1406 24th Ave S

29 photos

Photos, via Realtor.com.

Asking price: $255,000
Monthly cash flow: −$165
Estimated rent: $2,750/mo
Break-even price: $223,907

Adjust the numbers See the full breakdown

From the listing

BACK ON MARKET-Buyers financing fell through right before closing. Brand new roof just installed. Fantastic multi-family home located in an established South Moorhead neighborhood! This home would be a great owner-occupied or rent all 3 units! The main floor unit includes a large living room, spacious dining room + kitchen, 3 bedrooms, and 2 bathrooms. Unit 2 and 3 both have 1 bedroom and 1 full bathroom. All separate entrances with shared laundry in the basement. Detached 2 car garage and a fully fenced yard make this a great opportunity! Take a look today! Unit 1: Leased for $1,395 (notice to vacate on 9/30/2026) Unit 2: Vacant Unit 3: Leased for $725 month to month. Been there since 2018 Unit 1 pictures available upon request. Tenant didn't want them on the listing. Could be a good house hack. Or get the rents up to market rates as a strict investment.

Description from Realtor.com, MLS #7146881. 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: $255,000
Cash to close: $58,650
Price per unit: $85,000
GRM: 7.7

Each month

Cash flow: −$165/mo
Cash-on-cash: −3.4%
Cap rate: 5.6%
DSCR: 0.88×

Break-even

Price that breaks even: $223,907
Rent that breaks even: $2,962/mo

Long run

Year 30: property vs stocks: $849K vs $486K
Cash flow turns positive: year 7

Monthly

Monthly breakdown

Rent	$2,750
Vacancy (6%)	−$165
Collected	$2,585
Property tax Listing	−$359
Insurance Estimate	−$280
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$220
Capital reserve (8% of rent)	−$220
Net operating income	$1,192
Mortgage (principal + interest)	−$1,357
Cash flow	−$165
Principal paid down (equity, not cash)	$173

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	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $229,500 of principal by year 30	$0
Plus rental profits, invested at 7%$106,736 of profit by year 30, before investment growth	$166,766
What you'd walk away with	$748,581
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
Monthly shortfalls ($29,227 total by yr 30) investedThe money you'd have put into the building while it lost money	$175,952
What you'd walk away with	$428,299
Building minus stocks	$320,282

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $229,500 of principal by year 30	$0
Plus rental profits, invested at 7%$24,893 of profit by year 30, before investment growth	$30,685
What you'd walk away with	$612,499
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
Monthly shortfalls ($80,205 total by yr 30) investedThe money you'd have put into the building while it lost money	$401,757
What you'd walk away with	$654,103
Building minus stocks	−$41,604

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $220,500 of principal by year 30	$0
Plus rental profits, invested at 7%$121,497 of profit by year 30, before investment growth	$197,733
What you'd walk away with	$756,732
If you put the same money in stocks
Cash to close ($31,850) invested at 7%	$242,450
Monthly shortfalls ($22,163 total by yr 30) investedThe money you'd have put into the building while it lost money	$137,307
What you'd walk away with	$379,757
Building minus stocks	$376,975

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $220,500 of principal by year 30	$0
Plus rental profits, invested at 7%$32,938 of profit by year 30, before investment growth	$42,332
What you'd walk away with	$601,331
If you put the same money in stocks
Cash to close ($31,850) invested at 7%	$242,450
Monthly shortfalls ($66,424 total by yr 30) investedThe money you'd have put into the building while it lost money	$343,792
What you'd walk away with	$586,242
Building minus stocks	$15,089

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $204,000 of principal by year 30	$0
Plus rental profits, invested at 7%$151,620 of profit by year 30, before investment growth	$267,487
What you'd walk away with	$849,302
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
Monthly shortfalls ($6,152 total by yr 30) investedThe money you'd have put into the building while it lost money	$39,987
What you'd walk away with	$486,445
Building minus stocks	$362,857

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $204,000 of principal by year 30	$0
Plus rental profits, invested at 7%$50,863 of profit by year 30, before investment growth	$70,876
What you'd walk away with	$652,690
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
Monthly shortfalls ($38,216 total by yr 30) investedThe money you'd have put into the building while it lost money	$205,261
What you'd walk away with	$651,720
Building minus stocks	$970

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $196,000 of principal by year 30	$0
Plus rental profits, invested at 7%$167,750 of profit by year 30, before investment growth	$308,779
What you'd walk away with	$867,778
If you put the same money in stocks
Cash to close ($56,350) invested at 7%	$428,951
Monthly shortfalls ($3,121 total by yr 30) investedThe money you'd have put into the building while it lost money	$20,947
What you'd walk away with	$449,898
Building minus stocks	$417,880

