523 8th Ave N

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,261 sq ft

Far off

15 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $475,000
Monthly cash flow: −$1,722
Estimated rent: $1,950/mo
Break-even price: $151,478

Adjust the numbers See the full breakdown

From the listing

This property is being sold as a package which includes 3 duplexes, for a total of 6 units. This parcel contains one duplex, with a second story apartment. The main level has access to the finished basement and laundry. The main level unit has the garage access. This is being sold with the property next door at 525/527 8th Ave N. That parcel contains 2 more duplexes. Here is your chance to own nice properties with good cash flow. All units are rented and most tenants have been here for years. Updated roofs on all 3 buildings in 2023. Close to parks, the hospital and downtown. Great investment property! All units are occupied. Photos are from vacancies between tenants.

Listing courtesy of NRT-Minnesota (CB Burnet) (Debbie Niemeyer). Description from Realtor.com, MLS #7087258. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a six-unit package (three duplexes) priced at $475K, but our numbers only cover this one duplex, so the price is confusing. Treat the figures carefully: at $475K ask, we show cash flow of -$1,722 a month and a 2.0% cap rate, and break-even is about $151K. If the $475K is the package price, the math changes, so first confirm what this parcel is priced at and get all six rents. The description says 'good cash flow' but gives no rents, taxes or expenses, which is the first thing to demand. Photos show basic, dated but clean units with electric baseboard heat. Worth a showing only if the rent roll supports the price, and 122 days on market gives room to negotiate.

Things to consider

Price versus numbers Our underwriting shows heavy negative cash flow at the ask and break-even far below it. If the price covers six units, the math improves but must be redone.
Package structure Buying three duplexes together means more capital and no ability to cherry-pick. You need all six rents and expenses.Listing says: “This property is being sold as a package which includes 3 duplexes, for a total of 6 units.”
Rents unproven Our estimate is around $975 per 2-bed unit and the listing states none. Occupied status does not mean rents are at market.Listing says: “All units are occupied.”
Unverified parcel data We could not match county records, so taxes and unit count are unconfirmed, and taxes could change the numbers a lot.
Heating and electric Baseboard electric heat shifts cost to tenants but can hurt rentability in winter; confirm who pays what.From photo 4

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

doneRoofs updated on all 3 buildingsListing says: Updated roofs on all 3 buildings in 2023.

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: $475,000
Cash to close: $109,250
Price per unit: $237,500
GRM: 20.3

Each month

Cash flow: −$1,722/mo
Cash-on-cash: −18.9%
Cap rate: 2.0%
DSCR: 0.32×

Break-even

Price that breaks even: $151,478
Rent that breaks even: $4,158/mo

Long run

Year 30: property vs stocks: $1.08M vs $2.51M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$1,950
Vacancy (6%)	−$117
Collected	$1,833
Property tax Listing	−$288
Insurance Estimate	−$197
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$156
Capital reserve (8% of rent)	−$156
Net operating income	$806
Mortgage (principal + interest)	−$2,528
Cash flow	−$1,722
Principal paid down (equity, not cash)	$322

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$1,083,773

Your equity when you sell: $1,083,773
Rental profits, invested at 7%: $0

Same money in stocks$2,509,106

Cash to close, invested at 7%: $831,639
Monthly shortfalls, invested: $1,677,467

Stocks come out $1,425,333 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 $1.08M, stocks $2.51M. 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 $900–$1,075 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
421 8th Ave N, Saint Cloud	$875	2 / 1	—	0.1 mi	2026-01-09	Apartment
616 10th Ave N, Saint Cloud	$795	2 / 1	725	0.1 mi	2026-02-05	Apartment
625 12th Ave N Apt 212, Saint Cloud	$1,175	2 / 1	1,100	0.3 mi	2026-06-12	Apartment
1423 6th St N, Saint Cloud	$950	2 / 1	—	0.3 mi	2026-05-06	Apartment
226 3rd Ave NE Unit 2, Saint Cloud	$892	2 / 1	850	0.6 mi	2026-10-02	Apartment
28 3rd Ave NE, Saint Cloud	$975	2 / 1	800	0.6 mi	2025-09-26	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

highPackage sale with unclear pricing: the list price may cover six units, while our data covers two Listing says: This is being sold with the property next door at 525/527 8th Ave N. · AI review
highNo rents, expenses or lease terms given despite 'good cash flow' claim Listing says: Here is your chance to own nice properties with good cash flow. · 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 523 8TH AVE N
mediumAsking is $323,522 above the price where cash flow breaks even ($151,478) at the default scenario. Based on: Derived: price $475,000 vs. break-even $151,478
mediumTenant turnover and lease status unknown; 'most' tenants only, with some turnover implied by vacancy photos Based on: Photos are from vacancies between tenants. · AI review
mediumFinished basement and shared laundry/garage access tied to the main unit complicate unit separation and metering Listing says: The main level has access to the finished basement and laundry. · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 122 days on market
Roofs are recent, reducing near-term big-ticket capex Listing says: Updated roofs on all 3 buildings in 2023. · AI review
Dated kitchens could be refreshed to push rents toward the high end of our estimate Based on: photo 2 · AI review

Questions for the agent

What is the price for this parcel versus the full six-unit package, and can they be bought separately?
Can I get the rent roll, lease dates and security deposits for all six units?
What are trailing-12 taxes, insurance, utilities and repairs for each building?
Who pays heat and electric, and are units separately metered (photos show electric baseboard heat)?
Are the basement and laundry shared between units, and are all units licensed rentals?
Why have photos come from vacancies if all units are occupied, and how long is typical tenancy?

Bottom line

At $475K for what our numbers treat as a two-unit building, it doesn't work, so find out the real package price and rents before spending time. 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.	$3,452
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,365
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. base rate	8% / 8%

Price history Realtor.com

On the market since 2026-06-05 (122 days); down $20,000 (4.0%) from the first ask of $495,000.

Date	Event	Price
2026-07-22	Price changed	$475,000
2026-06-25	Relisted	$495,000
2026-06-24	Removed	—
2026-06-05	Listed	$495,000

From the listing Listing

Listed as	duplex other
Property tax, 2026	$3,452
County	Stearns
Parcel number	82518920000

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.