1028 S Cedar Ave
Duplex · 2 units: 2 bed / 2 bath and 3 bed / 2 bath · 2,894 sq ft
Owatonna, MN · View the listing ↗
Photos courtesy of RE/MAX Advantage Plus, via Realtor.com.
- Asking price
- $255,000 2 units · $128K per unit
- Monthly cash flow
- −$184 at 20% down, 7%
- Estimated rent
- $2,575/mo high confidence
- Break-even price
- $220,344 where cash flow hits $0
First look
This is a side-by-side duplex asking $255K, and at 20% down our numbers come out negative (about -$184/mo) with a 5.5% cap rate. Break-even is around $220.3K, so it needs a meaningful cut or an owner-occupant buyer to work. Rent estimates are $1,150 for the 2-bed and $1,425 for the 3-bed, but the listing states no actual rents or lease terms, so ask for them first. The photos show a dated interior, with original kitchen cabinets, peeling plaster and an old stone basement, so budget for work rather than expecting rents at the top of the range. We couldn't match a county parcel, so verify taxes and the unit count before going further. It's worth a showing only if the price comes toward break-even or you plan to live in one side.
Things to consider
- Cash flow is negative at asking At 20% down the deal loses about $184/mo and needs a price near $220.3K to break even, so it depends on price or owner-occupancy.
- No actual rents or lease terms Our rent estimates are $1,150 and $1,425, but nothing confirms a tenant pays that. Get the lease and rent roll.Listing says: “currently owner occupied on one side with a tenant in the other”
- Dated interiors will need budget Original kitchen and paneling suggest updates before you can reach the high end of the rent range.From photo 5
- Old stone foundation A 1900 house with a stone basement warrants a structural and moisture inspection before offering.From photo 10
- Unverified taxes and unit count Taxes drive cash flow and we couldn't match a parcel, so our expenses may be off.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneUpstairs of Unit 1 recently fully renovatedListing says: with the upstairs recently fully renovated
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
The numbers
Edit rents, costs and assumptions
Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).
The deal
- Price
- $255,000
- Cash to close
- $33,150
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$498/mo
- Cash-on-cash
- −18.0%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $179,042
- Rent that breaks even
- $3,205/mo
Long run
- Year 30: property vs stocks
- $740K vs $441K
- Cash flow turns positive
- year 12
The deal
- Price
- $255,000
- Cash to close
- $33,150
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$715/mo
- Cash-on-cash
- −25.9%
- Cap rate
- 4.5%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $145,784
- Rent that breaks even
- $3,589/mo
Long run
- Year 30: property vs stocks
- $615K vs $655K
- Cash flow turns positive
- year 20
The deal
- Price
- $245,000
- Cash to close
- $31,850
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$432/mo
- Cash-on-cash
- −16.3%
- Cap rate
- 5.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $179,042
- Rent that breaks even
- $3,122/mo
Long run
- Year 30: property vs stocks
- $747K vs $391K
- Cash flow turns positive
- year 10
The deal
- Price
- $245,000
- Cash to close
- $31,850
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$650/mo
- Cash-on-cash
- −24.5%
- Cap rate
- 4.7%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $145,784
- Rent that breaks even
- $3,496/mo
Long run
- Year 30: property vs stocks
- $604K vs $587K
- Cash flow turns positive
- year 19
The deal
- Price
- $255,000
- Cash to close
- $58,650
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$184/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $220,344
- Rent that breaks even
- $2,808/mo
Long run
- Year 30: property vs stocks
- $837K vs $495K
- Cash flow turns positive
- year 7
The deal
- Price
- $255,000
- Cash to close
- $58,650
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$402/mo
- Cash-on-cash
- −8.2%
- Cap rate
- 4.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $179,414
- Rent that breaks even
- $3,145/mo
Long run
- Year 30: property vs stocks
- $656K vs $653K
- Cash flow turns positive
- year 16
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$131/mo
- Cash-on-cash
- −2.8%
- Cap rate
- 5.7%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $220,344
- Rent that breaks even
- $2,741/mo
Long run
- Year 30: property vs stocks
- $853K vs $456K
- Cash flow turns positive
- year 6
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$349/mo
- Cash-on-cash
- −7.4%
- Cap rate
- 4.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $179,414
- Rent that breaks even
- $3,070/mo
Long run
- Year 30: property vs stocks
- $651K vs $593K
- Cash flow turns positive
- year 14
The deal
- Price
- $255,000
- Cash to close
- $71,400
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$100/mo
- Cash-on-cash
- −1.7%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $235,033
- Rent that breaks even
- $2,701/mo
Long run
- Year 30: property vs stocks
- $902K vs $561K
- Cash flow turns positive
- year 5
The deal
- Price
- $255,000
- Cash to close
- $71,400
- Price per unit
- $127,500
- GRM
- 8.3
Each month
- Cash flow
- −$317/mo
- Cash-on-cash
- −5.3%
- Cap rate
- 4.5%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $191,375
- Rent that breaks even
- $3,025/mo
Long run
- Year 30: property vs stocks
- $686K vs $684K
- Cash flow turns positive
- year 13
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$50/mo
- Cash-on-cash
- −0.9%
- Cap rate
- 5.7%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $235,033
- Rent that breaks even
- $2,638/mo
Long run
- Year 30: property vs stocks
- $924K vs $528K
- Cash flow turns positive
- year 3
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $122,500
- GRM
- 7.9
Each month
- Cash flow
- −$268/mo
- Cash-on-cash
- −4.7%
- Cap rate
- 4.7%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $191,375
- Rent that breaks even
- $2,954/mo
Long run
- Year 30: property vs stocks
- $686K vs $628K
- Cash flow turns positive
- year 11
Monthly
Monthly breakdown
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,527 |
| PMI | −$143 |
| Cash flow | −$498 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,527 |
| PMI | −$143 |
| Cash flow | −$715 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$432 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$650 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,357 |
| Cash flow | −$184 |
| Principal paid down (equity, not cash) | $173 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,357 |
| Cash flow | −$402 |
| Principal paid down (equity, not cash) | $173 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$131 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$349 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | −$100 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | −$317 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,173 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | −$50 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$400 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$180 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $955 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | −$268 |
| Principal paid down (equity, not cash) | $156 |
Cash flow each year
Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.
