617 W 3rd St

Cash flows

29 photos

Photos, via Realtor.com.

Asking price: $79,500
Monthly cash flow: $790
Estimated rent: $2,150/mo
Break-even price: $227,934

Adjust the numbers See the full breakdown

From the listing

Income property! This home could be used as your residence with either the upper or lower being rented out to another party. The upstair apartment is very nice with a rear entrance large kitchen, living, dining area, full bathroom, laundry room and 2 bedrooms! The main floor has 1 Bedroom and a newly remodeled bathroom. Living, Dining and Large kitchen, its own laundry room! The shingles and siding are just 2 years old! This could be a wonderful income property! With the added income of the additional rental option! There is a partial fence in the rear and yard. 2 Apartment building. Over/Under. Each has their own entrance. THE WAY IT SITS NOW IS MAIN FLOOR IS THE OWNER THE TOP RENTAL IS NOW VACANT, ON PURPOSE FOR THE SALE. THE OWNER TAKES CARE OF UTILITIES AND RENTS OUT THE UP APARTMENT FOR 800 MONTH. THE UTILITY EXPENSES ARE WATER, SEWER, ELECTRICITY, AND GARBAGE ARE ALL ON ONE BILL. THE GAS FOR HEATING IS SEPARATE, AND IS ESTIMATED. WILL PROVIDE MORE ACURATE INFORMATION IF YOU ARE AN INTERESTED PARTY.

Description from Realtor.com, MLS #7084703. 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: $79,500
Cash to close: $18,285
Price per unit: $39,750
GRM: 3.1

Each month

Cash flow: $790/mo
Cash-on-cash: 51.8%
Cap rate: 18.3%
DSCR: 2.87×

Break-even

Price that breaks even: $227,934
Rent that breaks even: $1,124/mo

Long run

Year 30: property vs stocks: $1.55M vs $139K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,150
Vacancy (6%)	−$129
Collected	$2,021
Property tax Listing	−$31
Insurance Estimate	−$181
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$172
Capital reserve (9% of rent)	−$194
Net operating income	$1,213
Mortgage (principal + interest)	−$423
Cash flow	$790
Principal paid down (equity, not cash)	$54

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	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $71,550 of principal by year 30	$0
Plus rental profits, invested at 7%$497,601 of profit by year 30, before investment growth	$1,292,910
What you'd walk away with	$1,474,299
If you put the same money in stocks
Cash to close ($10,335) invested at 7%	$78,673
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	$78,673
Building minus stocks	$1,395,626

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $71,550 of principal by year 30	$0
Plus rental profits, invested at 7%$393,759 of profit by year 30, before investment growth	$1,009,981
What you'd walk away with	$1,191,370
If you put the same money in stocks
Cash to close ($10,335) invested at 7%	$78,673
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	$78,673
Building minus stocks	$1,112,697

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $62,550 of principal by year 30	$0
Plus rental profits, invested at 7%$519,427 of profit by year 30, before investment growth	$1,362,523
What you'd walk away with	$1,521,096
If you put the same money in stocks
Cash to close ($9,035) invested at 7%	$68,777
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	$68,777
Building minus stocks	$1,452,319

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $62,550 of principal by year 30	$0
Plus rental profits, invested at 7%$415,585 of profit by year 30, before investment growth	$1,079,594
What you'd walk away with	$1,238,167
If you put the same money in stocks
Cash to close ($9,035) invested at 7%	$68,777
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	$68,777
Building minus stocks	$1,169,390

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $63,600 of principal by year 30	$0
Plus rental profits, invested at 7%$518,789 of profit by year 30, before investment growth	$1,366,701
What you'd walk away with	$1,548,090
If you put the same money in stocks
Cash to close ($18,285) invested at 7%	$139,190
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	$139,190
Building minus stocks	$1,408,900

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $63,600 of principal by year 30	$0
Plus rental profits, invested at 7%$414,947 of profit by year 30, before investment growth	$1,083,771
What you'd walk away with	$1,265,161
If you put the same money in stocks
Cash to close ($18,285) invested at 7%	$139,190
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	$139,190
Building minus stocks	$1,125,971

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $55,600 of principal by year 30	$0
Plus rental profits, invested at 7%$537,949 of profit by year 30, before investment growth	$1,427,032
What you'd walk away with	$1,585,605
If you put the same money in stocks
Cash to close ($15,985) invested at 7%	$121,682
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	$121,682
Building minus stocks	$1,463,923

