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$885,000

For Sale - Active
6045 Galpin Lake Rd, Excelsior, MN 55331
4 Beds
5 Baths
4,898 Square Feet
0.58 Acres Lot
Built in 1999
For Sale - Active
1 Units
Checked: 18 hours ago
Updated: Jul 01, 2025 at 02:31AM

Investment Summary


Monthly Cash Flow
-$2,387
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Property Description


0.58 Acres Lot
Built in 1999
For Sale - Active
1 Units

Welcome to this stunning home in Shorewood, located within walking distance to Lake Minnetonka and downtown Excelsior. This home features many updates and has meticulously maintained over the years. The main floor has been beautifully updated (2021-2022) with newer trim, doors, baseboard, casing and staircase spindles. The main floor has 2 bathrooms- 1 with a shower conveniently located near the main floor bedroom. This bedroom was updated with newer carpet (2023) and includes a custom closet organizer. The kitchen showcase a center island, a five-burner gas range, quartz countertops and tile backsplash. There are 3 bedrooms on the upper level including a spacious master bedroom with a private bath that offers a walk-in closet, jetted tub and a separate shower. The walkout lower level leads to a large paver block patio and features a generous amusement room and cozy family room with a three-sided gas-burning fireplace. Don't miss this incredible opportunity!

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Location


Property Details


Parking

  • Description: Attached Garage
  • Details: Asphalt, Shared Driveway, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 3
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 14
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Finished, Walk-Out Access
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Metal
  • Roof Type: Gable

Land Information

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

Lot Information

  • Parcel ID: 3411723430031
  • Lot Size: 25264 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1999

Tax Information

  • Annual Tax: $11,505

Utilities

  • Water & Sewer: Well
  • Heating: Forced Air

Location

  • County: Hennepin

Listing Details


Listed by:
David J Rutledge
Edina Realty, Inc.
(612) 597-2718

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6740517
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$2,387
Cap Rate
2.4%
Cash-on-Cash Return
-14.1%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-9.6%

Purchase Details

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Purchase price:
$885,000
Amount financed:
-$708,000
Down payment:
$177,000
Closing costs:
$26,550
Rehab costs:
$0
Initial cash invested:
$203,550
Square feet:
4,898
Cost per square foot:
$181
Monthly rent per square foot:
$0.82

Financing Details

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Loan amount:
$708,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$4,188
Property tax:
$959
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,427

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$959-$11,505
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (49%)
49%-$1,959-$23,505

Cash Flow


Monthly Yearly
Net operating income:
$1,801 $21,612
Mortgage payments:
-$4,188 -$50,256
Cash flow:
$2,387 $28,644