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Contingent
Listed
$385,000
/mo   Edit
MLS# 5672552
Multi-family
Built 1912
2,279 fin sqft
Minneapolis schools
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    Description:   Fantastic S MPLS location. Large corner lot. Mechanically sound & updated duplex is perfect for owner occupant or an investor. Solid rent history. Owners lived in the property until recently & completed many updates including refinishing hardwood floors, kitchen/bath in upper level unit, windows throughout, repaired stucco, boilers, gutters & recent landscaping. See supplement for details & dates. Many updates throughout. See supplement for details. Lots of natural light in both units, 2 car garage. Current rents = $1480 for Unit 1(lease expires 7/31/21) and $1640 ($50 less for snow/lawn, lease expires 5/31/21) for Unit 2(in unit laundry). The best part of this just may be the potential to increase FSF as both the basement and the third floor have promise to either be separate units or additions to the current units. Plenty of possibilities for the handy owner or savvy investor. Tenants pay utilities, owners pay insurance ($2, 880/year), water/sewer ($1080/year).
    List Price: $385,000
    Price/sq ft: $169
    Property Type: Multi-family
    Listing Status: Contingent
    Contingency: Inspection
    Property Style: Duplex Up and Down
    Year Built: 1912
    Neighborhood/Area: Howe
    City: Minneapolis
    County: Hennepin
    State: MN
    Zip Code: 55406

    Interior

    Fin Sq Ft / Living Area: 2,279 ft²
    Above Ground Living: 2,279 ft²
    Below Ground Living: 0 ft²
    Total Ranges: Two
    Total Refrigerators: Two
    Basement Details: Full, Block

    Exterior

    Heating System: Boiler
    Foundation Size: 1,208 ft²
    Fencing: Chain Link
    Road Frontage: City Street
    Handicap Accessible: None
    Exterior Material: Stucco
    Garage Spaces: 2
    Roof Details: Asphalt, Age Over 8 Years, Rolled/Hot Mop

    Rooms

    Shared Rooms: Other

    Lot

    Acres: 0.15
    Lot Description: Irregular Lot
    Latitude: 44.94117423
    Longitude: -93.22849557
    Lot Size Dim.: W 81x157x9x140
    Zoning: Residential-Multi-Family

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Caretaker Expense: $600
    Annual Electric Expense: $1,800
    Annual Fuel Expense: $300
    Annual Insurance Expense: $2,880
    Annual Maintenance Expense: $400
    Annual Gross Expense: $37,440
    Annual Trash Expense: $720
    Annual Water/Sewer Expense: $1,080
    Tenant Expenses: Electricity, Fuel, Cable TV

    Financial & Taxes

    Tax Year: 2020
    Annual Taxes: $4,920
    Assessment Pending: No
    Taxes w/ Assessments: $4,920

    Income

    Annual Gross Income: $37,440

    Rent

    Unit 1 Monthly Rent: $1,480
    Unit 2 Monthly Rent: $1,640

    Unit

    Total Units: 2

    Miscellaneous

    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

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    Get to know our Home Mortgage Professionals

    Jason
    Roaldson
    CrossCountry
    Justin
    Larson
    Movement
    Jeff
    Zajac
    TruStone
    Jason Roaldson
    Premier Loan Officer
    CrossCountry Mortgage NMLS#308253
    My goal is to be fair and accurate with anyone who trusts me to handle their financing. I believe that trust is the most important ingredient in the relationship between my client and me, which is why I focus on transparency with my clients so they understand from where all of the numbers in their transactions are derived. When trust is high and stress is low, purchases close on time. My Promise to you is we close on time, every time. We have open communication throughout the process, and I am accountable in all that I do. I am committed to serving you, I am committed to excellence, and I am committed to your 100% satisfaction. I am a 20 year veteran in the financing industry and have worked in every segment of the mortgage industry including banking, brokering, and correspondent lending. I have been fortunate to be a multi-year recipient of the Super Mortgage Professional designation given by the Twin Cities Business Magazine, the Minneapolis/St. Paul Magazine, and the Minnesota Monthly Magazine which are professional publications in my market.
    612.268.1503

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