116 2nd St S

Virginia, MN · View the listing ↗

Cash flows

3 photos

Photos courtesy of Z'Up North Realty, via Realtor.com.

Asking price: $64,500
Monthly cash flow: $1,301
Estimated rent: $3,075/mo
Break-even price: $308,890

Adjust the numbers See the full breakdown

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: $64,500
Cash to close: $14,835
Price per unit: $21,500
GRM: 1.7

Each month

Cash flow: $1,301/mo
Cash-on-cash: 105.2%
Cap rate: 30.6%
DSCR: 4.79×

Break-even

Price that breaks even: $308,890
Rent that breaks even: $1,386/mo

Long run

Year 30: property vs stocks: $2.25M vs $113K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,075
Vacancy (6%)	−$184
Collected	$2,890
Property tax Estimate	−$113
Insurance Estimate	−$296
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$246
Capital reserve (9% of rent)	−$277
Net operating income	$1,644
Mortgage (principal + interest)	−$343
Cash flow	$1,301
Principal paid down (equity, not cash)	$44

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	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $58,050 of principal by year 30	$0
Plus rental profits, invested at 7%$762,668 of profit by year 30, before investment growth	$2,041,657
What you'd walk away with	$2,188,822
If you put the same money in stocks
Cash to close ($8,385) invested at 7%	$63,829
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	$63,829
Building minus stocks	$2,124,993

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $58,050 of principal by year 30	$0
Plus rental profits, invested at 7%$614,150 of profit by year 30, before investment growth	$1,637,002
What you'd walk away with	$1,784,167
If you put the same money in stocks
Cash to close ($8,385) invested at 7%	$63,829
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	$63,829
Building minus stocks	$1,720,338

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $49,050 of principal by year 30	$0
Plus rental profits, invested at 7%$784,494 of profit by year 30, before investment growth	$2,111,270
What you'd walk away with	$2,235,619
If you put the same money in stocks
Cash to close ($7,085) invested at 7%	$53,933
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	$53,933
Building minus stocks	$2,181,686

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $49,050 of principal by year 30	$0
Plus rental profits, invested at 7%$635,976 of profit by year 30, before investment growth	$1,706,615
What you'd walk away with	$1,830,964
If you put the same money in stocks
Cash to close ($7,085) invested at 7%	$53,933
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	$53,933
Building minus stocks	$1,777,031

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $51,600 of principal by year 30	$0
Plus rental profits, invested at 7%$779,858 of profit by year 30, before investment growth	$2,101,525
What you'd walk away with	$2,248,690
If you put the same money in stocks
Cash to close ($14,835) invested at 7%	$112,928
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	$112,928
Building minus stocks	$2,135,762

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $51,600 of principal by year 30	$0
Plus rental profits, invested at 7%$631,340 of profit by year 30, before investment growth	$1,696,870
What you'd walk away with	$1,844,035
If you put the same money in stocks
Cash to close ($14,835) invested at 7%	$112,928
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	$112,928
Building minus stocks	$1,731,107

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $43,600 of principal by year 30	$0
Plus rental profits, invested at 7%$799,019 of profit by year 30, before investment growth	$2,161,856
What you'd walk away with	$2,286,205
If you put the same money in stocks
Cash to close ($12,535) invested at 7%	$95,420
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	$95,420
Building minus stocks	$2,190,785

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $43,600 of principal by year 30	$0
Plus rental profits, invested at 7%$650,500 of profit by year 30, before investment growth	$1,757,201
What you'd walk away with	$1,881,550
If you put the same money in stocks
Cash to close ($12,535) invested at 7%	$95,420
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	$95,420
Building minus stocks	$1,786,130

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $48,375 of principal by year 30	$0
Plus rental profits, invested at 7%$787,582 of profit by year 30, before investment growth	$2,125,846
What you'd walk away with	$2,273,011
If you put the same money in stocks
Cash to close ($18,060) invested at 7%	$137,477
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	$137,477
Building minus stocks	$2,135,534

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$156,558
Minus 6% selling cost	−$9,394
Minus loan still owedTenants' rent paid down all $48,375 of principal by year 30	$0
Plus rental profits, invested at 7%$639,064 of profit by year 30, before investment growth	$1,721,191
What you'd walk away with	$1,868,356
If you put the same money in stocks
Cash to close ($18,060) invested at 7%	$137,477
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	$137,477
Building minus stocks	$1,730,879

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $40,875 of principal by year 30	$0
Plus rental profits, invested at 7%$805,545 of profit by year 30, before investment growth	$2,182,406
What you'd walk away with	$2,306,755
If you put the same money in stocks
Cash to close ($15,260) invested at 7%	$116,163
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	$116,163
Building minus stocks	$2,190,592

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$132,286
Minus 6% selling cost	−$7,937
Minus loan still owedTenants' rent paid down all $40,875 of principal by year 30	$0
Plus rental profits, invested at 7%$657,027 of profit by year 30, before investment growth	$1,777,751
What you'd walk away with	$1,902,100
If you put the same money in stocks
Cash to close ($15,260) invested at 7%	$116,163
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	$116,163
Building minus stocks	$1,785,937

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 $2.25M, stocks $113K. 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 $1,025/mo · range $975–$1,125 · 6 rentals within 5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
206 S 4th Ave E Unit 104, Virginia	$995	2 / 1	—	0.2 mi	—	Apartment
201 N 5th Ave, Virginia	$958	2 / 1	—	0.3 mi	2026-02-01	Apartment
707 S 5th Ave Apt 3, Virginia	$995	2 / 1	—	0.4 mi	2026-04-08	Apartment
110 Anderson Dr # 44, Virginia	$1,065	2 / 1	850	2.1 mi	—	Apartment
8515 Parkvilla Dr, Mountain Iron	$1,295	2 / 1	928	2.4 mi	—	Apartment
300 15th Ave W, Eveleth	$1,047	2 / 1	900	4.8 mi	2025-01-03	Apartment

1 bed estimate $1,025/mo · range $1,025–$1,125 · 36 rentals in St. Louis County

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
406 S 4th Ave W Apt 204, Virginia	$940	1 / 1	368	0.2 mi	2026-09-17	Apartment
201 N 5th Ave, Virginia	$882	1 / 1	—	0.3 mi	2026-02-01	Apartment
604 7th St S Unit 2, Virginia	$850	1 / 1	—	0.5 mi	—	Apartment
606 7th St S Unit 2, Virginia	$880	1 / 1	—	0.5 mi	—	Apartment
100 N Van Buren Ave, Eveleth	$1,050	1 / 1	675	4.1 mi	—	Apartment
900 Dorchester Dr, Hoyt Lakes	$725	1 / 1	665	18.3 mi	2024-04-15	Apartment
600 E 40th St, Hibbing	$995	1 / 1	599	20.4 mi	2025-04-16	Apartment
5886 N Pike Lake Rd, Duluth	$1,400	1 / 1	544	46.2 mi	2026-03-18	Apartment
4926 W Arrowhead Rd Unit 307, Hermantown	$1,599	1 / 1	655	50.8 mi	2026-07-03	Apartment
25 W Redwing St Apt 18, Duluth	$1,125	1 / 1	513	50.9 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 116 2ND ST S

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 Estimateestimate. No tax record found; 2.1% of price.	$1,354
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,550
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. built 1906: +1 pt capital reserve	8% / 9%

Status history

2026-08-03Price cut at $64,500 (was $104,999) · from listing history
2025-01-22Price increase at $104,999 (was $99,000) · from listing history
2026-08-03New at $64,500

From the listing Listing

Listed as

triplex

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 Virginia on rental licensing before you buy.