400 Riverside Ave
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,888 sq ft
Park Rapids, MN · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $239,900 2 units · $120K per unit
- Monthly cash flow
- −$202 at 20% down, 7%
- Estimated rent
- $2,350/mo medium confidence
- Break-even price
- $202,035 where cash flow hits $0
First look
This is a big 1901 duplex in Park Rapids, asking $239,900, with 6 beds and 2,888 sq ft. Our underwriting at asking price loses about $202 a month with a 5.4% cap rate, and break-even price is about $202K, so it needs a roughly $38K cut to work. The description gives no rents, no lease status and no utilities, and it's been on the market 70 days. The interiors look dated but livable, with paneling, older cabinets and newer vinyl plank flooring. Get the rent roll, the heat source and who pays it, and the actual tax bill before a showing. It is worth a look only if the price comes down or the real rents beat our $1,175 estimate per unit.
Things to consider
- Price is above what the numbers support Our underwriting shows negative cash flow of about $202 a month at asking. You would need a price near $202K to break even.
- Rents are unknown The description gives no rents or lease terms. Our estimate is about $1,175 per unit, so verify against actual leases before relying on it.
- Dated interiors mean capex Kitchens, baths and paneling look original, so budget for updates before pushing rents. Tenant turnover could add cost.From photo 5
- Unverified taxes and unit count No parcel match means the tax bill is a guess, and an investor may pay more than the current owner.
- Old building with unknown systems A 1901 build can hide old wiring, plumbing and a foundation that needs work. Get an inspection.
- Riverside location may bring flood or dam-related questions Check flood zone status and insurance cost, since the property sits near the river and hydro dam.Listing says: “overlooking the river and the hydro dam”
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
- doneNeck deck installed on the back of the upper unitListing says: Neck deck installed on the back of the upper unit overlooking the river and the hydro dam.
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
- $239,900
- Cash to close
- $31,187
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$496/mo
- Cash-on-cash
- −19.1%
- Cap rate
- 5.4%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $164,165
- Rent that breaks even
- $2,994/mo
Long run
- Year 30: property vs stocks
- $681K vs $436K
- Cash flow turns positive
- year 13
The deal
- Price
- $239,900
- Cash to close
- $31,187
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$695/mo
- Cash-on-cash
- −26.7%
- Cap rate
- 4.4%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $133,813
- Rent that breaks even
- $3,364/mo
Long run
- Year 30: property vs stocks
- $574K vs $639K
- Cash flow turns positive
- year 21
The deal
- Price
- $229,900
- Cash to close
- $29,887
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$431/mo
- Cash-on-cash
- −17.3%
- Cap rate
- 5.6%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $164,165
- Rent that breaks even
- $2,909/mo
Long run
- Year 30: property vs stocks
- $685K vs $384K
- Cash flow turns positive
- year 11
The deal
- Price
- $229,900
- Cash to close
- $29,887
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$629/mo
- Cash-on-cash
- −25.3%
- Cap rate
- 4.6%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $133,813
- Rent that breaks even
- $3,268/mo
Long run
- Year 30: property vs stocks
- $562K vs $570K
- Cash flow turns positive
- year 19
The deal
- Price
- $239,900
- Cash to close
- $55,177
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$202/mo
- Cash-on-cash
- −4.4%
- Cap rate
- 5.4%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $202,035
- Rent that breaks even
- $2,612/mo
Long run
- Year 30: property vs stocks
- $764K vs $479K
- Cash flow turns positive
- year 8
The deal
- Price
- $239,900
- Cash to close
- $55,177
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$400/mo
- Cash-on-cash
- −8.7%
- Cap rate
- 4.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $164,682
- Rent that breaks even
- $2,934/mo
Long run
- Year 30: property vs stocks
- $610K vs $634K
- Cash flow turns positive
- year 16
The deal
- Price
- $229,900
- Cash to close
- $52,877
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$148/mo
- Cash-on-cash
- −3.4%
- Cap rate
- 5.6%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $202,035
- Rent that breaks even
- $2,543/mo
Long run
- Year 30: property vs stocks
- $778K vs $438K
- Cash flow turns positive
- year 6
The deal
- Price
- $229,900
- Cash to close
- $52,877
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$347/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $164,682
- Rent that breaks even
- $2,856/mo
Long run
- Year 30: property vs stocks
- $604K vs $573K
- Cash flow turns positive
- year 15
The deal
- Price
- $239,900
- Cash to close
- $67,172
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$122/mo
- Cash-on-cash
- −2.2%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $215,504
- Rent that breaks even
- $2,508/mo
Long run
- Year 30: property vs stocks
- $821K vs $536K
- Cash flow turns positive
- year 6
The deal
- Price
- $239,900
- Cash to close
- $67,172
- Price per unit
- $119,950
- GRM
- 8.5
Each month
- Cash flow
- −$321/mo
- Cash-on-cash
- −5.7%
- Cap rate
- 4.4%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $175,661
- Rent that breaks even
- $2,818/mo
Long run
- Year 30: property vs stocks
- $636K vs $661K
- Cash flow turns positive
- year 14
The deal
- Price
- $229,900
- Cash to close
- $64,372
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$72/mo
- Cash-on-cash
- −1.3%
- Cap rate
- 5.6%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $215,504
- Rent that breaks even
- $2,443/mo
Long run
