226 3rd Ave NE

Overpriced

54 photos

Photos courtesy of Premier Real Estate Services, via Realtor.com.

Asking price: $176,750
Monthly cash flow: −$264
Estimated rent: $1,800/mo
Break-even price: $127,065

Adjust the numbers See the full breakdown

From the listing

Great equity-building opportunity for an owner-occupant or investor! This updated, licensed duplex features separate meters and main-level laundry in unit, offering the flexibility to live in one level while generating rental income from the other. Each level includes 2 bedrooms and 1 full bathroom, providing comfortable and functional living spaces. The home has been freshly painted inside and out, with the main level featuring updated vinyl plank flooring. Parking is a standout feature, with a 2-stall detached garage and an 18' x 24' concrete parking slab. The lower level was recently rented for $1,250, and the upper level for $850.

Listing courtesy of Premier Real Estate Services (Jeremy Forsell). Description from Realtor.com, MLS #7142047. 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: $176,750
Cash to close: $40,652
Price per unit: $88,375
GRM: 8.2

Each month

Cash flow: −$264/mo
Cash-on-cash: −7.8%
Cap rate: 4.6%
DSCR: 0.72×

Break-even

Price that breaks even: $127,065
Rent that breaks even: $2,143/mo

Long run

Year 30: property vs stocks: $456K vs $442K
Cash flow turns positive: year 15

Monthly

Monthly breakdown

Rent	$1,800
Vacancy (6%)	−$108
Collected	$1,692
Property tax Listing	−$280
Insurance Estimate	−$199
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$144
Capital reserve (9% of rent)	−$162
Net operating income	$676
Mortgage (principal + interest)	−$941
Cash flow	−$264
Principal paid down (equity, not cash)	$120

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	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $159,075 of principal by year 30	$0
Plus rental profits, invested at 7%$18,657 of profit by year 30, before investment growth	$23,282
What you'd walk away with	$426,559
If you put the same money in stocks
Cash to close ($22,978) invested at 7%	$174,911
Monthly shortfalls ($52,799 total by yr 30) investedThe money you'd have put into the building while it lost money	$267,078
What you'd walk away with	$441,989
Building minus stocks	−$15,430

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $159,075 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$403,278
If you put the same money in stocks
Cash to close ($22,978) invested at 7%	$174,911
Monthly shortfalls ($121,079 total by yr 30) investedThe money you'd have put into the building while it lost money	$480,668
What you'd walk away with	$655,578
Building minus stocks	−$252,300

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $150,075 of principal by year 30	$0
Plus rental profits, invested at 7%$27,300 of profit by year 30, before investment growth	$36,210
What you'd walk away with	$416,671
If you put the same money in stocks
Cash to close ($21,678) invested at 7%	$165,015
Monthly shortfalls ($39,615 total by yr 30) investedThe money you'd have put into the building while it lost money	$210,394
What you'd walk away with	$375,408
Building minus stocks	$41,263

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $150,075 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$380,461
If you put the same money in stocks
Cash to close ($21,678) invested at 7%	$165,015
Monthly shortfalls ($99,253 total by yr 30) investedThe money you'd have put into the building while it lost money	$411,055
What you'd walk away with	$576,069
Building minus stocks	−$195,608

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $141,400 of principal by year 30	$0
Plus rental profits, invested at 7%$37,374 of profit by year 30, before investment growth	$52,829
What you'd walk away with	$456,107
If you put the same money in stocks
Cash to close ($40,652) invested at 7%	$309,457
Monthly shortfalls ($24,410 total by yr 30) investedThe money you'd have put into the building while it lost money	$132,569
What you'd walk away with	$442,027
Building minus stocks	$14,080

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $141,400 of principal by year 30	$0
Plus rental profits, invested at 7%$808 of profit by year 30, before investment growth	$832
What you'd walk away with	$404,110
If you put the same money in stocks
Cash to close ($40,652) invested at 7%	$309,457
Monthly shortfalls ($74,782 total by yr 30) investedThe money you'd have put into the building while it lost money	$317,444
What you'd walk away with	$626,901
Building minus stocks	−$222,791

