1398 25th St NW

Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 2,716 sq ft

Far off

17 photos

Photos courtesy of Keller Williams Classic Realty, via Realtor.com.

Asking price: $484,900
Monthly cash flow: −$1,140
Estimated rent: $3,325/mo
Break-even price: $270,648

Adjust the numbers See the full breakdown

From the listing

Rare investment opportunity in a highly desirable New Brighton location adjacent to Irondale High School and convenient to Long Lake Road, parks, and major roadways. This well-established property features a 3-bedroom, 2-bath on the main/lower level and 2-bedroom, 1-bath on the upper level. The main and upper levels have similar bedroom sizes with the main-level unit offering slightly more living space and the upper unit featuring a large private sundeck. The lower level walks out to the back yard. This lower level offers an excellent opportunity for an extended number of residents from a main or upper level lease. Long-term tenants add to the appeal for investors looking for an established rental property. Owner occupants can purchase this property with as little as 3-5% down and maybe reside in the basement with approval from authorities. Leases are month to month with 60-day notices. Situated on a corner lot, the fenced backyard backs to a wooded area, providing added privacy and outdoor space. A detached 2-car garage provides additional parking and storage. New washer and dryer in common area. Smoke detectors and carbon monoxide detectors have all been updated per code. City inspection recently completed. Whether you're looking for an income-producing duplex or owner-occupied investment, this property offers plenty of possibilities in a great location!

Listing courtesy of Keller Williams Classic Realty (The Bandimere Team). Description from Realtor.com, MLS #7129166. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1965 up/down duplex in New Brighton, asking $484,900, and it doesn't work at today's rates. Our underwriting shows about -$1,160 a month and a 3.5% cap rate, and break-even is roughly $267K, so the ask is far above what these rents support. The description gives no rents, no taxes and no expenses, and the county parcel didn't match, so start with the rent roll, the tax bill and the rental license. The photos show dated finishes and what looks like a third, lower-level kitchen, so confirm how many units are legal. I'd only visit if the seller is open to a price near the numbers.

Things to consider

Price is far above what the rents support At the ask the property loses about $1,160 a month. Break-even is near $267K, so it only works with a large price cut or a lot of equity.
Month-to-month tenants Rents may be below market and tenants can leave on 60 days' notice. Verify rents and expect turnover.Listing says: “Leases are month to month with 60-day notices.”
Lower level may be a third unit or an unlicensed one Extra income could be illegal or hard to insure. Confirm the licensed unit count with the city.Listing says: “This lower level offers an excellent opportunity for an extended number of residents”
Dated interiors and unseen systems Kitchens and baths look original, so budget for updates before pushing rents. Get ages for heat, roof and wiring.From photo 3
Owner-occupant angle Low-down financing with the buyer living in one unit improves the math versus a pure investment, but still check the taxes and insurance.Listing says: “Owner occupants can purchase this property with as little as 3-5% down”

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

doneSmoke and carbon monoxide detectors updated per codeListing says: Smoke detectors and carbon monoxide detectors have all been updated per code.
doneNew washer and dryer in common areaListing says: New washer and dryer in common area.
doneCity inspection recently completedListing says: City inspection recently completed.

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: $484,900
Cash to close: $111,527
Price per unit: $242,450
GRM: 12.2

Each month

Cash flow: −$1,140/mo
Cash-on-cash: −12.3%
Cap rate: 3.6%
DSCR: 0.56×

Break-even

Price that breaks even: $270,648
Rent that breaks even: $4,787/mo

Long run

Year 30: property vs stocks: $1.12M vs $1.66M
Cash flow turns positive: year 25

Monthly

Monthly breakdown

Rent	$3,325
Vacancy (6%)	−$200
Collected	$3,126
Property tax Listing	−$716
Insurance Estimate	−$207
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$266
Capital reserve (8% of rent)	−$266
Net operating income	$1,440
Mortgage (principal + interest)	−$2,581
Cash flow	−$1,140
Principal paid down (equity, not cash)	$328

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$1,124,827

Your equity when you sell: $1,106,361
Rental profits, invested at 7%: $18,466

Same money in stocks$1,658,382

Cash to close, invested at 7%: $848,972
Monthly shortfalls, invested: $809,410

Stocks come out $533,555 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 $1.12M, stocks $1.66M. Stocks win.

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.

