109 10th Ave SE
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,352 sq ft
Waseca, MN · View the listing ↗
Photos courtesy of Edina Realty, Inc., via Realtor.com.
- Asking price
- $245,000 2 units · $122K per unit
- Monthly cash flow
- −$1 at 20% down, 7%
- Estimated rent
- $2,500/mo medium confidence
- Break-even price
- $244,813 where cash flow hits $0
First look
This is a 2-bed/1-bath duplex in Waseca at $245K, and the listing gives almost nothing to underwrite: no rents, no lease status, no utilities, no taxes. Our estimates put each unit near $1,250, and at the asking price that works out to about -$1 a month with a 6.4% cap rate. Break-even is roughly $245K, so it is essentially break-even at asking, and it only turns clearly positive with a small price cut or rents at the high end of the range. The photos look like an owner-occupied, well-kept but dated unit, so first find out whether either unit is rented and whether the second unit is legal and licensed. It's worth a showing only if the agent can produce rents, tax figures and heat details.
Things to consider
- Numbers are thin at asking price Our estimate shows about -$1 a month and a break-even price near $245K. You need a slightly lower price or higher rents for this to pencil.
- Taxes and unit count are unverified The address didn't match a county parcel. Taxes could differ a lot for an investor, and the legal unit count needs confirming.
- Owner-occupant marketing may mean no rental history Without a rent roll or license, you can't verify income or that the second unit is legal to rent.
- Heat and utility costs are unknown If one boiler serves both units, the owner may pay heat, which could cost more than the cash flow shown.From photo 4
- Waseca has no rent cap Rents can follow the market after turnover or updates, which gives room to grow income.
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.
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
- $245,000
- Cash to close
- $31,850
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- −$302/mo
- Cash-on-cash
- −11.4%
- Cap rate
- 6.4%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $198,925
- Rent that breaks even
- $2,887/mo
Long run
- Year 30: property vs stocks
- $899K vs $321K
- Cash flow turns positive
- year 6
The deal
- Price
- $245,000
- Cash to close
- $31,850
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- −$513/mo
- Cash-on-cash
- −19.3%
- Cap rate
- 5.3%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $166,636
- Rent that breaks even
- $3,238/mo
Long run
- Year 30: property vs stocks
- $698K vs $448K
- Cash flow turns positive
- year 13
The deal
- Price
- $235,000
- Cash to close
- $30,550
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- −$236/mo
- Cash-on-cash
- −9.3%
- Cap rate
- 6.7%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $198,925
- Rent that breaks even
- $2,803/mo
Long run
- Year 30: property vs stocks
- $925K vs $290K
- Cash flow turns positive
- year 5
The deal
- Price
- $235,000
- Cash to close
- $30,550
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- −$448/mo
- Cash-on-cash
- −17.6%
- Cap rate
- 5.6%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $166,636
- Rent that breaks even
- $3,144/mo
Long run
- Year 30: property vs stocks
- $702K vs $396K
- Cash flow turns positive
- year 11
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- −$1/mo
- Cash-on-cash
- −0.0%
- Cap rate
- 6.4%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $244,813
- Rent that breaks even
- $2,501/mo
Long run
- Year 30: property vs stocks
- $1.05M vs $429K
- Cash flow turns positive
- year 2
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- −$212/mo
- Cash-on-cash
- −4.5%
- Cap rate
- 5.3%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $205,076
- Rent that breaks even
- $2,806/mo
Long run
- Year 30: property vs stocks
- $782K vs $492K
- Cash flow turns positive
- year 8
The deal
- Price
- $235,000
- Cash to close
- $54,050
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- $52/mo
- Cash-on-cash
- 1.2%
- Cap rate
- 6.7%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $244,813
- Rent that breaks even
- $2,433/mo
Long run
- Year 30: property vs stocks
- $1.09M vs $411K
- Cash flow turns positive
- year 1
The deal
- Price
- $235,000
- Cash to close
- $54,050
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- −$159/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.6%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $205,076
- Rent that breaks even
- $2,729/mo
Long run
- Year 30: property vs stocks
- $795K vs $450K
- Cash flow turns positive
- year 7
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- $81/mo
- Cash-on-cash
- 1.4%
- Cap rate
- 6.4%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $261,134
- Rent that breaks even
- $2,397/mo
Long run
- Year 30: property vs stocks
- $1.14M vs $522K
- Cash flow turns positive
- year 1
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $122,500
- GRM
- 8.2
Each month
- Cash flow
- −$131/mo
- Cash-on-cash
- −2.3%
- Cap rate
- 5.3%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $218,748
- Rent that breaks even
- $2,688/mo
Long run
- Year 30: property vs stocks
- $839K vs $550K
- Cash flow turns positive
- year 6
The deal
- Price
- $235,000
- Cash to close
- $65,800
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- $130/mo
- Cash-on-cash
- 2.4%
- Cap rate
- 6.7%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $261,134
- Rent that breaks even
- $2,333/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $501K
- Cash flow turns positive
- year 1
The deal
- Price
- $235,000
- Cash to close
- $65,800
- Price per unit
- $117,500
- GRM
- 7.8
Each month
- Cash flow
- −$81/mo
- Cash-on-cash
- −1.5%
- Cap rate
- 5.6%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $218,748
