$550,000
Investment Summary
- Monthly Cash Flow
- -$1,341
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -12.7%
- Debt Coverage Ratio
- 0.54
- Internal Rate of Return (5 years)
- -8.3%
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
Located in a serene cul-de-sac in Blaine, this charming 2-bedroom, 2-bathroom home offers the perfect blend of comfort and convenience—perfect for those seeking the ease of single-level living. Enjoy easy access to Sunrise Lake, several scenic ponds, numerous parks, walking paths, and a variety of dining and shopping options—all just minutes away. Step inside to a welcoming foyer adorned with elegant crown molding. Just off the entryway, you'll find a well-appointed mudroom featuring a hall closet, wall hooks, and a built-in bench for everyday convenience. A built-in desk area adds the perfect touch for a home office or additional storage needs. The open-concept floorplan creates a spacious and airy feel, with the heart of the home being the gourmet kitchen. This beautifully designed space features stainless steel appliances, granite countertops, rich wood cabinetry, a large center island with pull-out drawers, under-cabinet lighting, and a walk-in 4x4 pantry. Adjacent to the kitchen, the dining area boasts soaring 13-foot vaulted ceilings, a stylish chandelier, and a sliding glass door that leads to the 19x18 cement backyard patio—ideal for indoor-outdoor entertaining. The living room is warm and inviting, complete with a ceiling fan, plush carpeting, a large picture window with backyard views, and a cozy gas fireplace with a stone surround and a classic mantel. Retreat to the spacious primary suite, featuring soft carpeting, a ceiling fan, and windows that allow natural light to fill the space. A generous 10x6 walk-in closet with built-in shelving provides ample storage, while the private en suite bathroom offers a double vanity, tile flooring, and a soaking tub/shower combo with a beautiful tile surround. The second bedroom also features plush carpeting, peaceful views of the front yard, and a large closet with wire shelving. The second full bathroom includes tile flooring, a combination tub/shower with tile surround, and a sizable linen cabinet. A nearby designated laundry room adds extra function, with a utility sink and built-in cabinetry. A true standout feature of this property is the oversized, heated 3-car garage, designed with both functionality and flexibility in mind. It offers 15-foot ceilings, built-in cabinetry, and three separate doors, each equipped with remote openers. One of the stalls is an extra-deep 27 feet—ideal for larger vehicles or expanded storage needs. Everything in the garage is included in the sale including a car lift (with reinforced concrete—an additional 6 inches beneath for enhanced stability), toolbox, cabinetry, and storage bin. The lift accommodates storage for two vehicles, making it perfect for car enthusiasts or those needing extra space. Above the garage, you'll find a finished and carpeted storage area, adding even more usable square footage. Additionally, a natural gas generator provides reliable backup power for peace of mind. Outside, enjoy a low-maintenance lifestyle with an in-ground irrigation system and plenty of space for outdoor relaxation or entertaining. *Additional yearly association fee for Villas in the Lakes - $405.
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Location
Property Details
Parking
- Description: Attached Garage, Insulated Garage, Heated Garage, Concrete, Garage Door Opener
- Details: Concrete, Garage Door Opener, Heated Garage, Storage
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
- Basement: Yes
- Basement Description: Concrete
Exterior Features
- Exterior Walls Materials: Siding (Alum/Vinyl)
- Roof Type: Gable
HOA
- Has HOA: Yes
- Association: Community Development
- HOA Fee: $200/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Townhouse
Lot Information
- Parcel ID: 103123120145
- Lot Size: 10890 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 2015
Tax Information
- Annual Tax: $4,617
Utilities
- Heating: Forced Air
Location
- County: Anoka
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,341
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -12.7%
- Debt Coverage Ratio
- 0.54
- Internal Rate of Return (5 years)
- -8.3%
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:
| $550,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$440,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $110,000 |
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:
| $16,500 |
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:
| $126,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,741 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $316 |
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:
| $1.78 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $440,000 |
|---|---|
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:
| 6.890% |
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:
| $2,895 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $385 |
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:
| $217 |
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:
| $3,497 |
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:
| $3,100 | $37,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$186 | -$2,232 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,914 | $34,968 |
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. | 12% | -$385 | -$4,617 |
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% | -$217 | -$2,604 |
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% | -$248 | -$2,976 |
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% | -$155 | -$1,860 |
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% | -$155 | -$1,860 |
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. | 6% | -$200 | -$2,400 |
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 | 44% | -$1,360 | -$16,317 |
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:
| $1,554 | $18,648 |
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. | -$2,895 | -$34,740 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,341 | $16,092 |