$728,900
Investment Summary
- Monthly Cash Flow
- -$1,486
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.6%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -6.3%
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
Please see 3D Tour. WOW! This one-owner, former Dingman Custom Homes model is stunning and ready for it's next chapter. Set in Anoka's Rum River Shores Community, this fully-finished & fully-loaded two-story home is amazing. As you pull up to the home, you will be greeted by stunning curb appeal, including an impeccably cared for yard & landscape, a concrete driveway, and a huge concrete front porch. Inside on the main level, you will find a sunlit floorplan that is as open concept as open concept gets, with huge windows, tall ceilings and beautiful solid walnut flooring. The detail & construction quality of a Dingman home is top-notch, and you will feel it here. The main level features a jaw-dropping center island kitchen with a walk-in pantry and so much cabinet & counter space, informal AND formal dining, an enormous family room, a private home office and a huge mud room with a 1/2 bath & walk-in coat closet. Walk directly out to the 16x16 Trex deck from the kitchen, for easy Summer entertaining. Upstairs, you will find four bedrooms & three bathrooms, including a luxurious private primary suite with dual walk-in closets and a deluxe bath with a dual sink vanity, tiled walk-in shower & jetted soaking tub. There is also a junior/princess suite with a walk-in closet & private 3/4 bath, as well as a jack-n-jill bath between the other two bedrooms. The loft space features the same solid walnut floors as the main level, and the laundry room features a drop-in sink, a folding table and front loading high-efficiency machines. The fully finished lower level is fully loaded! It features a modern, remote-controlled gas fireplace, a 5th bedroom, a stunning custom 3/4 bathroom, a 2nd home office and an XXL rec room with built-in media cabinetry and a wet bar with custom cabinetry. In the utility space you will find more than 250 SqFt of unfinished storage space and all the high-end, modern & energy efficient mechanical systems you would expect in a Dingman Custom Home. The private back yard has no neighbors directly behind you, and also features a stamped concrete patio with a built-in fire pit. The neighborhood has so much to offer too! Residents enjoy a heated, in-ground community pool, a playground, and access to adjacent amenities like the Wild & Scenic Rum River, the 200-acre Anoka Nature Preserve & all it's trails, the Rum River Library, the Anoka Ice Arena, Castle Field (baseball) and Anoka High School. Anoka Residents can rent a boat slip on the Rum River from May to October, and there is a slip right in the neighborhood at the west end of Riverside Circle. Nearby Historic Downtown Anoka features locally owned shopping & dining destinations, including antiques & boutiques, karaoke bars, a wine bar, a brewery, two speakeasies, an ice cream shop and more. Check the Anoka Calendar of events to see the Riverfest Craft & Vendor Fair, the Food Truck Festival, the Saturday Classic Car Shows, Wednesday night live music at Veteran's Park and so much more. It is simply FUN to live in Anoka. The best thing is that you can get to downtown by boat or bike, on the river and trails! Ask to see the full list of highlights & features, and read the photo captions for more details about this amazing home. Don't wait. Schedule your showing today, buy this awesome home in this awesome location and love where you live!
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Location
Property Details
Parking
- Description: Attached Garage, Driveway - Concrete, Garage Door Opener
- Details: Garage Door Opener
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 24
- # of Stories: 2
- Basement: Yes
- Basement Description: Full, Storage Space, Sump Pump
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Siding (Alum/Vinyl)
- Roof Type: Hip
- Roof Material: Asphalt, Shingle
HOA
- Has HOA: Yes
- HOA Fee: $305/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 303224330012
- Lot Size: 13068 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 2013
Tax Information
- Annual Tax: $7,509
Utilities
- Water & Sewer: Public
- Heating: Forced Air, Humidity Control
- Cooling: Central Air
Location
- County: Anoka
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,486
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.6%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -6.3%
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:
| $728,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$583,120 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $145,780 |
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:
| $21,867 |
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:
| $167,647 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,449 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $164 |
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:
| $0.88 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $583,120 |
|---|---|
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:
| 5.875% |
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:
| $3,449 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $626 |
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:
| $273 |
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:
| $4,348 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 16% | -$626 | -$7,510 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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. | 3% | -$102 | -$1,224 |
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% | -$1,703 | -$20,434 |
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:
| $1,963 | $23,556 |
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. | -$3,449 | -$41,388 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,486 | -$17,832 |