Twin Cities suburbs › Inver Grove Heights

4376 Upper 71st St E

Triplex · 3 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath unit split estimated · 2,560 sq ft

Inver Grove Heights, MN · View the listing ↗

22 photos

Photos, via Realtor.com.

Asking price: $465,000
Monthly cash flow: −$237
Estimated rent: $4,125/mo
Break-even price: $420,470

Adjust the numbers See the full breakdown

From the listing

Rare suburban triplex in a premier Inver Grove Heights location - an exceptional find for investors seeking stable, long-term cash flow outside the city core. This well-maintained 3-unit property sits on a spacious lot in one of the south metro's most livable communities, just minutes from the Mississippi River and surrounded by an impressive array of recreational amenities. Residents enjoy walkable access to a brand-new city park featuring a playground and splash pad, Swing Bridge Park, and a neighborhood dog park - the kind of lifestyle draw that keeps quality tenants in place year after year. The property's long-term occupancy history speaks for itself: stable residents, consistent income, and minimal turnover. With gross monthly rents of $3,420, this is a turnkey cash-flowing asset with no heavy lifting required from day one. The oversized lot offers exceptional flexibility - ample space for outdoor storage, recreational vehicles, or equipment, a rare perk in suburban multifamily that tenants genuinely value and that sets this property apart from anything comparable in the area. Triplexes in suburban locations like Inver Grove Heights almost never come to market. If you've been waiting for a multifamily opportunity that offers the stability of suburban demographics with the income profile of a true investment property, this is it. Also available is the next-door vacant lot at 7177 River Rd. Sold separately or together.

Description from Realtor.com, MLS #7095881. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

The listing gives one income number: $4,125 gross monthly rent, about $49.5K a year, with no per-unit rents, lease terms or expenses. Our underwriting at the $465K ask shows a 5.8% cap rate and about -$237 a month after financing, and break-even is near $420K, roughly $45K below ask. At 91 days on market there is room to negotiate. The photos show mixed, mostly cosmetic updates, and the listing says nothing about the heat or the roof. Ask for the rent roll, leases, 12 months of expenses and the tax bill first. Don't schedule a showing until the numbers are closer to $420K.

Things to consider

Income is unverified A single gross figure hides vacancy, concessions and lease terms. Underwriting rests on it.Listing says: “With gross monthly rents of $3,420”
Price is far above what the numbers support Break-even is roughly $45K under ask. Negative cash flow means you'd be paying to hold it.
Taxes and unit count are unverified No county parcel match, so the tax bill and legal unit count are unknown. Investor taxes can differ from the seller's.
Heat and utilities unknown If baseboard electric is owner-paid, expenses jump. If tenants pay, check the metering.From photo 8
Long time on market gives leverage 91 days suggests the price is not meeting buyers. An offer near break-even is defensible.
Rents sit near our estimates Total of $4,125 is $1,375 a unit, in line with our $1,375 estimates, with little upside if units differ.

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.

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: $465,000
Cash to close: $106,950
Price per unit: $155,000
GRM: 9.4

Each month

Cash flow: −$237/mo
Cash-on-cash: −2.7%
Cap rate: 5.8%
DSCR: 0.90×

Break-even

Price that breaks even: $420,470
Rent that breaks even: $4,433/mo

Long run

Year 30: property vs stocks: $1.70M vs $860K
Cash flow turns positive: year 5

Monthly

Monthly breakdown

Rent	$4,125
Vacancy (6%)	−$248
Collected	$3,878
Property tax Listing	−$317
Insurance Estimate	−$306
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$330
Capital reserve (9% of rent)	−$371
Net operating income	$2,238
Mortgage (principal + interest)	−$2,475
Cash flow	−$237
Principal paid down (equity, not cash)	$315

