 -$50,076