2059-2063 Second St
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 2,000 sq ft
White Bear Lake, MN · View the listing ↗
Photos courtesy of Rocket Realty, via Realtor.com.
- Asking price
- $675,000 2 units · $338K per unit
- Monthly cash flow
- −$1,590 at 20% down, 7%
- Estimated rent
- $4,100/mo medium confidence
- Break-even price
- $376,270 where cash flow hits $0
First look
This is two old single-family houses on two parcels, priced as a development play at $675K. The numbers don't work as a rental: our model shows about -$1,590 a month and a 3.6% cap rate, and break-even is near $376K. The listing gives no rents, only 'below market rates', so you can't underwrite income. The real value is the GX-D zoning, which means you're paying for land and redevelopment potential, not cash flow. Confirm what the zoning allows, the tenants' actual leases, and the taxes before a showing. Without a rent roll and a zoning-based plan, it's hard to justify this price.
Things to consider
- Price doesn't work on rental income Our model shows negative cash flow and a 3.6% cap rate at asking. You would be subsidizing it every month while waiting for land value to rise.
- Rents are unknown 'Below market' could mean anything. Without a rent roll you can't tell how much of the gap you can close or how fast.Listing says: “currently fully leased at below market rates that allow for future increases”
- Zoning is the real thesis If GX-D allows denser use, the land may be worth more than the houses. Verify allowed uses, setbacks and timing with the city before relying on it.Listing says: “GX-D (General Mix Downtown) zoning”
- Taxes and unit count unverified We couldn't match a county parcel, so taxes could be higher than modeled, especially if the land is classed commercial.
- Old houses, condition unknown Built in 1899, the houses likely have aging systems and possibly old wiring or plumbing. Inspection costs could further hurt returns.
From the photos
Based on 1 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
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
- $675,000
- Cash to close
- $87,750
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$2,419/mo
- Cash-on-cash
- −33.1%
- Cap rate
- 3.6%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $305,740
- Rent that breaks even
- $7,241/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $2.36M
- Cash flow turns positive
- year 28
The deal
- Price
- $675,000
- Cash to close
- $87,750
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$2,766/mo
- Cash-on-cash
- −37.8%
- Cap rate
- 2.9%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $252,786
- Rent that breaks even
- $8,135/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.90M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $86,450
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$2,353/mo
- Cash-on-cash
- −32.7%
- Cap rate
- 3.6%
- DSCR
- 0.46×
Break-even
- Price that breaks even
- $305,740
- Rent that breaks even
- $7,156/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $2.29M
- Cash flow turns positive
- year 27
The deal
- Price
- $665,000
- Cash to close
- $86,450
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$2,700/mo
- Cash-on-cash
- −37.5%
- Cap rate
- 3.0%
- DSCR
- 0.38×
Break-even
- Price that breaks even
- $252,786
- Rent that breaks even
- $8,039/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $2.82M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $155,250
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,590/mo
- Cash-on-cash
- −12.3%
- Cap rate
- 3.6%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $376,270
- Rent that breaks even
- $6,165/mo
Long run
- Year 30: property vs stocks
- $1.58M vs $2.28M
- Cash flow turns positive
- year 24
The deal
- Price
- $675,000
- Cash to close
- $155,250
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,937/mo
- Cash-on-cash
- −15.0%
- Cap rate
- 2.9%
- DSCR
- 0.46×
Break-even
- Price that breaks even
- $311,100
- Rent that breaks even
- $6,926/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.78M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $152,950
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,537/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 3.6%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $376,270
- Rent that breaks even
- $6,096/mo
Long run
- Year 30: property vs stocks
- $1.56M vs $2.21M
- Cash flow turns positive
- year 23
The deal
- Price
- $665,000
- Cash to close
- $152,950
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,884/mo
- Cash-on-cash
- −14.8%
- Cap rate
- 3.0%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $311,100
- Rent that breaks even
- $6,848/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $2.71M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $189,000
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,365/mo
