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$360,000

For Sale - Active
6191 Albert Ln, North Branch, MN 55056
4 Beds
2 Baths
2,158 Square Feet
0.31 Acres Lot
Built in 1996
For Sale - Active
Units n/a
Checked: 23 hours ago
Updated: May 29, 2025 at 04:07AM

Investment Summary


Monthly Cash Flow
-$426
Cap Rate
4.9%
Cash-on-Cash Return
-6.2%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.0%

Property Description


0.31 Acres Lot
Built in 1996
For Sale - Active
Units n/a

Welcome to this beautifully updated four-level split in North Branch! Freshly painted throughout, this home features brand-new carpet and stylish new fixtures, creating a modern and inviting feel. With multiple living spaces, generous bedrooms, and a functional layout, there's plenty of room for everyone. Located in a fantastic neighborhood near parks, schools, and shopping, this home offers both comfort and convenience. Don't miss your chance to see this move-in ready gem!

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Location


Property Details


Parking

  • Description: Attached Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 9
  • Basement: Yes
  • Basement Description: Finished
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)

Land Information

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

Lot Information

  • Parcel ID: 160045960
  • Lot Size: 13503 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: (SF) Single Family
  • Year Built: 1996

Tax Information

  • Annual Tax: $3,192

Utilities

  • Heating: Forced Air

Location

  • County: Chisago

Listing Details


Listed by:
Josh A Pomerleau
JPW Realty
(763) 463-7580

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6707879
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$426
Cap Rate
4.9%
Cash-on-Cash Return
-6.2%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.0%

Purchase Details

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Purchase price:
$360,000
Amount financed:
-$288,000
Down payment:
$72,000
Closing costs:
$10,800
Rehab costs:
$0
Initial cash invested:
$82,800
Square feet:
2,158
Cost per square foot:
$167
Monthly rent per square foot:
$1.16

Financing Details

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Loan amount:
$288,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,885
Property tax:
$266
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,326

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$266-$3,192
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$891-$10,692

Cash Flow


Monthly Yearly
Net operating income:
$1,459 $17,508
Mortgage payments:
-$1,885 -$22,620
Cash flow:
$426 $5,112