110 3rd Ave N
Fourplex · 4 units: 2 bed / 1 bath and 1 bed / 1 bath ×3 unit split estimated · 2,200 sq ft
Biwabik, MN · View the listing ↗
Photos courtesy of Grand Properties, via Realtor.com.
- Asking price
- $160,000 4 units · $40K per unit
- Monthly cash flow
- $1,007 at 20% down, 7%
- Estimated rent
- $3,675/mo medium confidence
- Break-even price
- $349,152 where cash flow hits $0
First look
Four units in Biwabik at $160K is cheap on paper, and our underwriting shows about $1,007/month cash flow and a 14% cap rate. Don't trust that yet. Owner pays all utilities and heat, and our model may not be charging you for that, plus taxes are unverified because the parcel didn't match. Two of the four units are vacant, so only $1,900 of rent is actually in place, and the other $1,775 is the seller's asking rent. The photos show dated, low-end finishes and a stone foundation, so inspect before anything else. Worth a showing only if the rent roll, utility bills and tax figures hold up.
Things to consider
- Utilities included can flip the cash flow Heat and electric for four units in northern Minnesota can run hundreds a month. Our cash flow may not fully reflect that, so rebuild it using actual bills.Listing says: “All the utilities and heat are included in the tenants' rent.”
- Only $1,900 of rent is in place Half the units are vacant and the tenants are month-to-month. The underwriting assumes the vacant units fill near asking.Listing says: “Current tenants are on month-to-month or soon-to-be-expiring leases.”
- Taxes and unit count are unverified No county parcel match means the tax figure in our numbers is a guess. A higher bill cuts directly into the cap rate.
- Finishes are dated, so expect turnover costs Worn flooring, old cabinets and basic baths mean make-ready costs for the vacant units and slower rent growth.From photo 9
- Systems updates are a real plus, if verified New water heaters, breaker panel and metal roof reduce near-term capex, but get permits and receipts.Listing says: “The electrical service has been updated to all breakers”
- Stone foundation on a 1920 building Stone foundations can leak or shift, and repairs are costly. Inspect before you rely on low capex.From photo 10
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- 2-bedroom a: $1,000 (month-to-month)Listing says: 2 two-bedrooms (both leased currently $1000 and $900/month)
- 2-bedroom b: $900 (month-to-month)Listing says: 2 two-bedrooms (both leased currently $1000 and $900/month)
- 1-bedroom: $835 (vacant)Listing says: a one-bedroom ($835/month vacant)
- Efficiency: $750 (vacant)Listing says: one efficiency apartments ($750/month vacant)
Condition and repairs
- doneThree new water heatersListing says: Three new water heaters in the last three years.
- doneFurnace converted to natural gasListing says: The furnace has also been updated to natural gas.
- doneElectrical service updated to breakersListing says: The electrical service has been updated to all breakers
- doneMetal roof and attic insulationListing says: Metal roof and blown-in insulation in the attic make this fairly easy to heat.
