731 College Ave

Red Wing, MN · View the listing ↗

Overpriced

24 photos

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

Asking price: $239,000
Monthly cash flow: −$425
Estimated rent: $1,950/mo
Break-even price: $159,232

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: $239,000
Cash to close: $54,970
Price per unit: $119,500
GRM: 10.2

Each month

Cash flow: −$425/mo
Cash-on-cash: −9.3%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $159,232
Rent that breaks even: $2,501/mo

Long run

Year 30: property vs stocks: $598K vs $655K
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$1,950
Vacancy (6%)	−$117
Collected	$1,833
Property tax Listing	−$222
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$156
Capital reserve (9% of rent)	−$176
Net operating income	$848
Mortgage (principal + interest)	−$1,272
Cash flow	−$425
Principal paid down (equity, not cash)	$162

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	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $215,100 of principal by year 30	$0
Plus rental profits, invested at 7%$18,386 of profit by year 30, before investment growth	$21,911
What you'd walk away with	$567,219
If you put the same money in stocks
Cash to close ($31,070) invested at 7%	$236,513
Monthly shortfalls ($87,943 total by yr 30) investedThe money you'd have put into the building while it lost money	$427,604
What you'd walk away with	$664,117
Building minus stocks	−$96,898

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $215,100 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$545,309
If you put the same money in stocks
Cash to close ($31,070) invested at 7%	$236,513
Monthly shortfalls ($163,740 total by yr 30) investedThe money you'd have put into the building while it lost money	$662,304
What you'd walk away with	$898,817
Building minus stocks	−$353,508

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $206,100 of principal by year 30	$0
Plus rental profits, invested at 7%$25,378 of profit by year 30, before investment growth	$31,489
What you'd walk away with	$553,982
If you put the same money in stocks
Cash to close ($29,770) invested at 7%	$226,617
Monthly shortfalls ($73,109 total by yr 30) investedThe money you'd have put into the building while it lost money	$367,570
What you'd walk away with	$594,186
Building minus stocks	−$40,204

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $206,100 of principal by year 30	$0
Plus rental profits, invested at 7%$58 of profit by year 30, before investment growth	$58
What you'd walk away with	$522,551
If you put the same money in stocks
Cash to close ($29,770) invested at 7%	$226,617
Monthly shortfalls ($141,972 total by yr 30) investedThe money you'd have put into the building while it lost money	$592,749
What you'd walk away with	$819,366
Building minus stocks	−$296,815

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $191,200 of principal by year 30	$0
Plus rental profits, invested at 7%$39,767 of profit by year 30, before investment growth	$53,086
What you'd walk away with	$598,395
If you put the same money in stocks
Cash to close ($54,970) invested at 7%	$418,446
Monthly shortfalls ($45,629 total by yr 30) investedThe money you'd have put into the building while it lost money	$236,944
What you'd walk away with	$655,389
Building minus stocks	−$56,994

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $191,200 of principal by year 30	$0
Plus rental profits, invested at 7%$2,736 of profit by year 30, before investment growth	$2,897
What you'd walk away with	$548,205
If you put the same money in stocks
Cash to close ($54,970) invested at 7%	$418,446
Monthly shortfalls ($102,780 total by yr 30) investedThe money you'd have put into the building while it lost money	$443,365
What you'd walk away with	$861,810
Building minus stocks	−$313,605

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $183,200 of principal by year 30	$0
Plus rental profits, invested at 7%$49,006 of profit by year 30, before investment growth	$68,256
What you'd walk away with	$590,748
If you put the same money in stocks
Cash to close ($52,670) invested at 7%	$400,937
Monthly shortfalls ($35,707 total by yr 30) investedThe money you'd have put into the building while it lost money	$191,782
What you'd walk away with	$592,719
Building minus stocks	−$1,971

