For saleCondo
$134,999
1229 Madison Ave Apt 295
Detroit Lakes MN 56501
2 beds, 1 bath, 792 sqft
1229 Madison Ave Apt 295 is a 2 beds, 1 bath, 792 sqft condo home for sale at $134,999 in Detroit Lakes MN 56501. At 20% down it rents for an estimated $1,375/mo and returns $471/mo a month at a 10.7% 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
- $1,375/mo
- Monthly cash flow
- $471/mo
- Cap rate
- 10.7%
- Cash-on-cash
- 20.9%
- Max offer
- $134,999
Works right at asking price for a 1.2 DSCR and 8% cash-on-cash.
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