For saleMulti-family
$499,000
1038 W 3rd Ave
Grand Marais MN 55604
3 beds, 1 bath, 1,890 sqft
1038 W 3rd Ave is a 3 beds, 1 bath, 1,890 sqft multi-family home for sale at $499,000 in Grand Marais MN 55604. At 20% down it rents for an estimated $3,700/mo and returns $200/mo a month at a 7.0% 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
- $3,700/mo
- Monthly cash flow
- $200/mo
- Cap rate
- 7.0%
- Cash-on-cash
- 2.4%
- Max offer
- $443,000
Offer ≤ $443,000 (11% below asking) to hit a 1.2 DSCR and 8% cash-on-cash.
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