Minnesota Real Estate Investors Association, Inc.


107 Horseshoe Ln, St Clair, MN 56080

6 Bedrooms / 3 Baths / Multiple Family

Property Status: Pending (Wholesale) |  For Sale: $130,000.00


Property Photos


**Available again!** Off Market Mankato area Duplex; Fantastic >1.5% RTV ratio!


Property Status:
This Property is currently...
  • Status: Pending (Wholesale)
  • For Sale: $130,000.00
Property Details:
6 Bedrooms / 3 Baths / Multiple Family
Property Style:
Split Entry
Year Built:
1977
Finished Sq Ft:
2,331
Garage:
2 Car Detached
Basement:
Unfinished Basement
Owner / Agent:
Wholesale
Property Features:
Central Air
Fireplace
Deck
Patio
Porch
Fenced Yard
Roof Ventilation system * On demand Hot Water * Off Street Cul-de-sac parking
Contact Info
Property Redevelopers LLC
(763) 308-8600

View on Individual's Website
Property Description:

1977-built <> 1983-Detached Double Garage <> 1987-Addition 504 sq.ft.+ full basement;
6 beds / 3 baths Split entry in city limits, 2,331 current finished sq.ft.


> Currently Rented both units: Target Rent - $2,100 ($1,300 + $800) + $200 Garage/Storage rent
> Rentometer Estimated Rent:
> Upper unit 4bd-2ba; Rent = Avg $1,330 / Median 1,450 [25-75% = $1,030-1,630]
> Lower unit 2bd-1ba; Rent Avg/Median = $875 [25-75% = $745-1,030]


Assignable Contract purchase price $130,000 - See Disclaimer Below;
As Is value: $215,000
ARV: $240,000 (Investors - After Repair Value / Marketable Value)
2020 Blue Earth County EMV $190,900


> Great for college students attending: * MSU-Mankato * South Central College-North Mankato Campus * Bethany Lutheran College * Gustavus Adolphus College * Rasmussen College – Mankato
> Great potential for 2 additional beds and 1 bath for the lower unit to increase cash flow
> Additional rent from Detached garage

Property could use cosmetic repair; i.e. flooring & paint, minor exterior cosmetics and landscaping cleanup


Legal Disclaimer: This is a typical Investor Marketable Contract for Wholesale Assignment. Price based on a cash or hard money purchase and includes assignment fee. Property is being sold as-is, and buyer is to pay all closing costs and a negotiated assignment fee. Buyer may be required to pay a non-refundable earnest deposit. Buyers to do their own independent due diligence, i.e. inspections etc. No representations written or oral are made concerning the property or seller. Property Redevelopers LLC make no guarantees concerning property condition, value, characteristics or financial benefit. Equal Opportunity Housing. The property is independently owned. Property Redevelopers LLC is not selling the property for the seller. We have the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as we choose in order to find a prospective buyer to assign this contract to for an assignment fee.


Bonus: Purchase agreement is set up for "Assignment of Beneficial Interest in Land Trust"


Inspection / viewing by appointment, June 25th-27th 10am-noon or 2-4pm


Click the links below or copy and paste the following links into your web browser for:
Additional pictures; https://drive.google.com/open?id=1SQt5291orB2c0BnUew9sxWkItrKdi83t
3D-360; https://360.mnhometours.com/tours/-mNh6YtGP_



Legal Disclaimer:
This is a Wholesale Deal. The investor is not selling the property for the seller. The investor has the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as investor choses in order to find a prospective buyer to assign this contract to for an assignment fee.

Minnesota Real Estate Investors Association, Inc. is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

Contact Us

Minnesota Real Estate Investors Association, Inc.

7040 Lakeland Ave N #200
Brooklyn Park, MN 55428
(763) 432-2809

Proud Chapter of National REIA

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www.MnREIA.com  (Minnesota Real Estate Investors Association, Inc.) does not give legal, tax, economic, or investment advice. MnREIA disclaims all liability for the action or inaction taken or not taken as a result of communications from or to its members, officers, directors, employees and contractors. Each person should consult their own counsel, accountant and other advisors as to legal, tax, economic, investment, and related matters concerning Real Estate and other investments.   Poster may be selling their equitable interest in said property(s).

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