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2005 7th Ave

Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 1,714 sq ft

Mankato, MN · View the listing ↗

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6 photos
2005 7th Ave, photo 1
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2005 7th Ave, photo 2
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2005 7th Ave, photo 3
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2005 7th Ave, photo 4
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2005 7th Ave, photo 5
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2005 7th Ave, photo 6
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Photos courtesy of CENTURY 21 Atwood, via Realtor.com.

Asking price
$174,800
2 units · $87K per unit
Monthly cash flow
−$65
at 20% down, 7%
Estimated rent
$2,000/mo
low confidence · 6 rentals within 1.5 mi
Break-even price
$162,624
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 1881 duplex in Mankato at $174,800 with almost no detail in the listing: no rents, no unit mix, no systems, no repairs. Our underwriting at asking shows about -$65/month cash flow with a 5.9% cap rate, and break-even is around $163K, so it doesn't work at today's rates unless the price comes down or rents beat our estimates. It has sat 137 days, which gives you room to negotiate. The photos show an older frame building with exterior stairs, an extra outbuilding and a lot of deferred-looking exterior, and nothing inside. Before a showing, get the rent roll, confirm it is a legal two-unit with a rental license, and find out what heats each unit and how old the roof and electrical are.

Things to consider

  1. Cash flow is negative at asking Our model shows about -$65/month, so the price needs to fall or rents need to beat our estimates.
  2. Rents are unknown Without a rent roll, income is a guess; our estimates are $1,000 per unit.
  3. Very old building with unknown systems An 1881 house may need electrical, plumbing and foundation work, which eats cash flow.
  4. Exterior needs attention Stairs, decks and landscaping appear worn, which means near-term repair costs and safety issues.From photo 1
  5. Negotiating leverage 137 days on market suggests the seller may accept a lower price.

From the photos

Listing photo 1
1 of 8Concern

Weathered wood exterior stairs and landing lead to the upper unit entrance; they appear aged and need a safety check.

Listing photo 2
2 of 8Check

Asphalt shingle roof looks worn but intact from the ground; age unknown.

Listing photo 3
3 of 8Concern

Vinyl siding appears serviceable, and overgrown shrubs press against the house, which can hold moisture.

Listing photo 2
4 of 8Check

Lower-level windows sit at or near grade; check that the lower unit has legal egress and no moisture.

Listing photo 4
5 of 8Check

Window AC units appear in the side wall, suggesting no central air.

Listing photo 5
6 of 8Check

Detached outbuilding with wood siding and its own door and a window AC; use and legality unknown.

Listing photo 1
7 of 8Plus

Paved driveway and yard space give off-street parking.

Listing photo 4
8 of 8Check

No interior, kitchen, bath, mechanical or panel photos were provided, so condition inside is unknown.

Based on 5 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

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

Down payment %
Offer $
Management
Interest rate %
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
$174,800
Cash to close
$40,204
Price per unit
$87,400
GRM
7.3

Each month

Cash flow
−$65/mo
Cash-on-cash
−1.9%
Cap rate
5.9%
DSCR
0.93×

Break-even

Price that breaks even
$162,624
Rent that breaks even
$2,084/mo

Long run

Year 30: property vs stocks
$639K vs $316K
Cash flow turns positive
year 4

Monthly

Monthly breakdown

Rent$2,000
Vacancy (6%)−$120
Collected$1,880
Property tax Listing−$240
Insurance Estimate−$204
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$160
Capital reserve (9% of rent)−$180
Net operating income$866
Mortgage (principal + interest)−$930
Cash flow−$65
Principal paid down (equity, not cash)$118

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$638,819
Your equity when you sell
$398,828

Sells for $424,285 (value up 3% a year), minus 6% selling cost ($25,457). Rent paid down $139,840 of loan.

Rental profits, invested at 7%
$239,990

$127,977 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$316,364
Cash to close, invested at 7%
$306,043

$40,204 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$10,321

$1,513 you'd have paid in while the building lost money, invested instead.