- Rent that breaks even
- $2,617/mo
Long run
- Year 30: property vs stocks
- $858K vs $514K
- Cash flow turns positive
- year 4
Monthly
Monthly breakdown
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$302 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$513 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,407 |
| PMI | −$132 |
| Cash flow | −$236 |
| Principal paid down (equity, not cash) | $179 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,407 |
| PMI | −$132 |
| Cash flow | −$448 |
| Principal paid down (equity, not cash) | $179 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$1 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$212 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,251 |
| Cash flow | $52 |
| Principal paid down (equity, not cash) | $159 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,251 |
| Cash flow | −$159 |
| Principal paid down (equity, not cash) | $159 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | $81 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | −$131 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Net operating income | $1,303 |
| Mortgage (principal + interest) | −$1,173 |
| Cash flow | $130 |
| Principal paid down (equity, not cash) | $149 |
| Rent | $2,500 |
| Vacancy (6%) | −$150 |
| Collected | $2,350 |
| Property tax Listing | −$218 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$200 |
| Capital reserve (8% of rent) | −$200 |
| Property management | −$212 |
| Net operating income | $1,092 |
| Mortgage (principal + interest) | −$1,173 |
| Cash flow | −$81 |
| Principal paid down (equity, not cash) | $149 |
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
- $558,998
- Rental profits, invested at 7%
- $340,073
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$189,769 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $78,360
$31,850 put into an index fund instead of the down payment and closing costs.
$12,035 you'd have paid in while the building lost money, invested instead.
The building comes out $578,261 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $138,562
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$92,145 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $205,837
$31,850 put into an index fund instead of the down payment and closing costs.
$35,157 you'd have paid in while the building lost money, invested instead.
The building comes out $249,273 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $388,462
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $211,500 of loan.
$208,274 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $232,554
- Monthly shortfalls, invested
- $57,136
$30,550 put into an index fund instead of the down payment and closing costs.
$8,714 you'd have paid in while the building lost money, invested instead.
The building comes out $634,954 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $165,934
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $211,500 of loan.
$105,935 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $232,554
- Monthly shortfalls, invested
- $163,596
$30,550 put into an index fund instead of the down payment and closing costs.
$27,122 you'd have paid in while the building lost money, invested instead.
The building comes out $305,966 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $489,202
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$243,041 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $85
$56,350 put into an index fund instead of the down payment and closing costs.
$12 you'd have paid in while the building lost money, invested instead.
The building comes out $619,166 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $223,383
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$132,363 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $63,253
$56,350 put into an index fund instead of the down payment and closing costs.
$10,080 you'd have paid in while the building lost money, invested instead.
The building comes out $290,178 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $549,449
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $188,000 of loan.
$262,190 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $411,442
$54,050 put into an index fund instead of the down payment and closing costs.
The building comes out $674,189 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $259,205
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $188,000 of loan.
$147,410 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $411,442
- Monthly shortfalls, invested
- $38,744
$54,050 put into an index fund instead of the down payment and closing costs.
$5,967 you'd have paid in while the building lost money, invested instead.
The building comes out $345,201 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $581,500
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$272,369 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
$68,600 put into an index fund instead of the down payment and closing costs.
The building comes out $618,297 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $280,435
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$155,847 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
- Monthly shortfalls, invested
- $27,923
$68,600 put into an index fund instead of the down payment and closing costs.
$4,225 you'd have paid in while the building lost money, invested instead.
The building comes out $289,310 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $638,060
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $176,250 of loan.
$290,332 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $500,886
$65,800 put into an index fund instead of the down payment and closing costs.
The building comes out $673,357 ahead after 30 years.
