6761 County Rd

Triplex · 3 units: 2 bed / 1.5 bath and 1 bed / 1.5 bath ×2 unit split estimated · 2,496 sq ft

Far off

55 photos

Photos, via Realtor.com.

Asking price: $689,900
Monthly cash flow: −$2,731
Estimated rent: $3,425/mo
Break-even price: $176,738

Adjust the numbers See the full breakdown

From the listing

Offered completely turnkey, this exceptional triplex comes with two fully furnished units, making it easy to begin enjoying the Whitefish Chain and the Northwoods from day one. After years of creating lasting memories here, the current owners are ready to begin their next adventure traveling the world and are excited to pass the torch to the next buyers. No detail was overlooked in this meticulously maintained and thoughtfully updated property, where quality craftsmanship and pride of ownership are evident throughout. Each of the three spacious units features warm tongue-and-groove finishes, an inviting Up North aesthetic and plentiful storage. Each unit also has its own dedicated forced-air furnace, air conditioning, on-demand water heater, supplemental baseboard heat, and private in-unit washer and dryer. The two main-level units each offer a private patio, while the upper-level unit enjoys a deck overlooking the woods. Outside, you'll find a level lot with beautiful outdoor space, tidy landscaping, ample parking, and an impressive five-stall pole building with electricity, pristine concrete floors, and dedicated storage for each unit, providing plenty of room for vehicles, boats, and recreational equipment. Located just three minutes from a full-service marina, this property offers quick access to the Whitefish Chain, Crosslake, championship golf, shopping, dining, and endless four-season recreation. Whether you're looking for a high-quality investment, an owner-occupied income property, or the ultimate Up North getaway, this one-of-a-kind property is ready to enjoy from the moment you arrive.

Description from Realtor.com, MLS #7100000. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a lake-country triplex that reads more like a vacation property than a rental. It's priced at $689,900, but our numbers say it breaks even near $176,738 and loses about $2,731 a month at asking, with a 1.6% cap rate. Our rent estimates are only $1,125 to $1,150 a unit, and the listing gives no actual rents, so the price rests on seasonal or short-term use that isn't documented. Ask for a rent roll, 12 months of income and expenses, and how the units are actually rented. Also confirm taxes and the legal unit count, since we couldn't match the parcel. Worth a showing only if the seller will come down hard or can prove strong rental income.

Things to consider

Price is far above what rents support Cash flow is about -$2,731 a month at asking and break-even price is $176,738. You'd need roughly four times our rent estimates or a big price cut.
Income is undocumented A furnished, lifestyle-marketed triplex can have strong seasonal income or none. Without a rent roll the price can't be justified.Listing says: “Offered completely turnkey, this exceptional triplex comes with two fully furnished units”
Long time on market 95 days suggests buyers see the same gap between price and income. Leverage for a lower offer.
Unit count and taxes not verified Taxes and the legal unit count affect financing, insurance and expenses. Rural parcels may also carry septic and well costs.
Separate systems favor tenant-paid utilities Individual furnaces, water heaters and laundry make it easy to keep owner expenses low.Listing says: “Each unit also has its own dedicated forced-air furnace, air conditioning, on-demand water heater”

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

doneMeticulously maintained and updated property overallListing says: meticulously maintained and thoughtfully updated property, where quality craftsmanship and pride of ownership are evident throughout

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: $689,900
Cash to close: $158,677
Price per unit: $229,967
GRM: 16.8

Each month

Cash flow: −$2,731/mo
Cash-on-cash: −20.7%
Cap rate: 1.6%
DSCR: 0.26×

Break-even

Price that breaks even: $176,738
Rent that breaks even: $6,839/mo

Long run

Year 30: property vs stocks: $1.57M vs $4.07M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$3,425
Vacancy (6%)	−$206
Collected	$3,220
Property tax Estimate	−$1,207
Insurance Estimate	−$277
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (7% of rent)	−$240
Capital reserve (7% of rent)	−$240
Net operating income	$941
Mortgage (principal + interest)	−$3,672
Cash flow	−$2,731
Principal paid down (equity, not cash)	$467

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$1,574,094

Your equity when you sell: $1,574,094
Rental profits, invested at 7%: $0

Same money in stocks$4,072,619

Cash to close, invested at 7%: $1,207,890
Monthly shortfalls, invested: $2,864,729

Stocks come out $2,498,525 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 $1.57M, stocks $4.07M. 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 / 1.5 bath estimate $1,125/mo · range $850–$1,400

