520 S 2nd St
Duplex · 2 units: 5 bed / 2.5 bath and 4 bed / 2.5 bath unit split estimated · 3,000 sq ft
Mankato, MN · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $550,000 2 units · $275K per unit
- Monthly cash flow
- −$675 at 20% down, 7%
- Estimated rent
- $4,150/mo medium confidence
- Break-even price
- $423,100 where cash flow hits $0
First look
The listing claims an 8.6 cap, but our underwriting at the ask gives 4.9% and about -$675/month at 20% down. The gap likely comes from the stated $5,015 gross, which includes $515 of garage and parking income, and from expenses the listing never shows. The odd part is that one lease covers both units at $4,500, which is about $2,250 per unit, while our estimates total $4,150, so the lease runs somewhat above our numbers. A single master lease on a 9-bedroom duplex is likely a group or student rental, and that tenant leaving would leave you with a big, hard-to-fill building. Get the lease, the term, who the tenant is, and the real tax bill before a showing. At $550K and 102 days on market, it only works near our break-even of about $423K.
Things to consider
- Master lease concentration risk One tenant pays 90% of the income. If they leave, you carry a 9-bedroom building with a large vacancy and heavy re-leasing cost.Listing says: “1 lease covers both units $4500/month”
- Rents look above our estimates $4,500 for both units is above the $4,150 sum of our estimates, so there is little upside from raising rents and some risk the lease rent is hard to replace.
- Unverified county data We couldn't match a parcel, so taxes and licensed unit count are unknown and could shift the numbers.
- Age and unseen systems An 1884 building needs inspection of foundation, wiring, plumbing and heat, none of which are shown or described.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Both units (single lease): $4,500 (lease)Listing says: 1 lease covers both units $4500/month
- Surface parking: $365Listing says: surface parking $365/month
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
- $550,000
- Cash to close
- $71,500
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$1,351/mo
- Cash-on-cash
- −22.7%
- Cap rate
- 4.9%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $343,792
- Rent that breaks even
- $5,927/mo
Long run
- Year 30: property vs stocks
- $1.47M vs $1.17M
- Cash flow turns positive
- year 15
The deal
- Price
- $550,000
- Cash to close
- $71,500
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$1,702/mo
- Cash-on-cash
- −28.6%
- Cap rate
- 4.1%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $290,193
- Rent that breaks even
- $6,670/mo
Long run
- Year 30: property vs stocks
- $1.31M vs $1.56M
- Cash flow turns positive
- year 22
The deal
- Price
- $540,000
- Cash to close
- $70,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$1,285/mo
- Cash-on-cash
- −22.0%
- Cap rate
- 5.0%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $343,792
- Rent that breaks even
- $5,841/mo
Long run
- Year 30: property vs stocks
- $1.47M vs $1.11M
- Cash flow turns positive
- year 15
The deal
- Price
- $540,000
- Cash to close
- $70,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$1,636/mo
- Cash-on-cash
- −28.0%
- Cap rate
- 4.2%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $290,193
- Rent that breaks even
- $6,573/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $1.49M
- Cash flow turns positive
- year 21
The deal
- Price
- $550,000
- Cash to close
- $126,500
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$675/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 4.9%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $423,100
- Rent that breaks even
- $5,039/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $1.23M
- Cash flow turns positive
- year 11
The deal
- Price
- $550,000
- Cash to close
- $126,500
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$1,027/mo
- Cash-on-cash
- −9.7%
- Cap rate
- 4.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $357,136
- Rent that breaks even
- $5,670/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $1.54M
- Cash flow turns positive
- year 17
The deal
- Price
- $540,000
- Cash to close
- $124,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$622/mo
- Cash-on-cash
- −6.0%
- Cap rate
- 5.0%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $423,100
- Rent that breaks even
- $4,969/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $1.17M
- Cash flow turns positive
- year 10
The deal
- Price
- $540,000
- Cash to close
- $124,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$973/mo
- Cash-on-cash
- −9.4%
- Cap rate
- 4.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $357,136
- Rent that breaks even
- $5,591/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $1.48M
- Cash flow turns positive
- year 17
The deal
- Price
- $550,000
- Cash to close
- $154,000
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$492/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 4.9%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $451,307
- Rent that breaks even
- $4,798/mo
Long run
- Year 30: property vs stocks
- $1.72M vs $1.33M
- Cash flow turns positive
- year 9
The deal
- Price
- $550,000
- Cash to close
- $154,000
- Price per unit
