420 S Pokegama Ave

Grand Rapids, MN · View the listing ↗

Cash flows

22 photos

Photos courtesy of Move It Real Estate Group - Lakehomes, via Realtor.com.

Asking price: $169,000
Monthly cash flow: $1,166
Estimated rent: $3,300/mo
Break-even price: $388,154

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: $169,000
Cash to close: $38,870
Price per unit: $84,500
GRM: 4.3

Each month

Cash flow: $1,166/mo
Cash-on-cash: 36.0%
Cap rate: 14.7%
DSCR: 2.30×

Break-even

Price that breaks even: $388,154
Rent that breaks even: $1,805/mo

Long run

Year 30: property vs stocks: $2.53M vs $296K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Listing	−$90
Insurance Estimate	−$188
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (8% of rent)	−$264
Net operating income	$2,066
Mortgage (principal + interest)	−$899
Cash flow	$1,166
Principal paid down (equity, not cash)	$114

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	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $152,100 of principal by year 30	$0
Plus rental profits, invested at 7%$785,910 of profit by year 30, before investment growth	$1,990,280
What you'd walk away with	$2,375,874
If you put the same money in stocks
Cash to close ($21,970) invested at 7%	$167,241
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	$167,241
Building minus stocks	$2,208,633

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $152,100 of principal by year 30	$0
Plus rental profits, invested at 7%$626,525 of profit by year 30, before investment growth	$1,556,016
What you'd walk away with	$1,941,611
If you put the same money in stocks
Cash to close ($21,970) invested at 7%	$167,241
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	$167,241
Building minus stocks	$1,774,370

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $143,100 of principal by year 30	$0
Plus rental profits, invested at 7%$807,736 of profit by year 30, before investment growth	$2,059,893
What you'd walk away with	$2,422,671
If you put the same money in stocks
Cash to close ($20,670) invested at 7%	$157,345
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	$157,345
Building minus stocks	$2,265,326

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $143,100 of principal by year 30	$0
Plus rental profits, invested at 7%$648,350 of profit by year 30, before investment growth	$1,625,629
What you'd walk away with	$1,988,407
If you put the same money in stocks
Cash to close ($20,670) invested at 7%	$157,345
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	$157,345
Building minus stocks	$1,831,062

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $135,200 of principal by year 30	$0
Plus rental profits, invested at 7%$830,950 of profit by year 30, before investment growth	$2,147,143
What you'd walk away with	$2,532,738
If you put the same money in stocks
Cash to close ($38,870) invested at 7%	$295,888
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	$295,888
Building minus stocks	$2,236,850

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $135,200 of principal by year 30	$0
Plus rental profits, invested at 7%$671,565 of profit by year 30, before investment growth	$1,712,879
What you'd walk away with	$2,098,474
If you put the same money in stocks
Cash to close ($38,870) invested at 7%	$295,888
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	$295,888
Building minus stocks	$1,802,586

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $127,200 of principal by year 30	$0
Plus rental profits, invested at 7%$850,111 of profit by year 30, before investment growth	$2,207,474
What you'd walk away with	$2,570,253
If you put the same money in stocks
Cash to close ($36,570) invested at 7%	$278,380
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	$278,380
Building minus stocks	$2,291,873

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $127,200 of principal by year 30	$0
Plus rental profits, invested at 7%$690,725 of profit by year 30, before investment growth	$1,773,210
What you'd walk away with	$2,135,989
If you put the same money in stocks
Cash to close ($36,570) invested at 7%	$278,380
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	$278,380
Building minus stocks	$1,857,609

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $126,750 of principal by year 30	$0
Plus rental profits, invested at 7%$851,188 of profit by year 30, before investment growth	$2,210,867
What you'd walk away with	$2,596,462
If you put the same money in stocks
Cash to close ($47,320) invested at 7%	$360,212
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	$360,212
Building minus stocks	$2,236,250

