427 16th Ave N

Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 1,617 sq ft

Far off

36 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $275,000
Monthly cash flow: −$621
Estimated rent: $1,950/mo
Break-even price: $158,251

Adjust the numbers See the full breakdown

First look

This is two houses on one parcel, sold as three units, and the listing gives almost nothing to underwrite. There are no rents, no lease terms, no utilities and no repair detail. Our numbers show about -$621 a month at the $275K ask, and break-even is near $158K, so the price is far off what these rents support. 88 days on market gives you room to negotiate. First confirm the legal unit count and rental licenses, get the rent roll and who pays what, then decide if a showing is worth it. The photos show dated kitchens and baths, so budget for updates.

Things to consider

Price is far above what the rents support At the ask, our underwriting shows negative monthly cash flow, and break-even is about $117K lower. Only a large price cut or much higher real rents would work.
Unit count and legality are unverified Two houses on one parcel may not be licensed as three units. Lender, insurance and rent income all depend on it.Listing says: “Two houses, three total units, all on one parcel”
Income is undocumented There are no stated rents. Our estimates (about $975 per 2-bed) are a guess until you see leases.
Dated interiors mean capital needs Kitchens and some baths look original, so budget for updates and reserves despite the 'many updates' claim.From photo 8
Negotiating leverage from time on market 88 days listed suggests the market isn't accepting this price.

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

doneUnspecified updates 'throughout the property'; no details on what or whenListing says: Many updates have been done throughout the property, making this a must-see investment opportunity!

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: $275,000
Cash to close: $63,250
Price per unit: $137,500
GRM: 11.8

Each month

Cash flow: −$621/mo
Cash-on-cash: −11.8%
Cap rate: 3.7%
DSCR: 0.58×

Break-even

Price that breaks even: $158,251
Rent that breaks even: $2,757/mo

Long run

Year 30: property vs stocks: $643K vs $907K
Cash flow turns positive: year 23

Monthly

Monthly breakdown

Rent	$1,950
Vacancy (6%)	−$117
Collected	$1,833
Property tax Listing	−$227
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$156
Capital reserve (9% of rent)	−$176
Net operating income	$842
Mortgage (principal + interest)	−$1,464
Cash flow	−$621
Principal paid down (equity, not cash)	$186

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$643,497

Your equity when you sell: $627,447
Rental profits, invested at 7%: $16,050

Same money in stocks$907,180

Cash to close, invested at 7%: $481,475
Monthly shortfalls, invested: $425,705

Stocks come out $263,683 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 $643K, stocks $907K. 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 $975/mo · range $950–$1,000 · 22 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1423 6th St N, Saint Cloud	$950	2 / 1	—	0.2 mi	2026-05-06	Apartment
616 10th Ave N, Saint Cloud	$795	2 / 1	725	0.4 mi	2026-02-05	Apartment
421 8th Ave N, Saint Cloud	$875	2 / 1	—	0.5 mi	2026-01-09	Apartment
825 9th Ave S, Saint Cloud	$1,000	2 / 1	958	0.9 mi	2025-01-03	Apartment
333 4th Ave S, Saint Cloud	$800	2 / 1	—	1.1 mi	2026-08-18	Apartment
226 3rd Ave NE Unit 2, Saint Cloud	$892	2 / 1	850	1.1 mi	2026-10-02	Apartment
28 3rd Ave NE, Saint Cloud	$975	2 / 1	800	1.1 mi	2025-09-26	Apartment
344 33rd Ave N, Saint Cloud	$950	2 / 1	750	1.1 mi	2026-05-01	Apartment
410 33rd Ave N, Saint Cloud	$900	2 / 1	—	1.1 mi	2026-02-19	Apartment
1310 15th St N, Saint Cloud	$980	2 / 1	875	1.1 mi	2025-04-10	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

highThree units across two houses on one parcel: legal status, licensing and separate utilities are unclear, and our county match failed Listing says: Two houses, three total units, all on one parcel · AI review
highNo rents, lease terms or expenses given; 'long-term tenants' could mean below-market rents Listing says: Great income-generating rental property with long-term tenants! · 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 427 16TH AVE N
mediumAsking is $116,749 above the price where cash flow breaks even ($158,251) at the default scenario. Based on: Derived: price $275,000 vs. break-even $158,251
mediumUpdates are claimed but not specified, and the photos show original-looking kitchens and baths Based on: photo 8 · AI review
mediumRoughly 1910 house with radiator heat visible; likely older boiler and possibly old wiring Based on: photo 3 · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 88 days on market, 2 price cuts
Long-term tenants may mean low turnover, and rents below market could rise after a verified rent roll (no rent cap) Listing says: Great income-generating rental property with long-term tenants! · AI review
88 days on market and a price far above break-even give room to negotiate hard Based on: data: listing.days_on_market · AI review

Questions for the agent

What are the current rents and lease end dates for each of the three units?
Is the smaller house a licensed rental, and does the city recognize three units on this parcel?
Who pays heat, water, electric and trash, and are there separate meters and heating systems for each unit?
What exactly were the 'many updates', and when were they done (roof, boiler, wiring, plumbing)?
Can I see the last two years of taxes and expenses?
Why has it been listed 88 days, and has the price changed?

Bottom line

A vague three-unit listing priced about $117K above break-even; get the rent roll and the legal unit count before spending time on it. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2024. 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.	$2,726
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,425
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 1910: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-04-27 (161 days); down $25,000 (8.3%) from the first ask of $300,000; last sold for $41,000 on 2014-04-10.

Date	Event	Price
2026-09-21	Price changed	$275,000
2026-08-27	Price changed	$280,000
2026-07-09	Listed	$290,000
2026-07-09	Removed	$300,000
2026-07-06	Listed	$300,000
2026-07-01	Removed	$300,000
2026-06-29	Removed	$330,000
2026-04-27	Listed	$300,000
2014-04-10	Sold public record	$41,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2024	$2,726
County	Stearns
Parcel number	82528120000

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 Saint Cloud on rental licensing before you buy.