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
- $160,000
- Cash to close
- $20,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $810/mo
- Cash-on-cash
- 46.7%
- Cap rate
- 13.9%
- DSCR
- 1.77×
Break-even
- Price that breaks even
- $283,705
- Rent that breaks even
- $2,636/mo
Long run
- Year 30: property vs stocks
- $2.05M vs $158K
- Cash flow turns positive
- year 1
The deal
- Price
- $160,000
- Cash to close
- $20,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $499/mo
- Cash-on-cash
- 28.8%
- Cap rate
- 11.6%
- DSCR
- 1.48×
Break-even
- Price that breaks even
- $236,241
- Rent that breaks even
- $2,957/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $158K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $19,500
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $876/mo
- Cash-on-cash
- 53.9%
- Cap rate
- 14.9%
- DSCR
- 1.89×
Break-even
- Price that breaks even
- $283,705
- Rent that breaks even
- $2,552/mo
Long run
- Year 30: property vs stocks
- $2.10M vs $148K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $19,500
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $565/mo
- Cash-on-cash
- 34.8%
- Cap rate
- 12.4%
- DSCR
- 1.57×
Break-even
- Price that breaks even
- $236,241
- Rent that breaks even
- $2,863/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $148K
- Cash flow turns positive
- year 1
The deal
- Price
- $160,000
- Cash to close
- $36,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $1,007/mo
- Cash-on-cash
- 32.8%
- Cap rate
- 13.9%
- DSCR
- 2.18×
Break-even
- Price that breaks even
- $349,152
- Rent that breaks even
- $2,384/mo
Long run
- Year 30: property vs stocks
- $2.20M vs $280K
- Cash flow turns positive
- year 1
The deal
- Price
- $160,000
- Cash to close
- $36,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $696/mo
- Cash-on-cash
- 22.7%
- Cap rate
- 11.6%
- DSCR
- 1.82×
Break-even
- Price that breaks even
- $290,738
- Rent that breaks even
- $2,674/mo
Long run
- Year 30: property vs stocks
- $1.71M vs $280K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $34,500
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $1,060/mo
- Cash-on-cash
- 36.9%
- Cap rate
- 14.9%
- DSCR
- 2.33×
Break-even
- Price that breaks even
- $349,152
- Rent that breaks even
- $2,316/mo
Long run
- Year 30: property vs stocks
- $2.24M vs $263K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $34,500
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $749/mo
- Cash-on-cash
- 26.1%
- Cap rate
- 12.4%
- DSCR
- 1.94×
Break-even
- Price that breaks even
- $290,738
- Rent that breaks even
- $2,598/mo
Long run
- Year 30: property vs stocks
- $1.75M vs $263K
- Cash flow turns positive
- year 1
The deal
- Price
- $160,000
- Cash to close
- $44,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $1,060/mo
- Cash-on-cash
- 28.4%
- Cap rate
- 13.9%
- DSCR
- 2.33×
Break-even
- Price that breaks even
- $372,429
- Rent that breaks even
- $2,316/mo
Long run
- Year 30: property vs stocks
- $2.26M vs $341K
- Cash flow turns positive
- year 1
The deal
- Price
- $160,000
- Cash to close
- $44,800
- Price per unit
- $40,000
- GRM
- 3.6
Each month
- Cash flow
- $749/mo
- Cash-on-cash
- 20.1%
- Cap rate
- 11.6%
- DSCR
- 1.94×
Break-even
- Price that breaks even
- $310,120
- Rent that breaks even
- $2,598/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $341K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $42,000
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $1,110/mo
- Cash-on-cash
- 31.7%
- Cap rate
- 14.9%
- DSCR
- 2.48×
Break-even
- Price that breaks even
- $372,429
- Rent that breaks even
- $2,252/mo
Long run
- Year 30: property vs stocks
- $2.29M vs $320K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $42,000
- Price per unit
- $37,500
- GRM
- 3.4
Each month
- Cash flow
- $799/mo
- Cash-on-cash
- 22.8%
- Cap rate
- 12.4%
- DSCR
- 2.07×
Break-even
- Price that breaks even
- $310,120
- Rent that breaks even
- $2,526/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $320K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$958 |
| PMI | −$90 |
| Cash flow | $810 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$958 |
| PMI | −$90 |
| Cash flow | $499 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$898 |
| PMI | −$84 |
| Cash flow | $876 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$898 |
| PMI | −$84 |
| Cash flow | $565 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$852 |
| Cash flow | $1,007 |
| Principal paid down (equity, not cash) | $108 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$852 |
| Cash flow | $696 |
| Principal paid down (equity, not cash) | $108 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | $1,060 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | $749 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | $1,060 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | $749 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Net operating income | $1,858 |
| Mortgage (principal + interest) | −$748 |
| Cash flow | $1,110 |
| Principal paid down (equity, not cash) | $95 |
| Rent | $3,675 |
| Vacancy (6%) | −$220 |
| Collected | $3,454 |
| Property tax Listing | −$262 |
| Insurance Estimate | −$346 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$294 |
| Capital reserve (8% of rent) | −$294 |
| Property management | −$311 |
| Net operating income | $1,547 |
| Mortgage (principal + interest) | −$748 |
| Cash flow | $799 |
| Principal paid down (equity, not cash) | $95 |
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
- $365,060
- Rental profits, invested at 7%
- $1,683,984
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $144,000 of loan.