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$1,695,715

Your equity when you sell: $1,060,956
Rental profits, invested at 7%: $634,759

Same money in stocks$859,626

Cash to close, invested at 7%: $814,131
Monthly shortfalls, invested: $45,495

The building comes out $836,089 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 $1.70M, stocks $860K. 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 $1,375/mo · range $1,275–$1,400 · 8 rentals within 2.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
650 4th St, Newport	$1,295	2 / 1	800	1.3 mi	2026-07-29	Apartment
233 Buron Ln, South Saint Paul	$1,150	2 / 1	575	2.0 mi	2025-01-03	Apartment
8201 College Trl, Inver Grove Heights	$1,420	2 / 1.5	1,020	2.0 mi	2025-01-03	Apartment
1650 10th Ave Unit 2B, Newport	$1,299	2 / 1	750	2.3 mi	—	Apartment
1650 10th Ave, Newport	$1,299	2 / 1	750	2.3 mi	2025-01-03	Apartment
1660 10th Ave Apt 7, Newport	$1,299	2 / 1	750	2.3 mi	—	Apartment
1028 8th Ave S, South Saint Paul	$1,175	2 / 1	785	2.4 mi	2026-01-16	Apartment
614 1st Ave S Unit 1, South Saint Paul	$1,335	2 / 1	1,000	2.7 mi	—	Apartment

1 bed estimate $1,375/mo · range $1,050–$1,400 · 7 rentals within 3 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
8201 College Trl, Inver Grove Heights	$1,349	1 / 1	835	2.0 mi	2025-01-03	Apartment
5480 Blackberry Trl, Inver Grove Heights	$1,525	1 / 1	802	2.2 mi	2025-03-15	Apartment
239 Park St W, South Saint Paul	$999	1 / 1	700	2.4 mi	2025-12-17	Apartment
553 1st Ave S, South Saint Paul	$900	1 / 1	650	2.7 mi	2026-09-22	Apartment
2300 Hastings Ave, Newport	$1,195	1 / 1	535	2.7 mi	2025-01-03	Apartment
7689 Hardwood Ave S, Cottage Grove	$1,612	1 / 1	741	2.8 mi	2025-06-03	Apartment
1462 80th St E, Inver Grove Heights	$1,649	1 / 1	810	3.0 mi	2024-09-28	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

highOnly a gross rent total is given. No per-unit rents, lease dates or expenses. Listing says: With gross monthly rents of $3,420 · AI review
highCash flow is negative at asking price, and break-even is well below the ask. Based on: data: underwriting.break_even_price · 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 4376 UPPER 71ST ST E
mediumMarketing language like 'turnkey' and 'no heavy lifting' sits beside 1915 construction and mixed finishes. Unverified. Listing says: this is a turnkey cash-flowing asset with no heavy lifting required from day one · AI review
lowOccupancy claims are unsupported by any lease or rent roll data. Listing says: stable residents, consistent income, and minimal turnover · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 91 days on market
Adjacent vacant lot is available, for extra parking, storage or future value. Listing says: Also available is the next-door vacant lot at 7177 River Rd. · AI review
Large lot allows storage and RV parking that tenants may pay for. Listing says: ample space for outdoor storage, recreational vehicles, or equipment · AI review
Coin laundry on site could add income if it is owner-operated. Based on: photo 10 · AI review

Questions for the agent

Can I get the rent roll with per-unit rents, lease end dates and deposits?
What are the trailing 12 months of taxes, insurance, utilities and repairs?
How is each unit heated and metered, and who pays what?
What are the ages of the roof, boiler or furnace, water heater and electrical panels?
Is the property licensed as a three-unit rental, and is the laundry owner-operated?
Why has it sat 91 days, and will the seller consider offers near $400K?

Bottom line

A three-unit with unverified rents that loses money at $465K; worth pursuing only near $420K and with a real rent roll. 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.	$3,806
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,674
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 2026-07-06 (91 days); down $10,000 (2.1%) from the first ask of $475,000.

Date	Event	Price
2026-08-05	Price changed	$465,000
2026-07-06	Listed	$475,000

From the listing Listing

Listed as	triplex
Property tax, 2026	$3,806
County	Dakota
Parcel number	200110029134

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 Inver Grove Heights on rental licensing before you buy.