A brief analysis of Coon Rapid’s completed new construction homes available on the market. (Updated 07/29/2024)
This post is supplemented with expected property appreciation according to a 2-year and 10-year year-over-year analysis.
Recently reported rental rates are also supplied as a courteous.
*Please note that all estimated calculations are based on data and equations. Market conditions are constantly changing.*
Looking to invest in real estate in Coon Rapids, MN? Look no further than this comprehensive rent analysis of the area. Our analysis includes information on currently available new construction homes, expected appreciation, and expected rental appreciation. We also provide insights into the benefits of working with each individual builder, helping you make an informed decision on your investment. Don’t miss out on this valuable information for your next investment opportunity in Coon Rapids.
What does a 2-bedroom, 2-bathroom house rent for in Coon Rapids?
*Please not that these comparisons were pulled without taking into consideration the finished square footage. These comparisons between apartments/condos/houses/duplexs are approximately $150 lower than the average for just homes/duplexs.*
AVERAGE
$1,693 ±3%
MEDIAN
$1,663
25TH PERCENTILE
$1,486
75TH PERCENTILE
$1,900
Results based on 34, 2-bedroom, 1½ or more bath rentals seen within 12 months
AVERAGE
$1,873 ±4%
MEDIAN
$1,873
25TH PERCENTILE
$1,799
75TH PERCENTILE
$1,947
Results based on 2, 2-bedroom, 1½ or more bath House rentals seen within 12 months
Next, please take a look at some completed new construction homes in the Coon Rapids area…
12697 Eagle St NW, Coon Rapids, MN 55448 & 12681 Eagle St NW, Coon Rapids, MN 55448
Total Bed/Bath: 2/2
Year Built: 2022
Garage Stalls: 2
Stories: One
Foundation Sz: 1,617
Abv Grd Fin SF: 1,617
Acres: 0.057
List Price: $489,900
Public Remarks: Introducing the luxurious Brookside Villas! With over 1600 square feet of single level living, you’ll enjoy the convenience of having no stairs. The stunning kitchen features enameled shaker style cabinets, granite countertops, and a center island that opens up to the dining room – perfect for entertaining guests! Relax in the spacious master bedroom, complete with a walk-in closet and adjoining master bath with a cultured marble dual vanity top and large ceramic walk-in shower. The cozy living room boasts a beautiful fireplace and 10 foot ceilings, providing the perfect ambiance for those cozy nights in. Step outside onto your very own concrete patio, perfect for soaking up the sun and enjoying the beautiful weather. And, with a park across the street that connects to over 50 miles of trails, you’ll never run out of outdoor activities to enjoy. Don’t miss out on this opportunity to live in luxury at Brookside Villas. Come see for yourself and start living the life you deserve!
11118 Cottonwood Street NW, Coon Rapids, MN 55448
Total Bed/Bath: 3/3
Year Built: 2023
Garage Stalls: 2
Stories: Three Level Split
Abv Grd Fin SF: 1,272
Bel Grd Fin SF:
Total Fin SF: 2,079
Acres: 0.057
Listing Price: $435,900
Public Remarks: Great new construction house in Coon Rapids, with maintenance free deck. This is an end unit with private backyard. 3-level split. Kitchen, living room, and deck are all in close proximity to one another, making it great for entertaining family and friends. The ceiling on the main level is 12 feet high. Enjoy all the abundant living space throughout the house: living room, family room, and loft. 3bed/3bath. The loft has a closet and can be converted into a 4th bedroom in the future. Other features include tiled shower, tiled backsplash in the kitchen, and his and hers walk-in closets in the master bedroom. This house is close and convenient to shopping, parks, and entertainment. Do NOT delay, reach out today for 11118 Cottonwood St NW, MN 55448.
1518 100th Avenue NW, Coon Rapids, MN 55433
Total Bed/Bath: 3/3
Year Built: 2022
Garage Stalls: 2
Stories: One
Foundation Sz: 1,903
Abv Grd Fin SF: 1,903
Acres: 0.130
List Price: $439,900
Public Remarks: Same as next…
1534 100th Avenue NW, Coon Rapids, MN 55433
Total Bed/Bath: 2/3
Year Built: 2022
Garage Stalls: 2
Stories: One
Abv Grd Fin SF: 1,903
Total Fin SF: 1,903
Acres: 0.130
List Price: $429,900
Builder: Centra Homes LLC
Public Remarks: Majestic plan with unfinished, walkout basement. Huge Open Floorplan, Deluxe Primary Bath with Separate Tub & Shower. Large kitchen and Granite Countertops, Stainless Kitchen Appliances, Large Kitchen Island, Mainfloor office, Laundry and more!
1153 100th ave nw, coon rapids, mn 55433
Total Bed/Bath: 2/2
Year Built: 2022
Garage Stalls: 2
Stories: One
Foundation Sz: 1,382
Abv Grd Fin SF: 1,382
Acres/Sqft: 0.370
List Price: $399,900
Builder: Centra Homes LLC
Public Remarks: This Brookland plan features single level living, two bedrooms, 2 baths on mainfloor and large unfinished basement, great open floor plan with large kitchen with island, stainless steel appliances, granite countertops, luxury vinyl plank flooring, gas fireplace, sod, landscaping & irrigation system included, and laundry on main level. Close to parks and trails and easy access to several different freeways. Lawncare, snow removal and garbage service included in association fee for easy living!
