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RENTAL MARKET ANALYSIS
<br />TABLE R-6
<br />SELECT MARKET RATE & AFFORDABLE APARTMENT PROPERTIES
<br />NEIGHBORING COMMUNITIES
<br />JUNE 2019
<br />SELECT AFFORDABLE PROPERTIES IN NEIGHBORING COMMUNITIES
<br />Occp. No. of Total Unit Description Monthly Rent I Rent/s
<br />Project Name/Location Date Units Vacant Type No. Size Min Max Min
<br />Coachman Ridge 2015 52 0 1BR 9 701 - 738 $790 - $790 $1.07 -
<br />17250 Twin Lake vac. rate: 0.0% 2BR 26 1,018 - 1,018 $945 - $945 $0.93 -
<br />Elk River, MN 3BR 17 1,242 - 1,242 $1,080 - $1,080 $0.87 -
<br />Amenities/Notes: In -unit washer and dryer, dishwasher, water/sewer, garbage, and heat included. Underground parking inch
<br />Elevator, business center, fitness center, community room, and playground.
<br />The Depot of Elk River Station 2011 53 0 1BR 11 796 - 796 $845 - $845 $1.06 -
<br />10653 172nd Avenue NW vac. rate: 0.0% 2BR 26 1,097 - 1,134 $1,013 - $1,013 $0.89 -
<br />Elk River, MN 3BR 16 1,309 - 1,332 $1,134 - $1,134 $0.85 -
<br />Amenities/Notes: In -unit washer and dryer, dishwasher, water/sewer, garbage, and heat included. Underground parking inch.
<br />Elevator, business center, fitness center, community room, and playground.
<br />Northstar Ridge Apts. 2000 37 0 1BR 6 868 - 868 $919 - $1,040 $1.06 -
<br />10060 Dogwood Street vac. rate: 0.0% 2BR 17 965 - 1,095 $1,115 - $1,195 $1.09 -
<br />Coon Rapids, MN 3BR 14 1,386 - 1,386 $1,283 - $1,450 $0.93 -
<br />Amenities/Notes: Dishwasher, in -unit washer and dryer, walk-in closets, garage included, patio/balcony, playground, market
<br />and affordable units available.
<br />Woodland Park 1993 90 2 1BR 5 624 - 624 $1,018 - $1,018 $1.63 -
<br />2614 Cutters Grove Avenue vac. rate: 2.2% 2BR 39 810 - 884 $1,216 - $1,216 $1.38 -
<br />Anoka, MN 3BR 46 1,000 - 1,248 $1,401 - $1,401 $1.12 -
<br />Amenities/Notes: Surface parking and detached garages, laundry facilities, renovated clubhouse, picnic area, playground,
<br />community room, fitness center, volleyball court, utilities included: heat, water, sewer, and trash.
<br />Elm Creek Apts. 1990 144 4 1BR 54 550 - 720 $1,018 - $1,018 $1.41 -
<br />11719 Champlin Drive vac. rate: 2.8% 2BR 60 920 - 950 $1,004 - $1,216 $1.09 -
<br />Champlin, MN 3BR 30 1,150 - 1,200 $1,401 - $1,401 $1.17 -
<br />Amenities/Notes: Surface and garage parking, community room with lounge area, community kitchen, playground, volleyball
<br />basketball courts, walk-in closets in some units, patio/balcony, dishwasher, in -unit washer and dryer in sele
<br />units, laundry facilities. Utilities included: water, sewer, heat, and trash.
<br />Rainbow Plaza Apts. 1989 105 3 1BR 75 624 - 794 $895 - $915 $1.15 -
<br />820 W Main Street vac. rate: 2.9% 2BR 30 936 - 936 $1,050 - $1,050 $1.12 -
<br />Anoka, MN
<br />Amenities/Notes: Balcony/patio, laundry facilities, surface parking, dishwasher., close to public transportation, short term lea
<br />available.
<br />Affordable Total 481 9 1.9% Vacancy Rate
<br />Source: Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH AND CONSULTING
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