- Cash-on-cash
- −8.7%
- Cap rate
- 3.6%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $401,355
- Rent that breaks even
- $5,873/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $2.32M
- Cash flow turns positive
- year 21
The deal
- Price
- $675,000
- Cash to close
- $189,000
- Price per unit
- $337,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,712/mo
- Cash-on-cash
- −10.9%
- Cap rate
- 2.9%
- DSCR
- 0.49×
Break-even
- Price that breaks even
- $331,840
- Rent that breaks even
- $6,598/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.79M
- Cash flow turns positive
- year 29
The deal
- Price
- $665,000
- Cash to close
- $186,200
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,316/mo
- Cash-on-cash
- −8.5%
- Cap rate
- 3.6%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $401,355
- Rent that breaks even
- $5,808/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $2.25M
- Cash flow turns positive
- year 21
The deal
- Price
- $665,000
- Cash to close
- $186,200
- Price per unit
- $332,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,662/mo
- Cash-on-cash
- −10.7%
- Cap rate
- 3.0%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $331,840
- Rent that breaks even
- $6,525/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $2.71M
- Cash flow turns positive
- year 28
Monthly
Monthly breakdown
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$4,042 |
| PMI | −$380 |
| Cash flow | −$2,419 |
| Principal paid down (equity, not cash) | $514 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$4,042 |
| PMI | −$380 |
| Cash flow | −$2,766 |
| Principal paid down (equity, not cash) | $514 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$3,982 |
| PMI | −$374 |
| Cash flow | −$2,353 |
| Principal paid down (equity, not cash) | $507 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$3,982 |
| PMI | −$374 |
| Cash flow | −$2,700 |
| Principal paid down (equity, not cash) | $507 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$3,593 |
| Cash flow | −$1,590 |
| Principal paid down (equity, not cash) | $457 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$3,593 |
| Cash flow | −$1,937 |
| Principal paid down (equity, not cash) | $457 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$3,539 |
| Cash flow | −$1,537 |
| Principal paid down (equity, not cash) | $450 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$3,539 |
| Cash flow | −$1,884 |
| Principal paid down (equity, not cash) | $450 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$3,368 |
| Cash flow | −$1,365 |
| Principal paid down (equity, not cash) | $429 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$3,368 |
| Cash flow | −$1,712 |
| Principal paid down (equity, not cash) | $429 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,003 |
| Mortgage (principal + interest) | −$3,318 |
| Cash flow | −$1,316 |
| Principal paid down (equity, not cash) | $422 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Listing | −$714 |
| Insurance Estimate | −$211 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,656 |
| Mortgage (principal + interest) | −$3,318 |
| Cash flow | −$1,662 |
| Principal paid down (equity, not cash) | $422 |
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
- $1,540,098
- Rental profits, invested at 7%
- $5,891
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $607,500 of loan.
$5,675 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $667,975
- Monthly shortfalls, invested
- $1,695,929
$87,750 put into an index fund instead of the down payment and closing costs.
$391,647 you'd have paid in while the building lost money, invested instead.
Stocks come out $817,915 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $607,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $667,975
- Monthly shortfalls, invested
- $2,229,578
$87,750 put into an index fund instead of the down payment and closing costs.
$583,996 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,357,455 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $8,246
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $598,500 of loan.
$7,867 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $658,079
- Monthly shortfalls, invested
- $1,628,671
$86,450 put into an index fund instead of the down payment and closing costs.
$372,013 you'd have paid in while the building lost money, invested instead.
Stocks come out $761,222 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $598,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $658,079
- Monthly shortfalls, invested
- $2,159,965
$86,450 put into an index fund instead of the down payment and closing costs.
$562,170 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,300,762 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $38,365
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $540,000 of loan.
