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802 Le Hillier St

Duplex · 2 units: 4 bed / 1.5 bath and 3 bed / 1.5 bath unit split estimated · 2,550 sq ft

Mankato, MN · View the listing ↗

Cash flows
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Photos, via Realtor.com.

Asking price
$249,900
2 units · $125K per unit
Monthly cash flow
$739
at 20% down, 7%
Estimated rent
$3,550/mo
medium confidence
Break-even price
$388,772
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

A Mankato duplex with a 4-bed/2-bath unit and a 3-bed/1-bath unit, asking $249,900 after 116 days on market. Our estimate shows about $739/month cash flow and a 9.9% cap rate at the ask, but that rests on our rent estimates and unverified taxes. The listing gives no actual rents, no lease terms, no utility split and no roof, furnace or panel details. Photos show clean, cosmetic updates (vinyl plank, fresh paint, newer carpet), which can hide systems age. Get the rent roll, tax bill and mechanical ages first. If rents are near our $2,100 and $1,450 mid estimates, it is worth a showing.

Things to consider

  1. Rents are unverified Cash flow of $739/month depends on our estimates of $2,100 and $1,450. Actual rents could be lower, and the listing states none.
  2. Taxes not confirmed The parcel did not match, so tax and unit count are assumptions. A higher investor tax bill would cut cash flow.
  3. Big units mean heavier wear Seven bedrooms across two units means more tenants and more turnover costs. Budget higher repairs and reserves.
  4. Systems age unknown Photos show cosmetic updates only. A 1958 build may have older roof, furnace and electrical that cost real money.
  5. Negotiating room 116 days on market suggests the seller may accept a lower price, improving returns.

From the photos

Listing photo 1
1 of 7Plus

Bedroom carpet looks newer and clean, walls freshly painted, with a textured ceiling; large room with two closets

Listing photo 4
2 of 7Plus

Bathroom has a one-piece tub surround, newer vanity and wood-look vinyl flooring; appears updated and low maintenance

Listing photo 5
3 of 7Check

Kitchen has original-style oak cabinets with new laminate counters and vinyl plank flooring; a cosmetic refresh rather than full remodel

Listing photo 8
4 of 7Concern

Second bathroom has older beige tub surround and dated fixtures, not updated like the other bath

Listing photo 10
5 of 7Check

Living room has new vinyl plank flooring and large windows that appear to be older single-pane style with newer blinds; check window efficiency

Listing photo 9
6 of 7Check

Floor vents suggest forced-air heat, but no furnace, water heater, panel or roof photos were shown

Listing photo 7
7 of 7Check

Photo 7 shows a separate door to the exterior from the kitchen, consistent with private entrances; confirm separate access for each unit

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

Condition and repairs

  • doneNew refrigerator in Unit 1Listing says: a new refrigerator

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
$249,900
Cash to close
$57,477
Price per unit
$124,950
GRM
5.9

Each month

Cash flow
$739/mo
Cash-on-cash
15.4%
Cap rate
9.9%
DSCR
1.56×

Break-even

Price that breaks even
$388,772
Rent that breaks even
$2,602/mo

Long run

Year 30: property vs stocks
$2.22M vs $438K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$3,550
Vacancy (6%)−$213
Collected$3,337
Property tax Listing−$267
Insurance Estimate−$203
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$284
Capital reserve (8% of rent)−$284
Net operating income$2,069
Mortgage (principal + interest)−$1,330
Cash flow$739
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$2,216,708
Your equity when you sell
$570,179

Sells for $606,573 (value up 3% a year), minus 6% selling cost ($36,394). Rent paid down $199,920 of loan.

Rental profits, invested at 7%
$1,646,529

$668,508 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$437,530
Cash to close, invested at 7%
$437,530

$57,477 put into an index fund instead of the down payment and closing costs.

The building comes out $1,779,178 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 $2.22M, stocks $438K. 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.

