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$230,000

For Sale - Active
8644 Corcoran Path, Inver Grove Heights, MN 55076
2 Beds
2.0 Baths
1,216 Square Feet
0.03 Acres Lot
Built in 1998
For Sale - Active
1 Units
Checked: 14 hours ago
Updated: Apr 24, 2025 at 05:02AM

Investment Summary


Monthly Cash Flow
-$174
Cap Rate
4.8%
Cash-on-Cash Return
-3.9%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
0.2%

Property Description


0.03 Acres Lot
Built in 1998
For Sale - Active
1 Units

Bright 2-Bedroom, 2-Bath Townhome with New Deck! Welcome to this inviting townhome that blends comfort and convenience in every corner. Boasting two spacious bedrooms and two well-designed bathrooms, this property is ready to fit your lifestyle. The open-concept living area is bathed in natural light and leads directly to a brand-new deck, perfect for relaxing or entertaining guests. The kitchen features sleek countertops, modern appliances, and ample storage—ready to inspire your inner chef. The primary bedroom offers generous space and plenty of storage, while the second bedroom lends itself to flexibility for guests, work-from-home setups, or hobbies. Located close to local shops, restaurants, parks, and major highways, this townhome is not just a home—it's a lifestyle upgrade. With an attached garage and thoughtful outdoor spaces, this property offers everything you need. Seller would like to leave the grill and freezer. Don't miss your chance to see this gem—schedule your visit today!

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Location


Property Details


Parking

  • Description: Attached Garage, Tuckunder Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Partial

HOA

  • Has HOA: Yes
  • Association: Wissota Real Estate
  • HOA Fee: $300/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 204470004020
  • Lot Size: 1306 sqft

Property Information

  • Property Type: Townhouse
  • Style: (TH) Side x Side
  • Year Built: 1998

Tax Information

  • Annual Tax: $1,986

Utilities

  • Heating: Forced Air

Location

  • County: Dakota

Listing Details


Listed by:
Anthony M Lorence
Jason Mitchell Group
(952) 454-5190

Source:
FargoMoorhead Area Association of REALTORS
MLS#: 6684922
FargoMoorhead Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$174
Cap Rate
4.8%
Cash-on-Cash Return
-3.9%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
0.2%

Purchase Details

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Purchase price:
$230,000
Amount financed:
-$184,000
Down payment:
$46,000
Closing costs:
$6,900
Rehab costs:
$0
Initial cash invested:
$52,900
Square feet:
1,216
Cost per square foot:
$189
Monthly rent per square foot:
$1.64

Financing Details

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Loan amount:
$184,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principle & interest:
$1,088
Property tax:
$166
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,394

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$166-$1,986
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (15%)
15%-$300-$3,600
Total operating expenses: (48%)
48%-$966-$11,586

Cash Flow


Monthly Yearly
Net operating income:
$914 $10,968
Mortgage payments:
-$1,088 -$13,056
Cash flow:
$174 $2,088