60 Grove St
Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 2,416 sq ft
Mahtomedi, MN · View the listing ↗
Photos courtesy of Exp Realty - Broker, via Realtor.com.
- Asking price
- $500,000 2 units · $250K per unit
- Monthly cash flow
- −$753 at 20% down, 7%
- Break-even price
- $358,571 where cash flow hits $0
First look
This is listed as a duplex, but the description reads like a single-family sales pitch and gives no rents, no unit split, no heat type and no utilities. At $500K, our numbers show about -$753/mo cash flow and a 4.6% cap rate, with break-even near $359K, so it doesn't work as a rental at today's rates. The photos show only one kitchen and one laundry set, so confirm there are really two units, and whether it's licensed as a duplex. The lake access and Mahtomedi schools support value, but that is a lifestyle premium, not rent. Don't schedule a showing until you have a rent roll, tax bill, and confirmation of the unit layout.
Things to consider
- Price is far above what rents support Our estimates of about $1,775 per unit give a cap rate of 4.6% and about -$753/mo at asking. Break-even is near $359K.
- Unit count and legality are unverified We couldn't match a county parcel, and the photos show only one kitchen. If it isn't a legal duplex, the income case falls apart.
- No rent or expense information The description gives no rents, leases, utilities or heat details, so every income number here is our estimate.
- Dated kitchens and baths They look original, so budget for updates if you want to push rents toward the high estimate.From photo 5
- Shared lake dock Lake access drives value but isn't income. Terms and costs of the shared dock need checking.Listing says: “lake access to White Bear Lake and shared dock”
- 1901 build with updated electrical claimed Old houses can hide wiring, plumbing and foundation issues. Verify permits and get an inspection before relying on the updates.Listing says: “updated electrical throughout”
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
- doneNewer carpetListing says: newer carpet, updated electrical throughout, stylish light fixtures
- doneUpdated electrical throughoutListing says: updated electrical throughout
- doneBrand-new deckListing says: The brand-new deck creates the perfect setting for summer barbecues
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
- $500,000
- Cash to close
- $65,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$1,367/mo
- Cash-on-cash
- −25.2%
- Cap rate
- 4.6%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $291,359
- Rent that breaks even
- $5,325/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $1.21M
- Cash flow turns positive
- year 18
The deal
- Price
- $500,000
- Cash to close
- $65,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$1,667/mo
- Cash-on-cash
- −30.8%
- Cap rate
- 3.9%
- DSCR
- 0.49×
Break-even
- Price that breaks even
- $245,509
- Rent that breaks even
- $5,982/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $1.57M
- Cash flow turns positive
- year 25
The deal
- Price
- $490,000
- Cash to close
- $63,700
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$1,301/mo
- Cash-on-cash
- −24.5%
- Cap rate
- 4.7%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $291,359
- Rent that breaks even
- $5,240/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $1.14M
- Cash flow turns positive
- year 17
The deal
- Price
- $490,000
- Cash to close
- $63,700
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$1,601/mo
- Cash-on-cash
- −30.2%
- Cap rate
- 3.9%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $245,509
- Rent that breaks even
- $5,887/mo
Long run
- Year 30: property vs stocks
- $1.15M vs $1.50M
- Cash flow turns positive
- year 24
The deal
- Price
- $500,000
- Cash to close
- $115,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$753/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $358,571
- Rent that breaks even
- $4,528/mo
Long run
- Year 30: property vs stocks
- $1.37M vs $1.22M
- Cash flow turns positive
- year 14
The deal
- Price
- $500,000
- Cash to close
- $115,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$1,053/mo
- Cash-on-cash
- −11.0%
- Cap rate
- 3.9%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $302,144
- Rent that breaks even
- $5,086/mo
Long run
- Year 30: property vs stocks
- $1.21M vs $1.53M
- Cash flow turns positive
- year 20
The deal
- Price
- $490,000
- Cash to close
- $112,700
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$700/mo
- Cash-on-cash
- −7.4%
- Cap rate
- 4.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $358,571
- Rent that breaks even
- $4,458/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $1.17M
- Cash flow turns positive
- year 13
The deal
- Price
- $490,000
- Cash to close
- $112,700
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$1,000/mo
- Cash-on-cash
- −10.6%
- Cap rate
- 3.9%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $302,144
- Rent that breaks even
- $5,009/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $1.47M
- Cash flow turns positive
- year 19
The deal
- Price
- $500,000
- Cash to close
- $140,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$586/mo
- Cash-on-cash
- −5.0%
- Cap rate
- 4.6%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $382,476
- Rent that breaks even
- $4,312/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $1.30M
- Cash flow turns positive
- year 11
The deal
- Price
- $500,000
- Cash to close
- $140,000
- Price per unit
- $250,000
- GRM
- 11.7
Each month
- Cash flow
- −$887/mo
- Cash-on-cash
- −7.6%
- Cap rate
- 3.9%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $322,287
- Rent that breaks even
- $4,844/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $1.57M
- Cash flow turns positive
- year 18
The deal
- Price
- $490,000
- Cash to close
- $137,200
