1404 N 5th St

Mankato, MN · View the listing ↗

Overpriced

30 photos

Photos courtesy of NUSTAR REALTY MANKATO, via Realtor.com.

Asking price: $194,999
Monthly cash flow: −$279
Estimated rent: $1,900/mo
Break-even price: $142,539

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: $194,999
Cash to close: $44,850
Price per unit: $97,500
GRM: 8.6

Each month

Cash flow: −$279/mo
Cash-on-cash: −7.5%
Cap rate: 4.7%
DSCR: 0.73×

Break-even

Price that breaks even: $142,539
Rent that breaks even: $2,277/mo

Long run

Year 30: property vs stocks: $520K vs $473K
Cash flow turns positive: year 14

Monthly

Monthly breakdown

Rent	$1,900
Vacancy (6%)	−$114
Collected	$1,786
Property tax Listing	−$217
Insurance Estimate	−$201
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (10% of rent)	−$190
Capital reserve (10% of rent)	−$190
Net operating income	$759
Mortgage (principal + interest)	−$1,038
Cash flow	−$279
Principal paid down (equity, not cash)	$132

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	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $175,499 of principal by year 30	$0
Plus rental profits, invested at 7%$28,814 of profit by year 30, before investment growth	$37,270
What you'd walk away with	$482,185
If you put the same money in stocks
Cash to close ($25,350) invested at 7%	$192,970
Monthly shortfalls ($52,736 total by yr 30) investedThe money you'd have put into the building while it lost money	$274,250
What you'd walk away with	$467,219
Building minus stocks	$14,966

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $175,499 of principal by year 30	$0
Plus rental profits, invested at 7%$137 of profit by year 30, before investment growth	$137
What you'd walk away with	$445,052
If you put the same money in stocks
Cash to close ($25,350) invested at 7%	$192,970
Monthly shortfalls ($115,827 total by yr 30) investedThe money you'd have put into the building while it lost money	$487,147
What you'd walk away with	$680,117
Building minus stocks	−$235,065

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $166,499 of principal by year 30	$0
Plus rental profits, invested at 7%$38,401 of profit by year 30, before investment growth	$52,346
What you'd walk away with	$474,444
If you put the same money in stocks
Cash to close ($24,050) invested at 7%	$183,074
Monthly shortfalls ($40,497 total by yr 30) investedThe money you'd have put into the building while it lost money	$219,712
What you'd walk away with	$402,786
Building minus stocks	$71,658

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $166,499 of principal by year 30	$0
Plus rental profits, invested at 7%$1,632 of profit by year 30, before investment growth	$1,704
What you'd walk away with	$423,803
If you put the same money in stocks
Cash to close ($24,050) invested at 7%	$183,074
Monthly shortfalls ($95,496 total by yr 30) investedThe money you'd have put into the building while it lost money	$419,101
What you'd walk away with	$602,175
Building minus stocks	−$178,372

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $155,999 of principal by year 30	$0
Plus rental profits, invested at 7%$51,619 of profit by year 30, before investment growth	$75,226
What you'd walk away with	$520,141
If you put the same money in stocks
Cash to close ($44,850) invested at 7%	$341,408
Monthly shortfalls ($23,573 total by yr 30) investedThe money you'd have put into the building while it lost money	$131,210
What you'd walk away with	$472,618
Building minus stocks	$47,523

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $155,999 of principal by year 30	$0
Plus rental profits, invested at 7%$5,578 of profit by year 30, before investment growth	$6,225
What you'd walk away with	$451,140
If you put the same money in stocks
Cash to close ($44,850) invested at 7%	$341,408
Monthly shortfalls ($69,299 total by yr 30) investedThe money you'd have put into the building while it lost money	$312,240
What you'd walk away with	$653,648
Building minus stocks	−$202,508

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $147,999 of principal by year 30	$0
Plus rental profits, invested at 7%$63,176 of profit by year 30, before investment growth	$97,176
What you'd walk away with	$519,274
If you put the same money in stocks
Cash to close ($42,550) invested at 7%	$323,900
Monthly shortfalls ($15,969 total by yr 30) investedThe money you'd have put into the building while it lost money	$92,829
What you'd walk away with	$416,728
Building minus stocks	$102,546

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $147,999 of principal by year 30	$0
Plus rental profits, invested at 7%$10,207 of profit by year 30, before investment growth	$12,018
What you'd walk away with	$434,117
If you put the same money in stocks
Cash to close ($42,550) invested at 7%	$323,900
Monthly shortfalls ($54,767 total by yr 30) investedThe money you'd have put into the building while it lost money	$257,702
What you'd walk away with	$581,601
Building minus stocks	−$147,484

