245 Glenmoor Ln

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 2,040 sq ft

Cash flows

18 photos

Photos, via Realtor.com.

Asking price: $475,000
Monthly cash flow: $217
Estimated rent: $4,750/mo
Break-even price: $515,774

Adjust the numbers See the full breakdown

From the listing

Offering a flexible multi-family layout in a convenient Long Lake location, this property provides a variety of possibilities for owner-occupants, multi-generational living, or investment use. The upper level features two bedrooms, a full bathroom, kitchen, dining area, spacious family room with a gas fireplace, and an additional flex room that works well as a home office or bonus space. A covered porch extends across the back of the home and provides an inviting place to enjoy the outdoors. New windows since 2022 excluding the laundry room and garage. The walkout lower level includes three bedrooms, a full bathroom, kitchen with granite countertops, dining area, and a comfortable family room with a gas fireplace. Step directly outside to the patio and fully fenced backyard. The property backs up to the Long Lake trail and offers direct access. The property line extends beyond the fence, and a wooded buffer creates privacy and a natural backdrop. Additional features include shared laundry, an attached garage, a large driveway, nearby tennis courts, and convenient access to area roadways. A unique opportunity in the heart of Long Lake and Orono School District.

Description from Realtor.com, MLS #7131177. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a split-level up/down duplex with 2 beds upstairs and 3 beds in a walkout lower level, priced at $475K. Our numbers show about $217 a month in cash flow at the asking price, a 6.9% cap rate, and a break-even price of $516K, so it works at 20% down even at full ask, though with a thin cushion. The listing gives no rents, no lease terms and no tax figure, and the county record didn't match, so the income and the tax bill are both unverified. The pitch leans toward owner-occupants and multi-generational use, which makes me ask whether it is a legal, licensed two-unit property at all. Get the rent roll, tax bill and rental license status before a showing, and expect to negotiate on price.

Things to consider

Cash flow is thin at ask About $217 a month and a $516K break-even price leave little cushion for vacancy or repairs. A lower price or higher rents would add safety.
Rents and taxes are unverified The county parcel did not match, so the tax bill and unit count are guesses. A higher non-homestead tax could push cash flow negative.
Legal status as a two-unit rental Owner-occupant marketing suggests the lower level may be an informal unit. Check zoning, permits and rental licensing.Listing says: “possibilities for owner-occupants, multi-generational living, or investment use”
Shared laundry and likely shared utilities Shared laundry and possible single meters can shift utility costs to the owner and cut net income.Listing says: “shared laundry, an attached garage, a large driveway”
Newer windows and fresh interiors lower near-term capex Updated windows and finishes reduce early repair costs. Still check the roof, furnace and panel, which the photos don't show.Listing says: “New windows since 2022 excluding the laundry room and garage.”
Rent upside with no cap The estimated mid rents total about $4,750 a month combined, and there is no cap on increases. Confirm actual rents before relying on this.

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

doneNew windows throughout, except laundry room and garageListing says: New windows since 2022 excluding the laundry room and garage.

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: $475,000
Cash to close: $109,250
Price per unit: $237,500
GRM: 8.3

Each month

Cash flow: $217/mo
Cash-on-cash: 2.4%
Cap rate: 6.9%
DSCR: 1.09×

Break-even

Price that breaks even: $515,774
Rent that breaks even: $4,472/mo

Long run

Year 30: property vs stocks: $2.40M vs $832K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,750
Vacancy (6%)	−$285
Collected	$4,465
Property tax Listing	−$537
Insurance Estimate	−$192
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$380
Capital reserve (8% of rent)	−$380
Net operating income	$2,745
Mortgage (principal + interest)	−$2,528
Cash flow	$217
Principal paid down (equity, not cash)	$322

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$2,399,751

Your equity when you sell: $1,083,773
Rental profits, invested at 7%: $1,315,979

Same money in stocks$831,639

Cash to close, invested at 7%: $831,639

The building comes out $1,568,112 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 $2.40M, stocks $832K. 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.