- Year 30: property vs stocks
- $840K vs $501K
- Cash flow turns positive
- year 4
The deal
- Price
- $229,900
- Cash to close
- $64,372
- Price per unit
- $114,950
- GRM
- 8.2
Each month
- Cash flow
- −$271/mo
- Cash-on-cash
- −5.0%
- Cap rate
- 4.6%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $175,661
- Rent that breaks even
- $2,745/mo
Long run
- Year 30: property vs stocks
- $634K vs $604K
- Cash flow turns positive
- year 12
Monthly
Monthly breakdown
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,436 |
| PMI | −$135 |
| Cash flow | −$496 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,436 |
| PMI | −$135 |
| Cash flow | −$695 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,377 |
| PMI | −$129 |
| Cash flow | −$431 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,377 |
| PMI | −$129 |
| Cash flow | −$629 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,277 |
| Cash flow | −$202 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,277 |
| Cash flow | −$400 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,224 |
| Cash flow | −$148 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,224 |
| Cash flow | −$347 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | −$122 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | −$321 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Net operating income | $1,075 |
| Mortgage (principal + interest) | −$1,147 |
| Cash flow | −$72 |
| Principal paid down (equity, not cash) | $146 |
| Rent | $2,350 |
| Vacancy (6%) | −$141 |
| Collected | $2,209 |
| Property tax Listing | −$273 |
| Insurance Estimate | −$231 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$188 |
| Capital reserve (9% of rent) | −$212 |
| Property management | −$199 |
| Net operating income | $877 |
| Mortgage (principal + interest) | −$1,147 |
| Cash flow | −$271 |
| Principal paid down (equity, not cash) | $146 |
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
- $547,362
- Rental profits, invested at 7%
- $133,199
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $215,910 of loan.
$88,453 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $237,403
- Monthly shortfalls, invested
- $198,173
$31,187 put into an index fund instead of the down payment and closing costs.
$33,807 you'd have paid in while the building lost money, invested instead.
The building comes out $244,985 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $26,992
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $215,910 of loan.
$22,162 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $237,403
- Monthly shortfalls, invested
- $401,215
$31,187 put into an index fund instead of the down payment and closing costs.
$81,018 you'd have paid in while the building lost money, invested instead.
Stocks come out $64,264 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $160,762
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $206,910 of loan.
$102,297 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $227,507
- Monthly shortfalls, invested
- $156,124
$29,887 put into an index fund instead of the down payment and closing costs.
$25,826 you'd have paid in while the building lost money, invested instead.
The building comes out $301,677 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $37,822
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $206,910 of loan.
$29,804 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $227,507
- Monthly shortfalls, invested
- $342,432
$29,887 put into an index fund instead of the down payment and closing costs.
$66,834 you'd have paid in while the building lost money, invested instead.
Stocks come out $7,571 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $216,888
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $191,920 of loan.
$127,992 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $420,021
- Monthly shortfalls, invested
- $59,191
$55,177 put into an index fund instead of the down payment and closing costs.
$9,411 you'd have paid in while the building lost money, invested instead.
The building comes out $285,038 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $62,145
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $191,920 of loan.
$45,426 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $420,021
- Monthly shortfalls, invested
- $213,697
$55,177 put into an index fund instead of the down payment and closing costs.
$40,347 you'd have paid in while the building lost money, invested instead.
Stocks come out $24,211 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $253,109
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $183,920 of loan.
$143,121 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,513
- Monthly shortfalls, invested
- $35,081
$52,877 put into an index fund instead of the down payment and closing costs.
$5,379 you'd have paid in while the building lost money, invested instead.
The building comes out $340,061 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $78,998
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $183,920 of loan.
$55,297 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,513
- Monthly shortfalls, invested
- $170,219
$52,877 put into an index fund instead of the down payment and closing costs.
$31,057 you'd have paid in while the building lost money, invested instead.
The building comes out $30,812 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $273,282
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $179,925 of loan.
$151,095 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $511,330
- Monthly shortfalls, invested
- $25,126
$67,172 put into an index fund instead of the down payment and closing costs.
$3,785 you'd have paid in while the building lost money, invested instead.
The building comes out $284,188 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $88,604
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $179,925 of loan.