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $196,000 of principal by year 30	$0
Plus rental profits, invested at 7%$61,152 of profit by year 30, before investment growth	$88,911
What you'd walk away with	$647,910
If you put the same money in stocks
Cash to close ($56,350) invested at 7%	$428,951
Monthly shortfalls ($29,344 total by yr 30) investedThe money you'd have put into the building while it lost money	$162,966
What you'd walk away with	$591,916
Building minus stocks	$55,994

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $191,250 of principal by year 30	$0
Plus rental profits, invested at 7%$177,785 of profit by year 30, before investment growth	$335,840
What you'd walk away with	$917,655
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
Monthly shortfalls ($1,779 total by yr 30) investedThe money you'd have put into the building while it lost money	$12,187
What you'd walk away with	$555,702
Building minus stocks	$361,953

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $191,250 of principal by year 30	$0
Plus rental profits, invested at 7%$67,763 of profit by year 30, before investment growth	$101,126
What you'd walk away with	$682,941
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
Monthly shortfalls ($24,578 total by yr 30) investedThe money you'd have put into the building while it lost money	$139,359
What you'd walk away with	$682,874
Building minus stocks	$67

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $183,750 of principal by year 30	$0
Plus rental profits, invested at 7%$194,338 of profit by year 30, before investment growth	$382,841
What you'd walk away with	$941,839
If you put the same money in stocks
Cash to close ($68,600) invested at 7%	$522,201
Monthly shortfalls ($369 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,626
What you'd walk away with	$524,827
Building minus stocks	$417,012

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$594,679
Minus 6% selling cost	−$35,681
Minus loan still owedTenants' rent paid down all $183,750 of principal by year 30	$0
Plus rental profits, invested at 7%$78,970 of profit by year 30, before investment growth	$122,942
What you'd walk away with	$681,941
If you put the same money in stocks
Cash to close ($68,600) invested at 7%	$522,201
Monthly shortfalls ($17,822 total by yr 30) investedThe money you'd have put into the building while it lost money	$104,615
What you'd walk away with	$626,815
Building minus stocks	$55,126

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 $849K, stocks $486K. 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 $950/mo · range $925–$1,025 · 15 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1308 27th Ave S, Moorhead	$825	2 / 1	851	0.2 mi	2026-04-25	Apartment
1208 27th Ave S, Moorhead	$850	2 / 1	926	0.2 mi	2026-08-12	Apartment
1206 27th Ave S, Moorhead	$950	2 / 1	926	0.2 mi	2026-08-12	Apartment
1220 28th Ave S, Moorhead	$950	2 / 1	920	0.2 mi	2026-08-12	Apartment
1122 27th Ave S, Moorhead	$950	2 / 1	990	0.3 mi	2026-08-12	Apartment
1114 27th Ave S, Moorhead	$1,025	2 / 1	851	0.3 mi	2025-10-31	Apartment
2318 10th St S, Moorhead	$895	2 / 1	817	0.3 mi	2026-08-12	Apartment
2610 11th St S, Moorhead	$1,095	2 / 1	1,152	0.3 mi	2025-04-23	Apartment
1102 28th Ave S, Moorhead	$915	2 / 2	938	0.4 mi	2025-03-29	Apartment
924 24th Ave S, Moorhead	$900	2 / 1	1,052	0.4 mi	2026-08-12	Apartment

1 bed estimate $850/mo · range $700–$1,075 · 9 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1206 27th Ave S, Moorhead	$825	1 / 1	677	0.2 mi	2026-08-12	Apartment
1310 28th Ave S, Moorhead	$825	1 / 1	705	0.2 mi	2026-08-12	Apartment
1102 28th Ave S, Moorhead	$825	1 / 1	677	0.4 mi	2025-03-29	Apartment
1805 20th St S, Moorhead	$595	1 / 1	—	0.5 mi	2026-04-16	Apartment
1605 20th St S, Moorhead	$595	1 / 1	641	0.6 mi	2026-04-16	Apartment
900 30th Ave S, Moorhead	$1,355	1 / 1	773	0.6 mi	2025-07-10	Apartment
1402 Belsly Blvd, Moorhead	$1,115	1 / 1	675	0.6 mi	2025-07-02	Apartment
1201 Belsly Blvd Apt 104, Moorhead	$995	1 / 1	—	0.7 mi	2026-09-18	Apartment
3015 20th St S, Moorhead	$750	1 / 1	700	0.7 mi	2026-06-22	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 1406 24TH AVE S
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "Unit 2: Vacant Unit 3: Leased for $725 month to month . Been there since 2018 Unit 1 pictures"

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 2025. 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.	$4,304
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,355
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. base rate	8% / 8%

Status history

2026-09-18New at $255,000

From the listing Listing

Listed as	triplex
Property tax, 2025	$4,304
County	Clay
Parcel number	588050820

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 Moorhead on rental licensing before you buy.