297 US 10
Triplex · 3 units: 2 bed / 1.5 bath ×2 and 1 bed / 1.5 bath unit split estimated · 1,674 sq ft
Motley, MN · View the listing ↗
Photos courtesy of Keller Williams Classic Realty Northwest, via Realtor.com.
- Asking price
- $179,900 3 units · $60K per unit
- Monthly cash flow
- $657 at 20% down, 7%
- Estimated rent
- $3,175/mo medium confidence
- Break-even price
- $303,350 where cash flow hits $0
First look
The headline numbers look strong: about $3,175 a month in claimed income on a $179,900 ask, and our model shows roughly $657 a month cash flow and a 10.8% cap rate. I wouldn't trust that yet. Roughly $720 of that income is storage and garage leases, which are informal and may not be legal or permitted, and the photos show a dated, lived-in building with a stained bathroom wall and a half-finished garage. It has also sat 186 days, and taxes and unit count are unverified, so get the rent roll, leases, and tax bill first. Worth a showing only if the leases, the roof and the parcel records check out.
Things to consider
- Income quality: about a quarter comes from storage and garage leases Rents of $750, $750 and $1,250 plus $720 of storage reach about $3,175 total. The storage income is less reliable and may not be permitted, so underwrite it conservatively.Listing says: “Storage leases in place for $240/MO on 3 of the 4 additional storage units”
- Unit rents are below our estimates Actual rents trail our $875 to $1,150 mid estimates, which may mean upside, or may mean poor unit condition and weaker tenants. Test it with the leases.
- Dated interiors and possible moisture damage The kitchens and bath look original and one bath shows staining. Budget for repairs and an inspection before relying on the modeled cash flow.From photo 3
- Unverified taxes and unit count We couldn't match the county parcel, so taxes, legal unit count and rental licensing are unknown. A tax surprise could cut cash flow sharply.
- Six months on market Long days on market suggest buyers balked at price, condition or income quality. It gives you negotiating room.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- 1 bed unit a: $750Listing says: Two 1 bed units rented at $750, the 4 bedroom unit rented for $1250.
- 1 bed unit b: $750Listing says: Two 1 bed units rented at $750, the 4 bedroom unit rented for $1250.
- 4 bedroom unit: $1,250Listing says: Two 1 bed units rented at $750, the 4 bedroom unit rented for $1250.
- Storage units (3 leased, combined): $240 (lease)Listing says: Storage leases in place for $240/MO on 3 of the 4 additional storage units
Condition and repairs
- doneRoofListing says: The property features a brand-new roof and three well-maintained units
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
- $179,900
- Cash to close
- $23,387
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $436/mo
- Cash-on-cash
- 22.4%
- Cap rate
- 10.8%
- DSCR
- 1.37×
Break-even
- Price that breaks even
- $246,488
- Rent that breaks even
- $2,609/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $178K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $23,387
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $168/mo
- Cash-on-cash
- 8.6%
- Cap rate
- 9.0%
- DSCR
- 1.14×
Break-even
- Price that breaks even
- $205,481
- Rent that breaks even
- $2,931/mo
Long run
- Year 30: property vs stocks
- $1.18M vs $178K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $22,087
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $502/mo
- Cash-on-cash
- 27.3%
- Cap rate
- 11.4%
- DSCR
- 1.45×
Break-even
- Price that breaks even
- $246,488
- Rent that breaks even
- $2,523/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $168K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $22,087
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $233/mo
- Cash-on-cash
- 12.7%
- Cap rate
- 9.5%
- DSCR
- 1.21×
Break-even
- Price that breaks even
- $205,481
- Rent that breaks even
- $2,835/mo
Long run
- Year 30: property vs stocks
- $1.22M vs $168K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $41,377
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $657/mo
- Cash-on-cash
- 19.1%
- Cap rate
- 10.8%
- DSCR
- 1.69×
Break-even
- Price that breaks even
- $303,350
- Rent that breaks even
- $2,322/mo
Long run
- Year 30: property vs stocks
- $1.76M vs $315K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $41,377
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $388/mo
- Cash-on-cash
- 11.3%
- Cap rate
- 9.0%
- DSCR
- 1.41×
Break-even
- Price that breaks even
- $252,883
- Rent that breaks even
- $2,608/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $315K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $39,077
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $710/mo
- Cash-on-cash
- 21.8%
- Cap rate
- 11.4%
- DSCR
- 1.79×
Break-even
- Price that breaks even
- $303,350
- Rent that breaks even
- $2,253/mo
Long run
- Year 30: property vs stocks
- $1.80M vs $297K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $39,077
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $442/mo
- Cash-on-cash
- 13.6%
- Cap rate
- 9.5%
- DSCR
- 1.49×
Break-even
- Price that breaks even
- $252,883
- Rent that breaks even
- $2,531/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $297K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $50,372
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $717/mo
- Cash-on-cash
- 17.1%
- Cap rate
- 10.8%
- DSCR
- 1.80×
Break-even
- Price that breaks even
- $323,573
- Rent that breaks even
- $2,244/mo
Long run
- Year 30: property vs stocks
- $1.83M vs $383K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,900
- Cash to close
- $50,372
- Price per unit
- $59,967
- GRM
- 4.7
Each month
- Cash flow
- $448/mo
- Cash-on-cash
- 10.7%
- Cap rate
- 9.0%
- DSCR
- 1.50×
Break-even
- Price that breaks even
- $269,742
- Rent that breaks even
- $2,521/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $383K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $47,572
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $767/mo
- Cash-on-cash
- 19.3%
- Cap rate
- 11.4%
- DSCR
- 1.90×
Break-even
- Price that breaks even
- $323,573
- Rent that breaks even
- $2,179/mo
Long run
- Year 30: property vs stocks
- $1.86M vs $362K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,900
