Photos, via Realtor.com.
- Asking price
- $79,500 2 units · $40K per unit
- Monthly cash flow
- $116 at 20% down, 7%
- Estimated rent
- $1,275/mo high confidence
- Break-even price
- $101,347 where cash flow hits $0
First look
This is a $79,500 over/under in Madison with the owner living downstairs and the upstairs 2-bed vacant, so there is no real rent roll. The only income stated is $800 for the upper, which is above our $650 estimate for a 2-bed, so don't trust it until you see a lease or past deposits. Our numbers show about $116/month cash flow and an 8.1% cap at the ask, which is thin, and utilities are all on one owner-paid bill, so that cost needs real figures. At 126 days on market and under $100K, find out why first, then get the utility bills and a look at the foundation and wiring. It's worth a showing only if the bills and the inspection hold up.
Things to consider
- Utilities are the biggest unknown The owner pays water, sewer, electric and trash on a single bill, and gas is only estimated. On rents near $650 to $800, a high bill erases the cash flow.Listing says: “THE UTILITY EXPENSES ARE WATER, SEWER, ELECTRICITY, AND GARBAGE ARE ALL ON ONE BILL.”
- The $800 rent is higher than our estimate Our 2-bed estimate is $650. If the upper rents for less, cash flow drops below the $116/month shown at the ask.
- Only one unit is producing income The owner occupies the main floor, so you would have to find a tenant or live there yourself. Vacancy and turnover risk are on you from day one.Listing says: “MAIN FLOOR IS THE OWNER THE TOP RENTAL IS NOW VACANT”
- Price under $100K needs an explanation Low prices often mean hidden condition, title or legal issues. Get the reason before spending on inspections.
- Recent exterior work helps, but interiors look dated The new roof and siding reduce big near-term costs. Kitchens, flooring and the upstairs look original, so budget for turnover updates.Listing says: “The shingles and siding are just 2 years old!”
- Taxes and unit count are unverified The county record did not match, so taxes in our underwriting may be off. Verify the legal unit count and rental license.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Upper (2 bed): $800 (vacant)Listing says: RENTS OUT THE UP APARTMENT FOR 800 MONTH
Condition and repairs
- doneShingles and siding replacedListing says: The shingles and siding are just 2 years old!
- doneMain floor bathroom remodeledListing says: The main floor has 1 Bedroom and a newly remodeled bathroom.
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
- $79,500
- Cash to close
- $10,335
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- $19/mo
- Cash-on-cash
- 2.2%
- Cap rate
- 8.1%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $82,350
- Rent that breaks even
- $1,251/mo
Long run
- Year 30: property vs stocks
- $426K vs $79K
- Cash flow turns positive
- year 1
The deal
- Price
- $79,500
- Cash to close
- $10,335
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- −$89/mo
- Cash-on-cash
- −10.4%
- Cap rate
- 6.5%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $65,883
- Rent that breaks even
- $1,405/mo
Long run
- Year 30: property vs stocks
- $281K vs $102K
- Cash flow turns positive
- year 5
The deal
- Price
- $69,500
- Cash to close
- $9,035
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- $84/mo
- Cash-on-cash
- 11.2%
- Cap rate
- 9.3%
- DSCR
- 1.18×
Break-even
- Price that breaks even
- $82,350
- Rent that breaks even
- $1,166/mo
Long run
- Year 30: property vs stocks
- $473K vs $69K
- Cash flow turns positive
- year 1
The deal
- Price
- $69,500
- Cash to close
- $9,035
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- −$24/mo
- Cash-on-cash
- −3.1%
- Cap rate
- 7.5%
- DSCR
- 0.95×
Break-even
- Price that breaks even
- $65,883
- Rent that breaks even
- $1,310/mo
Long run
- Year 30: property vs stocks
- $308K vs $72K
- Cash flow turns positive
- year 4
The deal
- Price
- $79,500
- Cash to close
- $18,285
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- $116/mo
- Cash-on-cash
- 7.6%
- Cap rate
- 8.1%
- DSCR
- 1.27×
Break-even
- Price that breaks even
- $101,347
- Rent that breaks even
- $1,124/mo
Long run
- Year 30: property vs stocks
- $500K vs $139K
- Cash flow turns positive
- year 1
The deal
- Price
- $79,500
- Cash to close
- $18,285
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- $8/mo