- Your equity when you sell
- $536,183
- Rental profits, invested at 7%
- $321,700
Sells for $570,407 (value up 3% a year), minus 6% selling cost ($34,224). Rent paid down $176,250 of loan.
$171,433 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $500,886
- Monthly shortfalls, invested
- $12,628
$65,800 put into an index fund instead of the down payment and closing costs.
$1,848 you'd have paid in while the building lost money, invested instead.
The building comes out $344,368 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 $899K, stocks $321K. The property wins.
Year 30 (loan paid off): property $698K, stocks $448K. The property wins.
Year 30 (loan paid off): property $925K, stocks $290K. The property wins.
Year 30 (loan paid off): property $702K, stocks $396K. The property wins.
Year 30 (loan paid off): property $1.05M, stocks $429K. The property wins.
Year 30 (loan paid off): property $782K, stocks $492K. The property wins.
Year 30 (loan paid off): property $1.09M, stocks $411K. The property wins.
Year 30 (loan paid off): property $795K, stocks $450K. The property wins.
Year 30 (loan paid off): property $1.14M, stocks $522K. The property wins.
Year 30 (loan paid off): property $839K, stocks $550K. The property wins.
Year 30 (loan paid off): property $1.17M, stocks $501K. The property wins.
Year 30 (loan paid off): property $858K, stocks $514K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
2 bed / 1 bath estimate $1,250/mo · range $1,100–$1,400
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 512 3rd St NE, Apt C, Waseca 56093 off market | $915 | 2 / 1 | 0.8 mi | 93% |
| 516 3rd St NE, Waseca 56093 off market | $1,445 | 2 / 1 | 0.8 mi | 87% |
| 208 N State St, Unit 6, Waseca 56093 | $1,195 | 2 / 1 | 0.6 mi | 85% |
| 208 N State St, Waseca 56093 off market | $1,195 | 2 / 1 | 0.6 mi | 85% |
| 121 N State St, # 121-7, Waseca 56093 off market | $995 | 1 / 1 | 0.6 mi | 84% |
| 121 N State St, Waseca 56093 off market | $995 | 1 / 1 | 0.6 mi | 84% |
| 121 N State St, Unit 7, Waseca 56093 | $995 | 1 / 1 | 0.6 mi | 84% |
| 109 7th St NW, Waseca 56093 | $1,015 | 2 / 1 | 0.7 mi | 83% |
| 801 3rd Ave NE, Apt 1, Waseca 56093 off market | $900 | 1 / 1 | 0.8 mi | 83% |
| 1101 2nd St NW, Apt 104, Waseca 56093 off market | $980 | 2 / 1 | 1.3 mi | 82% |
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 109 10TH AVE SE
- mediumNo rents, lease terms or occupancy info given, so income is entirely our estimate. Listing says: versatile option for an owner-occupant, investment property, or someone looking for additional living space · AI review
- mediumMarketed as flexible owner-occupant space, which suggests it may not be a long-running rental. Rental license status is unknown. Based on: data: city.rental_license · AI review
- mediumHeat type is unknown. The baseboard hot-water heat in the photos may run off one boiler, which could put the heat bill on the owner. Based on: photo 4 · AI review
Opportunities
- Live in one unit and rent the other to cut your housing cost, which may help with owner-occupant financing. Listing says: Whether you're lookin to live in one unit while renting the other · AI review
- Each unit has its own laundry, so tenants don't need shared or coin laundry and it's an easy selling point. Listing says: each with it's own laundry · AI review
Questions for the agent
- Are both units occupied? What are the rents, lease end dates and deposits held?
- Is the heat one boiler or separate per unit, and who pays heat, water and electric?
- What are the current property taxes, and is the second unit a licensed rental with the city?
- How old are the roof, boiler and water heater?
- Are the units separately metered for electric?
- Why is the seller selling, and are they open to a price near $230K?
Bottom line
A clean-looking Waseca duplex that is roughly break-even on cash flow at $245K on our rent estimates, so it's a house-hack or a small-price-cut play, not a strong pure investment. 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. | $2,616 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,388 |
| 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. base rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-10-01 (4 days); last sold for $125,000 on 2017-01-01.
| Date | Event | Price |
|---|---|---|
| Listed | $245,000 | |
| Sold | — | |
| Price changed | $125,000 | |
| Price changed | $127,000 | |
| Listed | $129,900 | |
| Sold public record | $125,000 | |
| Sold public record | $100,000 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2026 | $2,616 |
| County | Waseca |
| Parcel number | 171550030 |
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 Waseca on rental licensing before you buy.