118 2nd St S

Virginia, MN · View the listing ↗

Cash flows

2 photos

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

Asking price: $56,900
Monthly cash flow: $764
Estimated rent: $2,050/mo
Break-even price: $200,458

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: $56,900
Cash to close: $13,087
Price per unit: $28,450
GRM: 2.3

Each month

Cash flow: $764/mo
Cash-on-cash: 70.1%
Cap rate: 22.5%
DSCR: 3.52×

Break-even

Price that breaks even: $200,458
Rent that breaks even: $1,058/mo

Long run

Year 30: property vs stocks: $1.40M vs $100K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,050
Vacancy (6%)	−$123
Collected	$1,927
Property tax Estimate	−$100
Insurance Estimate	−$182
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$164
Capital reserve (9% of rent)	−$184
Net operating income	$1,067
Mortgage (principal + interest)	−$303
Cash flow	$764
Principal paid down (equity, not cash)	$39

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	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $51,210 of principal by year 30	$0
Plus rental profits, invested at 7%$460,076 of profit by year 30, before investment growth	$1,216,384
What you'd walk away with	$1,346,209
If you put the same money in stocks
Cash to close ($7,397) invested at 7%	$56,308
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	$56,308
Building minus stocks	$1,289,901

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $51,210 of principal by year 30	$0
Plus rental profits, invested at 7%$361,064 of profit by year 30, before investment growth	$946,614
What you'd walk away with	$1,076,439
If you put the same money in stocks
Cash to close ($7,397) invested at 7%	$56,308
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	$56,308
Building minus stocks	$1,020,131

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $42,210 of principal by year 30	$0
Plus rental profits, invested at 7%$481,901 of profit by year 30, before investment growth	$1,285,997
What you'd walk away with	$1,393,005
If you put the same money in stocks
Cash to close ($6,097) invested at 7%	$46,412
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	$46,412
Building minus stocks	$1,346,593

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $42,210 of principal by year 30	$0
Plus rental profits, invested at 7%$382,889 of profit by year 30, before investment growth	$1,016,227
What you'd walk away with	$1,123,235
If you put the same money in stocks
Cash to close ($6,097) invested at 7%	$46,412
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	$46,412
Building minus stocks	$1,076,823

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $45,520 of principal by year 30	$0
Plus rental profits, invested at 7%$475,240 of profit by year 30, before investment growth	$1,269,198
What you'd walk away with	$1,399,022
If you put the same money in stocks
Cash to close ($13,087) invested at 7%	$99,622
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	$99,622
Building minus stocks	$1,299,400

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $45,520 of principal by year 30	$0
Plus rental profits, invested at 7%$376,228 of profit by year 30, before investment growth	$999,428
What you'd walk away with	$1,129,252
If you put the same money in stocks
Cash to close ($13,087) invested at 7%	$99,622
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	$99,622
Building minus stocks	$1,029,630

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $37,520 of principal by year 30	$0
Plus rental profits, invested at 7%$494,401 of profit by year 30, before investment growth	$1,329,529
What you'd walk away with	$1,436,537
If you put the same money in stocks
Cash to close ($10,787) invested at 7%	$82,113
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	$82,113
Building minus stocks	$1,354,424

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $37,520 of principal by year 30	$0
Plus rental profits, invested at 7%$395,389 of profit by year 30, before investment growth	$1,059,759
What you'd walk away with	$1,166,767
If you put the same money in stocks
Cash to close ($10,787) invested at 7%	$82,113
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	$82,113
Building minus stocks	$1,084,654

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $42,675 of principal by year 30	$0
Plus rental profits, invested at 7%$482,054 of profit by year 30, before investment growth	$1,290,653
What you'd walk away with	$1,420,478
If you put the same money in stocks
Cash to close ($15,932) invested at 7%	$121,278
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	$121,278
Building minus stocks	$1,299,200

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$138,111
Minus 6% selling cost	−$8,287
Minus loan still owedTenants' rent paid down all $42,675 of principal by year 30	$0
Plus rental profits, invested at 7%$383,042 of profit by year 30, before investment growth	$1,020,883
What you'd walk away with	$1,150,708
If you put the same money in stocks
Cash to close ($15,932) invested at 7%	$121,278
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	$121,278
Building minus stocks	$1,029,430

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $35,175 of principal by year 30	$0
Plus rental profits, invested at 7%$500,017 of profit by year 30, before investment growth	$1,347,213
What you'd walk away with	$1,454,222
If you put the same money in stocks
Cash to close ($13,132) invested at 7%	$99,964
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	$99,964
Building minus stocks	$1,354,258

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$113,839
Minus 6% selling cost	−$6,830
Minus loan still owedTenants' rent paid down all $35,175 of principal by year 30	$0
Plus rental profits, invested at 7%$401,005 of profit by year 30, before investment growth	$1,077,443
What you'd walk away with	$1,184,452
If you put the same money in stocks
Cash to close ($13,132) invested at 7%	$99,964
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	$99,964
Building minus stocks	$1,084,488

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 $1.40M, stocks $100K. 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 118 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.	$1,195
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,184
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. built 1906: +1 pt capital reserve	8% / 9%

Status history

2026-08-03Price cut at $56,900 (was $64,999) · from listing history
2025-01-24Price increase at $64,999 (was $59,000) · from listing history
2026-08-03New at $56,900

From the listing Listing

Listed as

duplex

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.