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $146,249 of principal by year 30	$0
Plus rental profits, invested at 7%$65,871 of profit by year 30, before investment growth	$102,545
What you'd walk away with	$547,460
If you put the same money in stocks
Cash to close ($54,600) invested at 7%	$415,627
Monthly shortfalls ($14,473 total by yr 30) investedThe money you'd have put into the building while it lost money	$85,001
What you'd walk away with	$500,628
Building minus stocks	$46,832

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$473,314
Minus 6% selling cost	−$28,399
Minus loan still owedTenants' rent paid down all $146,249 of principal by year 30	$0
Plus rental profits, invested at 7%$11,450 of profit by year 30, before investment growth	$13,665
What you'd walk away with	$458,580
If you put the same money in stocks
Cash to close ($54,600) invested at 7%	$415,627
Monthly shortfalls ($51,818 total by yr 30) investedThe money you'd have put into the building while it lost money	$246,152
What you'd walk away with	$661,779
Building minus stocks	−$203,199

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $138,749 of principal by year 30	$0
Plus rental profits, invested at 7%$78,263 of profit by year 30, before investment growth	$128,721
What you'd walk away with	$550,820
If you put the same money in stocks
Cash to close ($51,800) invested at 7%	$394,313
Monthly shortfalls ($8,901 total by yr 30) investedThe money you'd have put into the building while it lost money	$54,616
What you'd walk away with	$448,929
Building minus stocks	$101,891

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$449,041
Minus 6% selling cost	−$26,942
Minus loan still owedTenants' rent paid down all $138,749 of principal by year 30	$0
Plus rental profits, invested at 7%$17,484 of profit by year 30, before investment growth	$22,050
What you'd walk away with	$444,148
If you put the same money in stocks
Cash to close ($51,800) invested at 7%	$394,313
Monthly shortfalls ($39,890 total by yr 30) investedThe money you'd have put into the building while it lost money	$197,976
What you'd walk away with	$592,289
Building minus stocks	−$148,141

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 $520K, stocks $473K. 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 $1,050/mo · range $925–$1,100 · 10 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
535 N 4th St, Mankato	$935	2 / 1	750	0.7 mi	2026-06-03	Apartment
501 N 5th St Unit 1/2, Mankato	$1,070	2 / 1	896	0.7 mi	2026-06-15	Apartment
426 N 5th St Apt 1, Mankato	$875	2 / 1	672	0.8 mi	2025-07-24	Apartment
225 E Spring St, Mankato	$965	2 / 1	755	0.8 mi	2026-09-11	Apartment
405 N 5th St, Mankato	$1,200	2 / 1	776	0.8 mi	2025-01-03	Apartment
920 Patriot Dr, Mankato	$1,205	2 / 1	957	0.8 mi	2026-05-15	Apartment
630 Lyndale St, North Mankato	$895	2 / 1	551	1.0 mi	2026-06-26	Apartment
428 Commodore Dr Apt 7, Mankato	$1,050	2 / 1	—	1.2 mi	2026-09-14	Apartment
429 Deldona Dr Apt 2, Mankato	$1,050	2 / 1	—	1.3 mi	2026-09-21	Apartment
101 Parkway Ave, Mankato	$1,074	2 / 1	660	1.4 mi	2024-04-15	Apartment

1 bed estimate $850/mo · range $725–$1,075 · 15 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
405 N 5th St, Mankato	$1,075	1 / 1	576	0.8 mi	2025-01-03	Apartment
931 Madison Ave, Mankato	$1,150	1 / 1	650	0.8 mi	2026-07-02	Apartment
920 Patriot Dr, Mankato	$830	1 / 1	736	0.8 mi	2026-05-15	Apartment
308 N Broad St, Mankato	$870	1 / 1	509	0.9 mi	2026-09-26	Apartment
914 Lyndale St, North Mankato	$724	1 / 1	400	1.0 mi	2026-08-06	Apartment
102 S 5th St, Mankato	$550	1 / 1	132	1.1 mi	2026-05-28	Apartment
112 S 5th St Unit Upper, Mankato	$850	1 / 1	700	1.1 mi	2025-09-18	Apartment
322 E Walnut St, Mankato	$774	1 / 1	446	1.1 mi	2026-03-21	Apartment
109 Hanover St, Mankato	$680	1 / 1	350	1.2 mi	2026-07-18	Apartment
429 Deldona Dr Apt 4, Mankato	$925	1 / 1	1	1.3 mi	2026-09-14	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 1404 5TH ST N
mediumSold as-is: the seller won't fix what the inspection finds. Price that in. Listing says: "unit bathtub recently replaced too. Property is sold as-is ."

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.	$2,600
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,408
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 1886: +1 pt capital reserve; "as-is" in the description: +2 pts each	10% / 10%

Status history

2026-07-18New at $194,999

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$2,600
County	Blue Earth
Parcel number	R010908111018

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 Mankato on rental licensing before you buy.