39208-39214 Grand Ave

Overpriced

29 photos

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

Asking price: $800,000
Monthly cash flow: −$1,514
Estimated rent: $5,100/mo
Break-even price: $515,633

Adjust the numbers See the full breakdown

From the listing

Looking for your next investment?? This property is it! 4 rented out town homes in North Branch MN. Each unit has it's own garage for tenants plus each unit is fenced in for privacy. The tenants have been renting here for many years and are reliable. This property offers solid rental income with multiple clean, functional units featuring practical layouts and good natural light. All the tenants have passed background checks and do not cause issues. They all have year leases and with Off street parking, mature trees, and usable yard space add convenience and curb appeal. A strong investment opportunity in a desirable location.

Listing courtesy of Edina Realty, Inc. (Shelby Peltier). Description from Realtor.com, MLS #7140649. 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: $800,000
Cash to close: $184,000
Price per unit: $200,000
GRM: 13.1

Each month

Cash flow: −$1,514/mo
Cash-on-cash: −9.9%
Cap rate: 4.1%
DSCR: 0.64×

Break-even

Price that breaks even: $515,633
Rent that breaks even: $7,066/mo

Long run

Year 30: property vs stocks: $2.01M vs $2.26M
Cash flow turns positive: year 18

Monthly

Monthly breakdown

Rent	$5,100
Vacancy (6%)	−$306
Collected	$4,794
Property tax Listing	−$417
Insurance Estimate	−$366
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$459
Capital reserve (8% of rent)	−$408
Net operating income	$2,744
Mortgage (principal + interest)	−$4,258
Cash flow	−$1,514
Principal paid down (equity, not cash)	$542

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	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $720,000 of principal by year 30	$0
Plus rental profits, invested at 7%$70,231 of profit by year 30, before investment growth	$84,013
What you'd walk away with	$1,909,315
If you put the same money in stocks
Cash to close ($104,000) invested at 7%	$791,675
Monthly shortfalls ($306,928 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,493,025
What you'd walk away with	$2,284,700
Building minus stocks	−$375,385

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $720,000 of principal by year 30	$0
Plus rental profits, invested at 7%$4,189 of profit by year 30, before investment growth	$4,280
What you'd walk away with	$1,829,582
If you put the same money in stocks
Cash to close ($104,000) invested at 7%	$791,675
Monthly shortfalls ($487,209 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,084,427
What you'd walk away with	$2,876,102
Building minus stocks	−$1,046,520

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $711,000 of principal by year 30	$0
Plus rental profits, invested at 7%$76,808 of profit by year 30, before investment growth	$92,823
What you'd walk away with	$1,895,308
If you put the same money in stocks
Cash to close ($102,700) invested at 7%	$781,779
Monthly shortfalls ($291,680 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,432,222
What you'd walk away with	$2,214,000
Building minus stocks	−$318,692

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $711,000 of principal by year 30	$0
Plus rental profits, invested at 7%$6,112 of profit by year 30, before investment growth	$6,324
What you'd walk away with	$1,808,809
If you put the same money in stocks
Cash to close ($102,700) invested at 7%	$781,779
Monthly shortfalls ($467,306 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,016,858
What you'd walk away with	$2,798,637
Building minus stocks	−$989,828

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $640,000 of principal by year 30	$0
Plus rental profits, invested at 7%$141,842 of profit by year 30, before investment growth	$188,326
What you'd walk away with	$2,013,628
If you put the same money in stocks
Cash to close ($184,000) invested at 7%	$1,400,655
Monthly shortfalls ($165,333 total by yr 30) investedThe money you'd have put into the building while it lost money	$854,791
What you'd walk away with	$2,255,446
Building minus stocks	−$241,818

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $640,000 of principal by year 30	$0
Plus rental profits, invested at 7%$33,121 of profit by year 30, before investment growth	$37,496
What you'd walk away with	$1,862,797
If you put the same money in stocks
Cash to close ($184,000) invested at 7%	$1,400,655
Monthly shortfalls ($302,934 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,375,096
What you'd walk away with	$2,775,751
Building minus stocks	−$912,954

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $632,000 of principal by year 30	$0
Plus rental profits, invested at 7%$150,702 of profit by year 30, before investment growth	$202,531
What you'd walk away with	$2,005,016
If you put the same money in stocks
Cash to close ($181,700) invested at 7%	$1,383,147
Monthly shortfalls ($155,032 total by yr 30) investedThe money you'd have put into the building while it lost money	$808,665
What you'd walk away with	$2,191,811
Building minus stocks	−$186,795

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $632,000 of principal by year 30	$0
Plus rental profits, invested at 7%$37,592 of profit by year 30, before investment growth	$43,023
What you'd walk away with	$1,845,508
If you put the same money in stocks
Cash to close ($181,700) invested at 7%	$1,383,147
Monthly shortfalls ($288,244 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,320,292
What you'd walk away with	$2,703,438
Building minus stocks	−$857,930