- $275,000
- GRM
- 11.0
Each month
- Cash flow
- −$844/mo
- Cash-on-cash
- −6.6%
- Cap rate
- 4.1%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $380,945
- Rent that breaks even
- $5,399/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $1.59M
- Cash flow turns positive
- year 15
The deal
- Price
- $540,000
- Cash to close
- $151,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$443/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.0%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $451,307
- Rent that breaks even
- $4,732/mo
Long run
- Year 30: property vs stocks
- $1.73M vs $1.28M
- Cash flow turns positive
- year 8
The deal
- Price
- $540,000
- Cash to close
- $151,200
- Price per unit
- $270,000
- GRM
- 10.8
Each month
- Cash flow
- −$794/mo
- Cash-on-cash
- −6.3%
- Cap rate
- 4.2%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $380,945
- Rent that breaks even
- $5,325/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $1.53M
- Cash flow turns positive
- year 14
Monthly
Monthly breakdown
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$3,293 |
| PMI | −$309 |
| Cash flow | −$1,351 |
| Principal paid down (equity, not cash) | $419 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$3,293 |
| PMI | −$309 |
| Cash flow | −$1,702 |
| Principal paid down (equity, not cash) | $419 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$3,233 |
| PMI | −$304 |
| Cash flow | −$1,285 |
| Principal paid down (equity, not cash) | $411 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$3,233 |
| PMI | −$304 |
| Cash flow | −$1,636 |
| Principal paid down (equity, not cash) | $411 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$2,927 |
| Cash flow | −$675 |
| Principal paid down (equity, not cash) | $372 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$2,927 |
| Cash flow | −$1,027 |
| Principal paid down (equity, not cash) | $372 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$2,874 |
| Cash flow | −$622 |
| Principal paid down (equity, not cash) | $366 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$2,874 |
| Cash flow | −$973 |
| Principal paid down (equity, not cash) | $366 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$2,744 |
| Cash flow | −$492 |
| Principal paid down (equity, not cash) | $349 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$2,744 |
| Cash flow | −$844 |
| Principal paid down (equity, not cash) | $349 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Net operating income | $2,252 |
| Mortgage (principal + interest) | −$2,694 |
| Cash flow | −$443 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$438 |
| Insurance Estimate | −$234 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$374 |
| Capital reserve (9% of rent) | −$374 |
| Property management | −$351 |
| Net operating income | $1,901 |
| Mortgage (principal + interest) | −$2,694 |
| Cash flow | −$794 |
| Principal paid down (equity, not cash) | $343 |
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
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $216,523
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $495,000 of loan.
$154,186 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $544,276
- Monthly shortfalls, invested
- $625,461
$71,500 put into an index fund instead of the down payment and closing costs.
$112,786 you'd have paid in while the building lost money, invested instead.
The building comes out $301,681 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $58,562
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $495,000 of loan.
$48,845 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $544,276
- Monthly shortfalls, invested
- $1,013,619
$71,500 put into an index fund instead of the down payment and closing costs.
$207,884 you'd have paid in while the building lost money, invested instead.
Stocks come out $244,439 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $236,561
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $486,000 of loan.
$165,682 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,380
- Monthly shortfalls, invested
- $575,886
$70,200 put into an index fund instead of the down payment and closing costs.
$102,456 you'd have paid in while the building lost money, invested instead.
The building comes out $358,374 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $67,919
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $486,000 of loan.
$55,720 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,380
- Monthly shortfalls, invested
- $953,363
$70,200 put into an index fund instead of the down payment and closing costs.
$192,933 you'd have paid in while the building lost money, invested instead.
Stocks come out $187,746 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $363,822
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $440,000 of loan.
$232,367 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $962,950
- Monthly shortfalls, invested
- $262,259
$126,500 put into an index fund instead of the down payment and closing costs.
$44,387 you'd have paid in while the building lost money, invested instead.
The building comes out $393,508 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $131,425
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $440,000 of loan.
