226 3rd Ave S

Cash flows

39 photos

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

Asking price: $319,900
Monthly cash flow: $248
Estimated rent: $3,900/mo
Break-even price: $366,406

Adjust the numbers See the full breakdown

From the listing

House Hack your way into real estate investing or expand your portfolio with this well-maintained triplex offering immediate income and future upside! Featuring two main-floor 2BR units and a remodeled 3BR lower-level apartment. The north main-floor 2BR unit is leased beginning 7/31 at $1,000/month, with tenant paying heat/gas, electric, and garbage. Two month-to-month leases provide flexibility for a new owner to adjust rental strategy over time, maximize income potential, or transition a unit for owner occupancy. Current rents for the month to month units $1050 & $975 plus utilities. Located on a corner lot with vinyl siding, steel roof, and a 1999 garage addition featuring three dedicated stalls with shared interior access. Tenants pay electric, garbage, and cable/internet. Conveniently located just 15 minutes south of Hutchinson with quick Hwy. 212 access to the SW Metro. Turnkey investment opportunity with immediate rental income and long-term potential!

Listing courtesy of Premier Real Estate Services (Maria Oman). Description from Realtor.com, MLS #7046112. 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: $319,900
Cash to close: $73,577
Price per unit: $106,633
GRM: 6.8

Each month

Cash flow: $248/mo
Cash-on-cash: 4.0%
Cap rate: 7.3%
DSCR: 1.15×

Break-even

Price that breaks even: $366,406
Rent that breaks even: $3,583/mo

Long run

Year 30: property vs stocks: $1.73M vs $560K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,900
Vacancy (6%)	−$234
Collected	$3,666
Property tax Listing	−$478
Insurance Estimate	−$299
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$312
Capital reserve (8% of rent)	−$312
Net operating income	$1,950
Mortgage (principal + interest)	−$1,703
Cash flow	$248
Principal paid down (equity, not cash)	$217

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	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $287,910 of principal by year 30	$0
Plus rental profits, invested at 7%$365,428 of profit by year 30, before investment growth	$728,585
What you'd walk away with	$1,458,478
If you put the same money in stocks
Cash to close ($41,587) invested at 7%	$316,571
Monthly shortfalls ($3,303 total by yr 30) investedThe money you'd have put into the building while it lost money	$22,572
What you'd walk away with	$339,143
Building minus stocks	$1,119,335

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $287,910 of principal by year 30	$0
Plus rental profits, invested at 7%$195,851 of profit by year 30, before investment growth	$333,407
What you'd walk away with	$1,063,299
If you put the same money in stocks
Cash to close ($41,587) invested at 7%	$316,571
Monthly shortfalls ($22,090 total by yr 30) investedThe money you'd have put into the building while it lost money	$140,615
What you'd walk away with	$457,186
Building minus stocks	$606,113

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $278,910 of principal by year 30	$0
Plus rental profits, invested at 7%$385,228 of profit by year 30, before investment growth	$784,565
What you'd walk away with	$1,491,641
If you put the same money in stocks
Cash to close ($40,287) invested at 7%	$306,675
Monthly shortfalls ($1,277 total by yr 30) investedThe money you'd have put into the building while it lost money	$8,939
What you'd walk away with	$315,613
Building minus stocks	$1,176,028

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $278,910 of principal by year 30	$0
Plus rental profits, invested at 7%$212,864 of profit by year 30, before investment growth	$374,112
What you'd walk away with	$1,081,188
If you put the same money in stocks
Cash to close ($40,287) invested at 7%	$306,675
Monthly shortfalls ($17,278 total by yr 30) investedThe money you'd have put into the building while it lost money	$111,707
What you'd walk away with	$418,382
Building minus stocks	$662,806

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $255,920 of principal by year 30	$0
Plus rental profits, invested at 7%$447,381 of profit by year 30, before investment growth	$1,002,939
What you'd walk away with	$1,732,831
If you put the same money in stocks
Cash to close ($73,577) invested at 7%	$560,087
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	$560,087
Building minus stocks	$1,172,744

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $255,920 of principal by year 30	$0
Plus rental profits, invested at 7%$260,477 of profit by year 30, before investment growth	$499,887
What you'd walk away with	$1,229,779
If you put the same money in stocks
Cash to close ($73,577) invested at 7%	$560,087
Monthly shortfalls ($1,460 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,169
What you'd walk away with	$570,256
Building minus stocks	$659,523

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $247,920 of principal by year 30	$0
Plus rental profits, invested at 7%$466,542 of profit by year 30, before investment growth	$1,063,270
What you'd walk away with	$1,770,346
If you put the same money in stocks
Cash to close ($71,277) invested at 7%	$542,579
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	$542,579
Building minus stocks	$1,227,767

