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$845,000

For Sale - Active
3608 Strawberry Ln, Excelsior, MN 55331
4 Beds
4 Baths
3,401 Square Feet
0.23 Acres Lot
Built in 2015
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jun 28, 2025 at 12:02AM

Investment Summary


Monthly Cash Flow
-$1,760
Cap Rate
3.2%
Cash-on-Cash Return
-10.9%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.5%

Property Description


0.23 Acres Lot
Built in 2015
For Sale - Active
Units n/a

Discover the perfect blend of modern living and timeless comfort in this stunning 4-bedroom, 4-bathroom home located in the highly sought-after Minnetonka School District. Built in 2015, this 3,401 sq. ft. home offers everything you've been searching for. Step inside to find a thoughtfully designed main floor featuring a private office, a gourmet kitchen with top-of-the-line finishes, a cozy family room perfect for gatherings, a formal dining room, and a charming four-season porch that invites you to relax year-round. Also on the main floor is a huge pantry, a nice mudroom-with built in lockers, and a spacious laundry room. The upper level is equally impressive, with a luxurious primary suite with a spa-like bathroom, two Jack-and-Jill bedrooms with a shared full bath, and a junior suite with its own private bathroom- ideal for guests or family members. The unfinished basement offers endless possibilities to add your personal touch and expand your living space in the future. Outside, you'll appreciate the composite deck, flat back yard and stamped concrete patio and fire pit. The home also has insulated three-car garage and the convenience of a neighborhood park just steps away, perfect for outdoor fun and community connections. This property is walkable to Minnewashta Elementary, super close to the LRT trail and near Cathcart and Freeman Park. Don't miss this rare opportunity to own a well-maintained home with incredible amenities in a prime location. Minnewashta Elementary, MMW and Minnetonka High School. Schedule your showing today and make this dream home yours!

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Location


Property Details


Parking

  • Description: Attached Garage, Garage Door Opener
  • Details: Asphalt
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Concrete, Unfinished
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Combination

HOA

  • Has HOA: Yes
  • Association: Lennar
  • HOA Fee: $166/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 251410270
  • Lot Size: 10018 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 2015

Tax Information

  • Annual Tax: $8,908

Utilities

  • Heating: Forced Air

Location

  • County: Carver

Listing Details


Listed by:
Matthew Jones
Edina Realty, Inc.
(952) 456-2946

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6746211
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$1,760
Cap Rate
3.2%
Cash-on-Cash Return
-10.9%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.5%

Purchase Details

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Purchase price:
$845,000
Amount financed:
-$676,000
Down payment:
$169,000
Closing costs:
$25,350
Rehab costs:
$0
Initial cash invested:
$194,350
Square feet:
3,401
Cost per square foot:
$248
Monthly rent per square foot:
$1.29

Financing Details

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Loan amount:
$676,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,999
Property tax:
$742
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,049

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$742-$8,908
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (1%)
1%-$55-$660
Total operating expenses: (43%)
43%-$1,897-$22,768

Cash Flow


Monthly Yearly
Net operating income:
$2,239 $26,868
Mortgage payments:
-$3,999 -$47,988
Cash flow:
$1,760 $21,120