1406 24th Ave S
Triplex · 3 units: 2 bed / 1.5 bath ×2 and 1 bed / 1.5 bath unit split estimated · 2,621 sq ft
Moorhead, MN · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $255,000 3 units · $85K per unit
- Monthly cash flow
- −$302 at 20% down, 7%
- Estimated rent
- $2,575/mo medium confidence
- Break-even price
- $198,261 where cash flow hits $0
First look
This is a split-level triplex with a 3-bed/2-bath main unit and two 1-bed/1-bath units, priced at $255K. Our underwriting at asking shows about -$302/month cash flow and a 5.0% cap rate, with a break-even price near $198K. Stated rents are thin: only $1,395 and $725 are in place, and the $1,395 tenant is leaving 9/30/2026, so effectively you're buying a vacancy plus a long-term tenant at $725. The listing came back after a failed financing deal, so ask what the buyer's lender or appraiser objected to. Check the electrical meters, panels and the legality of the lower units before a showing. It is only worth a look if you'd house hack it or can get closer to $198K.
Things to consider
- Price is above what the rents support At asking, our numbers show negative cash flow and a 5.0% cap rate. You would need a lower price or higher rents to break even.
- Income is uncertain right after closing The $1,395 tenant is leaving, Unit 2 is vacant, and the $725 tenant is month-to-month. Budget for vacancy and make-ready costs.Listing says: “Unit 1: Leased for $1,395 (notice to vacate on 9/30/2026)”
- Main unit condition is unknown The largest unit generates the most rent, and you can't see it. Get a full inspection before relying on its rent.Listing says: “Unit 1 pictures available upon request.”
- Lower units are dated and below grade Paneling, small windows and old appliances limit the rent you can charge. Legal egress and licensing matter.From photo 2
- Taxes and unit count are unverified We couldn't match a county parcel, so taxes could differ from our assumptions, which changes cash flow.
- New roof is a real plus A roof is a major expense, and a new one lowers near-term capital needs.Listing says: “Brand new roof just installed.”
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
- Unit 1: $1,395 (lease)Listing says: Unit 1: Leased for $1,395 (notice to vacate on 9/30/2026)
- Unit 3: $725 (month-to-month)Listing says: Unit 3: Leased for $725 month to month. Been there since 2018
Condition and repairs
- doneNew roofListing says: Brand new roof just installed.
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
- $255,000
- Cash to close
- $33,150
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$615/mo
- Cash-on-cash
- −22.3%
- Cap rate
- 5.0%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $161,098
- Rent that breaks even
- $3,364/mo
Long run
- Year 30: property vs stocks
- $656K vs $548K
- Cash flow turns positive
- year 16
The deal
- Price
- $255,000
- Cash to close
- $33,150
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$833/mo
- Cash-on-cash
- −30.2%
- Cap rate
- 3.9%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $127,841
- Rent that breaks even
- $3,773/mo
Long run
- Year 30: property vs stocks
- $585K vs $815K
- Cash flow turns positive
- year 27
The deal
- Price
- $245,000
- Cash to close
- $31,850
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$550/mo
- Cash-on-cash
- −20.7%
- Cap rate
- 5.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $161,098
- Rent that breaks even
- $3,280/mo
Long run
- Year 30: property vs stocks
- $652K vs $487K
- Cash flow turns positive
- year 15
The deal
- Price
- $245,000
- Cash to close
- $31,850
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$767/mo
- Cash-on-cash
- −28.9%
- Cap rate
- 4.1%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $127,841
- Rent that breaks even
- $3,679/mo
Long run
- Year 30: property vs stocks
- $565K vs $740K
- Cash flow turns positive
- year 26
The deal
- Price
- $255,000
- Cash to close
- $58,650
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$302/mo
- Cash-on-cash
- −6.2%
- Cap rate
- 5.0%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $198,261
- Rent that breaks even
- $2,962/mo
Long run
- Year 30: property vs stocks
- $719K vs $568K
- Cash flow turns positive
- year 12
The deal
- Price
- $255,000
- Cash to close
- $58,650
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$520/mo
- Cash-on-cash
- −10.6%
- Cap rate
- 3.9%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $157,331
- Rent that breaks even
- $3,323/mo
Long run
- Year 30: property vs stocks
- $600K vs $788K
- Cash flow turns positive
- year 22
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$249/mo
- Cash-on-cash
- −5.3%
- Cap rate
- 5.2%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $198,261
- Rent that breaks even
- $2,894/mo
Long run
- Year 30: property vs stocks
- $723K vs $517K
- Cash flow turns positive
- year 10
The deal
- Price
- $245,000
- Cash to close
- $56,350