$98,625 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $962,950
- Monthly shortfalls, invested
- $575,981
$126,500 put into an index fund instead of the down payment and closing costs.
$111,084 you'd have paid in while the building lost money, invested instead.
Stocks come out $152,612 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $390,549
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $432,000 of loan.
$245,281 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $945,442
- Monthly shortfalls, invested
- $228,654
$124,200 put into an index fund instead of the down payment and closing costs.
$38,141 you'd have paid in while the building lost money, invested instead.
The building comes out $448,531 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $145,827
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $432,000 of loan.
$107,566 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $945,442
- Monthly shortfalls, invested
- $530,052
$124,200 put into an index fund instead of the down payment and closing costs.
$100,865 you'd have paid in while the building lost money, invested instead.
Stocks come out $97,588 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $463,533
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $412,500 of loan.
$278,732 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,172,287
- Monthly shortfalls, invested
- $154,581
$154,000 put into an index fund instead of the down payment and closing costs.
$24,887 you'd have paid in while the building lost money, invested instead.
The building comes out $391,560 ahead after 30 years.
- Your equity when you sell
- $1,254,894
- Rental profits, invested at 7%
- $185,535
Sells for $1,334,994 (value up 3% a year), minus 6% selling cost ($80,100). Rent paid down $412,500 of loan.
$131,116 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,172,287
- Monthly shortfalls, invested
- $422,703
$154,000 put into an index fund instead of the down payment and closing costs.
$77,711 you'd have paid in while the building lost money, invested instead.
Stocks come out $154,560 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $494,835
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $405,000 of loan.
$292,347 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,150,973
- Monthly shortfalls, invested
- $129,323
$151,200 put into an index fund instead of the down payment and closing costs.
$20,539 you'd have paid in while the building lost money, invested instead.
The building comes out $446,618 ahead after 30 years.
- Your equity when you sell
- $1,232,079
- Rental profits, invested at 7%
- $202,619
Sells for $1,310,722 (value up 3% a year), minus 6% selling cost ($78,643). Rent paid down $405,000 of loan.
$140,827 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,150,973
- Monthly shortfalls, invested
- $383,226
$151,200 put into an index fund instead of the down payment and closing costs.
$69,459 you'd have paid in while the building lost money, invested instead.
Stocks come out $99,501 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
Year 30 (loan paid off): property $1.47M, stocks $1.17M. The property wins.
Year 30 (loan paid off): property $1.31M, stocks $1.56M. Stocks win.
Year 30 (loan paid off): property $1.47M, stocks $1.11M. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $1.49M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $1.23M. The property wins.
Year 30 (loan paid off): property $1.39M, stocks $1.54M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $1.17M. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $1.48M. Stocks win.
Year 30 (loan paid off): property $1.72M, stocks $1.33M. The property wins.
Year 30 (loan paid off): property $1.44M, stocks $1.59M. Stocks win.
Year 30 (loan paid off): property $1.73M, stocks $1.28M. The property wins.
Year 30 (loan paid off): property $1.43M, stocks $1.53M. Stocks win.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
5 bed / 2.5 bath estimate $2,250/mo · range $1,775–$2,725
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 526 S 2nd St, Apt 1, Mankato 56001 | $2,475 | 5 / 2 | 0.0 mi | 92% |
| 324 James Ave, Mankato 56001 off market | $1,829 | 4 / 2 | 0.9 mi | 86% |
| 224 James Ave, Mankato 56001 | $1,979 | 4 / 2 | 0.8 mi | 84% |
| 529 S 5th St, Mankato 56001 off market | $1,600 | 4 / 1 | 0.3 mi | 83% |
| 526 S 2nd St, Apt 3, Mankato 56001 | $1,980 | 4 / 2 | 0.0 mi | 82% |
