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1105 16th Ave E

Triplex · 3 units: 2 bed / 1 bath and 1 bed / 1 bath ×2 unit split estimated · 1,800 sq ft

Hibbing, MN · View the listing ↗

Cash flows
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Photos courtesy of Coldwell Banker Northwoods Realty, via Realtor.com.

Asking price
$165,000
3 units · $55K per unit
Monthly cash flow
$1,047
at 20% down, 7%
Estimated rent
$3,400/mo
medium confidence
Break-even price
$361,772
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a $165K triplex in Hibbing with almost no detail: the description says only that all three units are rented. It gives no rents, lease terms, utilities or repairs. Our model shows about $1,047/month cash flow and a 14.0% cap rate at asking, but that rests on our rent estimates (~$1,100 to $1,200 per unit) and unverified taxes, so I wouldn't trust it yet. The photos show a dated, heavily lived-in unit with a basement coin laundry, which points to cosmetic wear and possibly lower real rents than we assume. Get the rent roll, leases and 12 months of expenses first. Also confirm it's a legal three-unit building, since we couldn't match a county parcel. It's worth a showing only if the actual rents come close to our estimates.

Things to consider

  1. Rents are unverified The cash flow figure relies entirely on our rent estimates. Actual rents could be lower, and 'rented' says nothing about lease terms.Listing says: “All three units are rented”
  2. Unit count and taxes unconfirmed Without a county match, a legal triplex and the real tax bill are unknown. Both change value and cash flow.
  3. Cosmetic and age-related wear A 1920 building with dated finishes means turnover costs and possible deferred maintenance. Budget reserves accordingly.From photo 6
  4. Hidden systems unknown No photos of heating, panels or roof, and the description says nothing. A 1920 build often means older boilers, wiring or foundations.
  5. Price vs. modeled value Break-even price is far above asking, which leaves a cushion if the rents are real. Verify before relying on it.

From the photos

Listing photo 1
1 of 8Concern

Front of the house appears to be older wood siding and a porch with worn steps and a makeshift ramp. Exterior condition needs a closer look.

Listing photo 2
2 of 8Check

Back has wooden exterior stairs and decks serving upper levels, a sign of multiple entrances. Check their condition and code compliance.

Listing photo 2
3 of 8Plus

Off-street gravel parking behind the building appears to fit several vehicles.

Listing photo 6
4 of 8Concern

Kitchen has older oak-style cabinets, laminate counters, a basic electric range and a window A/C unit. It looks dated but usable.

Listing photo 8
5 of 8Check

Bathroom has a fiberglass corner shower and a small vanity. It appears functional and moderately updated, with a damaged door bottom.

Listing photo 7
6 of 8Check

Sloped, textured ceilings and an attic-style room suggest finished upper-level space. Verify it is legal living area with egress.

Listing photo 10
7 of 8Plus

Basement has coin-operated washer and dryer on a block-wall room. This suggests shared laundry, and it's worth checking whether it earns income.

Listing photo 10
8 of 8Check

No photos of the boiler or furnace, electrical panels, roof, or the other two units. Systems and the condition of the other units are unknown.

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

Down payment %
Offer $
Management
Interest rate %
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
$165,000
Cash to close
$37,950
Price per unit
$55,000
GRM
4.0

Each month

Cash flow
$1,047/mo
Cash-on-cash
33.1%
Cap rate
14.0%
DSCR
2.19×

Break-even

Price that breaks even
$361,772
Rent that breaks even
$2,057/mo

Long run

Year 30: property vs stocks
$2.31M vs $289K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$3,400
Vacancy (6%)−$204
Collected$3,196
Property tax Listing−$149
Insurance Estimate−$262
Water, sewer, trash Estimate−$255
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$272
Capital reserve (8% of rent)−$272
Net operating income$1,926
Mortgage (principal + interest)−$878
Cash flow$1,047
Principal paid down (equity, not cash)$112

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

If you buy this building$2,309,212
Your equity when you sell
$376,468

Sells for $400,498 (value up 3% a year), minus 6% selling cost ($24,030). Rent paid down $132,000 of loan.

Rental profits, invested at 7%
$1,932,744

$747,842 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$288,885
Cash to close, invested at 7%
$288,885

$37,950 put into an index fund instead of the down payment and closing costs.