4 bed / 1.5 bath estimate $2,100/mo · range $1,825–$2,375

AddressRentBd / BaSq ftDistanceListedMatch
526 S 2nd St, Apt 3, Mankato 56001 $1,980 4 / 2 — 1.9 mi 2026-10-01 89%
102 S 5th St, Apt 5, Mankato 56001 off market $1,695 4 / 2 — 2.3 mi 2026-05-06 88%
224 James Ave, Mankato 56001 $1,979 4 / 2 1,700 1.8 mi 2026-03-03 87%
520 S 2nd St, Mankato 56001 $2,080 4 / 1 1,525 1.9 mi 2026-06-01 85%
324 James Ave, Mankato 56001 off market $1,829 4 / 2 1,500 1.8 mi 2025-02-13 85%
529 S 5th St, Mankato 56001 off market $1,600 4 / 1 1,500 2.1 mi 2025-10-25 85%
216 James Ave, Mankato 56001 $2,200 4 / 2 1,200 1.8 mi 2026-04-16 82%
210 James Ave, Mankato 56001 off market $1,600 4 / 2 1,200 1.8 mi 2025-06-19 82%
526 S 2nd St, Apt 1, Mankato 56001 $2,475 5 / 2 — 1.9 mi 2022-11-15 79%
14 Columbia Ct, North, Mankato 56003 off market $2,400 4 / 2 2,272 1.3 mi 2022-05-23 79%

3 bed / 1.5 bath estimate $1,450/mo · range $1,250–$1,700

AddressRentBd / BaSq ftDistanceListedMatch
120 Locust St, Apt 7, Mankato 56001 $1,148 3 / 2 — 2.3 mi 2024-05-02 88%
226 Marcy /Lower 3 Bed St, Unit Main, Mankato 56001 $1,485 3 / 1 1,402 0.9 mi 2025-03-25 86%
225/227/229 State St, Mankato 56001 off market $1,375 3 / 1 1,375 1.6 mi 2025-12-06 84%
532 W Wheeler Ave, North, Mankato 56003 off market $1,335 3 / 2 1,395 1.8 mi 2026-06-03 84%
120 Locust St, Apt 5, Mankato 56001 off market $1,150 3 / 1 1,300 2.3 mi 2024-04-16 82%
1103 N 6th St, Mankato 56001 off market $1,745 3 / 2 1,224 3.1 mi 2026-06-06 80%
429 State St, Apt 102, Mankato 56001 $1,100 2 / 1 — 1.4 mi 2024-04-23 80%
408 State St, Apt 101, Mankato 56001 $1,050 2 / 1 — 1.5 mi 2024-04-16 80%
610 Lyndale St, North, Mankato 56003 off market $1,600 3 / 1 2,544 2.3 mi 2026-09-21 80%
117 Cherry St, Mankato 56001 $1,640 3 / 1 950 1.9 mi 2026-06-20 80%

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 802 LE HILLIER ST
  • mediumNo rents, lease terms or occupancy stated despite 'strong rental history' claim Listing says: This duplex offers strong rental history and quality updates. · AI review
  • mediumTaxes and unit count unverified; county parcel not matched, so the tax figure in underwriting is shaky Based on: data: county.tax · AI review
  • lowUtility split and heat type not stated; heat cost could fall on owner Based on: data: county.heat_type · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 116 days on market
  • Our underwriting break-even price is far above the ask, leaving cushion if rents hold Based on: data: underwriting.break_even_price · AI review
  • Unit 1 has its own laundry room and private entrance, which supports rent for a large unit Listing says: a dedicated laundry room · AI review

Questions for the agent

  • What are the current rents and lease end dates for each unit?
  • Who pays heat, water, electric and trash, and are there separate meters?
  • How old are the roof, furnace(s), water heater and electrical panel?
  • Is the property licensed as a rental, and is the second unit legally a duplex?
  • Why has it sat 116 days, and have there been price changes or offers?
  • What are the actual annual taxes and insurance costs?

Bottom line

Numbers look decent on paper and the cosmetics are clean, but with no rents or systems info yet, treat it as unproven until you see the rent roll. 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.$3,200
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,438
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 rate8% / 8%

Price history Realtor.com

On the market since 2026-06-11 (116 days); last sold for $160,000 on 2022-02-14.

DateEventPrice
Relisted$249,900
Removed—
Listed$249,900
Sold$160,000
Sold$160,000
Price changed$160,000
Listed$167,000
Sold public record$50,000

From the listing Listing

Listed asduplex up and down
Property tax, 2026$3,200
CountyBlue Earth
Parcel numberR500814379001

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 Mankato on rental licensing before you buy.