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610 8th St SW

Fourplex · 4 units: 1 bed / 1 bath ×4 unit split estimated · 2,408 sq ft

Austin, MN · View the listing ↗

Cash flows
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Photos, via Realtor.com.

Asking price
$219,000
4 units · $55K per unit
Monthly cash flow
$260
at 20% down, 7%
Estimated rent
$3,000/mo
medium confidence
Break-even price
$267,764
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

A four-plex in Austin at $219K, about $55K per door, sitting 209 days on the market with a one-sentence description and no rents, no expenses and no utility info. Our model shows about $260/mo cash flow and a 7.8% cap at the ask using mid-range 1-bed rents of $750, but that rests on estimated rents and unverified taxes, since we couldn't match a county parcel. The photos show dated, original-looking kitchens and baths, a stone basement with shared coin laundry, and window AC units, so budget for turnover work. First, get the rent roll, leases, taxes, heat setup and rental license showing four legal units. Worth a showing only if the rents are real and the taxes don't blow up the numbers.

Things to consider

  1. Rents and expenses are unverified Our cash flow of about $260/mo uses estimated $750 rents and unverified taxes. Real rents or higher taxes could erase it.
  2. Unit count and legality need confirming We couldn't match a county record, so four legal units isn't verified. An unlicensed unit cuts income and creates risk.
  3. Deferred maintenance and old finishes Dated kitchens and baths and weathered exterior suggest rehab and turnover costs that eat into returns.From photo 9
  4. Long time on market gives leverage At 209 days, the seller may accept a lower price, and the break-even price of about $268K leaves room to bid below ask.
  5. Heating and utilities unknown If the owner pays heat for four units, expenses jump well beyond our model. Window AC suggests separate or limited systems.From photo 1

From the photos

Listing photo 9
1 of 8Concern

Kitchens appear original or very old: a farmhouse-style sink, dated cabinets, a small apartment-size electric range and an older fridge

Listing photo 7
2 of 8Concern

Bathroom has a worn tub and surround with stained, failing caulk and peeling flooring edges; appears dated

Listing photo 3
3 of 8Check

Basement has exposed stone walls and a rough floor with coin washer and dryer; check for moisture and foundation condition

Listing photo 4
4 of 8Concern

Steep, narrow basement stairs with a plywood-covered wall; appears rough and worth a safety and moisture check

Listing photo 1
5 of 8Check

Window AC units are visible in several windows, suggesting no central air; the shingle roof looks serviceable, but its age is unknown

Listing photo 2
6 of 8Concern

Wood-shingle-style siding with peeling paint and a wooden lattice balcony or deck on the upper level; appears to need maintenance

Listing photo 5
7 of 8Plus

Unit interiors show worn carpet and basic finishes but appear clean and livable, with wood trim in decent shape

Listing photo 1
8 of 8Check

No photos of the boiler or furnace, electrical panels, or most of the units; can't confirm four kitchens or meters

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

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

Down payment %
Offer $
Management
Interest rate %
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
$219,000
Cash to close
$50,370
Price per unit
$54,750
GRM
6.1

Each month

Cash flow
$260/mo
Cash-on-cash
6.2%
Cap rate
7.8%
DSCR
1.22×

Break-even

Price that breaks even
$267,764
Rent that breaks even
$2,663/mo

Long run

Year 30: property vs stocks
$1.31M vs $383K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$3,000
Vacancy (6%)−$180
Collected$2,820
Property tax Listing−$100
Insurance Estimate−$385
Water, sewer, trash Estimate−$340
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$240
Capital reserve (9% of rent)−$270
Net operating income$1,425
Mortgage (principal + interest)−$1,166
Cash flow$260
Principal paid down (equity, not cash)$148

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$1,313,756
Your equity when you sell
$499,676

Sells for $531,570 (value up 3% a year), minus 6% selling cost ($31,894). Rent paid down $175,200 of loan.

Rental profits, invested at 7%
$814,080

$351,031 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$383,429
Cash to close, invested at 7%
$383,429

$50,370 put into an index fund instead of the down payment and closing costs.

The building comes out $930,327 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 $1.31M, stocks $383K. The property wins.

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.

1 bed / 1 bath estimate $750/mo · range $500–$1,025

AddressRentBd / BaSq ftDistanceListedMatch
814 9th Ave Sw Apt B, Austin 55912 off market $600 1 / 1 — 0.2 mi 2026-06-26 94%
1404 2nd Ave SW, Austin 55912 off market $750 1 / 1 — 0.4 mi 2026-08-04 93%
108 2nd St SW, Apt 6, Austin 55912 off market $675 1 / 1 — 0.5 mi 2026-06-26 93%
108 2nd St SW, Apt 5, Austin 55912 off market $300 1 / 1 — 0.5 mi 2026-03-19 93%
403 4th Ave NW, Austin 55912 off market $625 1 / 1 — 0.7 mi 2026-01-29 93%
200 E Oakland Ave Apt J, Austin 55912 off market $650 1 / 1 — 0.7 mi 2026-03-14 93%
807 1st Dr NW, Unit A, Austin 55912 off market $1,200 1 / 1 — 0.9 mi 2026-07-10 93%
807 1st Dr NW, Austin 55912 off market $1,300 1 / 1 — 0.9 mi 2026-03-07 93%
814 9th Ave Sw Apt A, Austin 55912 $750 2 / 1 — 0.2 mi 2026-10-05 84%
814 9th Ave SW, Austin 55912 off market $750 2 / 1 — 0.2 mi 2026-01-17 84%

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

  • mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 610 8TH ST SW
  • mediumDescription claims positive cash flow but gives no rents, expenses or numbers to back it up Listing says: Good investment opportunity with positive cash flow. · AI review
  • mediumFour units in about 2,400 sq ft means small units; confirm each is legal, licensed and has proper egress Based on: data: listing.unit_count · AI review
  • mediumBuilt 1900 with a stone basement foundation; needs a structural and moisture inspection Based on: photo 3 · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 209 days on market
  • 209 days on market gives room to negotiate on price Based on: data: listing.days_on_market · AI review
  • No rent cap in Austin, so rents can move to market after turnover and updates Based on: data: underwriting.rent_rule · AI review
  • Coin-operated laundry on site could add small income if it works and is owned Based on: photo 3 · AI review

Questions for the agent

  • Can I see the current rent roll, leases and last 12 months of expenses?
  • How is each unit heated and metered, and who pays heat, water and electric?
  • What are the annual taxes and any special assessments?
  • Is there a current rental license for four units, and when was the last inspection?
  • Ages of the roof, boiler or furnaces, water heaters and electrical panels?
  • Why has it sat 209 days, and have there been price cuts or failed inspections?

Bottom line

Cheap per door and negotiable after 209 days, but with no rents or expenses given, treat the claimed cash flow as unproven until the rent roll and license check out. 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.$1,196
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$4,622
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$340
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 1900: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-03-10 (209 days); down $21,000 (8.8%) from the first ask of $240,000; last sold for $28,000 on 2003-01-31.

DateEventPrice
Price changed$219,000
Price changed$228,500
Listed$240,000
Removed$139,900
Removed$119,900
Removed$119,900
Removed$139,900
Removed$119,900
Removed$139,900
Removed$119,900
Listed$119,900
Listed$119,900
Removed$139,900
Listed$139,900
Listed$139,900
Removed$139,900
Listed$139,900
Removed$139,900
Listed$139,900
Sold$28,000
Listed$32,000
Sold public record$39,900

From the listing Listing

Listed asfour plex
Property tax, 2026$1,196
CountyMower
Parcel number345650140

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 Austin on rental licensing before you buy.