For saleCondo
$155,000
6615 Lake Shore Dr S Apt 917
Richfield MN 55423
2 beds, 2 baths, 1,190 sqft
6615 Lake Shore Dr S Apt 917 is a 2 beds, 2 baths, 1,190 sqft condo home for sale at $155,000 in Richfield MN 55423. At 20% down it rents for an estimated $1,700/mo and returns $93/mo a month at a 7.2% 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
- $1,700/mo
- Monthly cash flow
- $93/mo
- Cap rate
- 7.2%
- Cash-on-cash
- 3.6%
- Max offer
- $140,500
Offer ≤ $140,500 (9% below asking) to hit a 1.2 DSCR and 8% cash-on-cash.
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