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$467/mo
- Cash-on-cash
- −9.9%
- Cap rate
- 4.1%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $157,331
- Rent that breaks even
- $3,246/mo
Long run
- Year 30: property vs stocks
- $586K vs $719K
- Cash flow turns positive
- year 20
The deal
- Price
- $255,000
- Cash to close
- $71,400
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$217/mo
- Cash-on-cash
- −3.6%
- Cap rate
- 5.0%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $211,479
- Rent that breaks even
- $2,853/mo
Long run
- Year 30: property vs stocks
- $763K vs $614K
- Cash flow turns positive
- year 9
The deal
- Price
- $255,000
- Cash to close
- $71,400
- Price per unit
- $85,000
- GRM
- 8.3
Each month
- Cash flow
- −$435/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 3.9%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $167,820
- Rent that breaks even
- $3,201/mo
Long run
- Year 30: property vs stocks
- $615K vs $804K
- Cash flow turns positive
- year 19
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$167/mo
- Cash-on-cash
- −2.9%
- Cap rate
- 5.2%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $211,479
- Rent that breaks even
- $2,789/mo
Long run
- Year 30: property vs stocks
- $772K vs $567K
- Cash flow turns positive
- year 7
The deal
- Price
- $245,000
- Cash to close
- $68,600
- Price per unit
- $81,667
- GRM
- 7.9
Each month
- Cash flow
- −$385/mo
- Cash-on-cash
- −6.7%
- Cap rate
- 4.1%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $167,820
- Rent that breaks even
- $3,129/mo
Long run
- Year 30: property vs stocks
- $603K vs $737K
- Cash flow turns positive
- year 18
Monthly
Monthly breakdown
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,527 |
| PMI | −$143 |
| Cash flow | −$615 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,527 |
| PMI | −$143 |
| Cash flow | −$833 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$550 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,467 |
| PMI | −$138 |
| Cash flow | −$767 |
| Principal paid down (equity, not cash) | $187 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,357 |
| Cash flow | −$302 |
| Principal paid down (equity, not cash) | $173 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,357 |
| Cash flow | −$520 |
| Principal paid down (equity, not cash) | $173 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$249 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,304 |
| Cash flow | −$467 |
| Principal paid down (equity, not cash) | $166 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | −$217 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | −$435 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Net operating income | $1,055 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | −$167 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$359 |
| Insurance Estimate | −$280 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (8% of rent) | −$206 |
| Property management | −$218 |
| Net operating income | $837 |
| Mortgage (principal + interest) | −$1,222 |
| Cash flow | −$385 |
| Principal paid down (equity, not cash) | $156 |
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
- $581,815
- Rental profits, invested at 7%
- $73,693
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $229,500 of loan.
$53,759 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $252,346
- Monthly shortfalls, invested
- $295,204
$33,150 put into an index fund instead of the down payment and closing costs.
$54,179 you'd have paid in while the building lost money, invested instead.
The building comes out $107,957 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $2,782
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $229,500 of loan.
$2,648 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $252,346
- Monthly shortfalls, invested
- $563,151
$33,150 put into an index fund instead of the down payment and closing costs.
$127,437 you'd have paid in while the building lost money, invested instead.
Stocks come out $230,901 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $92,675
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$64,872 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $244,574
$31,850 put into an index fund instead of the down payment and closing costs.
$43,467 you'd have paid in while the building lost money, invested instead.
The building comes out $164,650 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $6,435
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $220,500 of loan.
$5,875 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $242,450
- Monthly shortfalls, invested
- $497,191
$31,850 put into an index fund instead of the down payment and closing costs.
$108,838 you'd have paid in while the building lost money, invested instead.
Stocks come out $174,208 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $136,775
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $204,000 of loan.
