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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 MARKET RATE PROPERTIES IN NEIGHBORING COMMUNITIES
<br />Occp. No. of Total Unit Description Monthly Rent Rent/sq. ft.
<br />Project Name/Location Date Units Vacant Type No. Size Min Max Min Max
<br />Homes on the River 2015 31 1 1BR 28 606 - 805 $799 $799 $0.99 $1.32
<br />2022 N Ferry Street Reno. 2017 vac. rate: 3.2% 2BR 3 777 - 777 $1,199 - $1,199 $1.54 - $1.54
<br />Anoka, MN
<br />Amenities/Notes: Surface Paring and Detached Garage, In -Unit Washer & Dryer, Dishwasher, Balconies, Patios, Heat Included.
<br />Granite Shores 2008 67 1 1BR 27 737 - 1,081 $1,309 - $1,519 $1.41 - $1.78
<br />633 Main Street Reno. 2013 vac. rate: 1.5% 1BR + D 5 965 - 1,077 $1,529 - $1,619 $1.50 - $1.58
<br />Elk River, MN 2BR 35 965 - 1,304 $1,409 - $1,879 $1.44 - $1.46
<br />Amenities/Notes: Three story apartments, first floor retail. 24-hour fitness center, pet washing station, underground parking,
<br />additional storage space, balcony, clubhouse, and in -unit washer and dryer.
<br />Northstar Ridge Apts. 2000 19 1 1BR 3 868 - 868 $919 - $1,040 $1.06 - $1.20
<br />10060 Dogwood Street vac. rate: 5.3% 2BR 9 965 - 1,095 $1,115 - $1,195 $1.09 - $1.16
<br />Coon Rapids, MN 3BR 7 1,386 - 1,386 $1,283 - $1,450 $0.93 - $1.05
<br />Amenities/Notes: Dishwasher, in -unit washer and dryer, walk-in closets, garage included, patio/balcony, playground, market rate
<br />and affordable units available.
<br />Meadows of Coon Rapids 1992 148 5 1BR 103 500 - 856 $935 - $1,245 $1.45 - $1.87
<br />1770 121st Avenue NW vac. rate: 3.4% 2BR 32 1,033 - 1,079 $1,385 - $1,400 $1.30 - $1.34
<br />Coon Rapids, MN 3BR 13 1,295 - 1,349 $1,625 - $1,625 $1.20 - $1.25
<br />Amenities/Notes: Surface and garage parking, playground, clubhouse, BBQ/picnic area, basketball court, dishwasher,
<br />patio/balcony, laundry facilities.
<br />Wedgewood Park Apts. 1991 105 2 1BR 42 774 - 774 $1,025 - $1,165 $1.32 - $1.51
<br />3393 Northdale Boulevard NW vac. rate: 1.9% 2BR 48 932 - 1,204 $1,260 - $1,625 $1.35 - $1.35
<br />Coon Rapids, MN 3BR 15 1,155 - 1,155 $1,695 - $1,695 $1.47 - $1.47
<br />Amenities/Notes: BBQ/grilling area, outdoor pool, dishwasher, extra storage available, fitness center, playground, community room,
<br />in -unit washer and dryer.
<br />Wellington Ridge 1991 105 5 1BR 42 565 - 702 $949 - $1,091 $1.55 - $1.68
<br />9787 Palm St NW Reno. 2009 vac. rate: 4.8% 2BR 48 891 - 915 $1,189 - $1,216 $1.33 - $1.33
<br />Coon Rapids, MN 3BR 15 1,100 - 1,100 $1,610 - $1,610 $1.46 - $1.46
<br />Amenities/Notes: Surface and garage parking, basketball court, community room, laundry facilities, playground, dishwasher, extra
<br />storage available, patio/balcony.
<br />Cutters Grove Apts. 1989 238 9 1BR 103 810 - 945 $1,110 - $1,400 $1.37 - $1.48
<br />2901 Cutters Grove Avenue vac. rate: 3.8% 2BR 129 1,050 - 1,225 $1,350 - $1,625 $1.29 - $1.33
<br />Anoka, MN 3BR 6 1,260 - 1,260 $1,785 - $1,990 $1.42 - $1.58
<br />Amenities/Notes: Car wash, basketball court, BBQ grilling area, patio/balcony, outdoor pool, surface and underground garage
<br />parking, dishwasher, laundry facilities.
<br />Market Rate Total 713 24 3.4% Vacancy Rate
<br />Source: Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH AND CONSULTING
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