For saleMulti-family
$239,000
1429 31 Spartan Ave
Albert Lea MN 56007
4 beds, 4 baths, 2,276 sqft
1429 31 Spartan Ave is a 4 beds, 4 baths, 2,276 sqft multi-family home for sale at $239,000 in Albert Lea MN 56007. At 20% down it rents for an estimated $1,900/mo and returns $224/mo a month at a 7.6% 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
- $1,900/mo
- Monthly cash flow
- $224/mo
- Cap rate
- 7.6%
- Cash-on-cash
- 5.6%
- Max offer
- $227,500
Offer ≤ $227,500 (5% below asking) to hit a 1.2 DSCR and 8% cash-on-cash.
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