1105 16th Ave E

Hibbing, MN · View the listing ↗

Cash flows

28 photos

Photos courtesy of Coldwell Banker Northwoods Realty, via Realtor.com.

Asking price: $165,000
Monthly cash flow: $1,223
Estimated rent: $3,625/mo
Break-even price: $394,745

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: $165,000
Cash to close: $37,950
Price per unit: $55,000
GRM: 3.8

Each month

Cash flow: $1,223/mo
Cash-on-cash: 38.7%
Cap rate: 15.3%
DSCR: 2.39×

Break-even

Price that breaks even: $394,745
Rent that breaks even: $2,057/mo

Long run

Year 30: property vs stocks: $2.58M vs $289K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,625
Vacancy (6%)	−$218
Collected	$3,408
Property tax Listing	−$149
Insurance Estimate	−$262
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$290
Capital reserve (8% of rent)	−$290
Net operating income	$2,101
Mortgage (principal + interest)	−$878
Cash flow	$1,223
Principal paid down (equity, not cash)	$112

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	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $148,500 of principal by year 30	$0
Plus rental profits, invested at 7%$804,062 of profit by year 30, before investment growth	$2,052,583
What you'd walk away with	$2,429,051
If you put the same money in stocks
Cash to close ($21,450) invested at 7%	$163,283
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	$163,283
Building minus stocks	$2,265,768

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $148,500 of principal by year 30	$0
Plus rental profits, invested at 7%$628,979 of profit by year 30, before investment growth	$1,575,551
What you'd walk away with	$1,952,019
If you put the same money in stocks
Cash to close ($21,450) invested at 7%	$163,283
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	$163,283
Building minus stocks	$1,788,736

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $139,500 of principal by year 30	$0
Plus rental profits, invested at 7%$825,887 of profit by year 30, before investment growth	$2,122,196
What you'd walk away with	$2,475,848
If you put the same money in stocks
Cash to close ($20,150) invested at 7%	$153,387
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	$153,387
Building minus stocks	$2,322,461

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $139,500 of principal by year 30	$0
Plus rental profits, invested at 7%$650,805 of profit by year 30, before investment growth	$1,645,164
What you'd walk away with	$1,998,816
If you put the same money in stocks
Cash to close ($20,150) invested at 7%	$153,387
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	$153,387
Building minus stocks	$1,845,429

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $132,000 of principal by year 30	$0
Plus rental profits, invested at 7%$848,036 of profit by year 30, before investment growth	$2,205,733
What you'd walk away with	$2,582,202
If you put the same money in stocks
Cash to close ($37,950) invested at 7%	$288,885
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	$288,885
Building minus stocks	$2,293,317

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $132,000 of principal by year 30	$0
Plus rental profits, invested at 7%$672,953 of profit by year 30, before investment growth	$1,728,701
What you'd walk away with	$2,105,170
If you put the same money in stocks
Cash to close ($37,950) invested at 7%	$288,885
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	$288,885
Building minus stocks	$1,816,285

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $124,000 of principal by year 30	$0
Plus rental profits, invested at 7%$867,196 of profit by year 30, before investment growth	$2,266,065
What you'd walk away with	$2,619,717
If you put the same money in stocks
Cash to close ($35,650) invested at 7%	$271,377
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	$271,377
Building minus stocks	$2,348,340

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $124,000 of principal by year 30	$0
Plus rental profits, invested at 7%$692,114 of profit by year 30, before investment growth	$1,789,032
What you'd walk away with	$2,142,684
If you put the same money in stocks
Cash to close ($35,650) invested at 7%	$271,377
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	$271,377
Building minus stocks	$1,871,307

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $123,750 of principal by year 30	$0
Plus rental profits, invested at 7%$867,795 of profit by year 30, before investment growth	$2,267,950
What you'd walk away with	$2,644,418
If you put the same money in stocks
Cash to close ($46,200) invested at 7%	$351,686
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	$351,686
Building minus stocks	$2,292,732

