1033 3rd Ave SE

Cash flows

26 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $246,900
Monthly cash flow: $74
Estimated rent: $2,600/mo
Break-even price: $260,737

Adjust the numbers See the full breakdown

From the listing

This well-maintained Rochester duplex is a great way to start building your investment portfolio-or try your hand at the "house hacking" strategy by living in one unit while the other helps with the mortgage. The main-floor unit offers two bedrooms, hardwood floors throughout, an updated kitchen with maple cabinets and an bathroom featuring maple vanity, full tub/shower and tile flooring. Upstairs, the second unit gives you flexibility with a layout that can work as either two bedrooms or a bedroom plus living room. There's also a small, efficient kitchen, full bathroom with tile flooring and pedestal sink, new carpet in the bedroom and hardwood floors in the other living space. Both units have access to the shared basement with plenty of storage plus the washer and dryer. Each unit has its own 100-amp electrical service panel, making this property practical for both investors and owner-occupants. And some of the big-ticket items are already checked off the list: new roof in 2026 and new furnace in 2021. Whether you're looking for your first Rochester investment property, adding another rental to the portfolio, or looking for a home where your tenant can help pay the mortgage, this duplex deserves a spot on your list!

Listing courtesy of RE/MAX Results (Chris Hus). Description from Realtor.com, MLS #7149538. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

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: $246,900
Cash to close: $56,787
Price per unit: $123,450
GRM: 7.9

Each month

Cash flow: $74/mo
Cash-on-cash: 1.6%
Cap rate: 6.7%
DSCR: 1.06×

Break-even

Price that breaks even: $260,737
Rent that breaks even: $2,506/mo

Long run

Year 30: property vs stocks: $1.17M vs $432K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,600
Vacancy (6%)	−$156
Collected	$2,444
Property tax Listing	−$228
Insurance Estimate	−$183
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$208
Capital reserve (8% of rent)	−$208
Net operating income	$1,388
Mortgage (principal + interest)	−$1,314
Cash flow	$74
Principal paid down (equity, not cash)	$167

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

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $222,210 of principal by year 30	$0
Plus rental profits, invested at 7%$230,498 of profit by year 30, before investment growth	$434,817
What you'd walk away with	$998,150
If you put the same money in stocks
Cash to close ($32,097) invested at 7%	$244,331
Monthly shortfalls ($8,199 total by yr 30) investedThe money you'd have put into the building while it lost money	$53,881
What you'd walk away with	$298,211
Building minus stocks	$699,939

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $222,210 of principal by year 30	$0
Plus rental profits, invested at 7%$122,297 of profit by year 30, before investment growth	$195,251
What you'd walk away with	$758,585
If you put the same money in stocks
Cash to close ($32,097) invested at 7%	$244,331
Monthly shortfalls ($25,574 total by yr 30) investedThe money you'd have put into the building while it lost money	$156,462
What you'd walk away with	$400,793
Building minus stocks	$357,792

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $213,210 of principal by year 30	$0
Plus rental profits, invested at 7%$249,180 of profit by year 30, before investment growth	$484,163
What you'd walk away with	$1,024,680
If you put the same money in stocks
Cash to close ($30,797) invested at 7%	$234,435
Monthly shortfalls ($5,055 total by yr 30) investedThe money you'd have put into the building while it lost money	$33,613
What you'd walk away with	$268,048
Building minus stocks	$756,632

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $213,210 of principal by year 30	$0
Plus rental profits, invested at 7%$137,732 of profit by year 30, before investment growth	$228,919
What you'd walk away with	$769,436
If you put the same money in stocks
Cash to close ($30,797) invested at 7%	$234,435
Monthly shortfalls ($19,183 total by yr 30) investedThe money you'd have put into the building while it lost money	$120,517
What you'd walk away with	$354,951
Building minus stocks	$414,485

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $197,520 of principal by year 30	$0
Plus rental profits, invested at 7%$288,100 of profit by year 30, before investment growth	$610,105
What you'd walk away with	$1,173,438
If you put the same money in stocks
Cash to close ($56,787) invested at 7%	$432,277
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$432,277
Building minus stocks	$741,161

