27096 Little Floyd Lake Rd

Duplex · 2 units: 2 bed / 1 bath ×2 · 1,248 sq ft

Far off

54 photos

Photos, via Realtor.com.

Asking price: $610,000
Monthly cash flow: −$2,720
Estimated rent: $2,500/mo
Break-even price: $98,921

Adjust the numbers See the full breakdown

From the listing

Imagine waking up to serene lake views and the promise of outdoor adventures. This West-End of Madsen Grove Resort building entails 2 units with a shared wall totaling 4 beds / 2 baths / 2 kitchens. Step outside to discover a world of recreation from the expansive lakeside paver patio. Whether you're an investor, avid angler, water sports enthusiast, or simply love to bask in the tranquility of lake views, this property offers it all. Each unit comes with a dedicated boat slip and 2 unassigned parking spaces. End each day with breathtaking sunsets over the water, or a boat ride to Sunlite bar & grill just across the lake. Unit 1: The larger of the two - Currently set up as a active vacation rental - providing immediate income - featuring 2 bedrooms, 1 bathroom with laundry closet and custom tile shower, eat-in kitchen, entrance with bench and storage, and a large living room. Unit 2: Owner occupied - smaller of the two units with high end finishes. Features 2 beds, 1 bath with custom tile shower, electric floor heat, quartz vanity, and custom stone backsplash. The gourmet kitchen is a chef's dream, boasting high-end stainless steel appliances, sleek cabinetry, and a stylish stone-faced / Cambria-quartz island with comfortable seating. Natural light floods the space through large windows, while the stone accent wall adds a touch of rustic charm. Units were completely renovated in 2016-2017 - Including but not limited to - New wiring, plumbing, insulated septic lines, electrical, spray foam insulation, led fixtures, custom cabinetry, quartz / laminate counters, energy star stainless appliances, speed queen washer/dryers, tile, carpet, and vinyl plank flooring. Steel roofing and siding in 2015. Shared holding tanks pumped by 3rd party through HOA.

Description from Realtor.com, MLS #7005871. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a lakefront vacation-rental duplex with an owner-occupied side, priced at $610K. Our long-term rent estimate is about $1,250 per unit, and at asking the deal loses roughly $2,720 a month with a 1.0% cap rate. Break-even is near $99K, so the price only makes sense if short-term rental income is very strong. The listing gives no revenue figures, so ask for 12\u201324 months of vacation-rental bookings, platform payouts, and taxes. It has sat 271 days, which gives you room to negotiate. Don't show up before you know how the shared holding tanks, HOA rules and resort zoning limit rentals.

Things to consider

Price is far above what long-term rents support The estimated rent is about $1,250 per unit, and our model has break-even near $99K. Only strong short-term income could close that gap.
Verify short-term rental income Immediate income is claimed but not quantified. Seasonal lake demand can swing a lot, and one unit is owner occupied.Listing says: “Currently set up as a active vacation rental - providing immediate income”
Shared septic holding tanks and HOA Pumping, rules, and any special assessments are outside your control and affect operating costs.Listing says: “Shared holding tanks pumped by 3rd party through HOA.”
HOA dues add a fixed cost $283 a month is about $3,400 a year before taxes, insurance and utilities.
Negotiating leverage from long listing time Nine months on market suggests the seller may accept a price well below ask.

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

doneFull renovation of both units: wiring, plumbing, insulated septic lines, spray foam insulationListing says: Units were completely renovated in 2016-2017
doneSteel roofing and sidingListing says: Steel roofing and siding in 2015.

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: $610,000
Cash to close: $140,300
Price per unit: $305,000
GRM: 20.3

Each month

Cash flow: −$2,720/mo
Cash-on-cash: −23.3%
Cap rate: 1.0%
DSCR: 0.16×

Break-even

Price that breaks even: $98,921
Rent that breaks even: $5,900/mo

Long run

Year 30: property vs stocks: $1.39M vs $4.06M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$2,500
Vacancy (6%)	−$150
Collected	$2,350
Property tax Estimate	−$1,068
Insurance Estimate	−$176
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (7% of rent)	−$175
Capital reserve (7% of rent)	−$175
Net operating income	$526
Mortgage (principal + interest)	−$3,247
Cash flow	−$2,720
Principal paid down (equity, not cash)	$413

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$1,391,792

Your equity when you sell: $1,391,792
Rental profits, invested at 7%: $0

Same money in stocks$4,064,926

Cash to close, invested at 7%: $1,067,999
Monthly shortfalls, invested: $2,996,927

Stocks come out $2,673,134 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 $1.39M, stocks $4.06M. 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.