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $600,000 of principal by year 30	$0
Plus rental profits, invested at 7%$188,616 of profit by year 30, before investment growth	$265,753
What you'd walk away with	$2,091,055
If you put the same money in stocks
Cash to close ($224,000) invested at 7%	$1,705,145
Monthly shortfalls ($116,303 total by yr 30) investedThe money you'd have put into the building while it lost money	$630,562
What you'd walk away with	$2,335,707
Building minus stocks	−$244,652

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,941,810
Minus 6% selling cost	−$116,509
Minus loan still owedTenants' rent paid down all $600,000 of principal by year 30	$0
Plus rental profits, invested at 7%$58,604 of profit by year 30, before investment growth	$70,259
What you'd walk away with	$1,895,560
If you put the same money in stocks
Cash to close ($224,000) invested at 7%	$1,705,145
Monthly shortfalls ($232,614 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,106,203
What you'd walk away with	$2,811,348
Building minus stocks	−$915,788

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $592,500 of principal by year 30	$0
Plus rental profits, invested at 7%$198,197 of profit by year 30, before investment growth	$282,452
What you'd walk away with	$2,084,937
If you put the same money in stocks
Cash to close ($221,200) invested at 7%	$1,683,831
Monthly shortfalls ($107,920 total by yr 30) investedThe money you'd have put into the building while it lost money	$590,700
What you'd walk away with	$2,274,531
Building minus stocks	−$189,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,917,537
Minus 6% selling cost	−$115,052
Minus loan still owedTenants' rent paid down all $592,500 of principal by year 30	$0
Plus rental profits, invested at 7%$64,213 of profit by year 30, before investment growth	$77,835
What you'd walk away with	$1,880,321
If you put the same money in stocks
Cash to close ($221,200) invested at 7%	$1,683,831
Monthly shortfalls ($220,259 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,057,219
What you'd walk away with	$2,741,049
Building minus stocks	−$860,728

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 $2.01M, stocks $2.26M. 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.

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
38516 Oakview Cir, North Branch	$1,525	3 / 1.5	1,260	1.1 mi	2026-01-23	Apartment
6001-6023 E Viking Blvd, Wyoming	$1,497	3 / 1	990	12.6 mi	2025-12-11	Apartment
1227 School St NE, Elk River	$1,750	3 / 1	947	32.7 mi	2026-03-13	Apartment
10740 County Road 37 NE, Albertville	$1,845	3 / 2	1,092	38.9 mi	2025-11-17	Apartment
19591 Station St, Big Lake	$1,695	3 / 2	1,210	39.0 mi	2025-01-03	Apartment
2205 Meadow Oak Ave, Monticello	$2,010	3 / 2	1,410	41.7 mi	2024-06-11	Apartment
1255 Edmonson Ave NE, Monticello	$1,890	3 / 2	1,393	43.1 mi	2025-04-29	Apartment
1812 16th St SE, Saint Cloud	$1,275	3 / 1	1,100	56.0 mi	2025-05-02	Apartment
1700 University Dr SE, Saint Cloud	$1,300	3 / 1	980	56.1 mi	2026-08-21	Apartment
1615 15th Ave SE, Saint Cloud	$2,317	3 / 2.5	1,675	56.3 mi	2026-03-25	Apartment

2 bed estimate $1,200/mo · range $975–$1,400 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
6495 Birch St, North Branch	$1,550	2 / 2	1,097	0.3 mi	2025-01-03	Apartment
26125 Main St, Zimmerman	$1,703	2 / 1	998	30.3 mi	2025-08-25	Apartment
107 19th Ave S, Princeton	$1,950	2 / 1.5	1,022	30.7 mi	2025-03-15	Apartment
103 19th Ave N, Princeton	$1,600	2 / 2	1,130	30.7 mi	2025-04-11	Apartment
19522 Holt St NW, Elk River	$1,450	2 / 1	830	31.6 mi	2026-07-21	Apartment
23 3rd St NW, Elk River	$1,195	2 / 1	850	31.8 mi	2026-06-04	Apartment
365 Baldwin Ave NW Apt 101, Elk River	$1,300	2 / 1	900	31.8 mi	2026-07-07	Apartment
17250 Twin Lake Rd NW, Elk River	$1,618	2 / 2	1,018	32.0 mi	2025-02-01	Apartment
341 Evans Ave NW, Elk River	$1,854	2 / 2	1,064	32.1 mi	2024-04-12	Apartment
1227 School St NE, Elk River	$1,475	2 / 1	936	32.7 mi	2026-03-13	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 39208-39214 GRAND AVE
mediumAsking is $284,367 above the price where cash flow breaks even ($515,633) at the default scenario. Based on: Derived: price $800,000 vs. break-even $515,633

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.	$5,000
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,391
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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. 9 bedrooms: +1 pt repairs for wear	9% / 8%

Status history

2026-09-09New at $800,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$5,000
County	Chisago

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 North Branch on rental licensing before you buy.