110 3rd Ave N

Cash flows

28 photos

Photos courtesy of Grand Properties, via Realtor.com.

Asking price: $160,000
Monthly cash flow: $1,143
Estimated rent: $3,850/mo
Break-even price: $374,798

Adjust the numbers See the full breakdown

From the listing

Whether you want to increase your portfolio or have a live-in house hack. This property is perfect for your next cash-flowing investment. Currently used as a long-term rental but can be used as a short-term rental, this four-unit property has a mix of 2 two-bedrooms (both leased currently $1000 and $900/month), a one-bedroom ($835/month vacant), and one efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in the last three years. The furnace has also been updated to natural gas. The electrical service has been updated to all breakers and potential laundry room wiring has been run already. Metal roof and blown-in insulation in the attic make this fairly easy to heat. All the utilities and heat are included in the tenants' rent.

Listing courtesy of Grand Properties (Joseph Tome). Description from Realtor.com, MLS #7143364. 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: $160,000
Cash to close: $36,800
Price per unit: $40,000
GRM: 3.5

Each month

Cash flow: $1,143/mo
Cash-on-cash: 37.3%
Cap rate: 15.0%
DSCR: 2.34×

Break-even

Price that breaks even: $374,798
Rent that breaks even: $2,384/mo

Long run

Year 30: property vs stocks: $2.41M vs $280K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,850
Vacancy (6%)	−$231
Collected	$3,619
Property tax Listing	−$262
Insurance Estimate	−$346
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$308
Capital reserve (8% of rent)	−$308
Net operating income	$1,995
Mortgage (principal + interest)	−$852
Cash flow	$1,143
Principal paid down (equity, not cash)	$108

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	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $144,000 of principal by year 30	$0
Plus rental profits, invested at 7%$740,684 of profit by year 30, before investment growth	$1,896,309
What you'd walk away with	$2,261,369
If you put the same money in stocks
Cash to close ($20,800) invested at 7%	$158,335
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	$158,335
Building minus stocks	$2,103,034

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $144,000 of principal by year 30	$0
Plus rental profits, invested at 7%$554,734 of profit by year 30, before investment growth	$1,389,668
What you'd walk away with	$1,754,728
If you put the same money in stocks
Cash to close ($20,800) invested at 7%	$158,335
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	$158,335
Building minus stocks	$1,596,393

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $135,000 of principal by year 30	$0
Plus rental profits, invested at 7%$762,510 of profit by year 30, before investment growth	$1,965,922
What you'd walk away with	$2,308,166
If you put the same money in stocks
Cash to close ($19,500) invested at 7%	$148,439
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	$148,439
Building minus stocks	$2,159,727

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $135,000 of principal by year 30	$0
Plus rental profits, invested at 7%$576,560 of profit by year 30, before investment growth	$1,459,281
What you'd walk away with	$1,801,525
If you put the same money in stocks
Cash to close ($19,500) invested at 7%	$148,439
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	$148,439
Building minus stocks	$1,653,086

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $128,000 of principal by year 30	$0
Plus rental profits, invested at 7%$783,325 of profit by year 30, before investment growth	$2,044,819
What you'd walk away with	$2,409,879
If you put the same money in stocks
Cash to close ($36,800) invested at 7%	$280,131
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	$280,131
Building minus stocks	$2,129,748

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $128,000 of principal by year 30	$0
Plus rental profits, invested at 7%$597,376 of profit by year 30, before investment growth	$1,538,177
What you'd walk away with	$1,903,238
If you put the same money in stocks
Cash to close ($36,800) invested at 7%	$280,131
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	$280,131
Building minus stocks	$1,623,107

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $120,000 of principal by year 30	$0
Plus rental profits, invested at 7%$802,486 of profit by year 30, before investment growth	$2,105,150
What you'd walk away with	$2,447,394
If you put the same money in stocks
Cash to close ($34,500) invested at 7%	$262,623
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	$262,623
Building minus stocks	$2,184,771

