517 7th St E

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,616 sq ft

14 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $349,000
Monthly cash flow: −$88
Estimated rent: $3,200/mo
Break-even price: $332,393

Adjust the numbers See the full breakdown

From the listing

Updated Duplex offering comfortable living!! Main Level Unit features three Bedrooms, a full Bath, in-unit Laundry, and a cozy gas fireplace, creating a warm and functional everyday space. Upper Unit features one Bedroom, full Bath, and in-unit Laundry. Major updates completed in 2022 include all new windows, front door, laminate flooring, kitchen cabinets, and appliances, giving the property a clean, modern feel throughout! A well-maintained property with thoughtful improvements and layout. Featuring maintenance-free siding for easy upkeep, this duplex also represents a great investment opportunity with strong rental potential and long-term value!!

Listing courtesy of RE/MAX Results (Jay McGrath). Description from Realtor.com, MLS #7155132. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2022-refreshed Hastings duplex asking $349K, and at ask our underwriting shows about -$88/month cash flow with a 6.1% cap rate. Break-even price is roughly $332K, so the price is about $17K too high for these rents. The listing gives no rents, no lease status and no expenses, and our rent estimate is a generic 2-bed figure for both units, which doesn't match the real 3-bed and 1-bed split. The finishes look clean, but the house dates to 1860, so the foundation, wiring, plumbing and heating matter more than the new cabinets. Worth a showing only if the real rents beat our estimates or the price comes down.

Things to consider

Cash flow is slightly negative at ask Underwriting shows -$88/month at ask. The price needs to drop about $17K or rents need to beat our estimates to work at current rates.
Rent estimate treats both units as 2-beds The real mix is a 3-bed and a 1-bed. The total may be similar, but the 3-bed could rent higher and the 1-bed lower. Get actual rents.
1860 house with no mechanical or foundation details Old stone or block foundations, knob-and-tube wiring or old plumbing can cost a lot to fix. Cosmetic updates don't tell you about these.
Updates are from 2022, so cosmetic work should hold up Windows, flooring, cabinets and appliances were redone, so near-term turn costs should be lower than a dated building.Listing says: “Major updates completed in 2022 include all new windows, front door, laminate flooring, kitchen cabinets, and appliances”
Heat and utilities appear split by unit, but it's unconfirmed Separate heat sources and in-unit laundry suggest tenants may pay their own utilities. If the owner pays any, expenses rise.From photo 9

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

doneNew windows, front door, laminate flooring, kitchen cabinets and appliances (2022)Listing says: Major updates completed in 2022 include all new windows, front door, laminate flooring, kitchen cabinets, and appliances

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: $349,000
Cash to close: $80,270
Price per unit: $174,500
GRM: 9.1

Each month

Cash flow: −$88/mo
Cash-on-cash: −1.3%
Cap rate: 6.1%
DSCR: 0.95×

Break-even

Price that breaks even: $332,393
Rent that breaks even: $3,315/mo

Long run

Year 30: property vs stocks: $1.39M vs $622K
Cash flow turns positive: year 3

Monthly

Monthly breakdown

Rent	$3,200
Vacancy (6%)	−$192
Collected	$3,008
Property tax Listing	−$263
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$256
Capital reserve (9% of rent)	−$288
Net operating income	$1,769
Mortgage (principal + interest)	−$1,858
Cash flow	−$88
Principal paid down (equity, not cash)	$236

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$1,389,263

Your equity when you sell: $796,288
Rental profits, invested at 7%: $592,976

Same money in stocks$621,677

Cash to close, invested at 7%: $611,036
Monthly shortfalls, invested: $10,641

The building comes out $767,586 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 $1.39M, stocks $622K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.

2 bed / 1 bath estimate $1,600/mo · range $1,300–$1,925

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
208 4th St E, Hastings 55033 off market	$1,420	2 / 1	1,145	0.3 mi	2026-05-17	93%
321 6th St E, Unit 2, Hastings 55033	$1,700	2 / 1	1,031	0.1 mi	2026-08-12	91%
321 6th St E, Unit 10, Hastings 55033	$1,900	2 / 1	958	0.1 mi	2026-08-16	90%
921 Pearl St, Apt 1, Prescott, WI 54021 off market	$950	2 / 1	—	2.6 mi	2026-04-27	90%
469 Gibbs St S, Apt 2, Prescott, WI 54021	$1,200	2 / 1	—	2.9 mi	2026-09-16	90%
321 6th St E, Unit 9, Hastings 55033	$1,650	2 / 1	897	0.1 mi	2026-08-16	89%
321 6th St E, Unit 3, Hastings 55033	$1,950	2 / 1	847	0.1 mi	2026-08-16	88%
1000 Lyn Way, Hastings 55033	$1,080	2 / 1	950	1.2 mi	2025-12-11	88%
118 25th St W, Unit 1, Hastings 55033 off market	$1,400	2 / 1	950	1.4 mi	2023-10-10	88%
2550 Voyageur Pkwy, Apt 303, Hastings 55033 off market	$1,395	2 / 1	966	1.5 mi	2026-08-31	88%

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

mediumPrice is above our break-even; cash flow is negative at ask Based on: data: underwriting.break_even_price · AI review
mediumNo rents, lease terms or expenses given, so the income is unverified Listing says: this duplex also represents a great investment opportunity with strong rental potential and long-term value!! · AI review
medium1860 build date: old structure, likely older wiring, plumbing and foundation Based on: data: listing.year_built · AI review

Opportunities

No rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
Updates are done and both units have in-unit laundry, which should help keep tenants Listing says: Upper Unit features one Bedroom, full Bath, and in-unit Laundry. · AI review
Maintenance-free siding lowers exterior upkeep Listing says: Featuring maintenance-free siding for easy upkeep · AI review

Questions for the agent

What are the current rents, lease end dates and are any units month-to-month?
Who pays heat, electric, water and trash, and are there separate meters?
What is the heat source for each unit, and how old are the systems and the water heaters?
What is the foundation type, and has it been inspected? What is the electrical panel and wiring type?
Is the property licensed as a rental in Hastings, and are there any open inspection items?
What are last year's taxes and trailing-12 expenses?

Bottom line

Clean, updated 3-bed/1-bed duplex, but at $349K it runs slightly negative and sits about $17K above break-even, so verify rents and the 1860 bones before offering. 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.	$3,154
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,424
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 1860: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-10-05 (1 days); last sold for $186,000 on 2023-07-25; listed for rent at $1,750/mo on 2024-12-17.

Date	Event	Price
2026-10-05	Listed	$349,000
2025-01-10	Removed	—
2024-12-17	Listed for rent	$1,750/mo
2023-07-25	Sold	$186,000
2023-05-20	Removed	—
2023-01-31	Price changed	$200,000
2023-01-20	Removed	—
2023-01-19	Listed	$212,000
2023-01-18	Listed	$212,000
2016-11-18	Sold	$165,500
2016-09-28	Sold public record	$163,000
2016-05-02	Listed	$165,500
2011-06-10	Removed	$164,900
2003-03-05	Sold public record	$151,000
2002-09-22	Listed	$164,900
1991-10-23	Sold public record	$48,000
1991-09-25	Sold public record	$42,500

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,154
County	Dakota
Parcel number	193215134070

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 Hastings on rental licensing before you buy.