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
3800 Agate Ln, Pequot Lakes 56472 off market	$1,027	3 / 1	—	0.3 mi	2026-06-01	84%
3761 Obsidian Ln, Lot B07, Pequot Lakes 56472 off market	$1,000	3 / 2	—	0.3 mi	2026-07-31	84%
3657 Obsidian Ln, Pequot Lakes 56472 off market	$995	3 / 2	—	0.3 mi	2026-07-29	84%
3626 Obsidian Ln, Pequot Lakes 56472 off market	$1,050	3 / 2	—	0.4 mi	2026-06-02	84%
3849 Ballards Blvd, Unit 1, Pequot Lakes 56472 off market	$1,750	3 / 2.5	1,750	1.1 mi	2023-02-28	79%
30917 S Oak St, Pequot Lakes 56472	$1,175	2 / 1	—	0.5 mi	2026-10-05	77%
2751 76th St SW, Pequot Lakes 56472 off market	$765	1 / 1	—	7.9 mi	2026-02-05	69%
300 Norway Ave, Pine River 56474 off market	$670	1 / 1	—	9.1 mi	2024-05-03	66%
23684 County Rd, 4, Nisswa 56468	$1,265	3 / 2	—	9.6 mi	2026-07-24	65%
2476 76th St SW, Pequot Lakes 56472 off market	$995	2 / 1	—	7.1 mi	2026-06-08	64%

1 bed / 1.5 bath estimate $1,150/mo · range $800–$1,500

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
2751 76th St SW, Pequot Lakes 56472 off market	$765	1 / 1	—	7.9 mi	2026-02-05	81%
300 Norway Ave, Pine River 56474 off market	$670	1 / 1	—	9.1 mi	2024-05-03	79%
Pine Wood Rd, Brainerd 56401 off market	$1,060	1 / 1	—	14.1 mi	2026-03-21	72%
3800 Agate Ln, Pequot Lakes 56472 off market	$1,027	3 / 1	—	0.3 mi	2026-06-01	71%
3761 Obsidian Ln, Lot B07, Pequot Lakes 56472 off market	$1,000	3 / 2	—	0.3 mi	2026-07-31	71%
3657 Obsidian Ln, Pequot Lakes 56472 off market	$995	3 / 2	—	0.3 mi	2026-07-29	71%
3626 Obsidian Ln, Pequot Lakes 56472 off market	$1,050	3 / 2	—	0.4 mi	2026-06-02	71%
24186 Smiley Rd, Unit 218, Nisswa 56468 off market	$995	0 / 1	400	7.0 mi	2026-08-26	70%
36377 White Pine Knl, Pequot Lakes 56472 off market	$1,900	1 / 1	1,300	5.5 mi	2026-09-09	67%
3849 Ballards Blvd, Unit 1, Pequot Lakes 56472 off market	$1,750	3 / 2.5	1,750	1.1 mi	2023-02-28	67%

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

highNo rents, occupancy or income history given; the pitch is lifestyle, not cash flow Listing says: Offered completely turnkey, this exceptional triplex comes with two fully furnished units · 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 6761 COUNTY RD
mediumAsking is $513,162 above the price where cash flow breaks even ($176,738) at the default scenario. Based on: Derived: price $689,900 vs. break-even $176,738
mediumFurnished units suggest seasonal or short-term use, which can mean uneven income and different licensing and tax rules Listing says: two fully furnished units, making it easy to begin enjoying the Whitefish Chain · AI review
mediumUnit count and taxes unverified; confirm the building is legally a triplex Based on: data: rule_flags · AI review
lowFour of the five heat sources per unit include electric baseboard, which is expensive to run if tenants don't pay Listing says: supplemental baseboard heat · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 95 days on market
Each unit has its own furnace, A/C, water heater and laundry, so tenants can pay their own utilities and the owner avoids shared systems Listing says: Each unit also has its own dedicated forced-air furnace, air conditioning, on-demand water heater · AI review
Five-stall pole building could earn storage or boat-parking rent beyond the unit rents Listing says: impressive five-stall pole building with electricity, pristine concrete floors · AI review
95 days on market gives room to negotiate Based on: data: listing.days_on_market · AI review

Questions for the agent

What were gross rents and occupancy for the last 24 months, and were the units rented short-term or on annual leases?
Is the furniture included in the price, and what is it worth?
What are the real property taxes, and is the property classed as residential or commercial or seasonal?
Who pays utilities, and what were the trailing 12 months of expenses?
Are the units licensed and permitted as three separate dwellings, and what about the septic system and well?
Why has it sat 95 days, and has the price changed?

Bottom line

Nice property, but at $689,900 the rents we can support don't come close; it works as a getaway, not an investment, unless the seller proves much higher income. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. No tax record found; 2.1% of price.	$14,488
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,324
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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. "fully updated" in the description: -1 pts each	7% / 7%

Price history Realtor.com

On the market since 2026-07-02 (95 days); down $80,000 (10.4%) from the first ask of $769,900; last sold for $90,000 on 2014-01-01.

Date	Event	Price
2026-08-28	Price changed	$689,900
2026-07-23	Price changed	$724,900
2026-07-02	Listed	$769,900
2014-01-01	Sold public record	$90,000
2012-03-31	Removed	$145,000
2012-03-30	Removed	$79,900
2010-06-29	Removed	$79,900
2009-08-13	Listed	$79,900
2009-07-16	Listed	$145,000

From the listing Listing

Listed as	triplex
Property tax, 2026	$1,564
County	Crow Wing
Parcel number	68290610

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 Pequot Lakes on rental licensing before you buy.