$662,755 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $158,335
$20,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,890,709 ahead after 30 years.
- Your equity when you sell
- $365,060
- Rental profits, invested at 7%
- $1,200,372
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $144,000 of loan.
$485,258 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $158,335
$20,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,407,097 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,753,597
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $135,000 of loan.
$684,581 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,439
$19,500 put into an index fund instead of the down payment and closing costs.
The building comes out $1,947,402 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,269,985
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $135,000 of loan.
$507,084 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,439
$19,500 put into an index fund instead of the down payment and closing costs.
The building comes out $1,463,790 ahead after 30 years.
- Your equity when you sell
- $365,060
- Rental profits, invested at 7%
- $1,832,493
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $128,000 of loan.
$705,397 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $280,131
$36,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,917,422 ahead after 30 years.
- Your equity when you sell
- $365,060
- Rental profits, invested at 7%
- $1,348,881
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $128,000 of loan.
$527,899 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $280,131
$36,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,433,810 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,892,824
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $120,000 of loan.
$724,557 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,623
$34,500 put into an index fund instead of the down payment and closing costs.
The building comes out $1,972,445 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,409,212
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $120,000 of loan.
$547,060 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,623
$34,500 put into an index fund instead of the down payment and closing costs.
The building comes out $1,488,833 ahead after 30 years.
- Your equity when you sell
- $365,060
- Rental profits, invested at 7%
- $1,892,824
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $120,000 of loan.
$724,557 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $341,029
$44,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,916,856 ahead after 30 years.
- Your equity when you sell
- $365,060
- Rental profits, invested at 7%
- $1,409,212
Sells for $388,362 (value up 3% a year), minus 6% selling cost ($23,302). Rent paid down $120,000 of loan.
$547,060 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $341,029
$44,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,433,244 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,949,385
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $112,500 of loan.
$742,520 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $319,715
$42,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,971,914 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $1,465,773
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $112,500 of loan.
$565,023 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $319,715
$42,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,488,302 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 $2.05M, stocks $158K. The property wins.
Year 30 (loan paid off): property $1.57M, stocks $158K. The property wins.
Year 30 (loan paid off): property $2.10M, stocks $148K. The property wins.
Year 30 (loan paid off): property $1.61M, stocks $148K. The property wins.
Year 30 (loan paid off): property $2.20M, stocks $280K. The property wins.
Year 30 (loan paid off): property $1.71M, stocks $280K. The property wins.
Year 30 (loan paid off): property $2.24M, stocks $263K. The property wins.
Year 30 (loan paid off): property $1.75M, stocks $263K. The property wins.
Year 30 (loan paid off): property $2.26M, stocks $341K. The property wins.
Year 30 (loan paid off): property $1.77M, stocks $341K. The property wins.
Year 30 (loan paid off): property $2.29M, stocks $320K. The property wins.
