1334 Oak Beach Dr

Duplex · 2 units: 3 bed / 2.5 bath ×2 unit split estimated · 3,862 sq ft

Far off

47 photos

Photos, via Realtor.com.

Asking price: $399,000
Monthly cash flow: −$932
Estimated rent: $2,800/mo
Break-even price: $223,810

Adjust the numbers See the full breakdown

From the listing

Duplex Living on Budd Lake - A Rare Opportunity! Nestled along the shores of Fairmont's picturesque Budd Lake, this left and right duplex offers a unique blend of comfortable living, income potential, and serene lakefront views. Whether you're looking for a multi-generational living setup, a smart investment, or a place to call home with the bonus of a rental, this property has it all - including a charming boathouse overlooking the water and breathtaking sunsets you'll never tire of. South Side Unit: This spacious unit welcomes you with an inviting eat-in kitchen and a combined living/dining room that opens into a den or home office, complete with a cozy gas fireplace - a perfect spot for chilly evenings. This flexible space could also serve as a main-floor bedroom. The main level also features a 1/2 bath and a peaceful screened-in porch to enjoy lakeside breezes. Upstairs, you'll find two bedrooms and a full bath. The finished basement adds even more living space with brand-new flooring, a large 3/4 bath featuring a tiled walk-in shower, a generous walk-in closet, a family room, and an office - which could easily become a bedroom with the addition of an egress window. This unit also includes a private single-car garage. North Side Unit: The north side duplex mirrors many of the same comforts with its own eat-in kitchen, a living/dining room combination, a den or office, and a functional layout that's move-in ready. The main floor includes a living room, kitchen, dining room, and a den/bedroom and full bath, while upstairs offers two bedrooms and a 3/4 bath. This unit also comes with its own single-car garage. Additional Features: Lakeside boathouse perfect for lake gear or a relaxing hideaway Backyard patio with fire pit - ideal for entertaining or peaceful evenings by the water Brand new, energy-efficient boiler system Low-maintenance exterior Quiet lakefront location just minutes from downtown Fairmont, parks, and trails Stunning lake views with some of the best sunsets in town Whether you're watching the sunset from the screened porch or roasting marshmallows by the fire pit, this Budd Lake duplex offers the perfect blend of comfort and lakeside charm. Live in one, rent the other - or make the most of both! Some of these pictures in this listing is virtually staged.

Description from Realtor.com, MLS #6755532. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a lakefront left-right duplex in Fairmont, and the price is driven by the water, not by rent. Our rent estimate is about $1,400 per side, or roughly $2,800 a month, and at $399K that gives a 3.6% cap rate and about -$932 a month at 20% down. Break-even is near $224K, so the ask is far too high for an investment buyer. It has sat 435 days, so the seller may be flexible, but the numbers only work if you plan to live in one side or get a deep cut. Check the boiler and its install, the rental license, and what each side really rents for before you spend time on a showing.

Things to consider

Rents don't support the price At the default scenario the property loses about $932 a month and the cap rate is 3.6%. Break-even is roughly $175K below ask, so an investor needs a very different price.
Long time on market gives leverage At 435 days the seller has had plenty of time to test the market. A low offer backed by the numbers is reasonable.
Income is unverified The listing gives no current rents or lease status. Our $1,400-per-side estimate is only a guess until you see leases.Listing says: “Live in one, rent the other - or make the most of both!”
Bedroom count may be overstated The den and basement office are not legal bedrooms without egress. Rents depend on true bedroom counts.Listing says: “which could easily become a bedroom with the addition of an egress window”
Dated finishes and staged photos Kitchens and baths look older, and some photos are virtually staged. Budget for updates before you can push rents.From photo 7
Lakefront carries extra risk and cost Slope, retaining walls, dock and boathouse add upkeep and can raise insurance. Get a shoreline and flood zone check.From photo 1

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

doneNew energy-efficient boiler systemListing says: Brand new, energy-efficient boiler system
doneNew basement flooring in south unitListing says: The finished basement adds even more living space with brand-new flooring
neededEgress window needed to make basement office a legal bedroomListing says: which could easily become a bedroom with the addition of an egress window

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: $399,000
Cash to close: $91,770
Price per unit: $199,500
GRM: 11.9

Each month

Cash flow: −$932/mo
Cash-on-cash: −12.2%
Cap rate: 3.6%
DSCR: 0.56×

Break-even

Price that breaks even: $223,810
Rent that breaks even: $3,995/mo

Long run

Year 30: property vs stocks: $926K vs $1.36M
Cash flow turns positive: year 25

Monthly

Monthly breakdown

Rent	$2,800
Vacancy (6%)	−$168
Collected	$2,632
Property tax Listing	−$532
Insurance Estimate	−$230
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$224
Capital reserve (8% of rent)	−$224
Net operating income	$1,191
Mortgage (principal + interest)	−$2,124
Cash flow	−$932
Principal paid down (equity, not cash)	$270

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$925,543

Your equity when you sell: $910,369
Rental profits, invested at 7%: $15,174

Same money in stocks$1,359,469

Cash to close, invested at 7%: $698,577
Monthly shortfalls, invested: $660,892

Stocks come out $433,926 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 $926K, stocks $1.36M. Stocks win.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.