- Cash-on-cash
- 0.6%
- Cap rate
- 6.5%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $81,081
- Rent that breaks even
- $1,263/mo
Long run
- Year 30: property vs stocks
- $332K vs $139K
- Cash flow turns positive
- year 1
The deal
- Price
- $69,500
- Cash to close
- $15,985
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- $170/mo
- Cash-on-cash
- 12.7%
- Cap rate
- 9.3%
- DSCR
- 1.46×
Break-even
- Price that breaks even
- $101,347
- Rent that breaks even
- $1,055/mo
Long run
- Year 30: property vs stocks
- $538K vs $122K
- Cash flow turns positive
- year 1
The deal
- Price
- $69,500
- Cash to close
- $15,985
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- $62/mo
- Cash-on-cash
- 4.6%
- Cap rate
- 7.5%
- DSCR
- 1.17×
Break-even
- Price that breaks even
- $81,081
- Rent that breaks even
- $1,185/mo
Long run
- Year 30: property vs stocks
- $370K vs $122K
- Cash flow turns positive
- year 1
The deal
- Price
- $79,500
- Cash to close
- $22,260
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- $143/mo
- Cash-on-cash
- 7.7%
- Cap rate
- 8.1%
- DSCR
- 1.36×
Break-even
- Price that breaks even
- $108,103
- Rent that breaks even
- $1,090/mo
Long run
- Year 30: property vs stocks
- $530K vs $169K
- Cash flow turns positive
- year 1
The deal
- Price
- $79,500
- Cash to close
- $22,260
- Price per unit
- $39,750
- GRM
- 5.2
Each month
- Cash flow
- $35/mo
- Cash-on-cash
- 1.9%
- Cap rate
- 6.5%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $86,486
- Rent that breaks even
- $1,224/mo
Long run
- Year 30: property vs stocks
- $362K vs $169K
- Cash flow turns positive
- year 1
The deal
- Price
- $69,500
- Cash to close
- $19,460
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- $193/mo
- Cash-on-cash
- 11.9%
- Cap rate
- 9.3%
- DSCR
- 1.56×
Break-even
- Price that breaks even
- $108,103
- Rent that breaks even
- $1,025/mo
Long run
- Year 30: property vs stocks
- $564K vs $148K
- Cash flow turns positive
- year 1
The deal
- Price
- $69,500
- Cash to close
- $19,460
- Price per unit
- $34,750
- GRM
- 4.5
Each month
- Cash flow
- $85/mo
- Cash-on-cash
- 5.2%
- Cap rate
- 7.5%
- DSCR
- 1.24×
Break-even
- Price that breaks even
- $86,486
- Rent that breaks even
- $1,151/mo
Long run
- Year 30: property vs stocks
- $396K vs $148K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$476 |
| PMI | −$45 |
| Cash flow | $19 |
| Principal paid down (equity, not cash) | $61 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$476 |
| PMI | −$45 |
| Cash flow | −$89 |
| Principal paid down (equity, not cash) | $61 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$416 |
| PMI | −$39 |
| Cash flow | $84 |
| Principal paid down (equity, not cash) | $53 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$416 |
| PMI | −$39 |
| Cash flow | −$24 |
| Principal paid down (equity, not cash) | $53 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$423 |
| Cash flow | $116 |
| Principal paid down (equity, not cash) | $54 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$423 |
| Cash flow | $8 |
| Principal paid down (equity, not cash) | $54 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$370 |
| Cash flow | $170 |
| Principal paid down (equity, not cash) | $47 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$370 |
| Cash flow | $62 |
| Principal paid down (equity, not cash) | $47 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$397 |
| Cash flow | $143 |
| Principal paid down (equity, not cash) | $50 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$397 |
| Cash flow | $35 |
| Principal paid down (equity, not cash) | $50 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Net operating income | $539 |
| Mortgage (principal + interest) | −$347 |
| Cash flow | $193 |
| Principal paid down (equity, not cash) | $44 |
| Rent | $1,275 |
| Vacancy (6%) | −$76 |
| Collected | $1,198 |
| Property tax Listing | −$31 |
| Insurance Estimate | −$181 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$102 |
| Capital reserve (9% of rent) | −$115 |
| Property management | −$108 |
| Net operating income | $432 |
| Mortgage (principal + interest) | −$347 |
| Cash flow | $85 |
| Principal paid down (equity, not cash) | $44 |
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
- $181,389
- Rental profits, invested at 7%
- $244,893
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $71,550 of loan.
