60 Grove St

Overpriced

42 photos

Photos courtesy of Exp Realty - Broker, via Realtor.com.

Asking price: $500,000
Monthly cash flow: −$868
Estimated rent: $3,400/mo
Break-even price: $336,871

Adjust the numbers See the full breakdown

From the listing

Welcome home to a property where every season feels like a vacation! This inviting duplex features thoughtful updates including newer carpet, updated electrical throughout, stylish light fixtures, and bright, sun-filled living spaces. The brand-new deck creates the perfect setting for summer barbecues, morning coffee, or evening gatherings, while the large backyard offers plenty of room to play and unwind. With lake access to White Bear Lake and shared dock, you'll enjoy endless days on the water just moments from home. Located within the award-winning Mahtomedi School District (#832), this place checks all the boxes. Don't miss your chance to own this incredible lakeside retreat, book your private tour today!

Listing courtesy of Exp Realty - Broker (Corey Brenner). Description from Realtor.com, MLS #7104773. 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: $500,000
Cash to close: $115,000
Price per unit: $250,000
GRM: 12.3

Each month

Cash flow: −$868/mo
Cash-on-cash: −9.1%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $336,871
Rent that breaks even: $4,528/mo

Long run

Year 30: property vs stocks: $1.29M vs $1.33M
Cash flow turns positive: year 16

Monthly

Monthly breakdown

Rent	$3,400
Vacancy (6%)	−$204
Collected	$3,196
Property tax Listing	−$375
Insurance Estimate	−$220
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$272
Capital reserve (9% of rent)	−$306
Net operating income	$1,793
Mortgage (principal + interest)	−$2,661
Cash flow	−$868
Principal paid down (equity, not cash)	$339

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	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $450,000 of principal by year 30	$0
Plus rental profits, invested at 7%$60,230 of profit by year 30, before investment growth	$74,694
What you'd walk away with	$1,215,508
If you put the same money in stocks
Cash to close ($65,000) invested at 7%	$494,797
Monthly shortfalls ($167,975 total by yr 30) investedThe money you'd have put into the building while it lost money	$842,367
What you'd walk away with	$1,337,164
Building minus stocks	−$121,656

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $450,000 of principal by year 30	$0
Plus rental profits, invested at 7%$6,530 of profit by year 30, before investment growth	$6,879
What you'd walk away with	$1,147,692
If you put the same money in stocks
Cash to close ($65,000) invested at 7%	$494,797
Monthly shortfalls ($278,491 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,221,975
What you'd walk away with	$1,716,771
Building minus stocks	−$569,079

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $441,000 of principal by year 30	$0
Plus rental profits, invested at 7%$68,133 of profit by year 30, before investment growth	$86,035
What you'd walk away with	$1,204,032
If you put the same money in stocks
Cash to close ($63,700) invested at 7%	$484,901
Monthly shortfalls ($154,053 total by yr 30) investedThe money you'd have put into the building while it lost money	$784,095
What you'd walk away with	$1,268,995
Building minus stocks	−$64,963

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $441,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,404 of profit by year 30, before investment growth	$10,069
What you'd walk away with	$1,128,066
If you put the same money in stocks
Cash to close ($63,700) invested at 7%	$484,901
Monthly shortfalls ($259,540 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,155,552
What you'd walk away with	$1,640,453
Building minus stocks	−$512,387

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $400,000 of principal by year 30	$0
Plus rental profits, invested at 7%$111,258 of profit by year 30, before investment growth	$153,611
What you'd walk away with	$1,294,424
If you put the same money in stocks
Cash to close ($115,000) invested at 7%	$875,409
Monthly shortfalls ($85,749 total by yr 30) investedThe money you'd have put into the building while it lost money	$457,192
What you'd walk away with	$1,332,601
Building minus stocks	−$38,177

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $400,000 of principal by year 30	$0
Plus rental profits, invested at 7%$29,982 of profit by year 30, before investment growth	$35,053
What you'd walk away with	$1,175,867
If you put the same money in stocks
Cash to close ($115,000) invested at 7%	$875,409
Monthly shortfalls ($168,688 total by yr 30) investedThe money you'd have put into the building while it lost money	$786,057
What you'd walk away with	$1,661,467
Building minus stocks	−$485,600