3 bed / 1.5 bath estimate $1,850/mo · range $1,525–$2,175

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
1652 69th Ave NE, Fridley 55432	$1,800	3 / 1.5	1,200	1.1 mi	2024-04-12	85%
2109 Hillview Rd, Apt 2, Mounds View 55112	$1,899	3 / 2	1,400	1.5 mi	2025-12-02	84%
7680 Silver Lake Rd, Mounds View 55112 off market	$2,050	3 / 2	1,331	1.3 mi	2026-05-13	84%
7660 Edgewood Dr, Mounds View 55112 off market	$1,450	3 / 1	1,020	1.1 mi	2026-06-19	81%
1619 73rd Ave NE, Fridley 55432	$1,395	2 / 1	2,100	1.3 mi	2026-10-05	81%
6315 Pierce St NE, Unit 2, Minneapolis 55432 off market	$1,900	3 / 1	1,000	1.8 mi	2024-04-19	80%
1121 1129 79th Ave NE, Spring Lake Park 55432	$1,375	3 / 1	1,050	2.2 mi	2026-04-03	80%
1121 79th Ave NE, Spring Lake Park 55432 off market	$1,455	3 / 1	1,050	2.2 mi	2025-11-06	80%
1374 Skywood Ln NE, Unit East, Fridley 55421 off market	$2,200	3 / 2	2,730	2.5 mi	2026-04-24	79%
1380 7th St NW, New Brighton 55112	$1,100	2 / 1	—	2.1 mi	2026-06-12	79%

2 bed / 1.5 bath estimate $1,475/mo · range $1,325–$1,575

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
1619 73rd Ave NE, Fridley 55432	$1,395	2 / 1	2,100	1.3 mi	2026-10-05	90%
1380 7th St NW, New Brighton 55112	$1,100	2 / 1	—	2.1 mi	2026-06-12	88%
476 75th Ave NE, Fridley 55432 off market	$1,150	2 / 1	—	2.8 mi	2026-03-03	87%
415 74th Ave NE, Fridley 55432	$1,390	2 / 1	—	2.8 mi	2026-07-22	87%
2370 County Rd E, W, New Brighton 55112 off market	$1,095	2 / 1	—	2.9 mi	2026-08-22	87%
6111 Star Ln NE, Fridley 55432	$1,390	2 / 1	—	3.0 mi	2025-12-06	87%
1461 73rd Ave NE, Fridley 55432	$1,500	2 / 2	1,250	1.5 mi	2025-06-12	82%
1619 73rd Ave NE, Apt 206, Fridley 55432	$1,295	2 / 1	1,030	1.3 mi	2026-10-04	81%
1619 73rd Ave NE, Apt 204, Fridley 55432 off market	$1,295	2 / 1	1,030	1.3 mi	2024-01-16	81%
2657 Rice Creek Rd, New Brighton 55112 off market	$1,325	2 / 1	967	1.0 mi	2025-04-30	81%

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 1398 25TH ST NW
mediumAsking is $214,252 above the price where cash flow breaks even ($270,648) at the default scenario. Based on: Derived: price $484,900 vs. break-even $270,648
mediumLower level pitched as extra living space, but its legal status is unclear. It could be an unpermitted unit or a rental-license problem. Listing says: maybe reside in the basement with approval from authorities · AI review
mediumNo rents, taxes or expenses given, and the county parcel didn't match, so income and costs are unverified. Based on: data: county.tax · AI review
mediumListed 45 days with no stated rents. The ask is far above the break-even price. Based on: data: underwriting.break_even_price · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "the basement with approval from authorities. Leases are month to month with 60-day notices. Situated on a corner lot"

Opportunities

Rents are not capped, so they can rise to market after turnover. Our mid estimates are $1,800 for the 3-bed and $1,425 for the 2-bed. Based on: data: rent_estimate · AI review
Owner-occupant buyers can put down 3-5%, which widens the buyer pool and helps if you live in one unit. Listing says: Owner occupants can purchase this property with as little as 3-5% down · AI review
Corner lot with a fenced yard and a detached 2-car garage gives off-street parking and storage. Listing says: A detached 2-car garage provides additional parking and storage. · AI review

Questions for the agent

What are the current rents and lease start dates for each unit, and can I see the rent roll?
What are the real property taxes, and is there any special assessment?
Is the lower level a licensed unit or just living space? What did the recent city inspection say?
How are heat, water and electric metered, and who pays each?
How old are the boilers or baseboard systems, the roof and the electrical panels?
Why has it sat 45 days, and has the seller considered a price cut?

Bottom line

A decent-looking duplex in a good location, but at $485K it loses about $1,160 a month and only works near $267K. 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.	$8,597
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,479
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 2026-08-21 (45 days); down $15,100 (3.0%) from the first ask of $500,000; last sold for $327,000 on 2003-08-08.

Date	Event	Price
2026-10-02	Price changed	$484,900
2026-08-21	Listed	$500,000
2003-08-08	Sold public record	$327,000
1995-08-28	Sold public record	$155,500

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$8,597
County	Ramsey
Parcel number	173023220007

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 New Brighton on rental licensing before you buy.