16618 20th St

Duplex · 2 units: 1 bed / 1 bath ×2 unit split estimated · 2,277 sq ft

Cash flows

18 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $239,900
Monthly cash flow: $428
Estimated rent: $2,900/mo
Break-even price: $320,355

Adjust the numbers See the full breakdown

From the listing

Great investment opportunity or perfect for an owner-occupant! This well-maintained duplex received extensive updates since 2007, including remodeled kitchens and bathrooms, newer windows, updated furnaces, and central air units. Both units are one-bedroom, one-bath and are truly move-in ready. The upper-level unit features its own private entrance, while the main-floor unit enjoys access to the full, unfinished basement. Each unit has its own washer and dryer, adding convenience and value for tenants or owners. Outside, you'll find a single garage and a large yard, offering great outdoor space and additional parking options. The property is in excellent condition, making it a solid long-term investment or a comfortable place to call home.

Listing courtesy of NRT-Minnesota (CB Burnet) (Debbie Niemeyer). Description from Realtor.com, MLS #7127710. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

Two 1-bed/1-bath units in Princeton at $239,900, and our underwriting shows about $428/mo cash flow at 20% down and an 8.5% cap rate, with break-even near $320K. That's decent for today's rates, but it leans on our $1,450 mid rent estimates because the listing states no actual rents. The description calls it 'excellent condition' and photos show dated but clean 2000s-era finishes, so I'd treat the updates as cosmetic until proven. First asks: current rents and lease terms, who pays utilities, and real taxes, since we couldn't match a county parcel. At 51 days on market it's worth a showing if the rent roll backs up the estimates.

Things to consider

Income rests on our estimates No rents are stated, so the $428/mo cash flow depends on $1,450 per unit being achievable. Get the rent roll.
Cash flow and cap rate look decent An 8.5% cap and positive cash flow at 20% down is workable at current rates, with some cushion before break-even price.
Taxes and legal status unverified A higher non-homestead tax bill or missing rental license could cut cash flow.
Updates are about 15+ years old Kitchens and baths from 2007 era mean budgeting for refresh and reserves before pushing rents.Listing says: “extensive updates since 2007, including remodeled kitchens and bathrooms, newer windows, updated furnaces”
Stucco condition and 1920 build Visible stucco cracking suggests checking for moisture intrusion and the roof.From photo 1
51 days on market Time on market gives some negotiating room, especially if inspection finds issues.

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

doneExtensive updates since 2007: remodeled kitchens and baths, newer windows, updated furnaces, central airListing says: extensive updates since 2007, including remodeled kitchens and bathrooms, newer windows, updated furnaces, and central air units

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: $239,900
Cash to close: $55,177
Price per unit: $119,950
GRM: 6.9

Each month

Cash flow: $428/mo
Cash-on-cash: 9.3%
Cap rate: 8.5%
DSCR: 1.34×

Break-even

Price that breaks even: $320,355
Rent that breaks even: $2,351/mo

Long run

Year 30: property vs stocks: $1.70M vs $420K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,900
Vacancy (6%)	−$174
Collected	$2,726
Property tax Listing	−$130
Insurance Estimate	−$197
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$232
Capital reserve (8% of rent)	−$232
Net operating income	$1,705
Mortgage (principal + interest)	−$1,277
Cash flow	$428
Principal paid down (equity, not cash)	$162

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$1,700,950

Your equity when you sell: $547,362
Rental profits, invested at 7%: $1,153,588

Same money in stocks$420,021

Cash to close, invested at 7%: $420,021

The building comes out $1,280,929 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 $1.70M, stocks $420K. 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.

1 bed / 1 bath estimate $1,450/mo · range $1,275–$1,650

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
13896 Birdie Ln SE, Becker 55308	$1,375	1 / 1	784	9.8 mi	2025-01-03	69%
12051 Hancock St SE, Becker 55308 off market	$1,100	1 / 1	850	10.3 mi	2026-06-09	69%
103 19th Ave N, Princeton 55371	$1,450	1 / 1	820	10.7 mi	2025-04-11	68%
207 7th Ave S, Apt 1, Princeton 55371 off market	$1,350	2 / 1	—	11.5 mi	2026-09-25	67%
207 7th Ave S, Princeton 55371 off market	$1,350	2 / 1	—	11.5 mi	2026-09-16	67%
715 Martin Ave, Big Lake 55309 off market	$1,350	1 / 1	936	14.7 mi	2026-01-05	67%
106 7th Ave S, Princeton 55371 off market	$995	2 / 1	—	11.6 mi	2026-05-09	67%
5200 13th St NE, Sauk Rapids 56379 off market	$1,200	2 / 1	—	11.9 mi	2026-07-08	66%
925 W Branch St, Princeton 55371	$900	1 / 1	630	11.3 mi	2026-06-04	65%
923 W Branch St, Princeton 55371 off market	$900	1 / 1	630	11.3 mi	2026-05-19	65%

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 16618 20TH ST
mediumTaxes and unit count unverified; no county parcel match, so tax bill and legal duplex status are unknown. Based on: data: rule_flags · AI review
mediumDescription gives no rents, lease status or utility info, so income is entirely our estimate. Based on: data: rent_estimate · AI review
low'Updates since 2007' means kitchens and baths are likely 15+ years old; 'newer' windows and furnaces are undated. Listing says: extensive updates since 2007, including remodeled kitchens and bathrooms, newer windows, updated furnaces · AI review

Opportunities

Main-floor unit has access to a full unfinished basement, which could add storage or shared space value. Listing says: the main-floor unit enjoys access to the full, unfinished basement · AI review
Each unit has its own washer/dryer, so no shared laundry and easier to rent. Listing says: Each unit has its own washer and dryer, adding convenience and value for tenants or owners. · AI review
No rent cap, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What are the current rents, lease end dates and are any tenants month-to-month?
Who pays heat, electric, water and trash, and are the furnaces and meters separate for each unit?
What are the actual property taxes and is the duplex legally licensed in Princeton?
What year were the furnaces, windows, roof and water heaters replaced?
Is the unfinished basement shared, and is the single garage assigned to one unit?
Why has it sat 51 days, and has the price changed?

Bottom line

Reasonable numbers on paper for a small duplex, but verify rents, taxes and utilities before trusting our estimates. 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.	$1,554
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,369
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 2026-08-15 (51 days).

Date	Event	Price
2026-08-15	Listed	$239,900

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$1,554
County	Sherburne
Parcel number	45000102320

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 Princeton on rental licensing before you buy.