616 8th St SE

Minneapolis, MN 55414

Part of multiple portfolios

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7 bd, 2 ba | 4,100 sqft | Built in 1910

For Sale

Exclusive

List Price
$835,000

Initial Investment

$227,538

$

about the purchase process.
Features

Occupancy

Occupied

Lease Start

09/01/2020

Lease End

08/26/2022

Property Type

Duplex

Lot Size

4,356

HOA

None

Flood Risk

Not Required

  • Duplex property, both units are occupied
  • Unit 618 has a pet fee included in monthly rent of $35
  • Close vicinity to the University of Minnesota
  • Tenant pool is largely students. Lease terms can be more than 12 months with rent being paid monthly.
  • Leverage our cashflow calculator by clicking on the Financials Tab and looking for the "Cashflow" and "Equity" Tabs. Review your expenses and amortization schedules should you use leverage. Adjust your financial assumptions such as downpayment amount, vacancy rates, and capital expenditures.
  • A vibrant mashup of college-town coffee shops, plus refined dining and lodging for when the parents come to visit. During Gophers sporting events, the neighborhood amps up the excitement at sports bars and restaurants. Arts lovers find plenty to engage with, too, at cultural meccas Northrop Auditorium, the Frederick R. Weisman Art Museum and the iconic Varsity Theater. Learn more about the Area here
  • Learn more about Minneapolis here
See more in Analysis

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Annual Financial Highlights

Expected Rent

$60,420

Expenses

-$12,339

Property Taxes

-$7,217

Loan Payments

-$35,878

Net Cash Flow

$4,987

See more in Financials

Property Characteristics

Inspection Contingency

This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract.
  • This property will be professionally inspected before closing.
  • You'll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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