$60,642 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $511,330
- Monthly shortfalls, invested
- $149,697
$67,172 put into an index fund instead of the down payment and closing costs.
$26,833 you'd have paid in while the building lost money, invested instead.
Stocks come out $25,060 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $315,337
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $172,425 of loan.
$166,821 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,016
- Monthly shortfalls, invested
- $10,621
$64,372 put into an index fund instead of the down payment and closing costs.
$1,548 you'd have paid in while the building lost money, invested instead.
The building comes out $339,246 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $109,011
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $172,425 of loan.
$71,426 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,016
- Monthly shortfalls, invested
- $113,543
$64,372 put into an index fund instead of the down payment and closing costs.
$19,654 you'd have paid in while the building lost money, invested instead.
The building comes out $29,998 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 $681K, stocks $436K. The property wins.
Year 30 (loan paid off): property $574K, stocks $639K. Stocks win.
Year 30 (loan paid off): property $685K, stocks $384K. The property wins.
Year 30 (loan paid off): property $562K, stocks $570K. Stocks win.
Year 30 (loan paid off): property $764K, stocks $479K. The property wins.
Year 30 (loan paid off): property $610K, stocks $634K. Stocks win.
Year 30 (loan paid off): property $778K, stocks $438K. The property wins.
Year 30 (loan paid off): property $604K, stocks $573K. The property wins.
Year 30 (loan paid off): property $821K, stocks $536K. The property wins.
Year 30 (loan paid off): property $636K, stocks $661K. Stocks win.
Year 30 (loan paid off): property $840K, stocks $501K. The property wins.
Year 30 (loan paid off): property $634K, stocks $604K. 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 $1,175/mo · range $925–$1,425
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 313 1st St E, Apt 8, Park Rapids 56470 | $825 | 2 / 1 | 0.3 mi | 84% |
| 313 1st St E, Apt 1, Park Rapids 56470 off market | $850 | 2 / 1 | 0.3 mi | 84% |
| 203 Helten Ave, Park Rapids 56470 | $685 | 2 / 1 | 0.8 mi | 83% |
| 606 Pleasant Ave S, Park Rapids 56470 off market | $1,100 | 3 / 1 | 0.4 mi | 79% |
| 302 Pearle St, Park Rapids 56470 | $1,200 | 3 / 1 | 0.7 mi | 79% |
| 113 3rd St E, Park Rapids 56470 off market | $1,400 | 4 / 1 | 0.2 mi | 76% |
| 608-B Pleasant Ave S, Park Rapids 56470 off market | $400 | 1 / 1 | 0.4 mi | 74% |
| 210 Park Ave, Park Rapids 56470 | $1,020 | 2 / 1 | 0.4 mi | 73% |
| 200 Eastern Ave S, Apt 201, Park Rapids 56470 off market | $980 | 2 / 1 | 0.6 mi | 72% |
| 200 Eastern Ave S, Apt 203, Park Rapids 56470 off market | $960 | 2 / 1 | 0.6 mi | 72% |
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 rents, lease status or tenant info given. Income is unverified. Listing says: Great long term potential for a new landlord to take ownership. · 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 400 RIVERSIDE AVE
- mediumTaxes and unit count unverified because no county parcel was matched. Confirm it is a legal duplex. Based on: data: county.tax · AI review
- mediumListed 70 days at a price that loses money at our underwriting. Based on: data: listing.days_on_market · AI review
- mediumBuilt 1901 with likely aging systems. Heat type unknown. Based on: data: listing.year_built · AI review
Opportunities
- Each unit gets a detached garage use and separate entrances, which helps with tenant privacy and rentability. Listing says: Also includes a detached garage for use of each tenant. · AI review
- Price is negotiable given time on market. Break-even is about $202K. Based on: data: underwriting.break_even_price · AI review
- Two extra large units with a river view deck may command higher rents than our estimate. Listing says: Wonderful location with 2 extra large rental units with separate entrances. · AI review
Questions for the agent
- What are the current rents, lease terms and move-in dates for each unit?
- What is the heat source, and are the units separately metered for gas and electric?
- What are the real property taxes and any special assessments?
- Is it licensed and legal as a duplex in Park Rapids?
- What are the ages of the roof, furnace and water heaters, and the electrical panel type?
- Is the river-side deck permitted, and was it built to code? Any flood zone issues?
Bottom line
Big old duplex with dated but usable interiors that loses money at $239,900, so it needs a lower price and proof of rents. 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. | $3,276 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,774 |
| 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 1901: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-07-27 (70 days).
| Date | Event | Price |
|---|---|---|
| Listed | $239,900 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2026 | $3,276 |
| County | Hubbard |
| Parcel number | 322504200 |
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 Park Rapids on rental licensing before you buy.