The building comes out $322,455 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 $639K, stocks $316K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-06. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,000/mo · range $925–$1,175 · 7 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
111 W Lind St, Mankato $1,130 2 / 1 775 0.6 mi 2026-08-22 Apartment
630 Lyndale St, North Mankato $895 2 / 1 551 0.9 mi 2026-06-26 Apartment
225 E Spring St, Mankato $965 2 / 1 755 1.2 mi 2026-09-11 Apartment
535 N 4th St, Mankato $935 2 / 1 750 1.2 mi 2026-06-03 Apartment
426 N 5th St Apt 1, Mankato $875 2 / 1 672 1.3 mi 2025-07-24 Apartment
501 N 5th St Unit 1/2, Mankato $1,070 2 / 1 896 1.3 mi 2026-06-15 Apartment
405 N 5th St, Mankato $1,200 2 / 1 776 1.4 mi 2025-01-03 Apartment

1 bed estimate $1,000/mo · range $775–$1,425 · 6 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
1247 Range St Apt 118, Mankato $1,365 1 / 1 758 0.6 mi 2026-08-13 Apartment
1247 Range St Apt 429, Mankato $1,465 1 / 1 758 0.6 mi 2026-01-26 Apartment
914 Lyndale St, North Mankato $724 1 / 1 400 0.7 mi 2026-08-06 Apartment
325 Belgrade Ave, North Mankato $775 1 / 1 318 1.3 mi 2026-06-30 Apartment
308 N Broad St, Mankato $870 1 / 1 509 1.3 mi 2026-09-26 Apartment
405 N 5th St, Mankato $1,075 1 / 1 576 1.4 mi 2025-01-03 Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

  • highNo rents, lease terms or expenses given; income is only described as 'potential'. Listing says: This duplex offers strong income potential and endless possibilities for the right buyer. · 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 2005 7TH AVE
  • mediumUnit count, taxes and rental license are unverified because no county parcel match was found. Based on: data: county.tax · AI review
  • mediumExterior wood stairs and decks appear weathered; egress safety and code compliance need checking. Based on: photo 1 · AI review
  • medium1881 build date: likely old wiring, plumbing and possibly stone or brick-and-mortar foundation issues. Based on: data: listing.year_built · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 137 days on market
  • Long time on market and pricing above our break-even give room to negotiate toward ~$155K or below. Based on: data: underwriting.break_even_price · AI review
  • Owner-occupy one unit and rent the other, or renovate to raise rents; Mankato has no rent cap. Listing says: live in one unit while renting the other · AI review
  • Detached outbuilding on the lot might offer garage, storage or extra income use if legal. Based on: photo 5 · AI review

Questions for the agent

  • What are the current rents, lease types and lease end dates for each unit?
  • Is this a legal, licensed two-unit with a Mankato rental license, and what is each unit's bed/bath count?
  • How is each unit heated and who pays utilities? Are there separate meters?
  • What are the ages of the roof, furnace, water heater and electrical panel?
  • What are the annual taxes and any special assessments?
  • Why has it sat 137 days, and have there been price cuts or offers?

Bottom line

A thin listing on a 145-year-old duplex that loses money at asking; only worth a look if the rents are verified and the price drops toward $163K. 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.$2,882
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,451
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. built 1881: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-05-21 (137 days); down $25,000 (12.5%) from the first ask of $199,800; last sold for $121,000 on 2019-08-30.

DateEventPrice
Price changed$174,800
Relisted$182,500
Removed—
Price changed$182,500
Listed$199,800
Sold$121,000
Sold public record$65,000
Sold public record$46,000
Sold public record$46,000

From the listing Listing

Listed asduplex up and down
Property tax, 2026$2,882
CountyBlue Earth
Parcel numberR010906328003

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 Mankato on rental licensing before you buy.