32969 Laplant Rd

Grand Rapids, MN · View the listing ↗

Far off

18 photos

Photos courtesy of Keller Williams Classic Realty, via Realtor.com.

Asking price: $550,000
Monthly cash flow: −$1,376
Estimated rent: $3,800/mo
Break-even price: $291,409

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: $550,000
Cash to close: $126,500
Price per unit: $275,000
GRM: 12.1

Each month

Cash flow: −$1,376/mo
Cash-on-cash: −13.1%
Cap rate: 3.4%
DSCR: 0.53×

Break-even

Price that breaks even: $291,409
Rent that breaks even: $5,565/mo

Long run

Year 30: property vs stocks: $1.26M vs $2.00M
Cash flow turns positive: year 27

Monthly

Monthly breakdown

Rent	$3,800
Vacancy (6%)	−$228
Collected	$3,572
Property tax Estimate	−$962
Insurance Estimate	−$220
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$304
Capital reserve (8% of rent)	−$304
Net operating income	$1,551
Mortgage (principal + interest)	−$2,927
Cash flow	−$1,376
Principal paid down (equity, not cash)	$372

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	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 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	$1,254,895
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($383,571 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,546,262
What you'd walk away with	$2,090,538
Building minus stocks	−$835,643

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 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	$1,254,895
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($567,105 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,046,323
What you'd walk away with	$2,590,599
Building minus stocks	−$1,335,704

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 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	$1,232,078
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($361,745 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,476,649
What you'd walk away with	$2,011,029
Building minus stocks	−$778,951

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 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	$1,232,078
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($545,280 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,976,710
What you'd walk away with	$2,511,090
Building minus stocks	−$1,279,012

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 of principal by year 30	$0
Plus rental profits, invested at 7%$5,587 of profit by year 30, before investment growth	$5,876
What you'd walk away with	$1,260,771
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($242,578 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,041,636
What you'd walk away with	$2,004,587
Building minus stocks	−$743,816

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 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	$1,254,895
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($420,525 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,535,822
What you'd walk away with	$2,498,772
Building minus stocks	−$1,243,877

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$8,141 of profit by year 30, before investment growth	$8,712
What you'd walk away with	$1,240,790
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($225,972 total by yr 30) investedThe money you'd have put into the building while it lost money	$984,141
What you'd walk away with	$1,929,583
Building minus stocks	−$688,793

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 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	$1,232,078
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($401,365 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,475,491
What you'd walk away with	$2,420,933
Building minus stocks	−$1,188,855

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 of principal by year 30	$0
Plus rental profits, invested at 7%$16,490 of profit by year 30, before investment growth	$18,465
What you'd walk away with	$1,273,359
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($187,616 total by yr 30) investedThe money you'd have put into the building while it lost money	$846,837
What you'd walk away with	$2,019,124
Building minus stocks	−$745,765

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 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	$1,254,895
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($354,660 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,328,433
What you'd walk away with	$2,500,721
Building minus stocks	−$1,245,826

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 of principal by year 30	$0
Plus rental profits, invested at 7%$20,539 of profit by year 30, before investment growth	$23,432
What you'd walk away with	$1,255,511
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($173,702 total by yr 30) investedThe money you'd have put into the building while it lost money	$795,244
What you'd walk away with	$1,946,217
Building minus stocks	−$690,706

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 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	$1,232,078
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($336,697 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,271,873
What you'd walk away with	$2,422,846
Building minus stocks	−$1,190,768

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 $1.26M, stocks $2.00M. 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 $1,900/mo · range $1,775–$2,050 · 14 rentals within 5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2199 SW 8th St # 233, Grand Rapids	$1,950	2 / 1	1,182	5.0 mi	—	Apartment
2199 SW 8th St # 118, Grand Rapids	$1,750	2 / 1	937	5.0 mi	—	Apartment
2199 SW 8th St # 401, Grand Rapids	$1,975	2 / 2	1,152	5.0 mi	—	Apartment
2199 SW 8th St # 314, Grand Rapids	$1,695	2 / 1	995	5.0 mi	—	Apartment
2199 SW 8th St # 230, Grand Rapids	$1,725	2 / 1	972	5.0 mi	—	Apartment
2199 SW 8th St # 428, Grand Rapids	$1,775	2 / 1	972	5.0 mi	—	Apartment
2199 SW 8th St # 422, Grand Rapids	$1,875	2 / 1	1,046	5.0 mi	—	Apartment
2199 SW 8th St # 224, Grand Rapids	$1,895	2 / 1	1,031	5.0 mi	—	Apartment
2199 SW 8th St # 222, Grand Rapids	$1,825	2 / 1	1,046	5.0 mi	—	Apartment
2199 SW 8th St # 202, Grand Rapids	$1,925	2 / 2	1,207	5.0 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 32969 LAPLANT RD
mediumAsking is $258,591 above the price where cash flow breaks even ($291,409) at the default scenario. Based on: Derived: price $550,000 vs. break-even $291,409

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 605 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 Estimateestimate. No tax record found; 2.1% of price.	$11,550
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,646
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

2025-02-07Price increase at $550,000 (was $450,000) · from listing history
2025-02-07New at $550,000

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Grand Rapids on rental licensing before you buy.