$112,954 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $78,673
$10,335 put into an index fund instead of the down payment and closing costs.
The building comes out $347,610 ahead after 30 years.
- Your equity when you sell
- $181,389
- Rental profits, invested at 7%
- $99,941
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $71,550 of loan.
$54,871 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $78,673
- Monthly shortfalls, invested
- $22,831
$10,335 put into an index fund instead of the down payment and closing costs.
$3,497 you'd have paid in while the building lost money, invested instead.
The building comes out $179,826 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $314,506
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $62,550 of loan.
$134,780 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $68,777
$9,035 put into an index fund instead of the down payment and closing costs.
The building comes out $404,303 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $149,927
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $62,550 of loan.
$73,663 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $68,777
- Monthly shortfalls, invested
- $3,205
$9,035 put into an index fund instead of the down payment and closing costs.
$464 you'd have paid in while the building lost money, invested instead.
The building comes out $236,519 ahead after 30 years.
- Your equity when you sell
- $181,389
- Rental profits, invested at 7%
- $318,684
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $63,600 of loan.
$134,141 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $139,190
$18,285 put into an index fund instead of the down payment and closing costs.
The building comes out $360,883 ahead after 30 years.
- Your equity when you sell
- $181,389
- Rental profits, invested at 7%
- $150,900
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $63,600 of loan.
$72,561 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $139,190
$18,285 put into an index fund instead of the down payment and closing costs.
The building comes out $193,100 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $379,015
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $55,600 of loan.
$153,302 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $121,682
$15,985 put into an index fund instead of the down payment and closing costs.
The building comes out $415,906 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $211,232
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $55,600 of loan.
$91,721 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $121,682
$15,985 put into an index fund instead of the down payment and closing costs.
The building comes out $248,123 ahead after 30 years.
- Your equity when you sell
- $181,389
- Rental profits, invested at 7%
- $348,661
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $59,625 of loan.
$143,662 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $169,449
$22,260 put into an index fund instead of the down payment and closing costs.
The building comes out $360,601 ahead after 30 years.
- Your equity when you sell
- $181,389
- Rental profits, invested at 7%
- $180,877
Sells for $192,967 (value up 3% a year), minus 6% selling cost ($11,578). Rent paid down $59,625 of loan.
$82,081 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $169,449
$22,260 put into an index fund instead of the down payment and closing costs.
The building comes out $192,818 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $405,222
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $52,125 of loan.
$161,625 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,134
$19,460 put into an index fund instead of the down payment and closing costs.
The building comes out $415,661 ahead after 30 years.
- Your equity when you sell
- $158,573
- Rental profits, invested at 7%
- $237,438
Sells for $168,695 (value up 3% a year), minus 6% selling cost ($10,122). Rent paid down $52,125 of loan.
$100,044 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,134
$19,460 put into an index fund instead of the down payment and closing costs.
The building comes out $247,877 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 $426K, stocks $79K. The property wins.
Year 30 (loan paid off): property $281K, stocks $102K. The property wins.
Year 30 (loan paid off): property $473K, stocks $69K. The property wins.
Year 30 (loan paid off): property $308K, stocks $72K. The property wins.
Year 30 (loan paid off): property $500K, stocks $139K. The property wins.
Year 30 (loan paid off): property $332K, stocks $139K. The property wins.
Year 30 (loan paid off): property $538K, stocks $122K. The property wins.
Year 30 (loan paid off): property $370K, stocks $122K. The property wins.
Year 30 (loan paid off): property $530K, stocks $169K. The property wins.
Year 30 (loan paid off): property $362K, stocks $169K. The property wins.
Year 30 (loan paid off): property $564K, stocks $148K. The property wins.
Year 30 (loan paid off): property $396K, stocks $148K. 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.
