106 Aspen Ave SW
Cass Lake, MN · View the listing ↗
Photos courtesy of Real Broker, via Realtor.com.
Needs more info before these numbers mean much. No reliable rent estimate: too few comparable rentals close by, and no RentCast estimate.
No rent estimate yet, so the numbers can't be run. Run it yourself in the calculator →
First look
This is a one-story, 5-unit building in Cass Lake at $234,800, about $47K a unit. The description is all sales language and gives no rents, no lease terms, no expenses and no repair history, so there are no numbers to underwrite yet. We also have no county record or rent estimates in FACTS, so taxes and legal unit count are unverified. The photos show cheap, mixed finishes, and the building looks like a converted commercial structure (a sign reads 'North Country Junction') with a dirt lot. Ask for the rent roll, trailing-12 expenses and rental license first, and confirm zoning and unit count before paying for a showing.
Things to consider
- Income is completely unstated Without rents and occupancy you can't judge the cash flow claim. At this price, rents need to be solid to cover taxes, insurance and repairs.Listing says: “offers strong cash flow, consistent rental demand, and an easy-to-manage one-level layout”
- Legal use and conversion risk The exterior looks commercial. An unlicensed or non-conforming conversion can create insurance, financing and licensing problems.From photo 7
- Heating and utilities unknown Baseboard electric heat appears in the bathroom. Who pays for it affects both expenses and tenant turnover.From photo 10
- Long time on market 154 days suggests the price may be too high or issues exist. It also gives leverage to negotiate.
- Unit mix is mostly 2-beds in a small market 2-beds tend to hold tenants longer, but Cass Lake rents are low and the local tenant pool is small. Check comps.Listing says: “four 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
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.
Red flags and opportunities
Watch for
- highNo rents, expenses or occupancy given despite 'strong cash flow' claim Listing says: offers strong cash flow, consistent rental demand, and an easy-to-manage one-level layout · AI review
- highBuilding appears to be a converted commercial structure; confirm legal residential use and licensing Based on: photo 7 · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 106 ASPEN AVE SW
- lowUnpaved dirt lot with standing water; drainage and snow removal are likely owner costs Based on: photo 6 · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 154 days on market
- Claimed quick re-renting suggests demand; verify with vacancy history Listing says: vacant units filling quickly when they become available · AI review
Questions for the agent
- Can I get the current rent roll with lease dates and the trailing-12 expenses?
- Is the building licensed and zoned as 5 residential units, and what was it before?
- How is each unit heated and metered? Who pays heat, electric and water?
- What is the roof's age and what has been updated recently?
- Why has it sat 154 days, and what is the vacancy right now?
- Is there septic or city sewer, and what do annual taxes run?
Bottom line
Cheap per unit, but with no rents, no expenses and a converted-commercial look, this is unproven until the rent roll and zoning check out. AI-assisted summary
What the records say
Where each number comes from
Price history Realtor.com
On the market since 2026-05-04 (154 days, relisted 1×); down $25,100 (9.7%) from the first ask of $259,900; last sold for $220,000 on 2023-10-16.
| Date | Event | Price |
|---|---|---|
| Price changed | $234,800 | |
| Relisted | $249,800 | |
| Removed | — | |
| Price changed | $249,800 | |
| Listed | $259,900 | |
| Sold | $220,000 | |
| Removed | — | |
| Listed | $234,900 | |
| Sold public record | $235,000 | |
| Sold public record | $96,000 | |
| Sold public record | $96,000 | |
| Sold public record | $200,000 | |
| Sold public record | $29,700 |
From the listing Listing
| Listed as | other |
| Property tax, 2025 | $4,430 |
| County | Cass |
| Parcel number | 853442010 |
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 Cass Lake on rental licensing before you buy.