For saleMulti-family
$579,000
3024 Chicago Ave
Minneapolis MN 55407
5 beds, 3 baths, 2,775 sqft
3024 Chicago Ave is a 5 beds, 3 baths, 2,775 sqft multi-family home for sale at $579,000 in Minneapolis MN 55407. At 20% down it rents for an estimated $4,500/mo and returns $367/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
- $4,500/mo
- Monthly cash flow
- $367/mo
- Cap rate
- 7.4%
- Cash-on-cash
- 3.8%
- Max offer
- $531,500
Offer ≤ $531,500 (8% below asking) to hit a 1.2 DSCR and 8% cash-on-cash.
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