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822 W Maple Ave

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath · 1,447 sq ft

Fergus Falls, MN · View the listing ↗

Cash flows
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Photos courtesy of KELLER WILLIAMS REALTY BRAINERD LAK - Broker, via Realtor.com.

Asking price
$149,900
2 units · $75K per unit
Monthly cash flow
$283
at 20% down, 7%
Estimated rent
$2,125/mo
high confidence
Break-even price
$203,076
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 1928 duplex in Fergus Falls at $149,900, and it has sat 263 days. Our numbers show about $283/month cash flow and an 8.7% cap rate at ask with 20% down, but that uses estimated rents, and taxes are unverified because no county parcel matched. The description gives no rents, no lease status and no utility details, so get the rent roll first. The photos show dated, worn kitchens and baths, and the lower unit looks like a basement apartment, so confirm it is legal with egress. Worth a showing only if actual rents are near our estimates and the taxes check out.

Things to consider

  1. Rents are unknown Our cash flow of $283/month rests on estimated rents. Actual rents and vacancy decide whether the deal works.
  2. Legality of the lower unit An unlicensed or non-egress unit can limit rent, insurance and resale value.Listing says: “The lower level unit includes a separate 2 bedroom apartment”
  3. Interiors need updates Original-looking kitchens and baths mean budget for turnover and repairs before pushing rents.From photo 4
  4. Taxes unverified Taxes are a large expense, and an investor may pay more than the seller. A wrong number changes cash flow.
  5. Long time on market 263 days suggests overpricing or hidden issues, and gives room to negotiate.

From the photos

Listing photo 4
1 of 8Concern

Kitchens appear original: worn painted cabinets, laminate counters, basic electric ranges and drop ceilings. Expect updates to be needed.

Listing photo 5
2 of 8Check

Second kitchen appears worn and heavily used, which supports two separate units.

Listing photo 9
3 of 8Concern

Basement-style bath with a tiled shower, stained concrete-like floor and drop ceiling. Appears dated and may be a lower-level unit.

Listing photo 8
4 of 8Concern

Upper bath has peeling or stained wall finish near the tub and worn flooring. Check for moisture.

Listing photo 1
5 of 8Check

Vinyl siding appears serviceable with a concrete block foundation. No roof, boiler or furnace, or electrical panel is shown.

Listing photo 10
6 of 8Plus

Driveway and an open yard are visible, which gives off-street parking. The listed garage is not shown clearly.

Listing photo 7
7 of 8Check

Carpet and textured ceilings look old but intact in the bedroom. Windows appear older single-hung units.

Listing photo 2
8 of 8Check

Living room photo looks staged or digitally furnished and does not match the other living room photo, so treat it cautiously.

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
$149,900
Cash to close
$34,477
Price per unit
$74,950
GRM
5.9

Each month

Cash flow
$283/mo
Cash-on-cash
9.9%
Cap rate
8.7%
DSCR
1.35×

Break-even

Price that breaks even
$203,076
Rent that breaks even
$1,762/mo

Long run

Year 30: property vs stocks
$1.07M vs $262K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$2,125
Vacancy (6%)−$128
Collected$1,998
Property tax Listing−$166
Insurance Estimate−$180
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$170
Capital reserve (8% of rent)−$170
Net operating income$1,081
Mortgage (principal + interest)−$798
Cash flow$283
Principal paid down (equity, not cash)$102

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$1,065,815
Your equity when you sell
$342,016

Sells for $363,847 (value up 3% a year), minus 6% selling cost ($21,831). Rent paid down $119,920 of loan.

Rental profits, invested at 7%
$723,799

$301,840 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$262,448
Cash to close, invested at 7%
$262,448

$34,477 put into an index fund instead of the down payment and closing costs.

The building comes out $803,367 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 $1.07M, stocks $262K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.

