409 Meadow Dr
Mcgregor, MN · View the listing ↗
Photos courtesy of Exp Realty - Broker, via Realtor.com.
Needs more info before these numbers mean much. No reliable rent estimate: too few comparable rentals close by, and no RentCast estimate.
No rent estimate yet, so the numbers can't be run. Run it yourself in the calculator →
First look
The listing is three sentences of sales copy with no rents, no unit mix and no expenses, so "incredible cash flow from day 1" is unsupported. The facts show 5 beds and 4 baths across 4 units on a 1974 building, which means several units are probably 1-bed or studio, and the address didn't match a county parcel. The photos show one updated-looking upstairs unit and a dated, wood-paneled lower level that looks like a different standard. At 132 days on market and with the agent also the owner, ask for the rent roll, leases and 12 months of expenses before spending time on a showing. Without rent data I can't say if $275K works at today's rates.
Things to consider
- No income data at all Without rents and expenses you can't tell whether $275K cash flows at current rates. Treat the cash flow claim as unproven until you see leases.Listing says: “offers incredible cash flow from day 1”
- Mixed unit quality Photos show one updated-feeling unit and others that look dated. Rents will vary, and the dated units may need money before they can be raised.From photo 8
- Unit count and legality unverified The county record didn't match, so confirm four legal units, permits and any rental license before relying on the income.
- Seller is the agent The same person sets the price, the story and the numbers. Verify everything independently and ask for documents.Listing says: “Listing agent is owner.”
- Long time on market 132 days suggests the price or the numbers aren't convincing buyers. That gives negotiating room, but also ask what's wrong.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
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.
Red flags and opportunities
Watch for
- highCash flow claim with no rents, leases or expenses given Listing says: offers incredible cash flow from day 1 · 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 409 MEADOW DR
- mediumListing agent is the owner, so there is no independent party on the numbers Listing says: Listing agent is owner. · AI review
- mediumUnit count and layout unverified; 5 beds across 4 units suggests very small units Based on: data: listing.beds · AI review
- mediumLower-level unit looks dated with wood paneling, drop ceiling and a lower-level kitchen; legality and egress unclear Based on: photo 8 · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 132 days on market, 1 price cuts
- Value-add is claimed, and the lower-level units look dated compared with the updated unit, so a refresh could lift rents if the market supports it Based on: photo 7 · AI review
- 132 days on market gives room to negotiate, especially with a seller-agent Based on: data: listing.days_on_market · AI review
Questions for the agent
- Can I see the rent roll, leases and security deposits for all four units?
- What are the trailing-12 expenses: taxes, insurance, water/sewer, trash, repairs?
- What is the bed/bath layout of each unit, and are all four legal, licensed rentals?
- Who pays heat, electric and water, and are they separately metered?
- What is the age of the roof, furnace(s), water heaters and electrical panels?
- Why has it sat 132 days, and have there been any price changes or offers?
Bottom line
A bare-bones listing promising cash flow with nothing to back it up; get the rent roll and expenses before deciding it is worth a visit. AI-assisted summary
What the records say
Where each number comes from
Price history Realtor.com
On the market since 2026-05-26 (132 days); down $30,000 (9.8%) from the first ask of $305,000; last sold for $240,000 on 2022-09-30.
| Date | Event | Price |
|---|---|---|
| Price changed | $275,000 | |
| Price changed | $295,000 | |
| Removed | $289,900 | |
| Relisted | $305,000 | |
| Removed | — | |
| Listed | $305,000 | |
| Sold | $240,000 | |
| Listed | $249,900 |
From the listing Listing
| Listed as | four plex |
| Property tax, 2026 | $1,374 |
| County | Aitkin |
| Parcel number | 140043005 |
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 Mcgregor on rental licensing before you buy.