For saleMulti-family
$950,000
1311 Summit Ave
Detroit Lakes MN 56501
11 beds, 7 baths, 6,892 sqft
1311 Summit Ave is a 11 beds, 7 baths, 6,892 sqft multi-family home for sale at $950,000 in Detroit Lakes MN 56501. At 20% down it rents for an estimated $7,350/mo and returns $568/mo a month at a 7.4% cap rate.
The deal math
Modelled at 20% down on a 30-year loan at current market rates, before management, vacancy and maintenance reserves.
- Estimated rent
- $7,350/mo
- Monthly cash flow
- $568/mo
- Cap rate
- 7.4%
- Cash-on-cash
- 3.6%
- Max offer
- $868,000
Offer ≤ $868,000 (9% below asking) to hit a 1.2 DSCR and 8% cash-on-cash.
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