30 years
How those totals add up
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $158,429
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $229,500 of loan.
$102,779 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $252,346
- Monthly shortfalls, invested
- $188,665
$33,150 put into an index fund instead of the down payment and closing costs.
$31,641 you'd have paid in while the building lost money, invested instead.
The building comes out $299,232 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $33,181
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $229,500 of loan.
$26,788 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $252,346
- Monthly shortfalls, invested
- $402,275
$33,150 put into an index fund instead of the down payment and closing costs.
$80,019 you'd have paid in while the building lost money, invested instead.
Stocks come out $39,625 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $188,138
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$117,208 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $148,761
$31,850 put into an index fund instead of the down payment and closing costs.
$24,244 you'd have paid in while the building lost money, invested instead.
The building comes out $355,924 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $45,156
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$34,993 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $344,637
$31,850 put into an index fund instead of the down payment and closing costs.
$66,398 you'd have paid in while the building lost money, invested instead.
The building comes out $17,068 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $254,788
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $204,000 of loan.
$146,632 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $446,459
- Monthly shortfalls, invested
- $48,338
$58,650 put into an index fund instead of the down payment and closing costs.
$7,534 you'd have paid in while the building lost money, invested instead.
The building comes out $341,806 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $74,148
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $204,000 of loan.
$53,106 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $446,459
- Monthly shortfalls, invested
- $206,555
$58,650 put into an index fund instead of the down payment and closing costs.
$38,377 you'd have paid in while the building lost money, invested instead.
The building comes out $2,949 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $293,837
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$162,333 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $27,056
$56,350 put into an index fund instead of the down payment and closing costs.
$4,075 you'd have paid in while the building lost money, invested instead.
The building comes out $396,830 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $92,391
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$63,468 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $164,467
$56,350 put into an index fund instead of the down payment and closing costs.
$29,578 you'd have paid in while the building lost money, invested instead.
The building comes out $57,972 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $319,685
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $191,250 of loan.
$172,157 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $543,515
- Monthly shortfalls, invested
- $17,082
$71,400 put into an index fund instead of the down payment and closing costs.
$2,522 you'd have paid in while the building lost money, invested instead.
The building comes out $340,903 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $104,678
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $191,250 of loan.
$70,102 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $543,515
- Monthly shortfalls, invested
- $140,932
$71,400 put into an index fund instead of the down payment and closing costs.
$24,836 you'd have paid in while the building lost money, invested instead.
The building comes out $2,046 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $364,914
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$188,421 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
- Monthly shortfalls, invested
- $5,750
$68,600 put into an index fund instead of the down payment and closing costs.
$823 you'd have paid in while the building lost money, invested instead.
The building comes out $395,961 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $126,566
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$81,330 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
- Monthly shortfalls, invested
- $106,259
$68,600 put into an index fund instead of the down payment and closing costs.
$18,100 you'd have paid in while the building lost money, invested instead.
The building comes out $57,104 ahead after 30 years.
Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.
30 years: this property vs. the same money in stocks
Year 30 (loan paid off): property $740K, stocks $441K. The property wins.
Year 30 (loan paid off): property $615K, stocks $655K. Stocks win.
Year 30 (loan paid off): property $747K, stocks $391K. The property wins.
Year 30 (loan paid off): property $604K, stocks $587K. The property wins.
Year 30 (loan paid off): property $837K, stocks $495K. The property wins.
Year 30 (loan paid off): property $656K, stocks $653K. The property wins.
Year 30 (loan paid off): property $853K, stocks $456K. The property wins.
Year 30 (loan paid off): property $651K, stocks $593K. The property wins.
Year 30 (loan paid off): property $902K, stocks $561K. The property wins.
Year 30 (loan paid off): property $686K, stocks $684K. The property wins.
Year 30 (loan paid off): property $924K, stocks $528K. The property wins.
Year 30 (loan paid off): property $686K, stocks $628K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.