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $55,600 of principal by year 30	$0
Plus rental profits, invested at 7%$434,107 of profit by year 30, before investment growth	$1,144,102
What you'd walk away with	$1,302,675
If you put the same money in stocks
Cash to close ($15,985) invested at 7%	$121,682
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	$121,682
Building minus stocks	$1,180,993

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $59,625 of principal by year 30	$0
Plus rental profits, invested at 7%$528,309 of profit by year 30, before investment growth	$1,396,678
What you'd walk away with	$1,578,067
If you put the same money in stocks
Cash to close ($22,260) invested at 7%	$169,449
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	$169,449
Building minus stocks	$1,408,618

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$192,967
Minus 6% selling cost	−$11,578
Minus loan still owedTenants' rent paid down all $59,625 of principal by year 30	$0
Plus rental profits, invested at 7%$424,467 of profit by year 30, before investment growth	$1,113,748
What you'd walk away with	$1,295,138
If you put the same money in stocks
Cash to close ($22,260) invested at 7%	$169,449
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	$169,449
Building minus stocks	$1,125,689

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $52,125 of principal by year 30	$0
Plus rental profits, invested at 7%$546,272 of profit by year 30, before investment growth	$1,453,238
What you'd walk away with	$1,611,811
If you put the same money in stocks
Cash to close ($19,460) invested at 7%	$148,134
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	$148,134
Building minus stocks	$1,463,677

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$168,695
Minus 6% selling cost	−$10,122
Minus loan still owedTenants' rent paid down all $52,125 of principal by year 30	$0
Plus rental profits, invested at 7%$442,430 of profit by year 30, before investment growth	$1,170,309
What you'd walk away with	$1,328,882
If you put the same money in stocks
Cash to close ($19,460) invested at 7%	$148,134
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	$148,134
Building minus stocks	$1,180,748

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 $1.55M, stocks $139K. 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 $1,175/mo · range $950–$1,375 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
215 S 5th St, Montevideo	$1,295	2 / 1	786	23.6 mi	2024-04-15	Apartment
110 N 17th St, Montevideo	$1,336	2 / 1	935	24.3 mi	2026-06-09	Apartment
1702 E Lincoln Ave, Montevideo	$1,250	2 / 1	1,132	24.3 mi	2024-12-16	Apartment
400-410 30th St NW, Willmar	$905	2 / 1	750	54.9 mi	2025-05-30	Apartment
420 30th St NW, Willmar	$950	2 / 1	827	54.9 mi	2026-08-17	Apartment
2601 15th Ave NW, Willmar	$925	2 / 1	—	55.1 mi	2025-04-29	Apartment
611 Pacific Ave SW, Willmar	$775	2 / 1	700	56.3 mi	2026-09-29	Apartment
316 Becker Ave SW Apt 31, Willmar	$1,450	2 / 1	961	56.5 mi	2026-09-17	Apartment
816 3rd St SW Unit 2B-DOWNSTAIRS, Willmar	$1,300	2 / 1	900	56.5 mi	2026-07-17	Duplex triplex
1116 2nd St SE, Willmar	$949	2 / 1	950	56.7 mi	2025-10-15	Apartment

1 bed estimate $975/mo · range $825–$1,250 · 357 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
101 Miawakon Ave, Montevideo	$625	1 / 1	—	23.2 mi	2025-12-13	Apartment
215 S 5th St, Montevideo	$725	1 / 1	532	23.6 mi	2024-04-15	Apartment
400-410 30th St NW, Willmar	$830	1 / 1	650	54.9 mi	2025-05-30	Apartment
420 30th St NW, Willmar	$925	1 / 1	734	54.9 mi	2026-08-17	Apartment
2601 15th Ave NW, Willmar	$995	1 / 1	530	55.1 mi	2025-04-29	Apartment
1441 Lake Ave NW Apt 305, Willmar	$686	1 / 1	550	55.7 mi	2026-10-01	Apartment
205 8th St SW, Willmar	$765	1 / 1	385	56.2 mi	2026-10-03	Apartment
542 Benson Efficient Ave SW Unit 224, Willmar	$790	1 / —	381	56.3 mi	2026-08-18	Apartment
542 Benson Ave SW Unit ENSUITE210, Willmar	$777	1 / —	230	56.3 mi	2026-08-18	Apartment
542 Benson Ave SW Apt 228, Willmar	$833	1 / —	381	56.3 mi	2026-07-07	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 617 3RD ST W

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 126 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 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.	$372
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,176
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 1900: +1 pt capital reserve	8% / 9%

Status history

2026-06-01New at $79,500

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$372
County	Lac qui Parle
Parcel number	540299000

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 Madison on rental licensing before you buy.