For Sale: Cass Lake MLS# 7057783
Active
NEW!
$259,900
Commercial: 1 Story
9 br • 5 ba • Built 1950
0.026 acres
MLS# 7057783
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Investor opportunity in Cass Lake. This 5-unit apartment building offers strong cash flow, consistent rental demand, and an easy-to-manage one-level layout. The property includes four 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, giving a great mix of rental options for the local market. Located in the heart of Cass Lake, this property has proven to be easy to rent, with vacant units filling quickly when they become available. Investors will appreciate the steady income potential, practical floor plan, and the convenience of all units being on one level for simplified maintenance and tenant access. Whether you are looking to add to your portfolio or step into multi-family investing, this is a solid opportunity with strong rental appeal.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$259,900
Property Type:
Commercial
City:
Cass Lake
Garage Spaces:
0
County:
Cass
Year Built:
1950
State:
MN
Property Style:
1 Story
Zip Code:
56633
Subdivision Name:
West Cass Lake
Interior
Bedrooms:
9
Bathrooms:
5
Exterior
Stories:
One
Garage Spaces:
0
Foundation Size:
4,482 ft2
Foundation Dimensions:
105x46
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
Parking Lot
Lot & Land
Acres:
0.026
Geolocation:
47.375846, -94.612477
Inclusions:
Building, Leases
Lot Dimensions:
100 x 125
Zoning:
Residential-Multi-Family
Schools
School District:
703
District Phone:
2183352204
Expenses
Annual Insurance Expense:
$6,000
Annual Water/Sewer Expense:
$900
Tenant Expenses:
Cable TV, Electricity, Hot Water
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$4,430
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$5,426
Income
Annual Gross Income:
$46,800
Rent
Annual Net Income:
$34,152
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Real Broker, LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.