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$537/mo
- Cash-on-cash
- −4.7%
- Cap rate
- 4.7%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $382,476
- Rent that breaks even
- $4,247/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $1.24M
- Cash flow turns positive
- year 11
The deal
- Price
- $490,000
- Cash to close
- $137,200
- Price per unit
- $245,000
- GRM
- 11.5
Each month
- Cash flow
- −$837/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 3.9%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $322,287
- Rent that breaks even
- $4,771/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $1.51M
- Cash flow turns positive
- year 17
Monthly
Monthly breakdown
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,994 |
| PMI | −$281 |
| Cash flow | −$1,367 |
| Principal paid down (equity, not cash) | $381 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,994 |
| PMI | −$281 |
| Cash flow | −$1,667 |
| Principal paid down (equity, not cash) | $381 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,934 |
| PMI | −$276 |
| Cash flow | −$1,301 |
| Principal paid down (equity, not cash) | $373 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,934 |
| PMI | −$276 |
| Cash flow | −$1,601 |
| Principal paid down (equity, not cash) | $373 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,661 |
| Cash flow | −$753 |
| Principal paid down (equity, not cash) | $339 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,661 |
| Cash flow | −$1,053 |
| Principal paid down (equity, not cash) | $339 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,608 |
| Cash flow | −$700 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,608 |
| Cash flow | −$1,000 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,495 |
| Cash flow | −$586 |
| Principal paid down (equity, not cash) | $317 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,495 |
| Cash flow | −$887 |
| Principal paid down (equity, not cash) | $317 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,908 |
| Mortgage (principal + interest) | −$2,445 |
| Cash flow | −$537 |
| Principal paid down (equity, not cash) | $311 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Listing | −$375 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,608 |
| Mortgage (principal + interest) | −$2,445 |
| Cash flow | −$837 |
| Principal paid down (equity, not cash) | $311 |
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
- $1,140,813
- Rental profits, invested at 7%
- $122,869
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $450,000 of loan.
$93,406 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $494,797
- Monthly shortfalls, invested
- $710,882
$65,000 put into an index fund instead of the down payment and closing costs.
$135,213 you'd have paid in while the building lost money, invested instead.
The building comes out $58,004 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $22,729
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $450,000 of loan.
$20,294 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $494,797
- Monthly shortfalls, invested
- $1,077,904
$65,000 put into an index fund instead of the down payment and closing costs.
$233,560 you'd have paid in while the building lost money, invested instead.
Stocks come out $409,159 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $137,973
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $441,000 of loan.
$103,010 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $484,901
- Monthly shortfalls, invested
- $656,373
$63,700 put into an index fund instead of the down payment and closing costs.
$122,990 you'd have paid in while the building lost money, invested instead.
The building comes out $114,696 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $28,733
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $441,000 of loan.
$25,180 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $484,901
- Monthly shortfalls, invested
- $1,014,295
$63,700 put into an index fund instead of the down payment and closing costs.
$216,621 you'd have paid in while the building lost money, invested instead.
Stocks come out $352,466 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $225,238
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $400,000 of loan.
$153,827 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $875,409
- Monthly shortfalls, invested
- $349,159
$115,000 put into an index fund instead of the down payment and closing costs.
$62,379 you'd have paid in while the building lost money, invested instead.
The building comes out $141,484 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $67,634
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $400,000 of loan.
$54,327 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $875,409
- Monthly shortfalls, invested
- $658,717
$115,000 put into an index fund instead of the down payment and closing costs.
$134,339 you'd have paid in while the building lost money, invested instead.
Stocks come out $325,679 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $246,552
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $392,000 of loan.
$165,197 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $857,901
- Monthly shortfalls, invested
- $310,142
$112,700 put into an index fund instead of the down payment and closing costs.
$54,588 you'd have paid in while the building lost money, invested instead.
The building comes out $196,507 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $77,761
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $392,000 of loan.
$61,375 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $857,901
- Monthly shortfalls, invested
- $608,513
$112,700 put into an index fund instead of the down payment and closing costs.
$122,226 you'd have paid in while the building lost money, invested instead.
