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$278,000

For Sale - Active
2808 Aldrich Ave S Unit 108, Minneapolis, MN 55408
1 Bed
2 Baths
1,030 Square Feet
0.90 Acres Lot
Built in 2005
For Sale - Active
Units n/a
Checked: 4 hours ago
Updated: May 31, 2025 at 03:11AM

Investment Summary


Monthly Cash Flow
-$756
Cap Rate
3.0%
Cash-on-Cash Return
-14.2%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.7%

Property Description


0.90 Acres Lot
Built in 2005
For Sale - Active
Units n/a

Modern townhouse in Uptown on the Midtown Greenway. This is the only unit for sale that doesn't look directly at other units so it offers great privacy. Dramatic contemporary interior space. Everything is in walking distance and steps away.Surrounded by great restaurants and shops.Enjoy carefree living in this unique and private Uptown Townhouse development that feels more like an urban sanctuary! Located close to the Midtown Greenway, restaurants, and shops. Unit boasts dramatic contemporary interior space, underground heated parking with private entrance, patio, and more! Master bedroom and loft area have vaulted ceilings.

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Location


Property Details


Parking

  • Description: Attached Garage, Garage Door Opener, Insulated Garage, Tuckunder Garage
  • Details: Heated Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

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

Interior Features

  • # of Rooms: 5
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Flat

HOA

  • Has HOA: Yes
  • Association: First Service Residential
  • HOA Fee: $516/monthly

Land Information

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

Lot Information

  • Parcel ID: 3302924440341
  • Lot Size: 39204 sqft

Property Information

  • Property Type: Townhouse
  • Style: (TH) Side x Side
  • Year Built: 2005

Tax Information

  • Annual Tax: $3,619

Utilities

  • Heating: Forced Air

Location

  • County: Hennepin

Listing Details


Listed by:
John Jake R Davis
Coldwell Banker Realty
(612) 920-5605

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6727088
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$756
Cap Rate
3.0%
Cash-on-Cash Return
-14.2%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.7%

Purchase Details

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Purchase price:
$278,000
Amount financed:
-$222,400
Down payment:
$55,600
Closing costs:
$8,340
Rehab costs:
$0
Initial cash invested:
$63,940
Square feet:
1,030
Cost per square foot:
$270
Monthly rent per square foot:
$2.14

Financing Details

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Loan amount:
$222,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,456
Property tax:
$302
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,912

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$302-$3,619
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (23%)
23%-$516-$6,192
Total operating expenses: (62%)
62%-$1,368-$16,411

Cash Flow


Monthly Yearly
Net operating income:
$700 $8,400
Mortgage payments:
-$1,456 -$17,472
Cash flow:
$756 $9,072