3121 Scotch Ln

Triplex · 3 units: 2 bed / 1.5 bath ×3 unit split estimated · 3,600 sq ft

Far off

36 photos

Photos courtesy of RE/MAX Advantage Plus, via Realtor.com.

Asking price: $599,900
Monthly cash flow: −$1,991
Estimated rent: $3,675/mo
Break-even price: $225,776

Adjust the numbers See the full breakdown

From the listing

Rare opportunity to purchase new construction DUPLEX. Minimal maintenance for years to come, fresh and appealing amenities for home owners and tenants. these units have an impressive open, modern floor plan with three bedrooms with luxurious amenities. Terrific East Side Hilltop Location. What makes our duplexes special is zero entry, 32" doors, patios, privacy fence, hardscape, quartz counter tops, soft close cabinets, walk in pantry and closets, solid paneled doors. Standard features include a 9' ceiling height, LVP flooring throughout the main floor, beautiful stainless steel kitchen appliances, and some of the widest staircases & largest windows in the market. Each unit has three bedrooms, 2.5 bathrooms, main floor laundry. Laundry appliances are included. We are proud to offer exceptional value that land lords appreciate and tenants fall in love with. Reserve your investment today. Estimated Completion: 10/31/2026.

Listing courtesy of RE/MAX Advantage Plus (Rebecca Thate). Description from Realtor.com, MLS #267041662. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a pre-completion new-build duplex, but the facts carry a unit_count of 3 and rent estimates for three units. The description and photos only support two. Each side is described as 3 bed / 2.5 bath with main-floor laundry, and 3 beds x 2 units matches the 6 beds listed. Our model rents the units as 2-beds at about $1,225 each, and that undershoots 3-beds, so check real comps for 3-bed new construction. Even so, the underwriting shows about -$1,991 a month and a 2.4% cap rate at ask, and break-even is near $226K against a $599,900 ask. At today's rates it doesn't work without much higher rents or a big price cut. Nothing is built yet (completion 10/31/2026), so the photos may be of a model or similar unit. Get the builder's contract terms, the tax estimate on the finished building, and the rental license rules before a showing.

Things to consider

Price vs. rents Our underwriting shows negative cash flow of about $1,991 a month at ask, with a break-even price near $226K. Rents would need to be far higher to close the gap.
Rents may be understated for 3-beds Our estimate treats each unit as a 2-bed at $1,225. Actual 3-bed new-build rents could be higher, so check local comps before dismissing the deal.Listing says: “Each unit has three bedrooms, 2.5 bathrooms, main floor laundry.”
Completion risk The building isn't finished. Delays or changes could affect financing, closing and when rent starts.Listing says: “Estimated Completion: 10/31/2026.”
Taxes unverified There is no county parcel match. New construction is usually assessed higher than land-only records, which would cut cash flow further.
Low maintenance, but new builds still need reserves New systems and finishes lower early repair costs, which helps hold-period returns. It doesn't fix the price problem.Listing says: “Minimal maintenance for years to come, fresh and appealing amenities for home owners and tenants.”

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 construction, minimal maintenance expectedListing says: Minimal maintenance for years to come, fresh and appealing amenities for home owners and tenants.

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: $599,900
Cash to close: $137,977
Price per unit: $199,967
GRM: 13.6

Each month

Cash flow: −$1,991/mo
Cash-on-cash: −17.3%
Cap rate: 2.4%
DSCR: 0.38×

Break-even

Price that breaks even: $225,776
Rent that breaks even: $6,228/mo

Long run

Year 30: property vs stocks: $1.37M vs $2.95M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$3,675
Vacancy (6%)	−$220
Collected	$3,454
Property tax Estimate	−$1,050
Insurance Estimate	−$300
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$294
Capital reserve (8% of rent)	−$294
Net operating income	$1,202
Mortgage (principal + interest)	−$3,193
Cash flow	−$1,991
Principal paid down (equity, not cash)	$406

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$1,368,748

Your equity when you sell: $1,368,748
Rental profits, invested at 7%: $0

Same money in stocks$2,953,694

Cash to close, invested at 7%: $1,050,316
Monthly shortfalls, invested: $1,903,378

Stocks come out $1,584,946 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 $1.37M, stocks $2.95M. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-06. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,225/mo · range $1,075–$1,550 · 7 rentals within 2.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
429 Deldona Dr Apt 2, Mankato	$1,050	2 / 1	—	2.2 mi	2026-09-21	Apartment
428 Commodore Dr Apt 7, Mankato	$1,050	2 / 1	—	2.2 mi	2026-09-14	Apartment
217 Thomas Dr E, Eagle Lake	$1,495	2 / 1.5	1,232	2.4 mi	2025-05-29	Apartment
701 S Victory Dr, Mankato	$1,199	2 / 1	—	2.4 mi	2026-08-10	Apartment
630 Maple Ln, Eagle Lake	$1,574	2 / 1.5	1,200	2.4 mi	2026-08-26	Apartment
50 Hilltop Ln, Mankato	$950	2 / 1	840	2.4 mi	2026-03-06	Apartment
920 Patriot Dr, Mankato	$1,205	2 / 1	957	2.4 mi	2026-05-15	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highNot yet built, so the photos may not show the actual units and the closing timeline is uncertain. Listing says: Estimated Completion: 10/31/2026. · AI review
highPricing is far above what the rent estimates support, with deeply negative cash flow at ask. Based on: data: underwriting.cash_flow_monthly · 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 3121 SCOTCH LN
mediumAsking is $374,124 above the price where cash flow breaks even ($225,776) at the default scenario. Based on: Derived: price $599,900 vs. break-even $225,776
mediumFacts show 3 units but the description sells a duplex. The unit count and rent estimates may be wrong. Based on: data: listing.unit_count · AI review

Opportunities

New build with 3 bed / 2.5 bath units, main-floor laundry and a zero-entry design could rent above our 2-bed estimate and keep repairs low for years. Listing says: Each unit has three bedrooms, 2.5 bathrooms, main floor laundry. · AI review
Laundry appliances are included, which helps tenant appeal. Listing says: Laundry appliances are included. · AI review

Questions for the agent

Is this a duplex or three units? Which is it per the plans and permit?
What rents is the builder projecting for each 3-bed side, and are there comparable new builds already leased nearby?
Will tenants pay utilities, and are the units separately metered for gas, electric and water?
What is the estimated property tax on the finished building, and will it be assessed as non-homestead?
What warranty does the builder give, and what happens to the deposit if completion slips past 10/31/2026?
Is the price negotiable, since it's about $196K above the break-even price?

Bottom line

Nice-looking new duplex, but at $599,900 it loses about $2,000 a month on our numbers, and it isn't built yet. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. No tax record found; 2.1% of price.	$12,598
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,600
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. base rate	8% / 8%

Price history Realtor.com

On the market since 2026-08-29 (37 days); last sold for $2,504,242 on 2025-09-12.

Date	Event	Price
2026-10-03	Listed	$599,900
2026-09-29	Removed	$308,000
2026-09-17	Relisted	$308,000
2026-09-16	Removed	$308,000
2026-08-29	Listed	$308,000
2025-09-12	Sold public record	$2,504,242

From the listing Listing

Listed as	multi-family
Property tax, 2026	$512
County	Blue Earth County
Parcel number	010914100029

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 Mankato on rental licensing before you buy.