$33,389 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,181,803
- Monthly shortfalls, invested
- $1,101,879
$155,250 put into an index fund instead of the down payment and closing costs.
$239,467 you'd have paid in while the building lost money, invested instead.
Stocks come out $705,218 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $540,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,181,803
- Monthly shortfalls, invested
- $1,603,054
$155,250 put into an index fund instead of the down payment and closing costs.
$404,102 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,244,758 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $44,842
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $532,000 of loan.
$38,451 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,164,294
- Monthly shortfalls, invested
- $1,048,024
$152,950 put into an index fund instead of the down payment and closing costs.
$225,369 you'd have paid in while the building lost money, invested instead.
Stocks come out $650,195 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $532,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,164,294
- Monthly shortfalls, invested
- $1,542,722
$152,950 put into an index fund instead of the down payment and closing costs.
$384,942 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,189,735 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $69,379
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $506,250 of loan.
$56,871 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,438,716
- Monthly shortfalls, invested
- $878,370
$189,000 put into an index fund instead of the down payment and closing costs.
$182,115 you'd have paid in while the building lost money, invested instead.
Stocks come out $707,609 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $1,957
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $506,250 of loan.
$1,926 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,438,716
- Monthly shortfalls, invested
- $1,350,489
$189,000 put into an index fund instead of the down payment and closing costs.
$325,194 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,247,150 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $77,652
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $498,750 of loan.
$62,859 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,417,402
- Monthly shortfalls, invested
- $830,082
$186,200 put into an index fund instead of the down payment and closing costs.
$170,140 you'd have paid in while the building lost money, invested instead.
Stocks come out $652,551 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $3,220
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $498,750 of loan.
$3,144 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,417,402
- Monthly shortfalls, invested
- $1,295,190
$186,200 put into an index fund instead of the down payment and closing costs.
$308,449 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,192,091 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 $1.55M, stocks $2.36M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.90M. Stocks win.
Year 30 (loan paid off): property $1.53M, stocks $2.29M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $2.82M. Stocks win.
Year 30 (loan paid off): property $1.58M, stocks $2.28M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.78M. Stocks win.
Year 30 (loan paid off): property $1.56M, stocks $2.21M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $2.71M. Stocks win.
Year 30 (loan paid off): property $1.61M, stocks $2.32M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.79M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $2.25M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $2.71M. 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 bath estimate $2,450/mo · range $1,900–$3,025
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 4768 Golden Pond Ln, White Bear Lake 55110 | $1,750 | 3 / 1 | 1.6 mi | 87% |
| 1567 Legacy Pkwy E, Maplewood 55109 off market | $2,195 | 3 / 2.5 | 3.6 mi | 84% |
| 3042 Hemlock St, Unit Hemlock, Little Canada 55117 off market | $2,450 | 3 / 3 | 4.8 mi | 80% |
| 1255 County Road D Cir E, Vadnais Heights 55109 | $1,730 | 3 / 2 | 3.7 mi | 80% |
| 2000 County Rd, F E, White Bear Lake 55110 off market | $2,350 | 3 / 1 | 1.3 mi | 80% |
