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$154,000

For Sale - Active
3412 Oak Ridge Rd Apt 317, Hopkins, MN 55305
1 Bed
1 Bath
969 Square Feet
3.35 Acres Lot
Built in 1971
For Sale - Active
1 Units
Checked: 4 hours ago
Updated: Aug 08, 2025 at 03:20AM

Investment Summary


Monthly Cash Flow
-$292
Cap Rate
3.4%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.60
Internal Rate of Return (5 years)
-5.6%

Property Description


3.35 Acres Lot
Built in 1971
For Sale - Active
1 Units

Association fee covers everything including cable, internet, laundry machines, sanitation, water/sewer, AND heat. The only utility bill you have is electric and that has averaged to be $40.00/month. Top floor unit! Welcome to easy living in the desirable Seven Oaks condo community in Minnetonka. This bright and airy top-floor unit features a fresh, open layout with new carpet and paint throughout. Expansive windows fill the space with natural light, while a covered porch—accessible from both the living room and bedroom—offers a peaceful spot to relax outdoors. Enjoy resort-style amenities including free laundry just steps away across the hall, a sparkling in-ground pool, sauna, fitness center, and a massive party room complete with a kitchen, pool table, cozy lounge area, plenty of seating, and a bar—perfect for hosting friends and family. Nestled in a quiet neighborhood near a golf course, shopping, dining, and more, this location offers the perfect blend of convenience and tranquility. Just move in and enjoy—no work, all play!

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Location


Property Details


Parking

  • Description: Heated Garage, Underground
  • Details: Assigned, Heated Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Type: Flat
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: First Service Residential
  • HOA Fee: $686/monthly

Land Information

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

Lot Information

  • Parcel ID: 1311722420285
  • Lot Size: 145926 sqft

Property Information

  • Property Type: Condominium
  • Style: (CC) Low Rise (3- Levels)
  • Year Built: 1971

Tax Information

  • Annual Tax: $1,431

Utilities

  • Water & Sewer: Public
  • Heating: Baseboard, Hot Water
  • Cooling: Central Air

Location

  • County: Hennepin

Listing Details


Listed by:
Jennifer L Morris
Edina Realty, Inc.
(952) 937-8600

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6736999
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$292
Cap Rate
3.4%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.60
Internal Rate of Return (5 years)
-5.6%

Purchase Details

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Purchase price:
$154,000
Amount financed:
-$123,200
Down payment:
$30,800
Closing costs:
$4,620
Rehab costs:
$0
Initial cash invested:
$35,420
Square feet:
969
Cost per square foot:
$159
Monthly rent per square foot:
$1.86

Financing Details

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Loan amount:
$123,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$729
Property tax:
$119
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$974

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: (7%)
7%-$119-$1,432
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: (38%)
38%-$686-$8,232
Total operating expenses: (70%)
70%-$1,255-$15,064

Cash Flow


Monthly Yearly
Net operating income:
$437 $5,244
Mortgage payments:
-$729 -$8,748
Cash flow:
-$292 -$3,504