Cash flows17 days on marketPending
1229-1231 Jefferson St, Alexandria
Fourplex · 4 units: 3 bed / 1 bath ×3 and 2 bed / 1 bath unit split estimated · 3,800 sq ft · View the listing ↗
Photos courtesy of Central Mn Realty Llc - Broker, via Realtor.com.
+$298 monthly cash flow
After every cost, including reserves for vacancy and repairs, this fourplex puts about $298 a month in your pocket. That’s a 2.7% yearly return on the $131,100 you’d put in.
At $570,000, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 2.7% Yearly cash flow ÷ cash in
- Cap rate
- 7.0% Return if you paid all cash
- Cash to close
- $131,100 Down payment + closing costs
- Break-even price
- $626,078 Most you can pay and still cash flow
The listing, and how its numbers compare
MLS #7160511What the seller says
INVESTMENT OPPORTUNITY! Looking to expand your real estate portfolio? This fully occupied 4-plex offers an excellent opportunity to invest in a multi-family property! Featuring three 3-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, this property boasts a 100% occupancy rate and the convenience of in-unit laundry in every apartment. Additional highlights include two 2-stall garages, along with a New roof on both the building and garages! Both lower-level apartments (Units 1 and 4) have undergone kitchen renovations. A centralized utility room houses the boiler, water heaters, and water softener. The property also recently passed its city rental inspection in August, meeting the new HUD NSPIRE inspection criteria model requirements, with approval good for the next four years. With full occupancy, recent improvements, and desirable amenities, this property is a great addition to any investment portfolio! See supplements for apartment layouts.
Listing courtesy of Central Mn Realty Llc - Broker (Fatima Holm).
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Gross income | $68,000 | — |
| Property tax | $5,872 (2026) | — |
| Insurance | $2,442 | — |
| Water and sewer | $2,177 | — |
| Trash | $703 | — |
| Heat (fuel) | $1,875 | — |
| Electric | $423 | — |
| Maintenance / repairs | $500 | — |
| Other / reserves, lawn, mgmt | $500 | — |
| Operating expenses | $15,695 | — |
| Net operating income | $51,304 | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Four Plex
- Year built
- 1966
- Living area
- 3,800 sq ft
- Exterior
- Wood · Frame
- Roof
- Age 8 Years or Less
- Basement
- Finished (Livable), Full
- Laundry
- In Unit
Systems and utilities
- Heating
- Boiler · Natural Gas
- Electric
- Circuit Breakers
- Water / sewer
- City Water · City Sewer
- Owner pays
- Heat, Insurance, Lawn, Maintenance/Repair, Sewer, …
Parking and lot
- Garage
- 4 spaces
- Parking
- Detached Garage
- Lot
- 0.90 acres · 299x152x299x152
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $5,975 |
| Vacancy | −$358 |
| Property tax | −$489 |
| Insurance | −$379 |
| Water, sewer, trash | −$340 |
| Repairs and capital reserve | −$1,016 |
| Net operating income | $3,332 |
| Mortgage (principal + interest) | −$3,034 |
| Cash flow | $298 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $1.93M aheadYear 30 (loan paid off): this building $2,928,142, the same money in stocks $997,967.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year, costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
3 bed: $1,650/mo · range $1,300–$1,800 · 10 rentals within 1.5 mi · medium confidence
Median asking rent of nearby rentals with the same bedroom count (within 1.5 miles): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. Adjustments: $25/unit (garage mentioned in the description); $50/unit (in-unit laundry). Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 1717 Nokomis St Apt C, Alexandria | $950 | 3 / 1 | 0.5 mi |
| 1721 Nokomis St Apt 2, Alexandria | $950 | 3 / 1 | 0.5 mi |
| 623 Oak St Apt 1, Alexandria | $1,559asked $1,550 | 3 / 2 | 0.6 mi |
| 411 Elm St Apt 3, Alexandria | $1,500 | 3 / 2 | 0.8 mi |
| 1805 7th Ave E, Alexandria | $1,595 | 3 / 1 | 1.2 mi |
| 122 City Park Rd, Alexandria | $1,300 | 3 / 1 | 1.4 mi |
| 3707 S Broadway St Apt 301, Alexandria | $1,785 | 3 / 2 | 1.4 mi |
| 3707 S Broadway St Unit 403, Alexandria | $1,710asked $1,685 | 3 / 2 | 1.4 mi |
| 3703 S Broadway St Apt 401, Alexandria | $1,865 | 3 / 2 | 1.4 mi |
| 3709 S Broadway St Unit 401, Alexandria | $1,701asked $1,685 | 3 / 2 | 1.5 mi |
Asking rents from Realtor.com listings, not signed leases.
2 bed: $1,025/mo · range $1,025–$1,075 · 11 rentals within 1 mi · medium confidence
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 1420 Jefferson St Apt 37, Alexandria | $1,010asked $995 | 2 / 1 | 0.1 mi |
| 1420 Jefferson St Apt 1, Alexandria | $952asked $950 | 2 / 1 | 0.1 mi |
| 1420 Jefferson St Apt 34, Alexandria | $961asked $950 | 2 / 1 | 0.1 mi |
| 1420 Jefferson St Apt 35, Alexandria | $959asked $950 | 2 / 1 | 0.1 mi |
| 1717 Nokomis St Apt D, Alexandria | $957asked $950 | 2 / 1 | 0.5 mi |
| 1721 Nokomis St Apt 1, Alexandria | $958asked $950 | 2 / 1 | 0.5 mi |
| 1723 Nokomis St Apt 3, Alexandria | $1,108asked $1,100 | 2 / 1 | 0.5 mi |
| 303 6th Ave W Apt 4, Alexandria | $961asked $950 | 2 / 1 | 0.7 mi |
| 303 6th Ave W Apt 2, Alexandria | $957asked $950 | 2 / 1 | 0.7 mi |
| 303 6th Ave W Apt 5, Alexandria | $964asked $950 | 2 / 1 | 0.7 mi |
Asking rents from Realtor.com listings, not signed leases.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
No red flags in the available data. That isn't the same as none.
Opportunities
None found.
Questions for the agent
- Can we see the current leases and a rent roll, with move-in dates?
- What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
- How old are the roof, boiler or furnaces, water heaters and electrical panels?
- Is the building licensed as a rental for this many units, and when was the last city inspection?
- Any special assessments pending, and will the seller pay them off at closing?
Standard questions worth asking about any building.
What the records say
Price history · Realtor.com
On the market since 2026-10-16 (17 days); last sold for $60,000 on 2006-03-29.
| Date | Event | Price |
|---|---|---|
| Listed | $570,000 | |
| Removed | $350,000 | |
| Removed | $57,500 | |
| Removed | $57,500 | |
| Sold | $60,000 | |
| Listed | $57,500 | |
| Removed | $57,500 | |
| Listed | $57,500 | |
| Listed | $57,500 | |
| Sold | $57,500 | |
| Listed | $59,500 |
From the listing
| Listed as | Four plex |
| Property tax, 2026 | $5,872 |
| County | Douglas |
| Parcel number | 631591100 |
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 Alexandria on rental licensing before you buy.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.