2920 18th Ave NW

Overpriced

19 photos

Photos, via Realtor.com.

Asking price: $384,000
Monthly cash flow: −$801
Estimated rent: $2,700/mo
Break-even price: $233,540

Adjust the numbers See the full breakdown

From the listing

First time ever offered for sale, this original-owner duplex presents a rare opportunity for both owner-occupants and investors alike. Built in 1977 and thoughtfully maintained through private ownership and management, the property reflects years of consistent care and pride of ownership. Each side-by-side unit offers approximately 1,200 square feet, with private exterior entrances and a detached single-car garage space, creating a desirable setup for tenants seeking privacy and convenience. The functional floor plan features the living room, dining area, and kitchen on the upper level, while the lower level includes two bedrooms, a full bath, and in-unit laundry. Separately metered utilities allow tenants to pay all utilities directly, simplifying management and reducing owner expenses. Flexible current lease terms provide options for future occupancy or investment strategy. Conveniently located in the NW Crescent Park neighborhood, it is on the bus line. This property offers strong rental appeal and long-term potential, with a proven layout that continues to attract reliable tenants.

Description from Realtor.com, MLS #7080386. 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: $384,000
Cash to close: $88,320
Price per unit: $192,000
GRM: 11.9

Each month

Cash flow: −$801/mo
Cash-on-cash: −10.9%
Cap rate: 3.9%
DSCR: 0.61×

Break-even

Price that breaks even: $233,540
Rent that breaks even: $3,727/mo

Long run

Year 30: property vs stocks: $921K vs $1.18M
Cash flow turns positive: year 21

Monthly

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Listing	−$431
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (8% of rent)	−$216
Net operating income	$1,243
Mortgage (principal + interest)	−$2,044
Cash flow	−$801
Principal paid down (equity, not cash)	$260

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	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $345,600 of principal by year 30	$0
Plus rental profits, invested at 7%$11,866 of profit by year 30, before investment growth	$13,093
What you'd walk away with	$889,238
If you put the same money in stocks
Cash to close ($49,920) invested at 7%	$380,004
Monthly shortfalls ($182,255 total by yr 30) investedThe money you'd have put into the building while it lost money	$832,223
What you'd walk away with	$1,212,227
Building minus stocks	−$322,989

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $345,600 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	$876,145
If you put the same money in stocks
Cash to close ($49,920) invested at 7%	$380,004
Monthly shortfalls ($300,795 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,174,437
What you'd walk away with	$1,554,440
Building minus stocks	−$678,295

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $336,600 of principal by year 30	$0
Plus rental profits, invested at 7%$16,334 of profit by year 30, before investment growth	$18,469
What you'd walk away with	$871,797
If you put the same money in stocks
Cash to close ($48,620) invested at 7%	$370,108
Monthly shortfalls ($164,897 total by yr 30) investedThe money you'd have put into the building while it lost money	$767,986
What you'd walk away with	$1,138,093
Building minus stocks	−$266,296

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $336,600 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	$853,328
If you put the same money in stocks
Cash to close ($48,620) invested at 7%	$370,108
Monthly shortfalls ($278,970 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,104,823
What you'd walk away with	$1,474,931
Building minus stocks	−$621,603

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $307,200 of principal by year 30	$0
Plus rental profits, invested at 7%$36,261 of profit by year 30, before investment growth	$44,645
What you'd walk away with	$920,790
If you put the same money in stocks
Cash to close ($88,320) invested at 7%	$672,314
Monthly shortfalls ($104,311 total by yr 30) investedThe money you'd have put into the building while it lost money	$507,353
What you'd walk away with	$1,179,667
Building minus stocks	−$258,877

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $307,200 of principal by year 30	$0
Plus rental profits, invested at 7%$486 of profit by year 30, before investment growth	$486
What you'd walk away with	$876,630
If you put the same money in stocks
Cash to close ($88,320) invested at 7%	$672,314
Monthly shortfalls ($198,942 total by yr 30) investedThe money you'd have put into the building while it lost money	$818,500
What you'd walk away with	$1,490,814
Building minus stocks	−$614,184

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $299,200 of principal by year 30	$0
Plus rental profits, invested at 7%$43,166 of profit by year 30, before investment growth	$54,489
What you'd walk away with	$907,818
If you put the same money in stocks
Cash to close ($86,020) invested at 7%	$654,806
Monthly shortfalls ($92,055 total by yr 30) investedThe money you'd have put into the building while it lost money	$456,865
What you'd walk away with	$1,111,671
Building minus stocks	−$203,853

