604 And 606 N Pickle St

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,120 sq ft

Overpriced

18 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $250,000
Monthly cash flow: −$434
Estimated rent: $2,050/mo
Break-even price: $168,438

Adjust the numbers See the full breakdown

First look

This is a 2003 side-by-side duplex with two 2-bed/1-bath units, each with a garage, laundry and one-level living. It's in good shape, but the price doesn't fit an investor's math. At $250K and our mid rent estimate of $1,025 per unit, cash flow is about -$434 a month at 20% down and the cap rate is 4.3%. Break-even is around $168K. The listing pitches house-hacking, which is the realistic buyer here, but you would still be subsidizing the place. Taxes and unit count are unverified because the parcel didn't match, so confirm those first. Ask for the rent roll and heating setup before a showing. Eighty-one days on market suggests room to negotiate.

Things to consider

Price versus rents Cash flow is negative at asking and break-even is well below the price. A pure investor needs a big discount.
Unverified taxes and unit count The parcel didn't match, so the tax bill and legal use are unknown. Taxes could change the numbers a lot.
House-hack is the best use Living in one unit reduces your housing cost and may allow better financing, but you still need to carry the mortgage.Listing says: “providing a great opportunity to live in one and rent the other to offset expenses”
Vacant unit and unknown rent Lease terms and the occupied unit's rent aren't stated, so income can't be verified. Vacancy risk is real in a small market.Listing says: “Currently one unit is rented with one vacant”
Condition looks good on the surface Newer interior finishes mean low near-term capex, but systems like roof, HVAC and water heaters weren't shown.From photo 3

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 appliances and flooring in both unitsListing says: Units have both been kept up to date with newer appliances, flooring, etc.

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: $250,000
Cash to close: $57,500
Price per unit: $125,000
GRM: 10.2

Each month

Cash flow: −$434/mo
Cash-on-cash: −9.1%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $168,438
Rent that breaks even: $2,607/mo

Long run

Year 30: property vs stocks: $630K vs $676K
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$2,050
Vacancy (6%)	−$123
Collected	$1,927
Property tax Listing	−$278
Insurance Estimate	−$194
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$164
Capital reserve (8% of rent)	−$164
Net operating income	$896
Mortgage (principal + interest)	−$1,331
Cash flow	−$434
Principal paid down (equity, not cash)	$169

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$630,007

Your equity when you sell: $570,407
Rental profits, invested at 7%: $59,600

Same money in stocks$675,774

Cash to close, invested at 7%: $437,705
Monthly shortfalls, invested: $238,069

Stocks come out $45,767 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 $630K, stocks $676K. 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.

2 bed / 1 bath estimate $1,025/mo · range $725–$1,300

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
106-122 5th St SW, Wadena 56482 off market	$900	2 / 1	—	8.4 mi	2026-07-07	81%
101 Thompson St, Verndale 56481 off market	$688	1 / 1	—	6.1 mi	2026-07-12	75%
220 4th St NE, Staples 56479 off market	$800	2 / 1	—	14.2 mi	2025-10-06	75%
825 4th St NE, Staples 56479 off market	$625	2 / 1	—	14.2 mi	2026-03-05	75%
502-516 King Ave SW, Wadena 56482 off market	$1,700	3 / 1.5	—	7.8 mi	2026-06-16	70%
1201 8th St NE, Staples 56479 off market	$875	2 / 2	—	14.5 mi	2026-09-16	70%
102 Airview Dr, Staples 56479 off market	$840	2 / 1	1,002	14.4 mi	2026-07-27	68%
219 1st St NE, Wadena 56482 off market	$1,100	2 / 1	—	8.3 mi	2026-09-29	67%
603 Autumn Ave NE, Staples 56479 off market	$680	1 / 1	—	14.4 mi	2026-08-16	65%
220 4th St NE, Apt 8, Staples 56479 off market	$750	1 / 1	—	14.2 mi	2025-06-02	65%

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

highPrice is far above what the rents support; negative cash flow at the default scenario. Based on: data: underwriting.cash_flow_monthly · 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 604 AND 606 N PICKLE ST
mediumAsking is $81,562 above the price where cash flow breaks even ($168,438) at the default scenario. Based on: Derived: price $250,000 vs. break-even $168,438
mediumOne unit is vacant and the other's rent and lease terms aren't given, so there is no verified income. Listing says: Currently one unit is rented with one vacant · AI review
lowSmall rural market with a mid rent estimate near $1,025 per unit and a wide range ($725 to $1,300). Based on: data: rent_estimate · AI review

Opportunities

Owner-occupy one unit and rent the other to offset the mortgage; may allow lower-down-payment owner-occupant financing (verify with a lender). Listing says: providing a great opportunity to live in one and rent the other to offset expenses · AI review
Two garages, in-unit laundry and one-level living should help with tenant appeal and retention. Listing says: each with a single stall attached garage, back patio, laundry, and main level living · AI review
Trail access is a tenant amenity. Listing says: Property is adjacent to the Rails-to-Trails recreation trail. · AI review

Questions for the agent

What rent does the occupied unit pay, what is the lease term, and is there a signed lease?
What do the units pay for heat, electric, water, sewer and trash, and are there separate meters?
What are the annual taxes, and are there any special assessments?
How old are the roof, the water heaters and the heating or cooling systems?
Why has it been listed for 81 days, and have there been price cuts or offers?
What would the vacant unit rent for, and have there been showings or applications?

Bottom line

Clean, newer duplex that works as a house-hack at the right price, but at $250K it loses money as a pure rental. 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.	$3,340
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,330
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 2026-07-16 (81 days); down $15,000 (5.7%) from the first ask of $265,000; last sold for $90,000 on 2019-02-28.

Date	Event	Price
2026-10-01	Price changed	$250,000
2026-07-16	Listed	$265,000
2019-03-02	Removed	$99,000
2019-02-28	Sold	$90,000
2018-12-21	Price changed	$99,000
2018-09-19	Listed	$110,000
2017-12-06	Removed	$108,900
2017-06-05	Listed	$108,900

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$3,340
County	Todd
Parcel number	350020000

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 Hewitt on rental licensing before you buy.