418 11th Ave SE

Duplex · 2 units: 2 bed / 1.5 bath and 1 bed / 1.5 bath unit split estimated · 1,424 sq ft

Overpriced

14 photos

Photos, via Realtor.com.

Asking price: $249,900
Monthly cash flow: −$393
Estimated rent: $2,150/mo
Break-even price: $176,117

Adjust the numbers See the full breakdown

First look

This is a thin listing: three sentences, no rents, no lease info, no utilities, no systems. The numbers are the problem. At $249,900 our model shows about -$393 a month and a 4.5% cap, and break-even is near $176,100, so it only works as an owner-occupant deal or after a big price cut. 82 days on market suggests room to negotiate. Photos show dated but clean finishes, and the 1915 build date means checking the foundation, wiring and heat before anything else. Get the rent roll, tax bill and rental license status first; it's worth a showing only if you plan to live in one unit and the price comes down.

Things to consider

Price is far above what the rents support Our model shows negative cash flow of about $393 a month at asking. Cash flow only works at a much lower price or with owner-occupancy.
Rents and lease status are unknown Without a rent roll you can't tell what the in-place income is. Our estimates are $1,025-$1,125 per unit.
Unit count and taxes are unverified We couldn't match a county parcel, so confirm it is a legal duplex and get the real tax bill.
1915 building with unknown systems Older homes often have aging wiring, heating and foundation issues that can dwarf the cosmetic updates shown.
House-hack angle is the best use Living in the vacant unit lowers your carrying cost and may qualify for owner-occupant financing.Listing says: “allowing the opportunity to live in one apartment and rent out the other!”

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

doneFresh paint and new carpet in Unit 2Listing says: Unit 2 has fresh paint and new carpet.

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: $249,900
Cash to close: $57,477
Price per unit: $124,950
GRM: 9.7

Each month

Cash flow: −$393/mo
Cash-on-cash: −8.2%
Cap rate: 4.5%
DSCR: 0.70×

Break-even

Price that breaks even: $176,117
Rent that breaks even: $2,660/mo

Long run

Year 30: property vs stocks: $652K vs $635K
Cash flow turns positive: year 15

Monthly

Monthly breakdown

Rent	$2,150
Vacancy (6%)	−$129
Collected	$2,021
Property tax Listing	−$290
Insurance Estimate	−$198
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$172
Capital reserve (9% of rent)	−$194
Net operating income	$937
Mortgage (principal + interest)	−$1,330
Cash flow	−$393
Principal paid down (equity, not cash)	$169

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$651,803

Your equity when you sell: $570,179
Rental profits, invested at 7%: $81,624

Same money in stocks$634,891

Cash to close, invested at 7%: $437,530
Monthly shortfalls, invested: $197,361

The building comes out $16,912 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 $652K, stocks $635K. The property wins.

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 $1,125/mo · range $975–$1,425 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
517 5th Ave SE, Rochester	$1,350	2 / 1	1,074	0.4 mi	2026-07-31	Apartment
322 6th St SE Apt 1, Rochester	$1,100	2 / 1	800	0.5 mi	—	Apartment
1614 8 1/2 St SE Apt C, Rochester	$1,100	2 / 1	795	0.5 mi	—	Duplex triplex
1532 10th St SE, Rochester	$945	2 / 1	750	0.6 mi	2026-01-16	Apartment
1609 10th St SE, Rochester	$945	2 / 1	800	0.6 mi	2026-06-15	Apartment
211 1st St NE, Rochester	$1,445	2 / 2	868	0.7 mi	2025-07-10	Apartment

1 bed estimate $1,025/mo · range $875–$1,325 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
123 11th Ave SE Apt 5, Rochester	$885	1 / 1	800	0.2 mi	—	Apartment
725 7th Ave SE Apt 2, Rochester	$825	1 / 1	838	0.4 mi	—	Apartment
510 3rd Ave SE, Rochester	$1,102	1 / 1	655	0.5 mi	2026-09-24	Apartment
519 E Center St, Rochester	$1,250	1 / 1	667	0.5 mi	2026-08-12	Apartment
1532 10th St SE, Rochester	$845	1 / 1	650	0.6 mi	2026-01-16	Apartment
211 1st St NE, Rochester	$1,345	1 / 1	602	0.7 mi	2025-07-10	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

highNo rents, lease terms or expenses given. Income can't be verified. Based on: data: rent_estimate · 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 418 11TH AVE SE
mediumUnit 2 is vacant, so there's no income proof from that unit and you carry vacancy until it's leased. Listing says: Unit 2 will is vacant, allowing the opportunity to live in one apartment and rent out the other! · AI review
low82 days on market at this price suggests the market isn't accepting the ask. Based on: data: listing.days_on_market · AI review

Opportunities

Owner-occupy one unit and rent the other to cut your housing cost. Listing says: allowing the opportunity to live in one apartment and rent out the other! · AI review
Detached garage and large rear lot give parking and possible storage or added value. Based on: photo 2 · AI review

Questions for the agent

What is Unit 1 renting for, what are the lease terms, and when does it end?
What is the actual unit mix (beds and baths per unit)? Listing says 3 bed/3 bath total.
Who pays heat, water, electric and trash, and are there separate meters and furnaces?
What are the annual taxes, and is the property licensed as a rental in Rochester?
How old are the roof, furnace, water heaters and electrical panels?
Why has it sat 82 days, and has the seller entertained lower offers?

Bottom line

Pricing is about $74K above where the numbers break even, so only consider it as an owner-occupant purchase at a much lower price. 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.	$3,486
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,372
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 1915: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-02-17 (230 days, relisted 1×); down $10,000 (3.8%) from the first ask of $259,900; last sold for $149,000 on 2016-07-22.

Date	Event	Price
2026-07-15	Listed	$249,900
2026-07-01	Removed	$249,900
2026-05-08	Price changed	$249,900
2026-02-17	Listed	$259,900
2016-07-22	Sold	$149,000
2016-06-22	Listed	$149,000
2016-06-21	Listed	$149,000
2016-01-01	Sold public record	$149,000
2015-01-01	Sold public record	$99,000
2013-12-27	Sold	$99,000
2013-11-19	Price changed	$99,900
2013-10-09	Removed	$109,900
2012-04-26	Listed	$109,900
2010-06-24	Sold public record	$125,000
2007-06-18	Sold public record	$107,892
2000-01-14	Sold	$84,900
1999-08-13	Listed	$84,900
1991-03-01	Sold public record	$55,000

From the listing Listing

Listed as	duplex other
Property tax, 2025	$3,486
County	Olmsted
Parcel number	640112000997

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 Rochester on rental licensing before you buy.