Year 30 (loan paid off): property $1.81M, stocks $320K. 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 $975/mo · range $875–$1,075
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 218 2nd St N, Apt 2, Virginia 55792 off market | $1,145 | 2 / 1 | 8.8 mi | 81% |
| 227 6th St S, Unit 2, Virginia 55792 off market | $695 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave E, Unit 104, Virginia 55792 | $995 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave W, Unit 112, Virginia 55792 off market | $995 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave W, Unit 308, Virginia 55792 off market | $995 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave W, Unit 305, Virginia 55792 off market | $995 | 2 / 1 | 8.9 mi | 80% |
| 310 S 8th St, Virginia 55792 off market | $1,000 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave E, Unit 108, Virginia 55792 off market | $995 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave W, Unit 203, Virginia 55792 off market | $995 | 2 / 1 | 8.9 mi | 80% |
| 206 S 4th Ave W, Unit 212, Virginia 55792 off market | $950 | 2 / 1 | 8.9 mi | 80% |
1 bed / 1 bath estimate $900/mo · range $675–$1,125
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 104 5th St S, Virginia 55792 off market | $940 | 1 / 1 | 8.7 mi | 81% |
| 119 1st St N, Virginia 55792 off market | $1,230 | 1 / 1 | 8.8 mi | 81% |
| 408 5th St S, Unit 2, Virginia 55792 off market | $900 | 1 / 1 | 9.0 mi | 80% |
| 604 7th St S, Unit 2, Virginia 55792 | $850 | 1 / 1 | 9.2 mi | 80% |
| 606 7th St S, Unit 2, Virginia 55792 | $880 | 1 / 1 | 9.2 mi | 80% |
| 517 14th St N, Unit 3, Virginia 55792 off market | $875 | 1 / 1 | 9.2 mi | 80% |
| 724 11th St N, Virginia 55792 off market | $750 | 1 / 1 | 9.3 mi | 80% |
| 815 13th St N, Virginia 55792 off market | $1,350 | 1 / 1 | 9.4 mi | 80% |
| 816 Grant Ave, Eveleth 55734 off market | $495 | 1 / 1 | 10.2 mi | 78% |
| 210 1/2 Adams Ave, Unit 210-1, Eveleth 55734 off market | $695 | 1 / 1 | 10.3 mi | 78% |
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
- highOwner pays all utilities and heat, which can eat a big share of rent in a cold climate Listing says: All the utilities and heat are included in the tenants' rent. · AI review
- highHalf the units are vacant, so income is unproven Listing says: a one-bedroom ($835/month vacant) · 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 110 3RD AVE N
- mediumDescription pitches short-term rental use, which may not be allowed by the city and adds management work Listing says: can be used as a short-term rental · AI review
- mediumStone foundation on a 1920 building, needs inspection Based on: photo 10 · AI review
- mediumUnit count and legality unverified without a county match; efficiency and any lower unit need to be licensed Based on: data: rule_flags · AI review
- lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in"
Opportunities
- Both vacant units can be filled near the listed rents, which are close to our estimates Based on: data: rent_estimate · AI review
- Laundry wiring is already run, so adding laundry could add income Listing says: potential laundry room wiring has been run already · AI review
- No rent cap means rents can follow the market Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the trailing-12 utility bills, especially heat and electric? Are the units separately metered?
- How long have the vacant units been empty, and why?
- Are the two leased units on written leases? When do they expire and what's the deposit situation?
- What are the annual property taxes and any special assessments?
- Is it licensed as four units by the city, and are short-term rentals allowed?
- How old is the furnace and is it one system heating all four units?
Bottom line
Cheap four-plex that looks great on paper, but owner-paid utilities, two vacancies and unverified taxes mean you must see real bills before trusting the cash flow. 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. | $3,148 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,150 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 2026-09-11 (24 days); last sold for $139,900 on 2023-04-18; listed for rent at $800/mo on 2022-06-24.
| Date | Event | Price |
|---|---|---|
| Listed | $160,000 | |
| Listed | $160,000 | |
| Sold public record | $139,900 | |
| Removed | — | |
| Listed for rent | $800/mo | |
| Removed | — | |
| Listed for rent | $800/mo | |
| Sold | $139,900 | |
| Listed | $139,900 | |
| Sold public record | $37,000 | |
| Sold public record | $37,000 | |
| Removed | $39,900 | |
| Relisted | $39,900 | |
| Removed | $39,900 | |
| Relisted | $39,900 | |
| Removed | $39,900 | |
| Price changed | $39,900 | |
| Price changed | $50,900 | |
| Listed | $53,500 | |
| Removed | $59,900 | |
| Removed | $59,900 | |
| Price changed | $59,900 | |
| Price changed | $62,500 | |
| Price changed | $66,900 | |
| Price changed | $71,900 |
From the listing Listing
| Listed as | four plex |
| Property tax, 2026 | $3,148 |
| County | St. Louis |
| Parcel number | 015001001170 |
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 Biwabik on rental licensing before you buy.