317 W River St

Duplex · 2 units: 2 bed / 1 bath ×2 · 2,158 sq ft

Cash flows

30 photos

Photos courtesy of Keller Williams Realty, via Realtor.com.

Asking price: $290,000
Monthly cash flow: $445
Estimated rent: $3,400/mo
Break-even price: $373,554

Adjust the numbers See the full breakdown

From the listing

This property is situated in an attractive location just blocks away from West Bridge Park, local retail and restaurants and all that Monticello has to offer. The upper unit has 2 bedrooms, 1 bathroom, its own clothes washer and dryer and separate private entrance and parking. The Lower Unit features numerous updates, 2 bedrooms, 1 bathroom, separate washer and dryer, large kitchen and storage area. Come see all this wonderful property has to offer. Upper Unit is currently leased on a month to month basis while the Owners occupy The Lower Unit. Here is a great opportunity to start your real estate investment portfolio or supplement with a performing asset.

Listing courtesy of Keller Williams Realty (Ryan C Garrett- KW Real Estate Planner). Description from Realtor.com, MLS #7129718. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2-unit, 2-bed/2-bed up/down in Monticello where the seller lives downstairs, so you'd be buying a half-vacant building: the lower unit has no tenant or rent history. The listing gives no rent for the upper unit, and it is month-to-month. Our model shows about $445/mo cash flow and an 8.2% cap at asking on mid estimates of $1,700 per unit, but taxes are unverified because we couldn't match a parcel. Those numbers lean on a rent for the owner's unit that nobody is paying yet. Photos show a 1900 house with mixed-age finishes and a dated kitchen. Get the upper rent and lease, actual taxes, the heat setup and a rental license check before deciding on a showing; it looks worth one if those hold up.

Things to consider

Income depends on an unrented unit The owners live in the lower unit, so the modeled cash flow assumes a tenant at market rent that you'd have to find. Expect vacancy and turnover costs early.Listing says: “while the Owners occupy The Lower Unit”
Upper rent unknown and month-to-month Without a stated rent, you can't compare the upper to our $1,700 mid estimate, and the tenant can leave on short notice.Listing says: “Upper Unit is currently leased on a month to month basis”
Taxes unverified The tax figure drives cash flow, and an investor may pay more than the owner's homestead bill.
1900 build with unknown systems Heat, electrical and plumbing age aren't shown and could mean large capex on a house this old.
Dated kitchen and bath finishes Cosmetic updates may be needed to hit the higher end of the rent range.From photo 8

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

Upper: $0 (month-to-month)Listing says: Upper Unit is currently leased on a month to month basis while the Owners occupy The Lower Unit.

Condition and repairs

doneLower unit updates (details unspecified)Listing says: The Lower Unit features numerous updates, 2 bedrooms, 1 bathroom, separate washer and dryer

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: $290,000
Cash to close: $66,700
Price per unit: $145,000
GRM: 7.1

Each month

Cash flow: $445/mo
Cash-on-cash: 8.0%
Cap rate: 8.2%
DSCR: 1.29×

Break-even

Price that breaks even: $373,554
Rent that breaks even: $2,822/mo

Long run

Year 30: property vs stocks: $1.95M vs $508K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,400
Vacancy (6%)	−$204
Collected	$3,196
Property tax Listing	−$185
Insurance Estimate	−$214
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$272
Capital reserve (9% of rent)	−$306
Net operating income	$1,988
Mortgage (principal + interest)	−$1,544
Cash flow	$445
Principal paid down (equity, not cash)	$196

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$1,946,731

Your equity when you sell: $661,672
Rental profits, invested at 7%: $1,285,059

Same money in stocks$507,737

Cash to close, invested at 7%: $507,737

The building comes out $1,438,994 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 $1.95M, stocks $508K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.

2 bed / 1 bath estimate $1,700/mo · range $1,425–$1,975

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
11 Walnut St, Monticello 55362 off market	$1,275	2 / 1	850	0.1 mi	2026-07-09	85%
725 Minnesota St, Monticello 55362	$1,300	2 / 1	854	0.6 mi	2024-04-12	85%
139 Riverview Dr, Monticello 55362	$1,200	2 / 1	900	1.6 mi	2026-01-01	84%
610 Martin Ave, Unit 2A, Big Lake 55309 off market	$1,795	2 / 1	1,100	3.3 mi	2025-01-17	83%
10565 Tee Box Trl, Monticello 55362 off market	$2,170	2 / 2	1,136	0.9 mi	2024-05-25	82%
301 E 3rd St, Monticello 55362 off market	$1,675	2 / 1	1,800	0.4 mi	2026-06-16	81%
301 303 E 4th St, Monticello 55362 off market	$1,445	3 / 1	1,250	0.4 mi	2025-11-07	80%
16940 Marketplace Dr, Big Lake 55309 off market	$1,425	2 / 1	948	5.1 mi	2026-05-17	79%
313 W 7th St, Monticello 55362 off market	$1,600	3 / 1.5	1,365	0.5 mi	2026-03-27	79%
220 Leighton Dr, Apt 3, Big Lake 55309 off market	$1,755	2 / 1	—	2.5 mi	2026-04-26	76%

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

highOwner-occupied lower unit means no rent history and a vacant unit at closing Listing says: while the Owners occupy The Lower Unit · 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 317 RIVER ST W
mediumTaxes, unit count and rental license can't be verified from county or city data Based on: data: county.tax · AI review
mediumUpper rent not disclosed, so income is unproven Listing says: Upper Unit is currently leased on a month to month basis · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "offer. Upper Unit is currently leased on a month to month basis while the Owners occupy The Lower Unit."

Opportunities

Both units have their own washer/dryer and the upper has a separate entrance and parking, which helps with tenant appeal Listing says: its own clothes washer and dryer and separate private entrance and parking · AI review
No rent cap in Monticello, so rents can follow the market Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What does the upper tenant pay, and when did the lease start?
How are heat, water and electric metered for each unit? Separate meters?
What are the actual annual taxes, and is the owner's homestead discount in the number?
Is the property licensed as a rental in Monticello, and is it legally a duplex?
What were the 'numerous updates' in the lower unit, and when were roof, furnace and water heater replaced?
Is the lower unit going to be delivered vacant, and can the owners move out on a set date?

Bottom line

A small up/down that looks workable on paper, but half the income is an owner's unit with no rent history and the upper tenant can walk. 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.	$2,224
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,573
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. built 1900: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-06-28 (99 days, relisted 1×); down $9,900 (3.3%) from the first ask of $299,900; last sold for $215,900 on 2020-09-24.

Date	Event	Price
2026-09-03	Listed	$290,000
2026-06-28	Removed	$299,900
2020-09-24	Sold public record	$215,900
2020-08-14	Sold	$215,900
2004-01-09	Sold public record	$175,000
2001-12-20	Sold public record	$125,000
1995-11-29	Sold public record	$75,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2025	$2,224
County	Wright
Parcel number	155010055030

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 Monticello on rental licensing before you buy.