2 bed / 1 bath estimate $1,250/mo · range $1,075–$1,400

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
804 Central St E, Detroit Lakes 56501 off market	$1,100	2 / 1	—	3.2 mi	2025-12-24	89%
843 Washington Ave, Detroit Lakes 56501 off market	$1,425	2 / 2	1,208	3.6 mi	2025-07-24	89%
601 Main St W, Detroit Lakes 56501 off market	$1,100	2 / 1	—	3.5 mi	2026-03-19	89%
1210 Jackson Ave, Detroit Lakes 56501	$845	2 / 1	—	4.1 mi	2026-06-24	88%
201 Holmes St E, Apt 402, Detroit Lakes 56501 off market	$1,375	2 / 2	1,141	3.7 mi	2026-09-23	88%
201 Holmes St E, Apt 302, Detroit Lakes 56501 off market	$1,375	2 / 2	1,141	3.7 mi	2026-08-27	88%
1327 Madison Ave, Detroit Lakes 56501	$1,200	2 / 1	—	4.2 mi	2026-06-23	88%
201 Holmes St E, Apt 201, Detroit Lakes 56501 off market	$1,300	2 / 2	1,064	3.7 mi	2026-09-05	86%
201 Holmes St E, Apt 305, Detroit Lakes 56501 off market	$1,240	2 / 2	959	3.7 mi	2026-09-18	84%
201 Holmes St E, Apt 308, Detroit Lakes 56501 off market	$1,240	2 / 2	959	3.7 mi	2026-08-27	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

highIncome is a vacation rental and no revenue is given. One unit is owner occupied, so there is no current tenant rent. Listing says: Currently set up as a active vacation rental - providing immediate income · 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 27096 LITTLE FLOYD LAKE RD
mediumAsking is $511,079 above the price where cash flow breaks even ($98,921) at the default scenario. Based on: Derived: price $610,000 vs. break-even $98,921
mediumShared holding tanks (not municipal sewer) are managed through the HOA, so you depend on HOA pumping and rules. Pumping costs and special assessments are unknown. Listing says: Shared holding tanks pumped by 3rd party through HOA. · AI review
mediumTaxes and unit count are unverified. A lake property can carry a high non-homestead tax bill. Based on: data: county.tax · AI review
lowHOA dues of $283 a month cut into income. Ask what they cover and whether they are rising. Based on: data: listing.hoa_monthly · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 271 days on market
Renovated, with steel roof and siding, so near-term capital needs look light. Listing says: Steel roofing and siding in 2015. · AI review
Each unit has a boat slip and parking, which supports vacation-rental appeal. Listing says: Each unit comes with a dedicated boat slip and 2 unassigned parking spaces. · AI review

Questions for the agent

Can you share 24 months of vacation-rental bookings, gross revenue, and platform statements?
What are the real property taxes, and are they different for non-homestead or rental use?
What do the HOA dues cover, how often are the tanks pumped, and have there been special assessments?
Do the resort, HOA and county allow short-term rentals, and are rental licenses or lodging taxes required?
Do the units have separate meters and heat, and what are typical electric costs?
Why has it sat 271 days, and has the price been cut?

Bottom line

A nice lake duplex, but at $610K the long-term rent numbers lose about $2,700 a month, so only proven short-term income could justify it. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. No tax record found; 2.1% of price.	$12,810
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,112
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. "completely renovated" in the description: -1 pts each	7% / 7%

Price history Realtor.com

On the market since 2026-01-07 (271 days); down $8,000 (1.3%) from the first ask of $618,000; last sold for $490,000 on 2015-03-10.

Date	Event	Price
2026-06-29	Removed	$618,000
2026-06-12	Price changed	$610,000
2026-01-07	Listed	$618,000
2015-03-10	Sold public record	$490,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$2,048
County	Becker
Parcel number	081114000

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 Detroit Lakes on rental licensing before you buy.