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,498
Minus 6% selling cost	−$24,030
Minus loan still owedTenants' rent paid down all $123,750 of principal by year 30	$0
Plus rental profits, invested at 7%$692,713 of profit by year 30, before investment growth	$1,790,918
What you'd walk away with	$2,167,386
If you put the same money in stocks
Cash to close ($46,200) invested at 7%	$351,686
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	$351,686
Building minus stocks	$1,815,700

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $116,250 of principal by year 30	$0
Plus rental profits, invested at 7%$885,758 of profit by year 30, before investment growth	$2,324,510
What you'd walk away with	$2,678,163
If you put the same money in stocks
Cash to close ($43,400) invested at 7%	$330,372
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	$330,372
Building minus stocks	$2,347,791

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$376,226
Minus 6% selling cost	−$22,574
Minus loan still owedTenants' rent paid down all $116,250 of principal by year 30	$0
Plus rental profits, invested at 7%$710,676 of profit by year 30, before investment growth	$1,847,478
What you'd walk away with	$2,201,130
If you put the same money in stocks
Cash to close ($43,400) invested at 7%	$330,372
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	$330,372
Building minus stocks	$1,870,758

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 $2.58M, stocks $289K. 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 $1,225/mo · range $1,075–$1,650 · 48 rentals in St. Louis County

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
100 Southview Dr, Hibbing	$990	2 / 1	792	0.6 mi	—	Apartment
3505 9th Ave W, Hibbing	$748	2 / 1	627	2.5 mi	2024-11-16	Apartment
600 E 40th St, Hibbing	$1,170	2 / 1	860	2.5 mi	2025-04-16	Apartment
300 15th Ave W, Eveleth	$1,047	2 / 1	900	16.4 mi	2025-01-03	Apartment
8515 Parkvilla Dr, Mountain Iron	$1,295	2 / 1	928	16.8 mi	—	Apartment
707 S 5th Ave Apt 3, Virginia	$995	2 / 1	—	18.7 mi	2026-04-08	Apartment
201 N 5th Ave, Virginia	$958	2 / 1	—	18.9 mi	2026-02-01	Apartment
206 S 4th Ave E Unit 104, Virginia	$995	2 / 1	—	18.9 mi	—	Apartment
110 Anderson Dr # 44, Virginia	$1,065	2 / 1	850	19.2 mi	—	Apartment
410 W 3rd Ave N, Aurora	$970	2 / 1	840	32.2 mi	—	Apartment

1 bed estimate $1,200/mo · range $1,050–$1,400 · 36 rentals in St. Louis County

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
600 E 40th St, Hibbing	$995	1 / 1	599	2.5 mi	2025-04-16	Apartment
100 N Van Buren Ave, Eveleth	$1,050	1 / 1	675	18.6 mi	—	Apartment
606 7th St S Unit 2, Virginia	$880	1 / 1	—	18.6 mi	—	Apartment
604 7th St S Unit 2, Virginia	$850	1 / 1	—	18.6 mi	—	Apartment
406 S 4th Ave W Apt 204, Virginia	$940	1 / 1	368	18.9 mi	2026-09-17	Apartment
201 N 5th Ave, Virginia	$882	1 / 1	—	18.9 mi	2026-02-01	Apartment
900 Dorchester Dr, Hoyt Lakes	$725	1 / 1	665	37.0 mi	2024-04-15	Apartment
5886 N Pike Lake Rd, Duluth	$1,400	1 / 1	544	48.9 mi	2026-03-18	Apartment
4926 W Arrowhead Rd Unit 307, Hermantown	$1,599	1 / 1	655	54.5 mi	2026-07-03	Apartment
25 W Redwing St Apt 18, Duluth	$1,125	1 / 1	513	56.6 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 1105 16TH AVE E

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.	$1,788
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,150
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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

2026-08-14New at $165,000

From the listing Listing

Listed as	triplex
Property tax, 2026	$1,788
County	St. Louis
Parcel number	140005002020

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 Hibbing on rental licensing before you buy.