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $120,000 of principal by year 30	$0
Plus rental profits, invested at 7%$616,536 of profit by year 30, before investment growth	$1,598,509
What you'd walk away with	$1,940,753
If you put the same money in stocks
Cash to close ($34,500) invested at 7%	$262,623
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	$262,623
Building minus stocks	$1,678,130

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $120,000 of principal by year 30	$0
Plus rental profits, invested at 7%$802,486 of profit by year 30, before investment growth	$2,105,150
What you'd walk away with	$2,470,210
If you put the same money in stocks
Cash to close ($44,800) invested at 7%	$341,029
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	$341,029
Building minus stocks	$2,129,181

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$388,362
Minus 6% selling cost	−$23,302
Minus loan still owedTenants' rent paid down all $120,000 of principal by year 30	$0
Plus rental profits, invested at 7%$616,536 of profit by year 30, before investment growth	$1,598,509
What you'd walk away with	$1,963,569
If you put the same money in stocks
Cash to close ($44,800) invested at 7%	$341,029
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	$341,029
Building minus stocks	$1,622,540

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $112,500 of principal by year 30	$0
Plus rental profits, invested at 7%$820,449 of profit by year 30, before investment growth	$2,161,710
What you'd walk away with	$2,503,954
If you put the same money in stocks
Cash to close ($42,000) invested at 7%	$319,715
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	$319,715
Building minus stocks	$2,184,239

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$364,089
Minus 6% selling cost	−$21,845
Minus loan still owedTenants' rent paid down all $112,500 of principal by year 30	$0
Plus rental profits, invested at 7%$634,500 of profit by year 30, before investment growth	$1,655,069
What you'd walk away with	$1,997,313
If you put the same money in stocks
Cash to close ($42,000) invested at 7%	$319,715
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	$319,715
Building minus stocks	$1,677,598

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 $2.41M, stocks $280K. 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 $1,225/mo · range $1,075–$1,650 · 48 rentals in St. Louis County

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
410 W 3rd Ave N, Aurora	$970	2 / 1	840	4.7 mi	—	Apartment
110 Anderson Dr # 44, Virginia	$1,065	2 / 1	850	8.6 mi	—	Apartment
206 S 4th Ave E Unit 104, Virginia	$995	2 / 1	—	8.9 mi	—	Apartment
201 N 5th Ave, Virginia	$958	2 / 1	—	9.0 mi	2026-02-01	Apartment
707 S 5th Ave Apt 3, Virginia	$995	2 / 1	—	9.1 mi	2026-04-08	Apartment
8515 Parkvilla Dr, Mountain Iron	$1,295	2 / 1	928	11.2 mi	—	Apartment
300 15th Ave W, Eveleth	$1,047	2 / 1	900	11.9 mi	2025-01-03	Apartment
100 Southview Dr, Hibbing	$990	2 / 1	792	27.7 mi	—	Apartment
600 E 40th St, Hibbing	$1,170	2 / 1	860	28.9 mi	2025-04-16	Apartment
3505 9th Ave W, Hibbing	$748	2 / 1	627	29.7 mi	2024-11-16	Apartment

1 bed estimate $875/mo · range $825–$975 · 6 rentals within 9.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
406 S 4th Ave W Apt 204, Virginia	$940	1 / 1	368	8.9 mi	2026-09-17	Apartment
201 N 5th Ave, Virginia	$882	1 / 1	—	9.0 mi	2026-02-01	Apartment
604 7th St S Unit 2, Virginia	$850	1 / 1	—	9.2 mi	—	Apartment
606 7th St S Unit 2, Virginia	$880	1 / 1	—	9.2 mi	—	Apartment
900 Dorchester Dr, Hoyt Lakes	$725	1 / 1	665	9.6 mi	2024-04-15	Apartment
100 N Van Buren Ave, Eveleth	$1,050	1 / 1	675	9.7 mi	—	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 110 3RD AVE N
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "efficiency apartments ($750/month vacant). Current tenants are on month-to-month or soon-to-be-expiring leases. Three new water heaters in"

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.	$3,148
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,150
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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

2026-09-12New at $160,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$3,148
County	St. Louis
Parcel number	015001001170

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 Biwabik on rental licensing before you buy.