- Cash to close
- $47,572
- Price per unit
- $56,633
- GRM
- 4.5
Each month
- Cash flow
- $498/mo
- Cash-on-cash
- 12.6%
- Cap rate
- 9.5%
- DSCR
- 1.59×
Break-even
- Price that breaks even
- $269,742
- Rent that breaks even
- $2,448/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $362K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$1,077 |
| PMI | −$101 |
| Cash flow | $436 |
| Principal paid down (equity, not cash) | $137 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$1,077 |
| PMI | −$101 |
| Cash flow | $168 |
| Principal paid down (equity, not cash) | $137 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$1,017 |
| PMI | −$96 |
| Cash flow | $502 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$1,017 |
| PMI | −$96 |
| Cash flow | $233 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$958 |
| Cash flow | $657 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$958 |
| Cash flow | $388 |
| Principal paid down (equity, not cash) | $122 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$904 |
| Cash flow | $710 |
| Principal paid down (equity, not cash) | $115 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$904 |
| Cash flow | $442 |
| Principal paid down (equity, not cash) | $115 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$898 |
| Cash flow | $717 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$898 |
| Cash flow | $448 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Net operating income | $1,615 |
| Mortgage (principal + interest) | −$848 |
| Cash flow | $767 |
| Principal paid down (equity, not cash) | $108 |
| Rent | $3,175 |
| Vacancy (6%) | −$190 |
| Collected | $2,984 |
| Property tax Listing | −$229 |
| Insurance Estimate | −$286 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$254 |
| Capital reserve (9% of rent) | −$286 |
| Property management | −$269 |
| Net operating income | $1,346 |
| Mortgage (principal + interest) | −$848 |
| Cash flow | $498 |
| Principal paid down (equity, not cash) | $108 |
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
- $410,465
- Rental profits, invested at 7%
- $1,182,645
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $161,910 of loan.
$488,791 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $178,028
$23,387 put into an index fund instead of the down payment and closing costs.
The building comes out $1,415,082 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $764,830
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $161,910 of loan.
$335,443 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $178,028
$23,387 put into an index fund instead of the down payment and closing costs.
The building comes out $997,267 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $1,252,258
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $152,910 of loan.
$510,616 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $168,132
$22,087 put into an index fund instead of the down payment and closing costs.
The building comes out $1,471,774 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $834,444
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $152,910 of loan.
$357,269 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $168,132
$22,087 put into an index fund instead of the down payment and closing costs.
The building comes out $1,053,960 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $1,349,625
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $143,920 of loan.
$536,736 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $314,972
$41,377 put into an index fund instead of the down payment and closing costs.
The building comes out $1,445,118 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $931,811
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $143,920 of loan.
$383,388 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $314,972
$41,377 put into an index fund instead of the down payment and closing costs.
The building comes out $1,027,303 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $1,409,956
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $135,920 of loan.
$555,896 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $297,464
$39,077 put into an index fund instead of the down payment and closing costs.
The building comes out $1,500,141 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $992,142
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $135,920 of loan.
$402,548 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $297,464
$39,077 put into an index fund instead of the down payment and closing costs.
The building comes out $1,082,326 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $1,417,460
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $134,925 of loan.
$558,279 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $383,445
$50,372 put into an index fund instead of the down payment and closing costs.
The building comes out $1,444,480 ahead after 30 years.
- Your equity when you sell
- $410,465
- Rental profits, invested at 7%
- $999,646
Sells for $436,665 (value up 3% a year), minus 6% selling cost ($26,200). Rent paid down $134,925 of loan.
$404,931 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $383,445
$50,372 put into an index fund instead of the down payment and closing costs.
The building comes out $1,026,665 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $1,474,021
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $127,425 of loan.
$576,243 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $362,130
$47,572 put into an index fund instead of the down payment and closing costs.
The building comes out $1,499,539 ahead after 30 years.
- Your equity when you sell
- $387,648
- Rental profits, invested at 7%
- $1,056,206
Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $127,425 of loan.
$422,895 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $362,130
$47,572 put into an index fund instead of the down payment and closing costs.
The building comes out $1,081,725 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 $1.59M, stocks $178K. The property wins.
Year 30 (loan paid off): property $1.18M, stocks $178K. The property wins.
Year 30 (loan paid off): property $1.64M, stocks $168K. The property wins.
Year 30 (loan paid off): property $1.22M, stocks $168K. The property wins.