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $392,000 of principal by year 30	$0
Plus rental profits, invested at 7%$121,036 of profit by year 30, before investment growth	$170,207
What you'd walk away with	$1,288,204
If you put the same money in stocks
Cash to close ($112,700) invested at 7%	$857,901
Monthly shortfalls ($76,367 total by yr 30) investedThe money you'd have put into the building while it lost money	$413,456
What you'd walk away with	$1,271,357
Building minus stocks	$16,847

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $392,000 of principal by year 30	$0
Plus rental profits, invested at 7%$35,428 of profit by year 30, before investment growth	$42,185
What you'd walk away with	$1,160,182
If you put the same money in stocks
Cash to close ($112,700) invested at 7%	$857,901
Monthly shortfalls ($154,974 total by yr 30) investedThe money you'd have put into the building while it lost money	$732,858
What you'd walk away with	$1,590,759
Building minus stocks	−$430,577

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $375,000 of principal by year 30	$0
Plus rental profits, invested at 7%$143,465 of profit by year 30, before investment growth	$210,162
What you'd walk away with	$1,350,975
If you put the same money in stocks
Cash to close ($140,000) invested at 7%	$1,065,716
Monthly shortfalls ($58,079 total by yr 30) investedThe money you'd have put into the building while it lost money	$325,208
What you'd walk away with	$1,390,923
Building minus stocks	−$39,948

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $375,000 of principal by year 30	$0
Plus rental profits, invested at 7%$48,575 of profit by year 30, before investment growth	$60,163
What you'd walk away with	$1,200,976
If you put the same money in stocks
Cash to close ($140,000) invested at 7%	$1,065,716
Monthly shortfalls ($127,404 total by yr 30) investedThe money you'd have put into the building while it lost money	$622,632
What you'd walk away with	$1,688,348
Building minus stocks	−$487,372

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $367,500 of principal by year 30	$0
Plus rental profits, invested at 7%$154,135 of profit by year 30, before investment growth	$230,181
What you'd walk away with	$1,348,178
If you put the same money in stocks
Cash to close ($137,200) invested at 7%	$1,044,401
Monthly shortfalls ($50,787 total by yr 30) investedThe money you'd have put into the building while it lost money	$288,667
What you'd walk away with	$1,333,068
Building minus stocks	$15,110

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,359
Minus 6% selling cost	−$71,362
Minus loan still owedTenants' rent paid down all $367,500 of principal by year 30	$0
Plus rental profits, invested at 7%$55,161 of profit by year 30, before investment growth	$69,614
What you'd walk away with	$1,187,611
If you put the same money in stocks
Cash to close ($137,200) invested at 7%	$1,044,401
Monthly shortfalls ($116,027 total by yr 30) investedThe money you'd have put into the building while it lost money	$575,522
What you'd walk away with	$1,619,923
Building minus stocks	−$432,312

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 $1.29M, stocks $1.33M. 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 $1,700/mo · range $1,475–$1,900 · 6 rentals within 3 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
115 East Ave, Mahtomedi	$1,555	2 / 1	884	0.5 mi	2026-03-04	Apartment
2520 County Road F E, White Bear Lake	$1,430	2 / 1	862	1.6 mi	2025-01-03	Apartment
5680 Hadley Ave N, Oakdale	$1,832	2 / 2	1,090	2.4 mi	2026-01-09	Apartment
3100 Glen Oaks Ave, White Bear Lake	$1,985	2 / 2	1,115	2.4 mi	2025-05-08	Apartment
4008 White Bear Ave Unit 1, White Bear Lake	$1,500	2 / 1	900	2.7 mi	2026-09-28	Apartment
3185 Karth Rd, White Bear Lake	$1,870	2 / 2	1,080	3.0 mi	2025-01-03	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 60 GROVE ST
mediumAsking is $163,129 above the price where cash flow breaks even ($336,871) at the default scenario. Based on: Derived: price $500,000 vs. break-even $336,871

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 2025. 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.	$4,496
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,644
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 1901: +1 pt capital reserve	8% / 9%

Status history

2026-08-05New at $500,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2025	$4,496
County	Washington
Parcel number	2903021210020

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 Mahtomedi on rental licensing before you buy.