$88,334 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $446,459
- Monthly shortfalls, invested
- $121,600
$58,650 put into an index fund instead of the down payment and closing costs.
$20,794 you'd have paid in while the building lost money, invested instead.
The building comes out $150,531 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $18,156
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $204,000 of loan.
$15,253 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $446,459
- Monthly shortfalls, invested
- $341,838
$58,650 put into an index fund instead of the down payment and closing costs.
$72,082 you'd have paid in while the building lost money, invested instead.
Stocks come out $188,326 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $163,653
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$101,285 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $88,147
$56,350 put into an index fund instead of the down payment and closing costs.
$14,584 you'd have paid in while the building lost money, invested instead.
The building comes out $205,555 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $26,619
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $196,000 of loan.
$21,441 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $428,951
- Monthly shortfalls, invested
- $289,970
$56,350 put into an index fund instead of the down payment and closing costs.
$59,109 you'd have paid in while the building lost money, invested instead.
Stocks come out $133,303 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $181,494
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $191,250 of loan.
$109,448 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $543,515
- Monthly shortfalls, invested
- $70,166
$71,400 put into an index fund instead of the down payment and closing costs.
$11,371 you'd have paid in while the building lost money, invested instead.
The building comes out $149,628 ahead after 30 years.
- Your equity when you sell
- $581,815
- Rental profits, invested at 7%
- $32,740
Sells for $618,952 (value up 3% a year), minus 6% selling cost ($37,137). Rent paid down $191,250 of loan.
$25,677 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $543,515
- Monthly shortfalls, invested
- $260,270
$71,400 put into an index fund instead of the down payment and closing costs.
$51,968 you'd have paid in while the building lost money, invested instead.
Stocks come out $189,230 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $212,916
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$123,087 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
- Monthly shortfalls, invested
- $45,028
$68,600 put into an index fund instead of the down payment and closing costs.
$7,047 you'd have paid in while the building lost money, invested instead.
The building comes out $204,687 ahead after 30 years.
- Your equity when you sell
- $558,998
- Rental profits, invested at 7%
- $44,164
Sells for $594,679 (value up 3% a year), minus 6% selling cost ($35,681). Rent paid down $183,750 of loan.
$33,179 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $522,201
- Monthly shortfalls, invested
- $215,133
$68,600 put into an index fund instead of the down payment and closing costs.
$41,507 you'd have paid in while the building lost money, invested instead.
Stocks come out $134,171 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 $656K, stocks $548K. The property wins.
Year 30 (loan paid off): property $585K, stocks $815K. Stocks win.
Year 30 (loan paid off): property $652K, stocks $487K. The property wins.
Year 30 (loan paid off): property $565K, stocks $740K. Stocks win.
Year 30 (loan paid off): property $719K, stocks $568K. The property wins.
Year 30 (loan paid off): property $600K, stocks $788K. Stocks win.
Year 30 (loan paid off): property $723K, stocks $517K. The property wins.
Year 30 (loan paid off): property $586K, stocks $719K. Stocks win.
Year 30 (loan paid off): property $763K, stocks $614K. The property wins.
Year 30 (loan paid off): property $615K, stocks $804K. Stocks win.
Year 30 (loan paid off): property $772K, stocks $567K. The property wins.
Year 30 (loan paid off): property $603K, stocks $737K. 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.
