3033 15th Ave S - Financials
Unit |
Style |
Baths |
Monthly |
Annually |
Resident Pays |
Expiration |
| 301 | 1 BR | 1 | $950 | $11,400 | Electricity | Month To Month |
| 302 | 1 BR | 1 | $1,045 | $12,540 | Electricity | Month To Month |
| 303 | Studio | 1 | $950 | $11,400 | Electricity | 1/31/26 |
| 304 | Studio | 1 | $895 | $10,740 | Electricity | 4/30/26 |
| 305 | 1 BR | 1 | $1,010 | $12,120 | Electricity | 5/31/25 |
| 306 | 1 Br | 1 | $1,050 | $12,600 | Electricity | Month To Month |
| 307 | 1 Br | 1 | $1,050 | $12,600 | Electricity | Month To Month |
| 308 | 1 Br | 1 | $1,050 | $12,600 | Electricity | Month To Month |
| Total | 8 | 4 | $8,000 | $96,000 | Electricity | Month To Month |
Laundry income brings in approximately $100 per month
Expenses |
Monthly |
Annually |
% of Gross Rent
|
Notes |
| Property Taxes | $187 | $2,238 | 2.3% | 2025 |
| Insurance | $310 | $3,722 | 3.8% | 2025 |
| Rental License | $25 | $305 | .03% | Tier 1 |
| Gas | $254 | $3,048 | 3% | Centerpoint Energy |
| Electricity | $43 | $521 | .05% | Xcel Energy |
| Water & Sewer | $309 | $3,707 | 3.8% | City of Minneapolis |
| Trash | $210 | $2,521 | 2.6% | |
| Property Management | $480 | $5,760 | 6% |
Currently Self Managed Estimated at 6% |
| Caretaker | $295 | $3,540 | 3.6% | |
| Routine Maintenance | $545 | $5,442 | 6% | Varies |
| Total | $2,567 | $30,804 | 32% |
| Investment Analysis |
Monthly | Annually |
| Scheduled Rent | $8,000 | $96,000 |
| Estimated Vacancy at 5% | -$400 | -$4,800 |
| Laundry Income | $107 | $1,280 |
| Effective Gross Income | $7,707 | $92,480 |
| Expenses | -$2,567 | -$30,804 |
| Net Operating Income | $5,140 | $61,676 |
Sales Price | $795,000 |
Price Per Unit | $116,667 |
Price Per Sq Ft | $99,375 |
Down Payment (25%) | $198,750 |
New Financing | $596,250 |
Example Financing at 6.5%, amortized over 25 years* | $4,026 / month | $48,311 / year |
Cash Flow | $1,114 / month | $13,365 / Year |
Debt Coverage Ratio | 1.28 |
Rent To Value Ratio | 1% |
Gross Rent Multiplier | 12 |
Cap Rate | 7.8% |
Download Offering Memorandum Here.
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
Click here to view property photos, video, floor plan and virtual tour.
