215 9th St NW

Bemidji, MN · View the listing ↗

Cash flows

31 photos

Photos courtesy of Edina Realty, Inc, via Realtor.com.

Asking price: $265,000
Monthly cash flow: $408
Estimated rent: $3,525/mo
Break-even price: $341,605

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: $265,000
Cash to close: $60,950
Price per unit: $88,333
GRM: 6.3

Each month

Cash flow: $408/mo
Cash-on-cash: 8.0%
Cap rate: 8.2%
DSCR: 1.29×

Break-even

Price that breaks even: $341,605
Rent that breaks even: $3,002/mo

Long run

Year 30: property vs stocks: $1.75M vs $464K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,525
Vacancy (6%)	−$212
Collected	$3,314
Property tax Listing	−$346
Insurance Estimate	−$270
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$282
Capital reserve (8% of rent)	−$282
Net operating income	$1,818
Mortgage (principal + interest)	−$1,410
Cash flow	$408
Principal paid down (equity, not cash)	$179

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	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$414,385 of profit by year 30, before investment growth	$897,643
What you'd walk away with	$1,502,274
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
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	$262,242
Building minus stocks	$1,240,032

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$251,494 of profit by year 30, before investment growth	$482,323
What you'd walk away with	$1,086,954
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($7,362 total by yr 30) investedThe money you'd have put into the building while it lost money	$48,553
What you'd walk away with	$310,795
Building minus stocks	$776,159

	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%$436,210 of profit by year 30, before investment growth	$967,256
What you'd walk away with	$1,549,071
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
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	$252,346
Building minus stocks	$1,296,725

	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%$270,176 of profit by year 30, before investment growth	$531,669
What you'd walk away with	$1,113,484
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
Monthly shortfalls ($4,218 total by yr 30) investedThe money you'd have put into the building while it lost money	$28,286
What you'd walk away with	$280,632
Building minus stocks	$832,852

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$485,009 of profit by year 30, before investment growth	$1,143,612
What you'd walk away with	$1,748,243
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
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	$463,967
Building minus stocks	$1,284,276

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$314,757 of profit by year 30, before investment growth	$679,739
What you'd walk away with	$1,284,370
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
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	$463,967
Building minus stocks	$820,403

	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%$504,170 of profit by year 30, before investment growth	$1,203,943
What you'd walk away with	$1,785,758
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
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	$446,459
Building minus stocks	$1,339,299

	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%$333,918 of profit by year 30, before investment growth	$740,070
What you'd walk away with	$1,321,885
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
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	$446,459
Building minus stocks	$875,426

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$516,744 of profit by year 30, before investment growth	$1,243,535
What you'd walk away with	$1,848,167
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
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	$564,829
Building minus stocks	$1,283,338

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$346,492 of profit by year 30, before investment growth	$779,663
What you'd walk away with	$1,384,294
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
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	$564,829
Building minus stocks	$819,465

	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%$534,707 of profit by year 30, before investment growth	$1,300,096
What you'd walk away with	$1,881,911
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
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	$543,515
Building minus stocks	$1,338,396

	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%$364,455 of profit by year 30, before investment growth	$836,223
What you'd walk away with	$1,418,038
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
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	$543,515
Building minus stocks	$874,523

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 $1.75M, stocks $464K. 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 $1,175/mo · range $950–$1,375 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1108 Beltrami Ave NW, Bemidji	$1,200	2 / 1	1,064	0.2 mi	2026-09-01	Apartment
1101 Bemidji Ave NE, Bemidji	$950	2 / 1	—	0.2 mi	2026-10-01	Apartment
325 Summit Ave W Apt 202, Blackduck	$1,000	2 / 1	—	23.1 mi	2026-09-28	Apartment
210 Park Ave, Park Rapids	$1,020	2 / 1	800	39.1 mi	2026-09-01	Apartment
313 1st St E Apt 8, Park Rapids	$825	2 / 1	—	39.1 mi	2025-06-16	Apartment
203 Helten Ave, Park Rapids	$685	2 / 1	—	39.2 mi	2025-12-13	Apartment
11 1st Ave NE, Deer River	$800	2 / 1	—	51.8 mi	2026-09-05	Apartment
502 Riverwood Dr, Detroit Lakes	$1,115	2 / 1	1,041	63.0 mi	2026-10-01	Apartment
2199 SW 8th St # 233, Grand Rapids	$1,950	2 / 1	1,182	64.2 mi	—	Apartment
2199 SW 8th St # 118, Grand Rapids	$1,750	2 / 1	937	64.2 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 215 9TH ST NW

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.	$4,156
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,240
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

2026-09-24Price increase at $265,000 (was $170,000) · from listing history
2026-09-24New at $265,000

From the listing Listing

Listed as	triplex
Property tax, 2025	$4,156
County	Beltrami
Parcel number	800122700

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 Bemidji on rental licensing before you buy.