2 bed / 1.5 bath estimate $900/mo · range $775–$1,000
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 816-820 24th Ave S, Moorhead 56560 | $995 | 2 / 1 | 0.5 mi | 91% |
| 804 24th Ave S, Moorhead 56560 | $995 | 2 / 1 | 0.5 mi | 91% |
| 3010 18th St S, Moorhead 56560 off market | $775 | 2 / 1 | 0.7 mi | 91% |
| 1201 Belsly Blvd, Apt 105, Moorhead 56560 off market | $1,095 | 2 / 2 | 0.7 mi | 91% |
| 1002 Belsly Blvd, Moorhead 56560 | $950 | 2 / 1 | 0.8 mi | 90% |
| 2903 5th St S, Moorhead 56560 | $800 | 2 / 1 | 0.9 mi | 90% |
| 516-518 32nd Ave S, Moorhead 56560 | $825 | 2 / 1 | 0.9 mi | 90% |
| 2903 S 5th St, Moorhead 56560 off market | $775 | 2 / 1 | 0.9 mi | 90% |
| 2923 5th St S, Moorhead 56560 | $750 | 2 / 1 | 0.9 mi | 90% |
| 912 18 1/2 St S, Apt 3, Moorhead 56560 off market | $750 | 2 / 1 | 0.9 mi | 90% |
1 bed / 1.5 bath estimate $775/mo · range $650–$900
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1201 Belsly Blvd, Apt 104, Moorhead 56560 | $995 | 1 / 1 | 0.7 mi | 91% |
| 1201 Belsly Blvd, Apt 103, Moorhead 56560 off market | $995 | 1 / 1 | 0.7 mi | 91% |
| 1022 Belsly Blvd, Moorhead 56560 | $725 | 1 / 1 | 0.8 mi | 90% |
| 1103 20th St S, Moorhead 56560 | $700 | 1 / 1 | 0.9 mi | 90% |
| 910 8th St S, Apt 5, Moorhead 56560 | $700 | 1 / 1 | 1.0 mi | 90% |
| 3740 7th St S, Moorhead 56560 | $740 | 1 / 1 | 1.2 mi | 90% |
| 429 4th St S, Moorhead 56560 | $600 | 1 / 1 | 1.5 mi | 89% |
| 320 6th St S, Apt 4, Moorhead 56560 off market | $650 | 1 / 1 | 1.5 mi | 89% |
| 301 6th St S, Apt 16, Moorhead 56560 off market | $675 | 1 / 1 | 1.5 mi | 89% |
| 301 6th St S, Apt 15, Moorhead 56560 off market | $725 | 1 / 1 | 1.5 mi | 89% |
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
- highUnit 1 tenant is leaving and its photos are withheld, so the main unit's condition is unknown Listing says: Unit 1 pictures available upon request. Tenant didn't want them on the listing. · AI review
- highUnderwriting at asking price is negative cash flow Based on: data: underwriting.cash_flow_monthly · 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 1406 24TH AVE S
- mediumThe sale already fell through once on financing, which could point to an appraisal or condition issue Listing says: Buyers financing fell through right before closing. · AI review
- mediumUnit 3 rent of $725 is far below our estimate, and the tenant has been there since 2018 Listing says: Unit 3: Leased for $725 month to month. Been there since 2018 · AI review
- lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "Unit 2: Vacant Unit 3: Leased for $725 month to month . Been there since 2018 Unit 1 pictures"
Opportunities
- Vacant Unit 2 and the departing Unit 1 tenant give you control over rents and tenant selection at turnover Listing says: Unit 2: Vacant · AI review
- House hack the main 3-bed and rent the two 1-beds Listing says: Could be a good house hack. · AI review
- Rents can be raised to market with no cap Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Why did the buyer's financing fall through? Was it the appraisal, the inspection, or the loan itself?
- What is the roof's permit date and who installed it?
- Are the lower units legal and licensed rental units, with egress windows and a city rental license?
- Are the meters and panels separate for each unit? Who pays heat, water and electric?
- What was Unit 1's condition, and can you get photos or a showing before the tenant leaves?
- What do the taxes and any special assessments run for this parcel?
Bottom line
A usable triplex, but at $255K it loses money; it only works as a house hack or at a price nearer $198K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $4,304 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,355 |
| 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 rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-03-26 (193 days); down $20,000 (7.3%) from the first ask of $275,000; last sold for $218,100 on 2017-09-13.
| Date | Event | Price |
|---|---|---|
| Listed | $255,000 | |
| Removed | $255,000 | |
| Price changed | $255,000 | |
| Price changed | $259,900 | |
| Price changed | $267,400 | |
| Price changed | $269,900 | |
| Price changed | $272,500 | |
| Listed | $275,000 | |
| Sold public record | $218,100 | |
| Removed | $225,000 | |
| Listed | $225,000 | |
| Sold public record | $168,000 |
From the listing Listing
| Listed as | triplex |
| Property tax, 2025 | $4,304 |
| County | Clay |
| Parcel number | 588050820 |
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 Moorhead on rental licensing before you buy.