Year 30 (loan paid off): property $1.76M, stocks $315K. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $315K. The property wins.
Year 30 (loan paid off): property $1.80M, stocks $297K. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $297K. The property wins.
Year 30 (loan paid off): property $1.83M, stocks $383K. The property wins.
Year 30 (loan paid off): property $1.41M, stocks $383K. The property wins.
Year 30 (loan paid off): property $1.86M, stocks $362K. The property wins.
Year 30 (loan paid off): property $1.44M, stocks $362K. 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.
2 bed / 1.5 bath estimate $1,150/mo · range $900–$1,375
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 956 Us, # 10, Motley 56466 off market | $995 | 2 / 1 | 0.5 mi | 84% |
| 1201 8th St NE, Staples 56479 off market | $875 | 2 / 2 | 7.2 mi | 81% |
| 220 4th St NE, Staples 56479 off market | $800 | 2 / 1 | 7.2 mi | 81% |
| 825 4th St NE, Staples 56479 off market | $625 | 2 / 1 | 7.3 mi | 80% |
| 781 W Palomino Ave, # Quad, Pillager 56473 off market | $1,295 | 2 / 1 | 7.9 mi | 78% |
| 750 Palmino Ave W, Pillager 56473 off market | $1,295 | 2 / 1 | 7.9 mi | 77% |
| 12858 Woodfern Ln, Pillager 56473 | $1,435 | 2 / 2 | 10.1 mi | 76% |
| 102 Airview Dr, Staples 56479 off market | $840 | 2 / 1 | 7.9 mi | 76% |
| 1036 Meadow View Ln, Pillager 56473 off market | $1,175 | 2 / 1 | 7.9 mi | 74% |
| 1035 Meadow View Ln, Pillager 56473 off market | $1,182 | 2 / 1 | 8.0 mi | 74% |
1 bed / 1.5 bath estimate $875/mo · range $750–$975
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 603 Autumn Ave NE, Staples 56479 off market | $680 | 1 / 1 | 7.2 mi | 81% |
| 220 4th St NE, Apt 8, Staples 56479 off market | $750 | 1 / 1 | 7.2 mi | 81% |
| 220 4th St NE, Apt A, Staples 56479 off market | $650 | 1 / 1 | 7.2 mi | 81% |
| 956 Us, # 10, Motley 56466 off market | $995 | 2 / 1 | 0.5 mi | 74% |
| 930 6th St NE, Staples 56479 off market | $680 | 1 / 1 | 7.2 mi | 73% |
| 407 7th St NE, Staples 56479 off market | $645 | 1 / 1 | 7.1 mi | 72% |
| 407 7th St NE, Apt 5, Staples 56479 off market | $645 | 1 / 1 | 7.1 mi | 72% |
| 1201 8th St NE, Staples 56479 off market | $875 | 2 / 2 | 7.2 mi | 71% |
| 220 4th St NE, Staples 56479 off market | $800 | 2 / 1 | 7.2 mi | 71% |
| 825 4th St NE, Staples 56479 off market | $625 | 2 / 1 | 7.3 mi | 71% |
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
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 297 US 10
- mediumRents are far below our estimates, but the income is padded by garage and storage leases that may not be permitted or durable. Listing says: 1 garage + 3 additional storage units for additional income! · AI review
- mediumStained, deteriorated wall beside the bathroom vanity suggests past moisture or rot. Based on: photo 3 · AI review
- mediumUnfinished garage framing and exposed materials suggest an incomplete or unpermitted conversion. Based on: photo 10 · AI review
- lowGarages are bundled into unit rents, so the unit rents are not purely living space and the garages cannot be rented separately. Listing says: The property has 2 garage units included with the apartments rent · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 186 days on market, 1 price cuts
- Owner-occupant angle with a low down payment could widen the buyer pool and lower your housing cost. Listing says: There's also an opportunity for an owner-occupant buyer · AI review
- 186 days on market gives room to negotiate the price down. Based on: data: listing.days_on_market · AI review
- Rents sit well below our estimates, so there may be upside after turnover and updates, though that depends on unit condition. Based on: data: rent_estimate · AI review
Questions for the agent
- Can I see the rent roll, signed leases and security deposits for all three units and the storage tenants?
- Are the garage and storage rentals permitted and insured, and are the storage tenants on written leases?
- What did the new roof cost, when was it done, and who did the work? Is there a permit?
- What do gas and electric cost per unit, and are they truly separately metered?
- What are the annual taxes, and is the property licensed as a three-unit rental?
- What is the heating system for each unit, and how old is it?
Bottom line
The income looks attractive on paper, but a fifth of it is storage and garage rent, and the building looks tired, so verify everything before you believe the 10.8% cap rate. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $2,752 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,430 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $255 |
| 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 1918: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-04-02 (186 days); down $40,100 (18.2%) from the first ask of $220,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $179,900 | |
| Price changed | $199,000 | |
| Listed | $220,000 |
From the listing Listing
| Listed as | triplex |
| Property tax, 2025 | $2,752 |
| County | Morrison |
| Parcel number | 410129000 |
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 Motley on rental licensing before you buy.