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $299,200 of principal by year 30	$0
Plus rental profits, invested at 7%$1,652 of profit by year 30, before investment growth	$1,689
What you'd walk away with	$855,017
If you put the same money in stocks
Cash to close ($86,020) invested at 7%	$654,806
Monthly shortfalls ($180,947 total by yr 30) investedThe money you'd have put into the building while it lost money	$759,372
What you'd walk away with	$1,414,178
Building minus stocks	−$559,161

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $288,000 of principal by year 30	$0
Plus rental profits, invested at 7%$53,989 of profit by year 30, before investment growth	$70,708
What you'd walk away with	$946,853
If you put the same money in stocks
Cash to close ($107,520) invested at 7%	$818,470
Monthly shortfalls ($76,053 total by yr 30) investedThe money you'd have put into the building while it lost money	$388,621
What you'd walk away with	$1,207,090
Building minus stocks	−$260,237

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$932,069
Minus 6% selling cost	−$55,924
Minus loan still owedTenants' rent paid down all $288,000 of principal by year 30	$0
Plus rental profits, invested at 7%$4,545 of profit by year 30, before investment growth	$4,826
What you'd walk away with	$880,971
If you put the same money in stocks
Cash to close ($107,520) invested at 7%	$818,470
Monthly shortfalls ($157,016 total by yr 30) investedThe money you'd have put into the building while it lost money	$678,045
What you'd walk away with	$1,496,515
Building minus stocks	−$615,544

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $280,500 of principal by year 30	$0
Plus rental profits, invested at 7%$61,976 of profit by year 30, before investment growth	$83,257
What you'd walk away with	$936,585
If you put the same money in stocks
Cash to close ($104,720) invested at 7%	$797,155
Monthly shortfalls ($66,077 total by yr 30) investedThe money you'd have put into the building while it lost money	$344,609
What you'd walk away with	$1,141,764
Building minus stocks	−$205,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$907,796
Minus 6% selling cost	−$54,468
Minus loan still owedTenants' rent paid down all $280,500 of principal by year 30	$0
Plus rental profits, invested at 7%$7,247 of profit by year 30, before investment growth	$7,887
What you'd walk away with	$861,216
If you put the same money in stocks
Cash to close ($104,720) invested at 7%	$797,155
Monthly shortfalls ($141,755 total by yr 30) investedThe money you'd have put into the building while it lost money	$624,546
What you'd walk away with	$1,421,701
Building minus stocks	−$560,485

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 $921K, stocks $1.18M. Stocks win.

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 $1,350/mo · range $1,225–$1,425 · 15 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2438 18 1/2 Ave NW, Rochester	$1,135	2 / 1	900	0.5 mi	2025-12-01	Apartment
3906 18th Ave NW, Rochester	$995	2 / 1	765	0.6 mi	2025-05-02	Apartment
3908 19th Ave NW, Rochester	$1,415	2 / 1.5	1,160	0.6 mi	2025-12-01	Apartment
1720-1722 41st St NW, Rochester	$1,275	2 / 1	—	0.7 mi	2026-05-30	Apartment
1515 41st St NW, Rochester	$1,334	2 / 1.5	940	0.8 mi	2026-07-10	Apartment
936 41st St NW, Rochester	$1,159	2 / 1	860	0.9 mi	2025-01-03	Apartment
2414 30th Ave NW Apt A, Rochester	$1,130	2 / 1	900	0.9 mi	—	Apartment
2414 30th Ave NW Apt B, Rochester	$1,175	2 / 1	900	0.9 mi	—	Apartment
937 41st St NW, Rochester	$1,370	2 / 1	988	0.9 mi	2026-01-03	Apartment
2015 41st St NW, Rochester	$1,305	2 / 1.5	1,110	0.9 mi	2025-04-12	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 2920 18TH AVE NW
mediumAsking is $150,460 above the price where cash flow breaks even ($233,540) at the default scenario. Based on: Derived: price $384,000 vs. break-even $233,540

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 130 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.	$5,172
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,424
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. base rate	8% / 8%

Status history

2026-05-28New at $384,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$5,172
County	Olmsted
Parcel number	742242004854

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 Rochester on rental licensing before you buy.