Cash flowsPrice cut $5K110 days on market
239 3rd Ave W, Shakopee
Duplex · 2 units: 1 bed / 1 bath ×2 unit split estimated · 1,656 sq ft · View the listing ↗
Photos, via Realtor.com.
+$207 monthly cash flow
After every cost, including reserves for vacancy and repairs, this duplex puts about $207 a month in your pocket. That’s a 4.1% yearly return on the $60,927 you’d put in.
At $264,900, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 4.1% Yearly cash flow ÷ cash in
- Cap rate
- 7.3% Return if you paid all cash
- Cash to close
- $60,927 Down payment + closing costs
- Break-even price
- $303,787 Most you can pay and still cash flow
Boardwalk’s take
AI-assisted · checked against public recordsA plain 1-bed/1-bed duplex that cash flows modestly at asking if rents hit about $1,475 a unit, but you need real rents, taxes and heat details first.
This is a 1885 up/down with one bed and one bath per side, priced at $264,900. Our numbers show about $207 a month in cash flow at 20% down and a 7.3% cap rate. That works only if both units rent near our $1,475 estimate. The listing gives no rents, no lease status, no utility split and no tax figure, so those come first. The photos show dated kitchens and baths, so budget for updates before pushing rents. The 2-car garage and corner lot are real pluses. It's worth a showing if rents and taxes check out and the heat setup is separate.
Things to consider
- Rents are unverified Cash flow of $207 a month depends on our $1,475 estimate per unit. Without actual rents, the real number could be much lower.
- Dated interiors in both units Kitchens and baths look original, so expect turnover work and possibly a renovation to reach top rents.From photo 3
- Old building with unknown systems An 1885 house needs checks on wiring, plumbing, foundation and boiler. Surprises here eat the thin cash flow.
- Heat and utilities are not stated One shared boiler would put heat on the owner and cut cash flow.From photo 9
- Small-building price sits near our break-even Break-even price is about $304K versus a $264.9K ask, which leaves a cushion, but only if our rent and expense assumptions hold.
The listing, and how its numbers compare
MLS #7146795What the seller says
Wonderful 2 story duplex with 2 car garage & large corner lot, main level & upper level apartment with separate entrance, each unit has 1 bedroom and 1 bathroom, newer windows and roof, well maintained stucco exterior, great place to live/own and earn rent from upstairs apartment, call for details. Ready to move right in and enjoy, come see!!
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Property tax | $2,660 (2026) | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Duplex Up and Down
- Year built
- 1885
- Living area
- 1,656 sq ft
- Exterior
- Stucco · Frame
- Roof
- Asphalt Shingles
- Basement
- Partial
Systems and utilities
- Heating
- Forced Air · Natural Gas
- Electric
- Circuit Breakers, 100 Amp Service
- Water / sewer
- City Water · City Sewer - In Street
Parking and lot
- Garage
- 2 spaces
- Parking
- Detached Garage, Driveway - Gravel, Garage Door Opener
- Lot
- 0.19 acres · 60 x 142
- Outdoor
- Patio
- Zoning
- Residential-Single Family
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $2,950 |
| Vacancy | −$177 |
| Property tax | −$222 |
| Insurance | −$203 |
| Water, sewer, trash | −$170 |
| Repairs and capital reserve | −$502 |
| Net operating income | $1,617 |
| Mortgage (principal + interest) | −$1,410 |
| Cash flow | $207 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $997K aheadYear 30 (loan paid off): this building $1,461,005, the same money in stocks $463,792.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year, costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
1 bed: $1,475/mo · range $1,275–$1,600 · 8 rentals within 1.25 mi · medium confidence
Median asking rent of nearby rentals with the same bedroom count (within 1.25 miles): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. Adjustments: $25/unit (garage mentioned in the description). Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 129 Holmes St S, Shakopee | $1,669 | 1 / 1 | 0.2 mi |
| 125 Scott St N, Shakopee | $1,504 | 1 / 1 | 0.2 mi |
| 609 Market St S Apt 4, Shakopee | $1,300 | 1 / 1 | 0.6 mi |
| 107 Prairie St N Apt 3, Shakopee | $1,095 | 1 / 1 | 0.8 mi |
| 1245 Shakopee Ave E, Shakopee | $1,225 | 1 / 1 | 1.0 mi |
| 1224 Shakopee Ave E, Shakopee | $1,585 | 1 / 1 | 1.1 mi |
| 700 Roundhouse St, Shakopee | $1,400 | 1 / 1 | 1.1 mi |
| 1324 Eagle Creek Blvd, Shakopee | $1,521 | 1 / 1 | 1.1 mi |
Asking rents from Realtor.com listings, not signed leases.
What the photos show
AI review of 10 listing photosCondition and repairs the listing claims
Done Newer windows and roof (ages not given)
Photos can hide as much as they show; an inspection is the real answer.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
- checkNo rents, lease terms or occupancy given; the owner may be living in one unit Listing says: great place to live/own and earn rent from upstairs apartment · AI review
- check1885 building with baseboard hot-water heat visible; confirm how many boilers and who pays Based on: photo 9 · AI review
- minorTax, assessment and rental license data are all missing from the facts Based on: data: county.tax · AI review
Opportunities
- Original-style kitchen and baths leave room to modernize and lift rents Based on: photo 3 · AI review
- Detached 2-car garage can be rented or assigned to a unit for extra income Listing says: call for details. Ready to move right in and enjoy · AI review
- No rent cap in Shakopee, so rents can follow the market after updates Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the current rents and lease end dates, and is the owner living in one unit?
- Is there one boiler or two, and who pays heat, water and electric?
- How old are the roof and windows, and what is the electrical panel type?
- Is the duplex licensed as a rental in Shakopee, and what are the annual taxes?
- Does the upper unit have its own meters, and is the garage included for tenants?
- Why is it listed now, and have there been any price changes or offers?
What the records say
Price history · Realtor.com
On the market since 2026-07-15 (110 days); down $5,000 (1.9%) from the first ask of $269,900.
| Date | Event | Price |
|---|---|---|
| Listed | $264,900 | |
| Removed | $269,900 | |
| Listed | $269,900 | |
| Listed | $269,900 |
From the listing
| Listed as | Duplex up and down |
| Property tax, 2026 | $2,660 |
| County | Scott |
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 Shakopee on rental licensing before you buy.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.