202 N Cass Ave

Springfield, MN · View the listing ↗

Cash flows

27 photos

Photos courtesy of KERKHOFF AUCTION and REAL - Broker, via Realtor.com.

Asking price: $252,000
Monthly cash flow: $1,329
Estimated rent: $4,800/mo
Break-even price: $501,698

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: $252,000
Cash to close: $57,960
Price per unit: $63,000
GRM: 4.4

Each month

Cash flow: $1,329/mo
Cash-on-cash: 27.5%
Cap rate: 12.7%
DSCR: 1.99×

Break-even

Price that breaks even: $501,698
Rent that breaks even: $3,074/mo

Long run

Year 30: property vs stocks: $3.11M vs $441K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,800
Vacancy (6%)	−$288
Collected	$4,512
Property tax Listing	−$224
Insurance Estimate	−$402
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$432
Capital reserve (8% of rent)	−$384
Net operating income	$2,670
Mortgage (principal + interest)	−$1,341
Cash flow	$1,329
Principal paid down (equity, not cash)	$171

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	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $226,800 of principal by year 30	$0
Plus rental profits, invested at 7%$924,631 of profit by year 30, before investment growth	$2,304,859
What you'd walk away with	$2,879,829
If you put the same money in stocks
Cash to close ($32,760) invested at 7%	$249,377
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	$249,377
Building minus stocks	$2,630,452

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $226,800 of principal by year 30	$0
Plus rental profits, invested at 7%$692,798 of profit by year 30, before investment growth	$1,673,203
What you'd walk away with	$2,248,173
If you put the same money in stocks
Cash to close ($32,760) invested at 7%	$249,377
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	$249,377
Building minus stocks	$1,998,796

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $217,800 of principal by year 30	$0
Plus rental profits, invested at 7%$946,457 of profit by year 30, before investment growth	$2,374,472
What you'd walk away with	$2,926,626
If you put the same money in stocks
Cash to close ($31,460) invested at 7%	$239,482
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	$239,482
Building minus stocks	$2,687,144

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $217,800 of principal by year 30	$0
Plus rental profits, invested at 7%$714,624 of profit by year 30, before investment growth	$1,742,816
What you'd walk away with	$2,294,969
If you put the same money in stocks
Cash to close ($31,460) invested at 7%	$239,482
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	$239,482
Building minus stocks	$2,055,487

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $201,600 of principal by year 30	$0
Plus rental profits, invested at 7%$991,791 of profit by year 30, before investment growth	$2,538,761
What you'd walk away with	$3,113,731
If you put the same money in stocks
Cash to close ($57,960) invested at 7%	$441,206
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	$441,206
Building minus stocks	$2,672,525

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $201,600 of principal by year 30	$0
Plus rental profits, invested at 7%$759,958 of profit by year 30, before investment growth	$1,907,105
What you'd walk away with	$2,482,075
If you put the same money in stocks
Cash to close ($57,960) invested at 7%	$441,206
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	$441,206
Building minus stocks	$2,040,869

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $193,600 of principal by year 30	$0
Plus rental profits, invested at 7%$1,010,952 of profit by year 30, before investment growth	$2,599,093
What you'd walk away with	$3,151,246
If you put the same money in stocks
Cash to close ($55,660) invested at 7%	$423,698
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	$423,698
Building minus stocks	$2,727,548

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $193,600 of principal by year 30	$0
Plus rental profits, invested at 7%$779,119 of profit by year 30, before investment growth	$1,967,436
What you'd walk away with	$2,519,590
If you put the same money in stocks
Cash to close ($55,660) invested at 7%	$423,698
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	$423,698
Building minus stocks	$2,095,892

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $189,000 of principal by year 30	$0
Plus rental profits, invested at 7%$1,021,969 of profit by year 30, before investment growth	$2,633,783
What you'd walk away with	$3,208,753
If you put the same money in stocks
Cash to close ($70,560) invested at 7%	$537,121
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	$537,121
Building minus stocks	$2,671,632

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$611,670
Minus 6% selling cost	−$36,700
Minus loan still owedTenants' rent paid down all $189,000 of principal by year 30	$0
Plus rental profits, invested at 7%$790,136 of profit by year 30, before investment growth	$2,002,127
What you'd walk away with	$2,577,097
If you put the same money in stocks
Cash to close ($70,560) invested at 7%	$537,121
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	$537,121
Building minus stocks	$2,039,976

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $181,500 of principal by year 30	$0
Plus rental profits, invested at 7%$1,039,933 of profit by year 30, before investment growth	$2,690,344
What you'd walk away with	$3,242,497
If you put the same money in stocks
Cash to close ($67,760) invested at 7%	$515,806
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	$515,806
Building minus stocks	$2,726,691

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$587,398
Minus 6% selling cost	−$35,244
Minus loan still owedTenants' rent paid down all $181,500 of principal by year 30	$0
Plus rental profits, invested at 7%$808,100 of profit by year 30, before investment growth	$2,058,687
What you'd walk away with	$2,610,841
If you put the same money in stocks
Cash to close ($67,760) invested at 7%	$515,806
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	$515,806
Building minus stocks	$2,095,035

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 $3.11M, stocks $441K. 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 $1,200/mo · range $975–$1,400 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1001 N Garden St, New Ulm	$1,340	2 / 2	1,008	25.5 mi	2026-05-15	Apartment
227 N Minnesota St, New Ulm	$1,229	2 / 1	750	25.9 mi	2025-01-18	Apartment
405 12th St S Apt 1, New Ulm	$1,300	2 / 1	1,000	26.5 mi	2025-11-06	Apartment
135 6th Ave S, Windom	$500	2 / 1	600	27.5 mi	2025-05-29	Apartment
610 6th St W Unit 11, Winthrop	$775	2 / 1	—	36.4 mi	2024-07-10	Apartment
110 E 1st St S Apt 2, Truman	$675	2 / 1	800	39.2 mi	—	Apartment
600 Bowman St Apt 3, Stewart	$775	2 / 1	—	41.1 mi	2025-06-30	Apartment
111 W Lind St, Mankato	$1,130	2 / 1	775	47.8 mi	2026-08-22	Apartment
429 State St Apt 102, Mankato	$1,100	2 / 1	—	47.9 mi	2024-04-23	Apartment
408 State St Apt 101, Mankato	$1,050	2 / 1	—	48.0 mi	2024-04-16	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 202 CASS AVE N

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.	$2,684
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,825
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. 8 bedrooms: +1 pt repairs for wear	9% / 8%

Status history

2026-07-28New at $252,000

From the listing Listing

Listed as	apartments
Property tax, 2025	$2,684
County	Brown
Parcel number	00331000905050

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 Springfield on rental licensing before you buy.