3 bed / 1 bath estimate $2,675/mo · range $2,675–$2,675

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
17710 12th Ave N, Unit 1369954P, Plymouth 55447 off market	$4,150	3 / 2	1,862	2.5 mi	2026-02-05	89%
17035 9th Ave N, Unit 1369955P, Plymouth 55447 off market	$5,183	3 / 2	1,345	2.8 mi	2026-03-03	83%
3713 Livingston Ave, Wayzata 55391 off market	$1,995	3 / 2.5	1,710	4.4 mi	2025-12-15	82%
231 Manitoba Level Ave N, Unit Main, Wayzata 55391 off market	$6,000	3 / 1	2,161	2.0 mi	2026-01-16	81%
4729 Ironwood Cir, Medina 55359 off market	$2,650	3 / 2.5	1,614	4.7 mi	2025-01-10	81%
16405 13th Ave N, Plymouth 55447 off market	$3,500	3 / 1	2,190	3.3 mi	2026-01-03	79%
4760 Ironwood Cir, Medina 55359	$2,999	3 / 3	1,637	4.7 mi	2026-06-30	79%
4760 Ironwood Cir, Maple Plain 55359 off market	$2,999	3 / 3	1,637	4.7 mi	2026-06-30	79%
131 Broadway Ave N, Unit 1368698P, Plymouth 55391 off market	$5,004	2 / 2	1,646	2.3 mi	2026-02-13	78%
709 Wayzata Blvd E, Wayzata 55391 off market	$3,200	3 / 2	2,038	2.3 mi	2025-11-15	77%

2 bed / 1 bath estimate $2,075/mo · range $1,250–$2,925

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
2712 Terraceview Ct, Plymouth 55447 off market	$1,850	2 / 1	1,400	4.2 mi	2026-04-20	86%
1805 County Rd, 101 N, Plymouth 55447 off market	$1,500	2 / 1	1,026	2.8 mi	2026-01-01	84%
101 Glenbrook Rd N, Plymouth 55391 off market	$1,330	2 / 1	900	2.5 mi	2026-05-07	83%
101 Glenbrook Rd N, Wayzata 55391 off market	$1,330	2 / 1	900	2.5 mi	2026-01-10	83%
15215 18th Ave N, Plymouth 55447	$1,669	2 / 1	1,040	4.1 mi	2025-12-30	82%
520 Virginia Ave, Long Lake 55356	$2,575	2 / 2	1,023	1.0 mi	2024-04-12	82%
520 Virginia Ave, Unit 100, Long Lake 55356 off market	$2,575	2 / 2	1,023	1.1 mi	2026-09-24	82%
2205 Shenandoah Ln N, Plymouth 55447	$1,500	2 / 1	880	4.0 mi	2025-12-04	80%
2755 Olive Ln N, Unit A, Plymouth 55447 off market	$1,015	1 / 1	2,692	3.0 mi	2026-08-05	80%
17710 12th Ave N, Unit 1369954P, Plymouth 55447 off market	$4,150	3 / 2	1,862	2.5 mi	2026-02-05	80%

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 rent, lease or tax details given, and the parcel did not match county records, so income and unit count cannot be verified. Based on: data: rule_flags · 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 245 GLENMOOR LN
mediumShared laundry and likely shared systems mean utilities and meters may not be separated. Confirm separate meters and heat. Listing says: shared laundry, an attached garage, a large driveway · AI review
mediumListing is marketed as owner-occupant or multi-generational use, so it may not be a legally separate, licensed rental duplex. Listing says: possibilities for owner-occupants, multi-generational living, or investment use · AI review

Opportunities

Both units look move-in ready with new kitchens and flooring, so little capex is likely up front. Based on: photo 8 · AI review
No rent cap, so rents can follow the market. Our mid estimates are $2,675 for the 3-bed and $1,825 for the 2-bed. Based on: data: underwriting.rent_rule · AI review
Backs onto a trail with a fenced yard and an attached garage, which helps tenant appeal. Listing says: The property backs up to the Long Lake trail and offers direct access. · AI review

Questions for the agent

Is this a legally licensed two-unit property, and does the city require a rental license?
What are the current rents and lease terms, or is one unit owner-occupied?
Are there separate meters and heating systems for each unit? Who pays what?
What were the last two years of property taxes, and is it homestead-classified?
Is the lower level permitted, with egress in all three bedrooms?
How is the shared laundry set up, and who has access to the garage?

Bottom line

Move-in-ready up/down in a nice spot, and at $475K it cash flows slightly at ask, but the rents, taxes and legal two-unit status are all unverified. 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.	$6,448
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,310
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 2026-08-21 (45 days); down $20,000 (4.0%) from the first ask of $495,000; last sold for $348,500 on 2019-11-14.

Date	Event	Price
2026-09-10	Price changed	$475,000
2026-08-21	Listed	$495,000
2019-11-14	Sold	$348,500
2019-10-11	Removed	$365,999
1999-04-20	Sold public record	$155,500
1996-08-23	Sold public record	$143,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$6,448
County	Hennepin
Parcel number	3511823310034

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 Long Lake on rental licensing before you buy.