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $183,200 of principal by year 30	$0
Plus rental profits, invested at 7%$5,756 of profit by year 30, before investment growth	$6,347
What you'd walk away with	$528,840
If you put the same money in stocks
Cash to close ($52,670) invested at 7%	$400,937
Monthly shortfalls ($86,639 total by yr 30) investedThe money you'd have put into the building while it lost money	$386,484
What you'd walk away with	$787,421
Building minus stocks	−$258,581

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $179,250 of principal by year 30	$0
Plus rental profits, invested at 7%$53,976 of profit by year 30, before investment growth	$76,842
What you'd walk away with	$622,150
If you put the same money in stocks
Cash to close ($66,920) invested at 7%	$509,412
Monthly shortfalls ($31,217 total by yr 30) investedThe money you'd have put into the building while it lost money	$170,579
What you'd walk away with	$679,991
Building minus stocks	−$57,841

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $179,250 of principal by year 30	$0
Plus rental profits, invested at 7%$7,677 of profit by year 30, before investment growth	$8,646
What you'd walk away with	$553,955
If you put the same money in stocks
Cash to close ($66,920) invested at 7%	$509,412
Monthly shortfalls ($79,099 total by yr 30) investedThe money you'd have put into the building while it lost money	$358,995
What you'd walk away with	$868,407
Building minus stocks	−$314,452

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $171,750 of principal by year 30	$0
Plus rental profits, invested at 7%$64,149 of profit by year 30, before investment growth	$95,315
What you'd walk away with	$617,807
If you put the same money in stocks
Cash to close ($64,120) invested at 7%	$488,098
Monthly shortfalls ($23,427 total by yr 30) investedThe money you'd have put into the building while it lost money	$132,492
What you'd walk away with	$620,590
Building minus stocks	−$2,783

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$555,843
Minus 6% selling cost	−$33,351
Minus loan still owedTenants' rent paid down all $171,750 of principal by year 30	$0
Plus rental profits, invested at 7%$12,159 of profit by year 30, before investment growth	$14,296
What you'd walk away with	$536,788
If you put the same money in stocks
Cash to close ($64,120) invested at 7%	$488,098
Monthly shortfalls ($65,619 total by yr 30) investedThe money you'd have put into the building while it lost money	$308,083
What you'd walk away with	$796,181
Building minus stocks	−$259,393

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 $598K, stocks $655K. 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.

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

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
480 8th St W Unit 102, Red Wing	$1,350	1 / 1	443	0.2 mi	2026-09-04	Apartment
222 Bush St, Red Wing	$1,390	1 / 1	528	0.4 mi	2026-08-01	Apartment
314 W 4th St Apt 202, Red Wing	$1,450	1 / 1	591	0.5 mi	—	Apartment
314 W 4th St Apt 205, Red Wing	$1,360	1 / 1	519	0.5 mi	—	Apartment
1005 W Marion St, Lake City	$955	1 / 1	—	15.3 mi	2025-10-17	Apartment
321 Park St W, Cannon Falls	$500	1 / 1	550	18.6 mi	2025-01-03	Apartment
301 S Main St, Pine Island	$1,325	1 / 1	—	25.4 mi	2026-06-09	Apartment
215 Huseth St, Kenyon	$1,300	1 / 1	600	30.1 mi	2024-11-12	Apartment
6717 Gaillardia Dr NW, Rochester	$1,270	1 / 1	552	31.9 mi	2025-01-25	Apartment
6520 Clarkia Dr NW, Rochester	$1,455	1 / 1	720	32.2 mi	2025-04-02	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 731 COLLEGE AVE
mediumAsking is $79,768 above the price where cash flow breaks even ($159,232) at the default scenario. Based on: Derived: price $239,000 vs. break-even $159,232

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 136 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 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.	$2,668
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,420
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 1880: +1 pt capital reserve	8% / 9%

Status history

2026-05-22New at $239,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2025	$2,668
County	Goodhue
Parcel number	553000850

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 Red Wing on rental licensing before you buy.