3 bed / 1 bath estimate $1,100/mo · range $1,000–$1,200

AddressRentBd / BaSq ftDistanceListedMatch
913 E Vernon Ave, Fergus Falls 56537 off market $1,295 3 / 1 950 1.7 mi 2026-07-02 89%
541-615 W Lincoln Ave West Lincoln Avenue Fergu… off market $1,025 2 / 1 1,040 0.6 mi 2025-11-06 83%
816 W Laurel St, Fergus Falls 56537 $900 2 / 1 895 0.1 mi 2025-04-02 81%
1004 N Union Ave, Fergus Falls 56537 off market $995 2 / 1 925 0.6 mi 2026-01-31 81%
630 W Linden St, Fergus Falls 56537 off market $1,100 3 / 2 1,500 0.3 mi 2026-06-18 80%
537 W Linden St, Fergus Falls 56537 off market $1,150 3 / 2 1,500 0.4 mi 2026-06-09 79%
706 W Lincoln Ave, Fergus Falls 56537 off market $1,005 3 / 1 1,100 0.4 mi 2026-08-25 79%
1501 College Way, Fergus Falls 56537 off market $950 2 / 1 772 0.6 mi 2024-04-15 78%
1095 Westside Dr, # 210, Fergus Falls 56537 off market $930 2 / 1 800 0.9 mi 2026-05-18 78%
825 Cavour Ave E, Fergus Falls 56537 off market $950 2 / 1 800 1.4 mi 2025-08-05 78%

2 bed / 1 bath estimate $1,025/mo · range $975–$1,075

AddressRentBd / BaSq ftDistanceListedMatch
541-615 W Lincoln Ave West Lincoln Avenue Fergu… off market $1,025 2 / 1 1,040 0.6 mi 2025-11-06 92%
816 W Laurel St, Fergus Falls 56537 $900 2 / 1 895 0.1 mi 2025-04-02 91%
1004 N Union Ave, Fergus Falls 56537 off market $995 2 / 1 925 0.6 mi 2026-01-31 90%
1501 College Way, Fergus Falls 56537 off market $950 2 / 1 772 0.6 mi 2024-04-15 88%
1095 Westside Dr, # 210, Fergus Falls 56537 off market $930 2 / 1 800 0.9 mi 2026-05-18 88%
825 Cavour Ave E, Fergus Falls 56537 off market $950 2 / 1 800 1.4 mi 2025-08-05 87%
820 Summit Ave E, Fergus Falls 56537 off market $900 2 / 1 725 1.3 mi 2026-02-17 86%
719 Cavour Ave E, Fergus Falls 56537 off market $950 2 / 1 681 1.3 mi 2026-03-25 85%
1201 N Broadway, Apt 1, Fergus Falls 56537 $850 1 / 1 — 0.5 mi 2026-09-22 84%
1201 N Broadway, Apt 2, Fergus Falls 56537 off market $850 1 / 1 — 0.5 mi 2025-04-03 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

  • highLower-level 2-bed may not be a legal unit; check egress, ceiling height and rental licensing. Listing says: The lower level unit includes a separate 2 bedroom apartment · 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 822 MAPLE AVE W
  • mediumTaxes and unit count could not be verified against a county parcel record. Based on: data: county.tax · AI review
  • mediumNo rents, lease terms or expenses are given despite the income pitch. Listing says: offering great income with solid upside potential · AI review
  • lowEstimated 2-bed rent is nearly equal to the 3-bed, which suggests the rent estimates are uncertain. Based on: data: rent_estimate · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 263 days on market
  • 263 days on market gives room to negotiate below ask. Based on: data: listing.days_on_market · AI review
  • Seller hints that rents are below potential; verify actual rents against our estimates. Listing says: increase cash flow through rental adjustments or continued improvements · AI review
  • No rent cap in Fergus Falls, so rents can rise after a refresh. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

  • What are the current rents, lease end dates and are any tenants month-to-month?
  • Is the lower unit a legal, licensed rental with proper egress windows?
  • Who pays heat, electric, water and trash, and are there separate meters and furnaces?
  • What are the actual property taxes and are there any special assessments?
  • How old are the roof, furnace, water heaters and electrical panels?
  • Why has it sat since January, and have there been price changes or offers?

Bottom line

Numbers look decent at ask on paper, but with no rents, unverified taxes and tired interiors, it's a showing-and-diligence candidate, not a sure thing. 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.$1,998
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,162
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 2026-01-15 (263 days); down $20,000 (11.8%) from the first ask of $169,900.

DateEventPrice
Price changed$149,900
Price changed$159,900
Removed$169,900
Listed$169,900

From the listing Listing

Listed asduplex up and down
Property tax, 2026$1,998
CountyOtter Tail
Parcel number71003991370000

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 Fergus Falls on rental licensing before you buy.