2 bed / 1 bath estimate $650/mo · range $625–$650
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 517 Park Ave, Unit 12, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 99% |
| 408 Park Ave, Apt 8, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 98% |
| 408 Park Ave, Apt 2, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 98% |
| 408 Park Ave, Apt 7, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 98% |
| 207 9th Ave, Apt 201, Madison 56256 off market | $650 | 2 / 1 | 0.2 mi | 98% |
| 207 9th Ave, Apt 202, Madison 56256 off market | $600 | 2 / 1 | 0.2 mi | 98% |
| 207 9th Ave, Apt 204, Madison 56256 off market | $600 | 2 / 1 | 0.2 mi | 98% |
| 213 9th Ave, Apt 202, Madison 56256 off market | $650 | 2 / 1 | 0.2 mi | 94% |
| 213 9th Ave, Apt 106, Madison 56256 off market | $675 | 2 / 1 | 0.2 mi | 94% |
| 213 9th Ave, Apt 206, Madison 56256 off market | $650 | 2 / 1 | 0.2 mi | 94% |
1 bed / 1 bath estimate $625/mo · range $600–$650
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 207 9th Ave, Apt 103, Madison 56256 off market | $650 | 1 / 1 | 0.2 mi | 94% |
| 517 Park Ave, Unit 11, Madison 56256 off market | $600 | 1 / 1 | 0.7 mi | 94% |
| 517 Pleasant Dr, Apt 11, Madison 56256 off market | $600 | 1 / 1 | 0.7 mi | 93% |
| 408 Park Ave, Madison 56256 off market | $600 | 1 / 1 | 0.7 mi | 93% |
| 213 9th Ave, Apt 103, Madison 56256 off market | $600 | 1 / 1 | 0.2 mi | 93% |
| 207 And 213 9th Ave, Madison 56256 off market | $600 | 1 / 1 | 0.2 mi | 93% |
| 517 Park Ave, Unit 12, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 89% |
| 408 Park Ave, Apt 8, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 89% |
| 408 Park Ave, Apt 2, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 89% |
| 408 Park Ave, Apt 7, Madison 56256 off market | $650 | 2 / 1 | 0.7 mi | 89% |
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
- highPriced under $100K: usually means major repairs, a fire or condemned building, a contract-for-deed or partial-interest sale, or a listing error. Find out why before anything else. Based on: Listing data: asking $79,500
- highOwner pays water, sewer, electric and trash on one bill, and the gas figure is only an estimate. Real costs are unknown. Listing says: WATER, SEWER, ELECTRICITY, AND GARBAGE ARE ALL ON ONE BILL · 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 617 3RD ST W
- mediumOnly one stated rent, and it is for a vacant unit. It is above our 2-bed estimate of $650, so it may not hold for a new tenant. Based on: data: rent_estimate · AI review
- mediumOwner-occupied lower unit, so the building has no current rent from the main floor. Plan on rent at market or a different use after closing. Listing says: MAIN FLOOR IS THE OWNER THE TOP RENTAL IS NOW VACANT · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 126 days on market
- House-hack: live in one unit and rent the other, or rent both. Listing says: This home could be used as your residence with either the upper or lower being rented out · AI review
- Roof and siding are about 2 years old, which lowers near-term capital needs. Listing says: The shingles and siding are just 2 years old! · AI review
Questions for the agent
- Can I see 12 months of the combined utility bill and the gas bills?
- Who was the upstairs tenant, what lease did they have, and did they actually pay $800?
- Why is the price under $100K? Any liens, condition issues or title problems?
- What are the property taxes, and are there any special assessments?
- Are there separate meters, or is everything on one electric and water account? What is the heating system and its age?
- Does the city require a rental license and inspection for this building?
Bottom line
Cheap, recently re-roofed over/under with thin numbers; only worth pursuing if the utility bills and a real rent for the upper 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. | $372 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,176 |
| 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 1900: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-01 (126 days).
| Date | Event | Price |
|---|---|---|
| Relisted | $79,500 | |
| Removed | — | |
| Listed | $79,500 |
From the listing Listing
| Listed as | duplex up and down |
| Property tax, 2026 | $372 |
| County | Lac qui Parle |
| Parcel number | 540299000 |
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 Madison on rental licensing before you buy.