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$219,900

For Sale - Active
2220 Ridge Dr Apt 16, Saint Louis Park, MN 55416
2 Beds
2 Baths
1,080 Square Feet
0.00 Acres Lot
Built in 1980
For Sale - Active
1 Units
Checked: 10 hours ago
Updated: Jul 27, 2025 at 03:30AM

Investment Summary


Monthly Cash Flow
-$663
Cap Rate
2.1%
Cash-on-Cash Return
-15.7%
Debt Coverage Ratio
0.36
Internal Rate of Return (5 years)
-11.2%

Property Description


0.00 Acres Lot
Built in 1980
For Sale - Active
1 Units

Check out this charming End-Unit Condo in a prime St. Louis Park location! This stylish and inviting end-unit lives like a two-story townhome, complete with a private entrance and a thoughtfully designed layout. Move right into this 2-bedroom, 2-bath home featuring laminate hardwood flooring on the main level, ceramic tile in the kitchen, and a warm interior with neutral tones and plenty of natural sunlight. The main-level family room offers a cozy brick-front woodburning fireplace, perfect for relaxing evenings. Enjoy the open-concept layout ideal for entertaining, with a spacious dining area that flows seamlessly into the kitchen and living spaces. Step outside to your private patio or head upstairs to unwind on your upper-level balcony. The upper level is home to both bedrooms, a full bathroom, a washer and dryer, and also includes a new water heater that was installed in June 2025. A spiral staircase adds a touch of character, and a second private entrance to the upper level provides easy access for moving furniture. Your designated one-car garage with opener is conveniently located just outside your front door. The community also features 3 shared pools and is situated in a highly sought-after location—tucked away for privacy yet just minutes from all the West End amenities St. Louis Park has to offer, including shopping, dining, Costco, a movie theater, grocery stores, and the Cedar Lake Regional Trail System. Your furry friend will love your new place and your service animal is also welcome with prior authorization.

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Location


Property Details


Parking

  • Description: Assigned, Detached Garage, Garage Door Opener
  • Details: Parking Lot, Assigned, Garage Door Opener
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 2
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Foundation: Combination
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: First Service Residential
  • HOA Fee: $506/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0911721210086
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: (CC) Low Rise (3- Levels)
  • Year Built: 1980

Tax Information

  • Annual Tax: $4,285

Utilities

  • Water & Sewer: Public
  • Heating: Baseboard

Location

  • County: Hennepin

Listing Details


Listed by:
Barbara Lusignan
LPT Realty, LLC
(651) 283-6846

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6730692
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$663
Cap Rate
2.1%
Cash-on-Cash Return
-15.7%
Debt Coverage Ratio
0.36
Internal Rate of Return (5 years)
-11.2%

Purchase Details

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Purchase price:
$219,900
Amount financed:
-$175,920
Down payment:
$43,980
Closing costs:
$6,597
Rehab costs:
$0
Initial cash invested:
$50,577
Square feet:
1,080
Cost per square foot:
$204
Monthly rent per square foot:
$1.67

Financing Details

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Loan amount:
$175,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,041
Property tax:
$357
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,524

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (20%)
20%-$357-$4,285
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (28%)
28%-$507-$6,084
Total operating expenses: (73%)
73%-$1,314-$15,769

Cash Flow


Monthly Yearly
Net operating income:
$378 $4,536
Mortgage payments:
-$1,041 -$12,492
Cash flow:
$663 $7,956