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For Sale:  New Hope MLS# 6760624

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Active NEW!
$640,000
/mo Edit
Multi-family:  Duplex Side by Side
Built 1971
3,734 sqft • 0.3 acres
Robbinsdale schools
MLS# 6760624
763-576-8286
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    Property Description

    Introducing a rare and exceptional opportunity to own a fully renovated side-by-side duplex, each unit offering 3 spacious bedrooms and 3 beautifully updated bathrooms. Perfectly positioned on a scenic Golf course, this property blends modern living with peaceful, green surroundings. Whether you're an investor seeking a solid, turn-key asset or a homebuyer looking to live in one unit while generating income from the other, this property checks all the boxes. Both units have been thoughtfully renovated from top to bottom, featuring brand-new kitchens with modern cabinetry, sleek countertops, and stainless-steel appliances. Fresh flooring, updated lighting, and stylish fixtures run throughout, while the bathrooms boast high-end tile work and contemporary vanities. Each side offers a spacious layout and is perfect for today's lifestyle. Step outside and enjoy views of the meticulously maintained golf course from your backyard, a truly rare setting for a multi-family property. Investment financials are as follows: When fully rented, the duplex generates $60, 000 in annual rental income ($2, 500 per unit per month). Operating expenses total $14, 160 annually, including $4, 800 for insurance, $8, 400 in property taxes, and $960 for utilities. This results in a net operating income (NOI) of $45, 840. The investment reflects a 7.16% cap rate, a debt service coverage ratio (DSCR) of 1.21, and an expense ratio of 24%, making it a solid income-producing opportunity.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $640,000
    Price per sq ft: $171
    Property Type: Multi-family
    City: New Hope
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1971
    State: MN
    Property Style: Duplex Side by Side
    Zip Code: 55428
    Subdivision Name: Registered Land Tract D Surv 1

    Interior

    Finished Area: 3,734 ft2
    Living Area: 3,734 ft2
    Ranges: One Per Unit
    Refrigerators: One
    Basement Details:
    • Block
    • Daylight/Lookout Windows
    • Egress Window(s)
    • Finished

    Exterior

    Stories: More Than 2 Stories
    Garage Spaces: 2
    Garage Size: 249 ft2
    Foundation Size: 1,992 ft2
    Fencing: Chain Link, Wood
    Handicap Accessible: None
    Heating System: Forced Air
    Parking Features:
    • Attached Garage
    • Garage Door Opener
    • Insulated Garage
    • Multiple Garages
    • On-Street Parking Only
    • Shared Driveway
    • Units Vary
    Road Frontage: City Street
    Exterior Material: Stucco
    Roof Details: Age Over 8 Years

    Lot & Land

    Acres: 0.3
    Geolocation: 45.059249, -93.380862
    Lot Dimensions: 100 x 132
    Lot Description:
    • Many Trees
    • On Golf Course

    Farm

    Topography: Sloped

    Schools

    School District: 281
    District Phone: 763-504-8000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: None
    Annual Fuel Expense: None
    Annual Insurance Expense: $4,177
    Annual Maintenance Expense: None
    Annual Gross Expense: $6,577
    Annual Trash Expense: $550
    Annual Water/Sewer Expense: $1,850
    Tenant Expenses: Electricity, Fuel

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $8,126
    Lender-owned: No
    Assessment Pending: Unknown
    Taxes w/ Assessments: $8,126

    Income

    Annual Gross Income: $30,000

    Units

    Total Units: 2

    Miscellaneous

    Fuel System:
    • Electric
    • Natural Gas
    Sewer System: City Sewer/Connected
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Listing provided by RMLS, courtesy of Keller Williams Classic Rlty NW.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.