404 Main St

Cash flows

8 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $118,000
Monthly cash flow: $1,092
Estimated rent: $2,950/mo
Break-even price: $323,243

Adjust the numbers See the full breakdown

From the listing

Discover an outstanding opportunity with this up/down duplex located right on the edge of Downtown Austin. Situated just blocks away from the city's vibrant entertainment, restaurants, and cultural offerings, this property offers the quintessential Austin lifestyle. Both units feature spacious kitchens and living areas, ensuring comfortable and desirable living spaces for tenants. With such a prime location, you can expect high demand from renters who want to be in the heart of all that Austin has to offer. Investors and property owners will appreciate the ease of renting and the potential for steady rental income that this duplex presents. Don't miss the chance to own a piece of Austin's bustling downtown scene and make a sound investment in the heart of the city.

Listing courtesy of NRT-Minnesota (CB Burnet) (Mike Wilen). Description from Realtor.com, MLS #7004308. 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: $118,000
Cash to close: $27,140
Price per unit: $59,000
GRM: 3.3

Each month

Cash flow: $1,092/mo
Cash-on-cash: 48.3%
Cap rate: 17.5%
DSCR: 2.74×

Break-even

Price that breaks even: $323,243
Rent that breaks even: $1,531/mo

Long run

Year 30: property vs stocks: $2.18M vs $207K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,950
Vacancy (6%)	−$177
Collected	$2,773
Property tax Listing	−$119
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$236
Capital reserve (9% of rent)	−$266
Net operating income	$1,720
Mortgage (principal + interest)	−$628
Cash flow	$1,092
Principal paid down (equity, not cash)	$80

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	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $106,200 of principal by year 30	$0
Plus rental profits, invested at 7%$697,896 of profit by year 30, before investment growth	$1,803,949
What you'd walk away with	$2,073,181
If you put the same money in stocks
Cash to close ($15,340) invested at 7%	$116,772
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	$116,772
Building minus stocks	$1,956,409

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $106,200 of principal by year 30	$0
Plus rental profits, invested at 7%$555,415 of profit by year 30, before investment growth	$1,415,744
What you'd walk away with	$1,684,976
If you put the same money in stocks
Cash to close ($15,340) invested at 7%	$116,772
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	$116,772
Building minus stocks	$1,568,204

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $97,200 of principal by year 30	$0
Plus rental profits, invested at 7%$719,722 of profit by year 30, before investment growth	$1,873,562
What you'd walk away with	$2,119,978
If you put the same money in stocks
Cash to close ($14,040) invested at 7%	$106,876
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	$106,876
Building minus stocks	$2,013,102

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $97,200 of principal by year 30	$0
Plus rental profits, invested at 7%$577,241 of profit by year 30, before investment growth	$1,485,357
What you'd walk away with	$1,731,772
If you put the same money in stocks
Cash to close ($14,040) invested at 7%	$106,876
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	$106,876
Building minus stocks	$1,624,896

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $94,400 of principal by year 30	$0
Plus rental profits, invested at 7%$729,344 of profit by year 30, before investment growth	$1,913,475
What you'd walk away with	$2,182,707
If you put the same money in stocks
Cash to close ($27,140) invested at 7%	$206,597
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	$206,597
Building minus stocks	$1,976,110

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $94,400 of principal by year 30	$0
Plus rental profits, invested at 7%$586,863 of profit by year 30, before investment growth	$1,525,269
What you'd walk away with	$1,794,501
If you put the same money in stocks
Cash to close ($27,140) invested at 7%	$206,597
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	$206,597
Building minus stocks	$1,587,904

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $86,400 of principal by year 30	$0
Plus rental profits, invested at 7%$748,505 of profit by year 30, before investment growth	$1,973,806
What you'd walk away with	$2,220,222
If you put the same money in stocks
Cash to close ($24,840) invested at 7%	$189,088
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	$189,088
Building minus stocks	$2,031,134

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $86,400 of principal by year 30	$0
Plus rental profits, invested at 7%$606,024 of profit by year 30, before investment growth	$1,585,601
What you'd walk away with	$1,832,016
If you put the same money in stocks
Cash to close ($24,840) invested at 7%	$189,088
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	$189,088
Building minus stocks	$1,642,928

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $88,500 of principal by year 30	$0
Plus rental profits, invested at 7%$743,475 of profit by year 30, before investment growth	$1,957,969
What you'd walk away with	$2,227,201
If you put the same money in stocks
Cash to close ($33,040) invested at 7%	$251,509
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	$251,509
Building minus stocks	$1,975,692

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$286,417
Minus 6% selling cost	−$17,185
Minus loan still owedTenants' rent paid down all $88,500 of principal by year 30	$0
Plus rental profits, invested at 7%$600,994 of profit by year 30, before investment growth	$1,569,764
What you'd walk away with	$1,838,996
If you put the same money in stocks
Cash to close ($33,040) invested at 7%	$251,509
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	$251,509
Building minus stocks	$1,587,487

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $81,000 of principal by year 30	$0
Plus rental profits, invested at 7%$761,438 of profit by year 30, before investment growth	$2,014,530
What you'd walk away with	$2,260,945
If you put the same money in stocks
Cash to close ($30,240) invested at 7%	$230,195
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	$230,195
Building minus stocks	$2,030,750

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$262,144
Minus 6% selling cost	−$15,729
Minus loan still owedTenants' rent paid down all $81,000 of principal by year 30	$0
Plus rental profits, invested at 7%$618,957 of profit by year 30, before investment growth	$1,626,324
What you'd walk away with	$1,872,740
If you put the same money in stocks
Cash to close ($30,240) invested at 7%	$230,195
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	$230,195
Building minus stocks	$1,642,545

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 $2.18M, stocks $207K. 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.

3 bed estimate $1,475/mo · range $1,275–$1,700 · 141 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3rd St SE, Austin	$1,295	3 / 2	1,225	0.2 mi	2026-03-20	Apartment
1105 3rd St NW, Austin	$1,300	3 / 1	950	0.9 mi	2025-07-30	Apartment
2nd Dr NE, Austin	$1,275	3 / 1.5	1,296	1.0 mi	2026-09-26	Apartment
203 31st St SW, Austin	$1,270	3 / 2	1,096	2.2 mi	2025-01-03	Apartment
1730 Restoration Rd SW, Rochester	$1,618	3 / 2	1,173	34.0 mi	2026-08-28	Apartment
560 28th St SE, Rochester	$2,199	3 / 2	1,334	34.0 mi	2025-01-03	Apartment
182 Grandeville Rd SW, Rochester	$2,242	3 / 2	1,440	34.3 mi	2025-01-03	Apartment
1990 Ashland Dr NW, Rochester	$1,570	3 / 2	1,167	34.5 mi	2025-04-08	Apartment
1823 Quarry Ridge Pl NW, Rochester	$1,975	3 / 2	1,341	34.8 mi	2025-01-03	Apartment
412 14th St SE, Rochester	$1,070	3 / 1	941	34.9 mi	2025-04-19	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 404 MAIN ST

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 276 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 2024. 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.	$1,424
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,429
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 1888: +1 pt capital reserve	8% / 9%

Status history

2026-01-02New at $118,000

From the listing Listing

Listed as	duplex other
Property tax, 2024	$1,424
County	Mower
Parcel number	1

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 Austin on rental licensing before you buy.