3 bed / 2.5 bath estimate $1,400/mo · range $1,300–$1,525

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
1205 Victoria St, Apt 320, Fairmont 56031 off market	$1,025	3 / 1	975	1.1 mi	2025-05-15	73%
900 Hengen St, Apt 202, Fairmont 56031 off market	$1,000	3 / 1	850	1.2 mi	2026-04-17	73%
910 Hengen St, Apt 402, Fairmont 56031 off market	$1,000	3 / 1	850	1.2 mi	2026-04-17	72%
910 Hengen St, Apt 302, Fairmont 56031 off market	$1,000	3 / 1	850	1.2 mi	2026-04-17	72%
603 Albion Ave, Apt 1, Fairmont 56031 off market	$1,300	3 / 1	—	0.7 mi	2026-03-30	72%
813 S Prairie Ave, Fairmont 56031 off market	$1,050	3 / 1	—	0.7 mi	2022-07-25	72%
717 Willow St, Fairmont 56031 off market	$1,025	3 / 1	—	0.9 mi	2024-01-29	71%
907 Albion Ave, Fairmont 56031 off market	$1,225	3 / 1.5	1,330	0.5 mi	2024-02-20	65%
619 Burton Ln, Fairmont 56031 off market	$1,200	3 / 2	1,100	1.2 mi	2022-02-07	64%
401 N Dewey St, Fairmont 56031 off market	$950	2 / 1	1,100	1.4 mi	2026-08-13	64%

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

highPriced for lakefront, not for rent. Rents can't carry the ask. Based on: data: underwriting.cash_flow_monthly · AI review
mediumAsking is $175,190 above the price where cash flow breaks even ($223,810) at the default scenario. Based on: Derived: price $399,000 vs. break-even $223,810
mediumSome listing photos are virtually staged, so the true condition of those rooms is unclear. Listing says: Some of these pictures in this listing is virtually staged. · AI review
mediumOne brand-new boiler is mentioned, but it's unclear whether it serves both units or whether heat is shared and who pays. Listing says: Brand new, energy-efficient boiler system · AI review
mediumLakefront with a steep slope and retaining walls down to the water. Check erosion, shoreline and flood insurance costs. Based on: photo 1 · AI review
mediumDescription doesn't say the units are rented, give rents, or state lease terms. Listing says: Live in one, rent the other - or make the most of both! · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 435 days on market
435 days on market suggests the seller may accept a large cut. Based on: data: listing.days_on_market · AI review
House-hack option: live in one side, rent the other, to offset lake-view living costs. Listing says: Live in one, rent the other - or make the most of both! · AI review
Each unit has its own garage, which helps with tenant appeal. Listing says: This unit also comes with its own single-car garage. · AI review
No rent cap in Fairmont, so rents can rise freely if the market allows. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Are both units rented now? Get the rent roll, lease terms and 12 months of expenses.
Does the new boiler serve both units, and who pays heat, water and electric?
Which photos are virtually staged, and can I see real photos of those rooms?
Is the property rental licensed, and do the basement office and den count as legal bedrooms?
What are the seller's reasons for 435 days on market, and have there been price cuts or offers?
What are the annual taxes, and does the shoreline or boathouse need work or flood insurance?

Bottom line

Nice lake setting, but at $399K the rents lose about $930 a month, so it only works as a house-hack at a much lower price. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2024. 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.	$6,388
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,766
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 2025-07-29 (434 days); down $130,900 (24.7%) from the first ask of $529,900; last sold for $465,000 on 2022-10-13.

Date	Event	Price
2026-05-08	Price changed	$399,000
2026-02-02	Relisted	$420,000
2026-01-30	Removed	—
2025-12-16	Price changed	$468,500
2025-10-29	Price changed	$479,975
2025-08-23	Price changed	$500,000
2025-07-29	Listed	$529,900
2022-10-13	Sold	$465,000
2022-08-13	Listed	$469,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2024	$6,388
County	Martin
Parcel number	231880370

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 Fairmont on rental licensing before you buy.