| 216 James Ave, Mankato 56001 | $2,200 | 4 / 2 | 0.8 mi | 82% |
| 210 James Ave, Mankato 56001 off market | $1,600 | 4 / 2 | 0.8 mi | 82% |
| 160 Balcerzak Dr, Mankato 56001 | $2,695 | 5 / 2 | 1.0 mi | 82% |
| 162 Balcerzak Dr, Mankato 56001 | $2,895 | 5 / 2 | 1.0 mi | 82% |
| 1316 Warren St, Unit 1, Mankato 56001 | $3,050 | 5 / 2 | 1.1 mi | 82% |
4 bed / 2.5 bath estimate $1,900/mo · range $1,600–$2,200
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 324 James Ave, Mankato 56001 off market | $1,829 | 4 / 2 | 0.9 mi | 96% |
| 224 James Ave, Mankato 56001 | $1,979 | 4 / 2 | 0.8 mi | 94% |
| 529 S 5th St, Mankato 56001 off market | $1,600 | 4 / 1 | 0.3 mi | 92% |
| 526 S 2nd St, Apt 3, Mankato 56001 | $1,980 | 4 / 2 | 0.0 mi | 92% |
| 216 James Ave, Mankato 56001 | $2,200 | 4 / 2 | 0.8 mi | 91% |
| 210 James Ave, Mankato 56001 off market | $1,600 | 4 / 2 | 0.8 mi | 91% |
| 102 S 5th St, Apt 5, Mankato 56001 off market | $1,695 | 4 / 2 | 0.4 mi | 91% |
| 532 W Wheeler Ave, North, Mankato 56003 off market | $1,335 | 3 / 2 | 0.8 mi | 85% |
| 321 Ramsey St, Mankato 56001 | $2,100 | 4 / 2 | 0.3 mi | 82% |
| 526 S 2nd St, Apt 1, Mankato 56001 | $2,475 | 5 / 2 | 0.0 mi | 82% |
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
- highSingle lease covers both units, so one tenant default empties the whole building. Listing says: 1 lease covers both units $4500/month · 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 520 2ND ST S
- mediumDescription quotes $5,015 total rent but only itemizes garage and parking on top of $4,500; parking income may not be stable or transferable. Listing says: Rent is $5015/month. · AI review
- mediumBuilt 1884 with no system or roof details given. Based on: data: listing.year_built · AI review
- lowOwner pays water and sewer with no reimbursement mentioned; the single tenant may have little incentive to conserve. Listing says: owner pays w/s · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 102 days on market
- Price is well above our break-even, and 102 days on market gives room to negotiate toward it. Based on: data: underwriting.break_even_price · AI review
- Opportunity Zone location may matter for some investors' tax planning; verify with a tax professional. Listing says: Located in an "OPPORTUNITY ZONE"! · AI review
- Rents are unregulated, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Can I see the master lease: term, tenant, renewal and who is liable for damage?
- Who is the tenant (students, a group, an operator), and have they paid on time?
- What are the actual property taxes, insurance and trailing-12 expenses behind the 8.6 cap?
- Is the duplex licensed with the City of Mankato for 9 bedrooms, and when does the license expire?
- Are the garage and parking rents under separate agreements, and who pays them?
- Ages of the roof, boiler or furnace, water heater and electrical panel?
Bottom line
The 8.6 cap doesn't hold up against our 4.9% at asking, and a single master lease makes this riskier than it looks, so it only works well below about $423K. 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. | $5,260 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,805 |
| 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 1884: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear | 9% / 9% |
Price history Realtor.com
On the market since 2025-12-31 (278 days); last sold for $550,000 on 2021-05-03; listed for rent at $2,400/mo on 2026-05-11.
| Date | Event | Price |
|---|---|---|
| Price changed | $550,000 | |
| Removed | $599,900 | |
| Listed | $500,000 | |
| Removed | — | |
| Removed | — | |
| Listed for rent | $2,400/mo | |
| Removed | — | |
| Listed for rent | $2,400/mo | |
| Removed | — | |
| Rent changed | $2,400/mo | |
| Listed for rent | $1,800/mo | |
| Removed | — | |
| Removed | — | |
| Listed for rent | $1,800/mo | |
| Removed | — | |
| Removed | — | |
| Removed | $550,000 | |
| Listed for rent | $1,800/mo | |
| Rental removed | $2,700/mo | |
| Removed | $599,900 | |
| Listed | $599,900 | |
| Sold | $550,000 | |
| Listed | $550,000 | |
| Listed | $550,000 | |
| Sold public record | $190,000 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2026 | $5,260 |
| County | Blue Earth |
| Parcel number | R010918106027 |
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 Mankato on rental licensing before you buy.