Cash flowsPrice cut $65K244 days on market
5570 and 5580 Shorewood Ln, Excelsior
Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 2,230 sq ft · View the listing ↗
Photos courtesy of Keller Williams Realty, via Realtor.com.
+$101 monthly cash flow
After every cost, including reserves for vacancy and repairs, this duplex puts about $101 a month in your pocket. That’s a 0.9% yearly return on the $132,227 you’d put in.
At $574,900, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 0.9% Yearly cash flow ÷ cash in
- Cap rate
- 6.6% Return if you paid all cash
- Cash to close
- $132,227 Down payment + closing costs
- Break-even price
- $593,911 Most you can pay and still cash flow
Boardwalk’s take
AI-assisted · checked against public recordsClean, refreshed side-by-side in a strong location, but at $574,900 it barely breaks even on our rent estimates, so confirm the roof and push on price.
This is a side-by-side duplex in Shorewood near Excelsior, priced at $574,900 with six beds and four baths total. The description says nothing about current rents, leases or tenants, and the photos look vacant and freshly refreshed. Our estimate is about $2,675 per unit, and at asking price that works out to roughly break-even cash flow ($101/mo) with a 6.6% cap. That is thin, so there is no room for surprises. The roof is the first thing to pin down: the description says both 'new roof being installed' and lists exterior work in 2010, which doesn't line up. Ask who is paying for it and get the permit. Worth a showing only if the roof is confirmed and the price has some room to move.
Things to consider
- Thin returns at the asking price Our estimates give about $101/mo cash flow and a 6.6% cap, and the break-even price is only about $19K above ask. Any vacancy or repair bill pushes it negative.
- Roof status needs proof A roof in progress is a good sign only if it is finished, permitted and warrantied. A dated 2010 reference muddies the picture.Listing says: “a brand new roof being installed!”
- No current rent data Our $2,675 per unit is an estimate, not an actual rent. Without a rent roll you can't verify income.
- Cosmetic refresh, dated kitchens and baths Fresh floors and paint help leasing, but original kitchens and baths may limit rents or need updates later.From photo 6
- No rent cap Rents can rise with the market, which helps if the estimate holds.
- Utilities and cooling not stated If the owner pays any utilities or tenants lack central air, expenses and rentability change.From photo 5
The listing, and how its numbers compare
MLS #7157563What the seller says
Exceptional investment and lifestyle opportunity in the heart of Shorewood! This outstanding duplex is ideally located just steps from the Lake Minnetonka Regional Trail, offering direct access into downtown Excelsior where you'll enjoy restaurants, boutique shopping, and vibrant lake life year-round. Walk or bike to nearby Tonka Bay for additional dining favorites including Hazelwood and Joey Nova's. Whether you're an investor or owner-occupant, this property offers a rare income-producing opportunity with strong rental potential while enjoying one of Lake Minnetonka's most desirable communities. Both units have been extensively updated and well maintained. Major exterior improvements completed in 2010 include new columns, shutters, paint, professional landscaping, and a brand new roof being installed! Recent 2026 updates bring a fresh, modern feel throughout with new carpet, luxury vinyl plank flooring, full interior paint, updated light switches, painted garage and utility floors, and new appliances. Additional mechanical updates include newer furnaces installed within the past five years, providing added efficiency and peace of mind. Enjoy low-maintenance ownership, thoughtful updates, and an unbeatable location near trails, dining, and the best of Lake Minnetonka living.
Listing courtesy of Keller Williams Realty (The Holmers Group).