Stocks come out $270,656 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $296,767
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $375,000 of loan.
$190,819 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,065,716
- Monthly shortfalls, invested
- $232,153
$140,000 put into an index fund instead of the down payment and closing costs.
$39,493 you'd have paid in while the building lost money, invested instead.
The building comes out $139,712 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $103,285
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $375,000 of loan.
$78,215 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,065,716
- Monthly shortfalls, invested
- $505,834
$140,000 put into an index fund instead of the down payment and closing costs.
$98,349 you'd have paid in while the building lost money, invested instead.
Stocks come out $327,450 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $321,314
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $367,500 of loan.
$202,794 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,044,401
- Monthly shortfalls, invested
- $200,139
$137,200 put into an index fund instead of the down payment and closing costs.
$33,506 you'd have paid in while the building lost money, invested instead.
The building comes out $194,770 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $116,182
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $367,500 of loan.
$86,346 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,044,401
- Monthly shortfalls, invested
- $462,170
$137,200 put into an index fund instead of the down payment and closing costs.
$88,518 you'd have paid in while the building lost money, invested instead.
Stocks come out $272,392 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 $1.26M, stocks $1.21M. The property wins.
Year 30 (loan paid off): property $1.16M, stocks $1.57M. Stocks win.
Year 30 (loan paid off): property $1.26M, stocks $1.14M. The property wins.
Year 30 (loan paid off): property $1.15M, stocks $1.50M. Stocks win.
Year 30 (loan paid off): property $1.37M, stocks $1.22M. The property wins.
Year 30 (loan paid off): property $1.21M, stocks $1.53M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $1.17M. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $1.47M. Stocks win.
Year 30 (loan paid off): property $1.44M, stocks $1.30M. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $1.57M. Stocks win.
Year 30 (loan paid off): property $1.44M, stocks $1.24M. The property wins.
Year 30 (loan paid off): property $1.23M, stocks $1.51M. 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 $1,775/mo · range $1,550–$2,000 · 6 rentals within 3 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 115 East Ave, Mahtomedi | $1,555 | 2 / 1 | 0.5 mi |
| 2520 County Road F E, White Bear Lake | $1,430 | 2 / 1 | 1.6 mi |
| 5680 Hadley Ave N, Oakdale | $1,832 | 2 / 2 | 2.4 mi |
| 3100 Glen Oaks Ave, White Bear Lake | $1,985 | 2 / 2 | 2.4 mi |
| 4008 White Bear Ave Unit 1, White Bear Lake | $1,500 | 2 / 1 | 2.7 mi |
| 3185 Karth Rd, White Bear Lake | $1,870 | 2 / 2 | 3.0 mi |
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
- highMarketed as a lifestyle home, with no rental details at all: no rents, leases or expenses. Listing says: Don't miss your chance to own this incredible lakeside retreat, book your private tour today! · 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 60 GROVE ST
- mediumLake access is via a shared dock, so rights and any association fees or rules need verifying. It may not be exclusive or transferable to tenants. Listing says: lake access to White Bear Lake and shared dock · AI review
- mediumSat on market 61 days at $500K, yet the numbers are far below break-even, so there's room to negotiate. Based on: data: listing.days_on_market · AI review
Opportunities
- Lake access and Mahtomedi schools could keep tenant demand strong and help resale value. Listing says: Located within the award-winning Mahtomedi School District (#832) · AI review
- No rent cap, so rents can follow the market after any updates. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Is this legally a duplex, and is there a rental license? How are the two units laid out, and are there separate entrances and meters?
- What are the current rents, lease terms and tenant move-out dates? Can I see the rent roll?
- What's the heat type, and who pays heat, water and electric? Are there separate meters?
- What are the real property taxes, and are there any special assessments?
- What are the shared dock terms, fees and rules, and may tenants use it?
- How old are the roof, furnace, water heater and electrical panel? Were the electrical updates permitted?
Bottom line
A lakeside duplex priced like a lifestyle home: at $500K it loses about $753 a month on our numbers, so it only works well below roughly $359K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $4,496 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,644 |
| 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 1901: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-08-05 (61 days); last sold for $90,000 on 1989-11-30; listed for rent at $1,795/mo on 2025-07-23.
| Date | Event | Price |
|---|---|---|
| Listed | $500,000 | |
| Removed | — | |
| Listed for rent | $1,795/mo | |
| Sold public record | $90,000 | |
| Sold public record | $88,935 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2025 | $4,496 |
| County | Washington |
| Parcel number | 2903021210020 |
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 Mahtomedi on rental licensing before you buy.