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% |
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