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Gross income | $48,000 | — |
| Property tax | $7,026 (2026) | — |
| Insurance | $1 | — |
| Water and sewer | $1 | — |
| Trash | $1 | — |
| Heat (fuel) | $1 | — |
| Electric | $1 | — |
| Maintenance / repairs | $1,000 | — |
| Other / reserves, lawn, mgmt | $1,500 | — |
| Operating expenses | $3,000 | — |
| Net operating income | $45,000 | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Duplex Side X Side
- Year built
- 1968
- Living area
- 2,230 sq ft
- Exterior
- Wood
- Roof
- Age 8 Years or Less, Asphalt Shingles
- Basement
- Finished (Livable), Full
- Laundry
- Lower Level, Laundry Room
Systems and utilities
- Heating
- Forced Air · Natural Gas
- Water / sewer
- Well · City Sewer
Parking and lot
- Garage
- 2 spaces
- Parking
- Attached Garage, Driveway - Asphalt
- Lot
- 0.46 acres · 135x329x421x140
- Outdoor
- Patio
- Zoning
- Residential-Multi-Family
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $5,350 |
| Vacancy | −$321 |
| Property tax | −$586 |
| Insurance | −$196 |
| Water, sewer, trash | −$170 |
| Repairs and capital reserve | −$856 |
| Net operating income | $3,161 |
| Mortgage (principal + interest) | −$3,060 |
| Cash flow | $101 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $1.66M aheadYear 30 (loan paid off): this building $2,667,070, the same money in stocks $1,006,546.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year, costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
3 bed: $2,675/mo · range $2,200–$2,675 · 7 rentals within 5 mi · low confidence
Median asking rent of nearby rentals with the same bedroom count (within 5 miles): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. Capped at 1.6× our bedroom rule because nearby rentals run unusually high (likely luxury units). Adjustments: $25/unit (garage mentioned in the description). Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 5603 Manitou Rd, Tonka Bay | $4,208 | 3 / 2 | 0.1 mi |
| 18900 Stratford Rd, Minnetonka | $1,682 | 3 / 1.5 | 3.2 mi |
| 575 W 78th St, Chanhassen | $3,465 | 3 / 2 | 3.7 mi |
| 17830 Valley Cove Ct, Minnetonka | $3,500 | 3 / 2 | 4.6 mi |
| 3 Oakridge Dr, Chaska | $2,764 | 3 / 2 | 4.6 mi |
| 3456 Lake Shore Dr, Chaska | $2,175 | 3 / 1.5 | 4.7 mi |
| 7980 Rose St, Victoria | $3,020 | 3 / 2 | 4.9 mi |
Asking rents from Realtor.com listings, not signed leases.
What the photos show
AI review of 10 listing photosCondition and repairs the listing claims
Done Roof replacement in progress; confirm it is finished and permittedDone New carpet, luxury vinyl plank flooring, full interior paint, new appliances (2026)Done Furnaces installed within the past five yearsDone Exterior columns, shutters, paint, landscaping (2010)
Photos can hide as much as they show; an inspection is the real answer.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
- checkRoof timing is unclear: 2010 exterior work is listed alongside a roof still being installed. Get the permit, contractor and warranty. Listing says: a brand new roof being installed! · AI review
- checkNo rents, leases or tenant info given. The description is pitched at owner-occupants as much as investors. Listing says: Whether you're an investor or owner-occupant, this property offers a rare income-producing opportunity · AI review
Opportunities
- No rent cap here, so rents can follow the market after the refresh. Based on: data: underwriting.rent_rule · AI review
- Both units were just refreshed, so little immediate work should be needed before leasing. Listing says: Recent 2026 updates bring a fresh, modern feel throughout · AI review
- Walkable to the trail and downtown Excelsior, which supports demand from renters. Listing says: just steps from the Lake Minnetonka Regional Trail, offering direct access into downtown Excelsior · AI review
Questions for the agent
- Is the roof finished, who paid for it, and is there a permit and warranty?
- Are the units vacant? If not, what are the current rents, lease terms and deposits?
- Who pays heat, electric, water and trash for each unit? Are the meters separate?
- What is the unit mix? Confirm beds and baths for each side.
- Is there a rental license or city rental registration for Shorewood?
- What are the age and condition of the water heaters, electrical panels and the stove and appliances?
What the records say
Price history · Realtor.com
On the market since 2026-03-03 (244 days); down $65,000 (10.2%) from the first ask of $639,900.
| Date | Event | Price |
|---|---|---|
| Listed | $574,900 | |
| Removed | $599,000 | |
| Removed | $599,000 | |
| Removed | $619,900 | |
| Relisted | $599,000 | |
| Removed | — | |
| Price changed | $599,000 | |
| Removed | — | |
| Listed | $615,000 | |
| Price changed | $619,900 | |
| Listed | $639,900 |
From the listing
| Listed as | Duplex side x side |
| Property tax, 2026 | $7,026 |
| County | Hennepin |
| Parcel number | 3311723110091 |
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 Excelsior on rental licensing before you buy.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.