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $197,520 of principal by year 30	$0
Plus rental profits, invested at 7%$167,381 of profit by year 30, before investment growth	$299,948
What you'd walk away with	$863,282
If you put the same money in stocks
Cash to close ($56,787) invested at 7%	$432,277
Monthly shortfalls ($4,857 total by yr 30) investedThe money you'd have put into the building while it lost money	$31,991
What you'd walk away with	$464,268
Building minus stocks	$399,014

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $189,520 of principal by year 30	$0
Plus rental profits, invested at 7%$307,261 of profit by year 30, before investment growth	$670,436
What you'd walk away with	$1,210,953
If you put the same money in stocks
Cash to close ($54,487) invested at 7%	$414,769
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$414,769
Building minus stocks	$796,184

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $189,520 of principal by year 30	$0
Plus rental profits, invested at 7%$183,880 of profit by year 30, before investment growth	$343,255
What you'd walk away with	$883,772
If you put the same money in stocks
Cash to close ($54,487) invested at 7%	$414,769
Monthly shortfalls ($2,195 total by yr 30) investedThe money you'd have put into the building while it lost money	$14,966
What you'd walk away with	$429,735
Building minus stocks	$454,037

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $185,175 of principal by year 30	$0
Plus rental profits, invested at 7%$317,668 of profit by year 30, before investment growth	$703,203
What you'd walk away with	$1,266,537
If you put the same money in stocks
Cash to close ($69,132) invested at 7%	$526,250
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$526,250
Building minus stocks	$740,287

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$599,291
Minus 6% selling cost	−$35,957
Minus loan still owedTenants' rent paid down all $185,175 of principal by year 30	$0
Plus rental profits, invested at 7%$193,250 of profit by year 30, before investment growth	$369,117
What you'd walk away with	$932,450
If you put the same money in stocks
Cash to close ($69,132) invested at 7%	$526,250
Monthly shortfalls ($1,158 total by yr 30) investedThe money you'd have put into the building while it lost money	$8,061
What you'd walk away with	$534,311
Building minus stocks	$398,139

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $177,675 of principal by year 30	$0
Plus rental profits, invested at 7%$335,631 of profit by year 30, before investment growth	$759,764
What you'd walk away with	$1,300,281
If you put the same money in stocks
Cash to close ($66,332) invested at 7%	$504,936
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$504,936
Building minus stocks	$795,345

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$575,018
Minus 6% selling cost	−$34,501
Minus loan still owedTenants' rent paid down all $177,675 of principal by year 30	$0
Plus rental profits, invested at 7%$210,226 of profit by year 30, before investment growth	$418,836
What you'd walk away with	$959,354
If you put the same money in stocks
Cash to close ($66,332) invested at 7%	$504,936
Monthly shortfalls ($171 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,220
What you'd walk away with	$506,156
Building minus stocks	$453,198

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 $1.17M, stocks $432K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,300/mo · range $1,100–$1,525 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1215 7th Ave SE, Rochester	$1,579	2 / 1	822	0.3 mi	2026-02-16	Apartment
412 14th St SE, Rochester	$1,070	2 / 1	690	0.5 mi	2025-04-19	Apartment
322 6th St SE Apt 1, Rochester	$1,100	2 / 1	800	0.5 mi	—	Apartment
517 5th Ave SE, Rochester	$1,350	2 / 1	1,074	0.6 mi	2026-07-31	Apartment
1358 10th Ave SE Units 4 & 1358, Rochester	$1,500	2 / 1	800	0.6 mi	2025-08-21	Apartment
1358 10th Ave SE Units 3 & 1358, Rochester	$1,250	2 / 1	800	0.6 mi	2026-01-30	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. 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 1033 3RD AVE SE

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

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.	$2,730
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,193
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 rate	8% / 8%

Status history

2026-09-24New at $246,900

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$2,730
County	Olmsted
Parcel number	640244021871

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 Rochester on rental licensing before you buy.