2 bed / 2 bath estimate $1,150/mo · range $1,050–$1,250
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2245 N Cedar Ave, Owatonna 55060 off market | $1,300 | 2 / 1.5 | 2.2 mi | 88% |
| 1999 Hartle Ave, Owatonna 55060 | $1,200 | 2 / 1 | 0.8 mi | 88% |
| 219 S Chambers Ave, Owatonna 55060 off market | $1,125 | 2 / 1 | 0.9 mi | 88% |
| 227 S Chambers Ave, Owatonna 55060 | $1,175 | 2 / 1 | 0.9 mi | 88% |
| 119 S Chambers Ave, Apt 1, Owatonna 55060 off market | $1,200 | 2 / 1 | 1.0 mi | 88% |
| 1208 3rd-lo3rd Ave NE, # 302, Owatonna 55060 off market | $1,200 | 2 / 1 | 1.6 mi | 87% |
| 112 21st St NW, Apt 12, Owatonna 55060 | $985 | 2 / 1 | 2.1 mi | 86% |
| 112 21st St NW, Apt 11, Owatonna 55060 off market | $1,025 | 2 / 1 | 2.1 mi | 86% |
| 112 21st St NW, Apt 2, Owatonna 55060 off market | $995 | 2 / 1 | 2.1 mi | 86% |
| 112 21st St NW, Apt 14, Owatonna 55060 off market | $1,000 | 2 / 1 | 2.1 mi | 86% |
3 bed / 2 bath estimate $1,425/mo · range $1,125–$1,725
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 216 12th St NE, Apt 304, Owatonna 55060 off market | $1,500 | 3 / 1 | 1.6 mi | 87% |
| 1014 Grandview Ave, Owatonna 55060 off market | $1,600 | 3 / 2 | 0.2 mi | 82% |
| 1226 Bellflower Ln NE, Owatonna 55060 off market | $2,000 | 4 / 2 | 2.3 mi | 80% |
| 2245 N Cedar Ave, Owatonna 55060 off market | $1,300 | 2 / 1.5 | 2.2 mi | 79% |
| 1999 Hartle Ave, Owatonna 55060 | $1,200 | 2 / 1 | 0.8 mi | 79% |
| 219 S Chambers Ave, Owatonna 55060 off market | $1,125 | 2 / 1 | 0.9 mi | 78% |
| 227 S Chambers Ave, Owatonna 55060 | $1,175 | 2 / 1 | 0.9 mi | 78% |
| 119 S Chambers Ave, Apt 1, Owatonna 55060 off market | $1,200 | 2 / 1 | 1.0 mi | 78% |
| 407 N Elm Ave, Apt 1, Owatonna 55060 off market | $750 | 3 / 1 | 1.0 mi | 77% |
| 1208 3rd-lo3rd Ave NE, # 302, Owatonna 55060 off market | $1,200 | 2 / 1 | 1.6 mi | 77% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 1028 CEDAR AVE S
- mediumNo rents or lease terms given, and one side is owner-occupied, so there is no verified income. Listing says: currently owner occupied on one side with a tenant in the other · AI review
- mediumTaxes and unit count could not be verified against county records. Based on: data: rule_flags · AI review
- mediumStone-walled basement on a 1900 house. Check the foundation for moisture and movement. Based on: photo 10 · AI review
- lowPeeling plaster and exposed patches on the walls in the kitchen area suggest deferred maintenance. Based on: photo 5 · AI review
Opportunities
- Owner-occupant option: live in one side and rent the other to offset the mortgage. Listing says: making it a great option to live in one unit while generating rental income from the other · AI review
- Separate utilities and laundry in each unit mean tenants likely pay their own utilities. Listing says: Each unit has separate utilities, laundry, and additional basement space. · AI review
- No rent cap, so rents can rise after updating the dated unit. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the current rent and lease terms for the tenant side, and when does the lease end?
- What is the owner-occupied side's market rent, and has it been rented before?
- What are the annual taxes, and is the property licensed as a rental in Owatonna?
- How old are the roof, furnace(s), water heater and electrical panels, and is there one furnace per unit?
- Which unit was renovated upstairs, and what was done and when?
- Any history of basement moisture or foundation repairs?
Bottom line
A dated but usable side-by-side that is negative at asking, so it works mainly if you live in one half or get the price near $220K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit. | $4,802 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,776 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $170 |
| Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent | $0 |
| Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal | $60 |
| Repairs / capital reserve Rulerule. built 1900: +1 pt capital reserve; "fully renovated" in the description: -1 pts each | 7% / 8% |
Price history Realtor.com
On the market since 2026-09-18 (17 days); last sold for $231,300 on 2024-08-29.
| Date | Event | Price |
|---|---|---|
| Listed | $255,000 | |
| Sold | $231,300 | |
| Listed | $235,000 | |
| Sold | $123,900 | |
| Listed | $118,900 |
From the listing Listing
| Listed as | duplex side x side |
| Property tax, 2026 | $4,802 |
| County | Steele |
| Parcel number | 170161229 |
As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.
Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Owatonna on rental licensing before you buy.