The building comes out $2,020,327 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

This propertyStocks at 7%

Year 30 (loan paid off): property $2.31M, stocks $289K. 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 $1,200/mo · range $1,050–$1,350

AddressRentBd / BaSq ftDistanceListedMatch
1114 E 22nd St, Hibbing 55746 off market $900 2 / 1 — 0.9 mi 2026-06-02 93%
100 Southview Dr, Hibbing 55746 $990 2 / 1 792 0.5 mi 2026-10-05 86%
3505 9th Ave W, Hibbing 55746 $748 2 / 1 627 2.5 mi 2024-11-16 81%
1626 5th Ave E, Hibbing 55746 $1,100 2 / 1 — 0.8 mi 2026-10-05 79%
2918 4th Ave W, Unit Main, Hibbing 55746 off market $1,300 3 / 2 — 1.8 mi 2026-06-17 77%
602 5th St NW, Unit 1, Chisholm 55719 off market $1,100 2 / 1 — 4.2 mi 2025-12-02 73%
2023 7th Ave E, Hibbing 55746 off market $940 1 / 1 546 0.9 mi 2025-10-01 72%
2316 2nd Ave W, Apt 4, Hibbing 55746 off market $900 1 / 1 500 1.4 mi 2024-12-29 71%
600 E 40th St, Hibbing 55746 $995 1 / 1 599 2.5 mi 2025-04-16 71%
1129 16th Ave E, Hibbing 55746 off market $1,100 3 / 1 — 0.1 mi 2025-11-22 70%

1 bed / 1 bath estimate $1,100/mo · range $900–$1,300

AddressRentBd / BaSq ftDistanceListedMatch
1114 E 22nd St, Hibbing 55746 off market $900 2 / 1 — 0.9 mi 2026-06-02 83%
2023 7th Ave E, Hibbing 55746 off market $940 1 / 1 546 0.9 mi 2025-10-01 82%
2316 2nd Ave W, Apt 4, Hibbing 55746 off market $900 1 / 1 500 1.4 mi 2024-12-29 81%
600 E 40th St, Hibbing 55746 $995 1 / 1 599 2.5 mi 2025-04-16 80%
100 Southview Dr, Hibbing 55746 $990 2 / 1 792 0.5 mi 2026-10-05 76%
3505 9th Ave W, Hibbing 55746 $748 2 / 1 627 2.5 mi 2024-11-16 71%
1626 5th Ave E, Hibbing 55746 $1,100 2 / 1 — 0.8 mi 2026-10-05 69%
2113 5th Ave E, Hibbing 55746 $430 0 / 1 — 1.1 mi 2026-10-05 69%
409 N 1st St, Unit 4, Keewatin 55753 $850 1 / 1 — 7.6 mi 2025-10-20 68%
2918 4th Ave W, Unit Main, Hibbing 55746 off market $1,300 3 / 2 — 1.8 mi 2026-06-17 67%

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

  • highNo rents, lease terms or expenses given. 'Rented' could mean month-to-month or below-market rents. Listing says: All three units are rented · 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 1105 16TH AVE E
  • mediumUnit count and taxes can't be verified against county records. Confirm three legal units and the rental license. Based on: data: rule_flags · AI review
  • mediumInterior looks dated and heavily worn, with textured ceilings, old carpet and original-style kitchen cabinets. Expect turnover costs. Based on: photo 5 · AI review
  • lowThe 52 days on market suggests buyers are balking or pricing is off. Ask why. Based on: data: listing.days_on_market · AI review

Opportunities

  • Our estimate puts rents near $1,200 per unit. Verify against actual rents; if current rents are lower, there may be upside. Based on: data: rent_estimate · AI review
  • Bus line, parks and bike trails nearby help tenant demand. Listing says: Located right on the bus line for easy and inexpensive commute to work · AI review
  • On-site coin laundry could add income if it's owned and working. Based on: photo 10 · AI review

Questions for the agent

  • Can I get the rent roll with current rents, lease dates and whether any are month-to-month?
  • Which utilities does the owner pay, and what were the last 12 months of expenses?
  • What are the exact unit layouts, and is it licensed as a triplex in Hibbing?
  • Is the coin laundry owned by the seller or leased from a vendor, and what does it earn?
  • What are the ages of the roof, heating system(s) and electrical panels?
  • Why has it sat 52 days, and has the price changed?

Bottom line

The numbers look strong on paper, but the listing gives no rents or expenses, so treat the cash flow as unproven until you see the rent roll. 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.$1,788
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$3,150
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$255
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 rate8% / 8%

Price history Realtor.com

On the market since 2026-08-14 (52 days); last sold for $150,000 on 2023-06-02.

DateEventPrice
Listed$165,000
Sold$150,000
Removed—
Listed$145,000

From the listing Listing

Listed astriplex
Property tax, 2026$1,788
CountySt. Louis
Parcel number140005002020

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 Hibbing on rental licensing before you buy.