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Greater Minnesota › Detroit Lakes

Detroit Lakes

Greater Minnesota city. Every 2–4 unit listing here, run through the same numbers at 20% down and 7%.

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Neighborhood profile

Listings we track
2
Median price per unit
$271K
Typical cash flow
−$1,963
median per month, 20% down
Rent rules
No cap
Rents can reset to market at renewal

Crime, rental-license and Census neighborhood figures are only available for St. Paul and Minneapolis so far.

Map

Top picks

Ranked on real rent estimates (nearby comparable rentals or our own research). Listings with a serious red flag are under Proceed with caution instead, however good the numbers look.

None yet with verified rents. Every listing here is ranked on rough rent estimates for now (tagged “rough” below); those are places with too few rentals nearby to compare.

Ways to slice it

Best cash flow now

Monthly cash flow at 20% down.

  1. 1311 Summit Ave serious flag −$1,206/mo
  2. 27096 Little Floyd Lake Rd serious flag −$2,720/mo

Best long-term

Year-30 wealth vs. the same money in stocks.

  1. 1311 Summit Ave serious flag 1.29× stocks
  2. 27096 Little Floyd Lake Rd serious flag 0.34× stocks

Value-add

Under-rented, needs work, or room to negotiate.

  1. 1311 Summit Ave serious flag Long time on market: room to negotiate.
  2. 27096 Little Floyd Lake Rd serious flag Long time on market: room to negotiate.

Proceed with caution

Decent numbers, serious flags.

  1. 1311 Summit Ave Underwriting at ask is deeply negative; price is far above what rents support

All listings

2 listings. Filter by price or units, or switch the down payment.

  1. 1311 Summit Ave

    $950,000 · 4 units
    Overpriced
    Cash flow −$1,206/mo Cap 4.9% Break-even price $723K Yr 30 vs stocks 1.29× Positive in yr 11

    Pretty location, but at $950K the numbers lose over $1,200 a month, and the deal only works well below ask.

    Underwriting at ask is deeply negative; price is far above what rents support

  2. 27096 Little Floyd Lake Rd

    $610,000 · 2 units
    Far off
    Cash flow −$2,720/mo Cap 1.0% Break-even price $99K Yr 30 vs stocks 0.34× Positive in 30+ yrs

    A nice lake duplex, but at $610K the long-term rent numbers lose about $2,700 a month, so only proven short-term income could justify it.

    Income is a vacation rental and no revenue is given. One unit is owner occupied, so there is no current tenant rent.

Monthly cash flow

−$3,000−$2,500−$2,000−$1,500−$1,000−$500$0break-even1311 Summit Ave−$1,20627096 Little Floyd Lake Rd−$2,720

What's changing

Nothing curated for this city yet.