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $247,920 of principal by year 30	$0
Plus rental profits, invested at 7%$278,528 of profit by year 30, before investment growth	$552,541
What you'd walk away with	$1,259,618
If you put the same money in stocks
Cash to close ($71,277) invested at 7%	$542,579
Monthly shortfalls ($350 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,492
What you'd walk away with	$545,071
Building minus stocks	$714,547

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $239,925 of principal by year 30	$0
Plus rental profits, invested at 7%$485,691 of profit by year 30, before investment growth	$1,123,564
What you'd walk away with	$1,853,456
If you put the same money in stocks
Cash to close ($89,572) invested at 7%	$681,845
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	$681,845
Building minus stocks	$1,171,611

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $239,925 of principal by year 30	$0
Plus rental profits, invested at 7%$297,327 of profit by year 30, before investment growth	$610,343
What you'd walk away with	$1,340,235
If you put the same money in stocks
Cash to close ($89,572) invested at 7%	$681,845
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	$681,845
Building minus stocks	$658,390

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $232,425 of principal by year 30	$0
Plus rental profits, invested at 7%$503,654 of profit by year 30, before investment growth	$1,180,124
What you'd walk away with	$1,887,200
If you put the same money in stocks
Cash to close ($86,772) invested at 7%	$660,531
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	$660,531
Building minus stocks	$1,226,669

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $232,425 of principal by year 30	$0
Plus rental profits, invested at 7%$315,290 of profit by year 30, before investment growth	$666,903
What you'd walk away with	$1,373,979
If you put the same money in stocks
Cash to close ($86,772) invested at 7%	$660,531
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	$660,531
Building minus stocks	$713,448

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 $1.73M, stocks $560K. 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 $1,200/mo · range $975–$1,400 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
600 Bowman St Apt 3, Stewart	$775	2 / 1	—	6.7 mi	2025-06-30	Apartment
221-231 Freemont Ave SE, Hutchinson	$1,195	2 / 1	860	10.1 mi	2026-07-23	Apartment
955 Echo Dr SE Apt 4, Hutchinson	$975	2 / 1	750	10.3 mi	2026-07-21	Apartment
College Ave NE, Hutchinson	$995	2 / 1	900	11.8 mi	2026-07-22	Apartment
105 Michael Ct NW Unit 17, Hutchinson	$1,300	2 / 1	904	12.2 mi	2024-02-21	Apartment
105 Michael Ct NW Unit 8, Hutchinson	$1,350	2 / 1	904	12.2 mi	2024-02-13	Apartment
610 6th St W Unit 11, Winthrop	$775	2 / 1	—	12.8 mi	2024-07-10	Apartment
140 9th St S, Winsted	$1,600	2 / 2	936	21.6 mi	2026-06-08	Apartment
410 2nd St NW Apt 3, Cokato	$900	2 / 1	—	25.5 mi	2024-03-06	Apartment
101 Main St S, Le Sueur	$1,400	2 / 1	1,050	28.5 mi	2026-08-01	Apartment

3 bed estimate $1,500/mo · range $1,300–$1,725 · 141 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
301 S Washington Ave, Saint Peter	$1,450	3 / 1	1,276	34.0 mi	2026-01-14	Apartment
2140 Rolling Green Trl Unit 2134, North Mankato	$1,975	3 / 2	1,652	39.9 mi	2024-04-16	Apartment
226 Marcy /Lower 3 Bed St Unit Main, Mankato	$1,485	3 / 1	1,402	42.4 mi	2025-03-25	Apartment
488 N Welco Dr Apt 24, Montgomery	$1,125	3 / 1	1,000	42.6 mi	—	Apartment
117 Cherry St, Mankato	$1,640	3 / 1	950	42.8 mi	2026-06-20	Apartment
920 Patriot Dr, Mankato	$1,395	3 / 1.5	1,285	42.9 mi	2026-05-15	Apartment
120 Locust St Apt 7, Mankato	$1,148	3 / 2	—	43.0 mi	2024-05-02	Apartment
1027 E Main St Unit 2, Mankato	$1,200	3 / 1	995	43.3 mi	2025-07-15	Duplex triplex
200 Briargate Rd, Mankato	$1,719	3 / 2	1,285	43.9 mi	2025-08-05	Apartment
140 Homestead Rd, Mankato	$1,208	3 / 1	1,054	44.0 mi	2026-04-03	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 S
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "with tenant paying heat/gas, electric, and garbage. Two month-to-month leases provide flexibility for a new owner to"

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 184 days on market

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.	$5,732
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,590
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

2026-04-04New at $319,900

From the listing Listing

Listed as	triplex
Property tax, 2026	$5,732
County	McLeod
Parcel number	160680250

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 Brownton on rental licensing before you buy.