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $126,750 of principal by year 30	$0
Plus rental profits, invested at 7%$691,803 of profit by year 30, before investment growth	$1,776,604
What you'd walk away with	$2,162,199
If you put the same money in stocks
Cash to close ($47,320) invested at 7%	$360,212
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	$360,212
Building minus stocks	$1,801,987

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $119,250 of principal by year 30	$0
Plus rental profits, invested at 7%$869,152 of profit by year 30, before investment growth	$2,267,428
What you'd walk away with	$2,630,207
If you put the same money in stocks
Cash to close ($44,520) invested at 7%	$338,898
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	$338,898
Building minus stocks	$2,291,309

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$385,935
Minus 6% selling cost	−$23,156
Minus loan still owedTenants' rent paid down all $119,250 of principal by year 30	$0
Plus rental profits, invested at 7%$709,766 of profit by year 30, before investment growth	$1,833,164
What you'd walk away with	$2,195,943
If you put the same money in stocks
Cash to close ($44,520) invested at 7%	$338,898
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	$338,898
Building minus stocks	$1,857,045

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 $2.53M, stocks $296K. 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 $1,900/mo · range $1,750–$2,050 · 15 rentals within 1.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
501 River Rd, Grand Rapids	$1,283	2 / 1	860	0.5 mi	—	Apartment
2199 SW 8th St # 233, Grand Rapids	$1,950	2 / 1	1,182	1.6 mi	—	Apartment
2199 SW 8th St # 118, Grand Rapids	$1,750	2 / 1	937	1.6 mi	—	Apartment
2199 SW 8th St # 401, Grand Rapids	$1,975	2 / 2	1,152	1.6 mi	—	Apartment
2199 SW 8th St # 314, Grand Rapids	$1,695	2 / 1	995	1.6 mi	—	Apartment
2199 SW 8th St # 230, Grand Rapids	$1,725	2 / 1	972	1.6 mi	—	Apartment
2199 SW 8th St # 428, Grand Rapids	$1,775	2 / 1	972	1.6 mi	—	Apartment
2199 SW 8th St # 422, Grand Rapids	$1,875	2 / 1	1,046	1.6 mi	—	Apartment
2199 SW 8th St # 224, Grand Rapids	$1,895	2 / 1	1,031	1.6 mi	—	Apartment
2199 SW 8th St # 222, Grand Rapids	$1,825	2 / 1	1,046	1.6 mi	—	Apartment

1 bed estimate $1,400/mo · range $1,275–$1,575 · 14 rentals within 1.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
212 NE 3rd Ave, Grand Rapids	$925	1 / 1	—	0.5 mi	2025-02-04	Apartment
1240 Golf Course Rd, Grand Rapids	$995	1 / 1	600	1.1 mi	2025-11-07	Apartment
2199 SW 8th St # 403, Grand Rapids	$1,250	1 / 1	662	1.6 mi	—	Apartment
2199 SW 8th St # 232, Grand Rapids	$1,475	1 / 1	772	1.6 mi	—	Apartment
2199 SW 8th St # 105, Grand Rapids	$1,325	1 / 1	662	1.6 mi	—	Apartment
2199 SW 8th St # 121, Grand Rapids	$1,425	1 / 1	716	1.6 mi	—	Apartment
2199 SW 8th St # 206, Grand Rapids	$1,375	1 / 1	717	1.6 mi	—	Apartment
2199 SW 8th St # 305, Grand Rapids	$1,295	1 / 1	662	1.6 mi	—	Apartment
2199 SW 8th St # 304, Grand Rapids	$1,525	1 / 1	846	1.6 mi	—	Apartment
2199 SW 8th St # 320, Grand Rapids	$1,625	1 / 1	908	1.6 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 420 POKEGAMA AVE S

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.	$1,075
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,262
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

2026-08-29New at $169,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$1,075
County	Itasca
Parcel number	915400140

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 Grand Rapids on rental licensing before you buy.