2733 Virginia Avenue N, New Hope, MN 55427 - MLS# 7132087
$550,000
Solid investment opportunity in a desirable New Hope location! This fully rented 4-unit property offers an attractive combination of established rental income and a well-maintained building. Each unit provides comfortable living space, while the clean, well-kept common areas create a welcoming environment for residents and add to the overall appeal of the property. With all four units currently leased, this is an excellent opportunity for an investor looking for a property with established occupancy and income already in place. Conveniently located near shopping, dining, parks, schools, and major roadways, this property offers both tenant appeal and long-term investment potential.
Interior Information
Size & Levels
Exterior & Parking
Lot & Utilities
Financial & Tax Information
Location
Neighborhood at a Glance
In this neighborhood, homes were most commonly built in 1960-1969, about 57% of occupied homes are owner-occupied, and the average commute is 18 minutes.
Cost of Ownership
Median home value
$345,700
Similar to the New Hope median
The midpoint of estimated values for owner-occupied homes.
Median property taxes paid
$4,566/yr
Similar to the New Hope median
The midpoint of annual property taxes paid by homeowners.
Typical monthly owner costs (with mortgage)
$1,990/mo
Similar to the New Hope median
Median monthly housing costs for owners with a mortgage.
Typical monthly owner costs (no mortgage)
$865/mo
Higher than the New Hope median
Median monthly housing costs for owners without a mortgage.
Median rent
$1,432/mo
Higher than the New Hope median
The midpoint of monthly gross rent, including utilities.
Homes in the Area
Owner-occupied homes
57%
Higher than New Hope overall
The share of occupied homes lived in by their owners.
Median year built
1970
Similar to the New Hope median
The midpoint of years when homes in the area were built.
Home age by decade
The share of homes built during each period.
- 1970-197932%
- 1960-196941%
- 1950-19598%
Types of homes
The share of housing units in each building type.
- Single-family detached53%
- 5+ units40%
Getting Around
Average commute
18 min
Lower than the New Hope median
The average one-way travel time to work for commuters.
How people get to work
The share of workers using each listed way to get to work.
- Drive alone78%
- Carpool5%
- Work from home16%
Homes with broadband
95%
Higher than New Hope overall
The share of households with a broadband internet subscription.