| 1874 7th St, White Bear Lake 55110 off market | $2,349 | 3 / 2 | 0.5 mi | 80% |
| 2168 First St, White Bear Lake 55110 | $4,000 | 3 / 1.5 | 0.2 mi | 80% |
| 1440 Harmony Dr, Mahtomedi 55115 off market | $2,545 | 3 / 1 | 3.1 mi | 79% |
| 2273 Sierra Dr, White Bear Lake 55110 off market | $2,335 | 3 / 2 | 1.5 mi | 78% |
| 1610 9th St, White Bear Lake 55110 | $2,410 | 3 / 1 | 1.0 mi | 78% |
2 bed / 1 bath estimate $1,650/mo · range $1,425–$1,900
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1251 Mahtomedi Ave, Mahtomedi 55115 off market | $1,549 | 2 / 1 | 2.9 mi | 86% |
| 4890 Birch Lake Cir, White Bear Lake 55110 | $2,000 | 2 / 1 | 1.4 mi | 86% |
| 1501 Park St, White Bear Lake 55110 | $1,575 | 2 / 1 | 1.2 mi | 85% |
| 3908 Hoffman Rd, White Bear Lake 55110 | $1,190 | 2 / 1 | 1.8 mi | 85% |
| 4008 White Bear Ave, Unit 1, White Bear Lake 55110 | $1,500 | 2 / 1 | 1.5 mi | 85% |
| 1816 Birch St, White Bear Lake 55110 | $1,299 | 2 / 1 | 1.7 mi | 85% |
| 1640 9th St, White Bear Lake 55110 | $1,395 | 2 / 1 | 0.9 mi | 84% |
| 1880 Birch St, White Bear Lake 55110 | $1,260 | 2 / 1 | 1.6 mi | 84% |
| 2520 County Rd, F E, White Bear Lake 55110 | $1,327 | 2 / 1 | 1.6 mi | 84% |
| 955 Vadnais Dr, Vadnais Heights 55127 off market | $1,855 | 2 / 1 | 3.7 mi | 84% |
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
- highNo rents, lease terms or expenses given; income can't be verified Listing says: currently fully leased at below market rates that allow for future increases · AI review
- highPriced on future land value, not rental income Based on: data: underwriting.cap_rate · 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 2059-2063 SECOND ST
- mediumAsking is $298,730 above the price where cash flow breaks even ($376,270) at the default scenario. Based on: Derived: price $675,000 vs. break-even $376,270
- mediumSold as a package of two parcels; unclear if they can be bought separately or what each is worth Listing says: This offering comprises two adjacent parcels with rent-producing single-family residences · AI review
- low86 days on market suggests buyers are not accepting the price Based on: data: listing.days_on_market · AI review
Opportunities
- Downtown mixed-use zoning could allow redevelopment or higher-density use; verify with the city Listing says: GX-D (General Mix Downtown) zoning · AI review
- Below-market rents leave room to raise rents; no rent cap applies Based on: data: underwriting.rent_rule · AI review
- Location next to City Hall on a main road may support future commercial value Listing says: Adjacent to City Hall on Second Street · AI review
Questions for the agent
- What are the actual rents, lease end dates and deposits for each house?
- Can the two parcels be sold separately, and what are the taxes on each?
- What does GX-D zoning allow, and has anyone looked into redevelopment or rezoning?
- Who pays utilities, and what are trailing-12 expenses and repairs?
- What are the age and condition of roofs, furnaces, electrical and sewer lines for each house?
- Why has it sat for 86 days, and has the price changed?
Bottom line
You'd be paying a land-play price for two old rentals that lose money each month, so only look if you have a zoning-based plan and real rent figures. 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. | $8,562 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,530 |
| 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 1899: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-07-11 (86 days); down $175,000 (20.6%) from the first ask of $850,000; last sold for $224,900 on 2019-08-23.
| Date | Event | Price |
|---|---|---|
| Price changed | $675,000 | |
| Price changed | $750,000 | |
| Listed | $850,000 | |
| Sold | $224,900 | |
| Relisted | $224,900 | |
| Removed | $224,900 | |
| Listed | $224,900 | |
| Sold | $214,900 | |
| Sold | $214,900 | |
| Listed | $214,900 | |
| Removed | $169,900 | |
| Removed | $189,900 | |
| Listed | $189,900 | |
| Listed | $169,900 | |
| Sold public record | $155,000 | |
| Sold public record | $90,500 | |
| Sold public record | $52,000 | |
| Sold public record | $51,900 |
From the listing Listing
| Listed as | other |
| Property tax, 2026 | $8,562 |
| County | Ramsey |
| Parcel number | 143022420067 |
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 White Bear Lake on rental licensing before you buy.