1231 100th Ave NW, Coon Rapids, MN 55433
Total Bed/Bath: 2/2
Year Built: 2022
Garage Stalls: 2
Stories: One
Foundation Sz: 1,382
Abv Grd Fin SF: 1,382
Acres: 0.140
List Price: $359,900
Builder: Centra Homes LLC
Public Remarks: This Brookland Cottage features single level living, two bedrooms, 2 baths on main floor and large walkout basement, great open floor plan with large kitchen with isla
nd, stainless steel appliances, granite countertops, luxury vinyl plank flooring, sod, landscaping & irrigation system included, and laundry on main level. Close to parks and trails and easy access to several different freeways. Lawncare, snow removal and garbage service included in association fee for easy living!
12124 Osage Street NW, Coon Rapids, MN 55448
Total Bed/Bath: 2/2
Year Built: 2023
Garage Stalls: 3
Stories: One
Foundation Sz: 1,875
Acres:11.2
List Price: $699,900
Builder: NORTHSTAR IMPROVEMENTS LLC
Public Remarks: AMAZING one level living with NO Association on a little over 11 acres (mainly conservation land). Enjoy nature & wildlife right out your back door. This home was custom designed & built to offer you the best of all worlds. Open one level living floor plan with wider doorways, roll in shower, laundry near the primary suite, specialty trim, 4 season porch, oversized triple garage and so much more! Designed to take advantage of the spectacular views! Other features include a dream kitchen featuring a HUGE center island, beverage center, walk in pantry plus custom birch cabinets galore! 3 more lots available if you want to custom build.
What sort of property appreciation is Coon Rapids looking at?
Based on the given data, we can calculate the average annual growth rate of the property value from April 2021 to April 2023 as follows:
– Growth rate from April 2021 to April 2022 = (319458 – 294865) / 294865 = 8.35%
– Growth rate from April 2022 to April 2023 = (319335 – 319458) / 319458 = -0.04%
– Average annual growth rate = (1 + 8.35%) * (1 – 0.04%)^(1/2) – 1 = 3.15%
Using the average annual growth rate of 3.15%, we can estimate the value of the property in Coon Rapids, Minnesota for 2025 as follows:
– Value in April 2025 = 319335 * (1 + 3.15%)^2 = $352,698 (rounded to the nearest dollar)
*Please note that this is an estimated value based on the given data and growth rate, and actual market conditions may vary.*
To calculate the value of the property in Coon Rapids, Minnesota for April 2033, we can use the historical data and calculate the average annual growth rate over the past 10 years (2013-2023), then use that growth rate to project the value of the property for April 2033.
– Growth rate from 2013 to 2023 = (303400 – 131250) / 131250 = 131.79%
– Average annual growth rate = (1 + 131.79%)^(1/10) – 1 = 9.01%
Using the average annual growth rate of 9.01%, we can estimate the value of the property in Coon Rapids, Minnesota for April 2033 as follows:
– Value in April 2033 = 303400 * (1 + 9.01%)^10 = $1,085,963 (rounded to the nearest dollar)
*Please note that this is an estimated value based on the given data and growth rate, and actual market conditions may vary.*
What is rental appreciation in Minnesota?
Over the last three years, property rents in Minnesota have been on the rise. According to the latest available data, the average rental increase in the state was 2.61%. This means that the cost of renting a property in Minnesota has gone up by an average of 2.61% annually over the past three years. This trend is in line with the national average, which has also seen an upward trend in rental prices. While this may be good news for property owners and investors, it can be challenging for renters who are struggling to keep up with rising rental costs. As a result, many renters are opting to look for more affordable housing options or considering purchasing a property instead.
What sort of return am I looking at for a 3-year investment on an average Coon Rapids home?
First, let’s calculate the expected value of the property after three years based on the 3.15% annual increase:
– Value in year 1 (2024): $319,335 * 1.0315 = $329,950
– Value in year 2 (2025): $329,950 * 1.0315 = $340,904
– Value in year 3 (2026): $340,904 * 1.0315 = $352,198
The expected value of the property after three years is $352,198.
Next, let’s calculate the rental income and expected rental increases over the next three years:
– Rental income in year 1 (2024): $1,693 * 12 = $20,316
– Rental income in year 2 (2025): $1,693 * 1.02 * 12 = $20,721.36
– Rental income in year 3 (2026): $1,693 * 1.02^2 * 12 = $21,138.92
The expected total rental income over the next three years is $62,176.28.
Assuming an estimated 30% of the rental income goes towards expenses such as maintenance, property management, taxes, and insurance, we can calculate the net rental income:
– Net rental income in year 1: $20,316 * 0.7 = $14,221.20
– Net rental income in year 2: $20,721.36 * 0.7 = $14,504.95
– Net rental income in year 3: $21,138.92 * 0.7 = $14,797.24
The expected total net rental income over the next three years is $43,523.39.
Finally, we can calculate the 3-year profit by adding the expected value appreciation and net rental income:
– 3-year profit = expected value appreciation + net rental income
– 3-year profit = $352,198 – $319,335 + $43,523.39
– 3-year profit = $76,386.39
Therefore, the expected 3-year profit on the investment property is $76,386.39. Please note that this is an estimated profit based on the given data and assumptions, and actual results may vary.
