2 And 4 S 16th Ave E

Cash flows

13 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $399,900
Monthly cash flow: $335
Estimated rent: $4,800/mo
Break-even price: $462,888

Adjust the numbers See the full breakdown

From the listing

Investor opportunity! This fully rented fourplex offers immediate income and strong cash flow potential, meeting the sought-after 1% rule for rental investments. Includes coin operated laundry for additional income.The property is structurally and mechanically sound, providing a solid foundation for value-add improvements. While it could use some cosmetic updates the major components are in place, allowing investors to build equity and maximize rental income with renovations. Whether you're expanding your portfolio or looking for your next value-add investment, this is a great opportunity to acquire a cash-flowing asset with significant upside.

Listing courtesy of RE/MAX Results (Adam Paulson). Description from Realtor.com, MLS #6126831. 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: $399,900
Cash to close: $91,977
Price per unit: $99,975
GRM: 6.9

Each month

Cash flow: $335/mo
Cash-on-cash: 4.4%
Cap rate: 7.4%
DSCR: 1.16×

Break-even

Price that breaks even: $462,888
Rent that breaks even: $4,365/mo

Long run

Year 30: property vs stocks: $2.22M vs $700K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,800
Vacancy (6%)	−$288
Collected	$4,512
Property tax Listing	−$436
Insurance Estimate	−$396
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$384
Capital reserve (9% of rent)	−$432
Net operating income	$2,464
Mortgage (principal + interest)	−$2,128
Cash flow	$335
Principal paid down (equity, not cash)	$271

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	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$477,011 of profit by year 30, before investment growth	$956,638
What you'd walk away with	$1,869,061
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($3,146 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,693
What you'd walk away with	$417,431
Building minus stocks	$1,451,630

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$266,728 of profit by year 30, before investment growth	$461,952
What you'd walk away with	$1,374,375
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($24,696 total by yr 30) investedThe money you'd have put into the building while it lost money	$158,663
What you'd walk away with	$554,402
Building minus stocks	$819,973

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 of principal by year 30	$0
Plus rental profits, invested at 7%$497,044 of profit by year 30, before investment growth	$1,014,059
What you'd walk away with	$1,903,665
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($1,353 total by yr 30) investedThe money you'd have put into the building while it lost money	$9,500
What you'd walk away with	$395,342
Building minus stocks	$1,508,323

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 of principal by year 30	$0
Plus rental profits, invested at 7%$284,162 of profit by year 30, before investment growth	$504,710
What you'd walk away with	$1,394,316
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($20,304 total by yr 30) investedThe money you'd have put into the building while it lost money	$131,807
What you'd walk away with	$517,650
Building minus stocks	$876,666

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$580,442 of profit by year 30, before investment growth	$1,306,127
What you'd walk away with	$2,218,549
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
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	$700,152
Building minus stocks	$1,518,397

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$349,642 of profit by year 30, before investment growth	$681,735
What you'd walk away with	$1,594,158
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($1,033 total by yr 30) investedThe money you'd have put into the building while it lost money	$7,265
What you'd walk away with	$707,417
Building minus stocks	$886,741

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$599,603 of profit by year 30, before investment growth	$1,366,458
What you'd walk away with	$2,256,064
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
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	$682,644
Building minus stocks	$1,573,420

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$367,981 of profit by year 30, before investment growth	$736,304
What you'd walk away with	$1,625,911
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
Monthly shortfalls ($211 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,503
What you'd walk away with	$684,147
Building minus stocks	$941,764

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$628,332 of profit by year 30, before investment growth	$1,456,917
What you'd walk away with	$2,369,339
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
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	$852,359
Building minus stocks	$1,516,980

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$396,499 of profit by year 30, before investment growth	$825,260
What you'd walk away with	$1,737,683
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
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	$852,359
Building minus stocks	$885,324

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$646,295 of profit by year 30, before investment growth	$1,513,477
What you'd walk away with	$2,403,084
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
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	$831,045
Building minus stocks	$1,572,039

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$414,462 of profit by year 30, before investment growth	$881,821
What you'd walk away with	$1,771,427
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
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	$831,045
Building minus stocks	$940,382

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 $2.22M, stocks $700K. 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 $1,300/mo · range $1,100–$1,550 · 11 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1509 E Superior St, Duluth	$1,800	2 / 2	1,032	0.1 mi	2024-05-02	Apartment
207 S 17th Ave E Unit 2, Duluth	$1,400	2 / 1	—	0.1 mi	2026-09-28	Apartment
1711 E 1st St, Duluth	$1,295	2 / 1	768	0.1 mi	2026-07-17	Apartment
320 S 19th Ave E Apt B, Duluth	$1,075	2 / 1	—	0.3 mi	2026-09-21	Apartment
1807 E 3rd St Apt 2, Duluth	$1,095	2 / 1	650	0.3 mi	—	Apartment
1807 E 3rd St Apt 9, Duluth	$1,195	2 / 1	708	0.3 mi	—	Apartment
1631 E 4th St Apt 1, Duluth	$1,675	2 / 1	—	0.3 mi	—	Apartment
1301 E 3rd St, Duluth	$1,200	2 / 1	1,244	0.4 mi	2026-09-29	Apartment
1206 E 3rd St, Duluth	$1,000	2 / 1	609	0.4 mi	2026-05-29	Apartment
918 922 E 5th St, Duluth	$1,300	2 / 1	1,600	0.7 mi	2026-07-02	Apartment

1 bed estimate $1,100/mo · range $1,050–$1,225 · 9 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1509 E Superior St, Duluth	$1,245	1 / 1	602	0.1 mi	2024-05-02	Apartment
1431 E Superior St, Duluth	$1,050	1 / 1	900	0.1 mi	2026-09-29	Apartment
1501 E 1st St, Duluth	$1,050	1 / 1	400	0.1 mi	2026-03-12	Apartment
1321 E 1st St, Duluth	$1,335	1 / 1	528	0.2 mi	2025-04-30	Apartment
1807 E 3rd St Apt 18, Duluth	$1,095	1 / 1	513	0.3 mi	—	Apartment
1807 E 3rd St Apt 5, Duluth	$1,050	1 / 1	495	0.3 mi	—	Apartment
1910 E 4th St Apt B, Duluth	$1,095	1 / 1	—	0.4 mi	—	Apartment
926 932 E 4th St, Duluth	$1,150	1 / 1	675	0.6 mi	2026-07-28	Apartment
730 E 2nd St, Duluth	$1,200	1 / 1	600	0.7 mi	2024-04-23	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 2 AND 4 S 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.	$5,238
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,750
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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 1891: +1 pt capital reserve	8% / 9%

Status history

2026-07-17New at $399,900

From the listing Listing

Listed as	multi-family
Property tax, 2026	$5,238
County	St. Louis County
Parcel number	010-1460-04500

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 Duluth on rental licensing before you buy.