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $133,400 of principal by year 30	$0
Plus rental profits, invested at 7%$48,243 of profit by year 30, before investment growth	$72,598
What you'd walk away with	$453,059
If you put the same money in stocks
Cash to close ($38,352) invested at 7%	$291,949
Monthly shortfalls ($16,118 total by yr 30) investedThe money you'd have put into the building while it lost money	$92,007
What you'd walk away with	$383,956
Building minus stocks	$69,103

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $133,400 of principal by year 30	$0
Plus rental profits, invested at 7%$3,392 of profit by year 30, before investment growth	$3,722
What you'd walk away with	$384,183
If you put the same money in stocks
Cash to close ($38,352) invested at 7%	$291,949
Monthly shortfalls ($58,204 total by yr 30) investedThe money you'd have put into the building while it lost money	$260,002
What you'd walk away with	$551,951
Building minus stocks	−$167,768

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $132,562 of principal by year 30	$0
Plus rental profits, invested at 7%$49,452 of profit by year 30, before investment growth	$74,889
What you'd walk away with	$478,167
If you put the same money in stocks
Cash to close ($49,490) invested at 7%	$376,731
Monthly shortfalls ($15,321 total by yr 30) investedThe money you'd have put into the building while it lost money	$87,982
What you'd walk away with	$464,713
Building minus stocks	$13,454

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$429,019
Minus 6% selling cost	−$25,741
Minus loan still owedTenants' rent paid down all $132,562 of principal by year 30	$0
Plus rental profits, invested at 7%$3,792 of profit by year 30, before investment growth	$4,199
What you'd walk away with	$407,476
If you put the same money in stocks
Cash to close ($49,490) invested at 7%	$376,731
Monthly shortfalls ($56,598 total by yr 30) investedThe money you'd have put into the building while it lost money	$254,163
What you'd walk away with	$630,893
Building minus stocks	−$223,417

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $125,062 of principal by year 30	$0
Plus rental profits, invested at 7%$61,292 of profit by year 30, before investment growth	$98,975
What you'd walk away with	$479,436
If you put the same money in stocks
Cash to close ($46,690) invested at 7%	$355,416
Monthly shortfalls ($9,198 total by yr 30) investedThe money you'd have put into the building while it lost money	$55,507
What you'd walk away with	$410,923
Building minus stocks	$68,513

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$404,746
Minus 6% selling cost	−$24,285
Minus loan still owedTenants' rent paid down all $125,062 of principal by year 30	$0
Plus rental profits, invested at 7%$8,077 of profit by year 30, before investment growth	$9,549
What you'd walk away with	$390,010
If you put the same money in stocks
Cash to close ($46,690) invested at 7%	$355,416
Monthly shortfalls ($42,920 total by yr 30) investedThe money you'd have put into the building while it lost money	$202,952
What you'd walk away with	$558,368
Building minus stocks	−$168,358

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 $456K, stocks $442K. 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 $900/mo · range $825–$1,000 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
226 3rd Ave NE Unit 2, Saint Cloud	$892	2 / 1	850	0.0 mi	2026-10-02	Apartment
28 3rd Ave NE, Saint Cloud	$975	2 / 1	800	0.2 mi	2025-09-26	Apartment
421 8th Ave N, Saint Cloud	$875	2 / 1	—	0.5 mi	2026-01-09	Apartment
650 1st St SE, Saint Cloud	$975	2 / 1	—	0.6 mi	2026-09-22	Apartment
616 10th Ave N, Saint Cloud	$795	2 / 1	725	0.7 mi	2026-02-05	Apartment
333 4th Ave S, Saint Cloud	$800	2 / 1	—	0.7 mi	2026-08-18	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 226 3RD AVE NE

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.	$3,364
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,392
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 1890: +1 pt capital reserve	8% / 9%

Status history

2026-09-10Price cut at $176,750 (was $179,900) · from listing history
2026-09-10New at $176,750

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,364
County	Benton
Parcel number	170082800

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 Saint Cloud on rental licensing before you buy.