204 Main St E

Ogema, MN · View the listing ↗

Cash flows

31 photos

Photos courtesy of RE/MAX Lakes Region, via Realtor.com.

Asking price: $184,900
Monthly cash flow: $364
Estimated rent: $2,500/mo
Break-even price: $253,347

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: $184,900
Cash to close: $42,527
Price per unit: $92,450
GRM: 6.2

Each month

Cash flow: $364/mo
Cash-on-cash: 10.3%
Cap rate: 8.8%
DSCR: 1.37×

Break-even

Price that breaks even: $253,347
Rent that breaks even: $2,033/mo

Long run

Year 30: property vs stocks: $1.35M vs $324K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,500
Vacancy (6%)	−$150
Collected	$2,350
Property tax Listing	−$185
Insurance Estimate	−$186
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$200
Capital reserve (8% of rent)	−$200
Net operating income	$1,348
Mortgage (principal + interest)	−$984
Cash flow	$364
Principal paid down (equity, not cash)	$125

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	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $166,410 of principal by year 30	$0
Plus rental profits, invested at 7%$337,042 of profit by year 30, before investment growth	$754,915
What you'd walk away with	$1,176,788
If you put the same money in stocks
Cash to close ($24,037) invested at 7%	$182,976
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	$182,976
Building minus stocks	$993,812

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $166,410 of principal by year 30	$0
Plus rental profits, invested at 7%$217,838 of profit by year 30, before investment growth	$436,538
What you'd walk away with	$858,411
If you put the same money in stocks
Cash to close ($24,037) invested at 7%	$182,976
Monthly shortfalls ($1,542 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,611
What you'd walk away with	$193,587
Building minus stocks	$664,824

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $157,410 of principal by year 30	$0
Plus rental profits, invested at 7%$358,867 of profit by year 30, before investment growth	$824,528
What you'd walk away with	$1,223,584
If you put the same money in stocks
Cash to close ($22,737) invested at 7%	$173,080
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	$173,080
Building minus stocks	$1,050,504

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $157,410 of principal by year 30	$0
Plus rental profits, invested at 7%$238,226 of profit by year 30, before investment growth	$496,284
What you'd walk away with	$895,341
If you put the same money in stocks
Cash to close ($22,737) invested at 7%	$173,080
Monthly shortfalls ($105 total by yr 30) investedThe money you'd have put into the building while it lost money	$744
What you'd walk away with	$173,824
Building minus stocks	$721,517

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $147,920 of principal by year 30	$0
Plus rental profits, invested at 7%$386,319 of profit by year 30, before investment growth	$926,536
What you'd walk away with	$1,348,409
If you put the same money in stocks
Cash to close ($42,527) invested at 7%	$323,726
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	$323,726
Building minus stocks	$1,024,683

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $147,920 of principal by year 30	$0
Plus rental profits, invested at 7%$265,573 of profit by year 30, before investment growth	$597,548
What you'd walk away with	$1,019,421
If you put the same money in stocks
Cash to close ($42,527) invested at 7%	$323,726
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	$323,726
Building minus stocks	$695,695

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $139,920 of principal by year 30	$0
Plus rental profits, invested at 7%$405,480 of profit by year 30, before investment growth	$986,867
What you'd walk away with	$1,385,924
If you put the same money in stocks
Cash to close ($40,227) invested at 7%	$306,218
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	$306,218
Building minus stocks	$1,079,706

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $139,920 of principal by year 30	$0
Plus rental profits, invested at 7%$284,733 of profit by year 30, before investment growth	$657,880
What you'd walk away with	$1,056,936
If you put the same money in stocks
Cash to close ($40,227) invested at 7%	$306,218
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	$306,218
Building minus stocks	$750,718

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $138,675 of principal by year 30	$0
Plus rental profits, invested at 7%$408,462 of profit by year 30, before investment growth	$996,256
What you'd walk away with	$1,418,129
If you put the same money in stocks
Cash to close ($51,772) invested at 7%	$394,102
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	$394,102
Building minus stocks	$1,024,027

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$448,801
Minus 6% selling cost	−$26,928
Minus loan still owedTenants' rent paid down all $138,675 of principal by year 30	$0
Plus rental profits, invested at 7%$287,715 of profit by year 30, before investment growth	$667,269
What you'd walk away with	$1,089,141
If you put the same money in stocks
Cash to close ($51,772) invested at 7%	$394,102
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	$394,102
Building minus stocks	$695,039

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $131,175 of principal by year 30	$0
Plus rental profits, invested at 7%$426,425 of profit by year 30, before investment growth	$1,052,817
What you'd walk away with	$1,451,873
If you put the same money in stocks
Cash to close ($48,972) invested at 7%	$372,787
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	$372,787
Building minus stocks	$1,079,086

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,528
Minus 6% selling cost	−$25,472
Minus loan still owedTenants' rent paid down all $131,175 of principal by year 30	$0
Plus rental profits, invested at 7%$305,678 of profit by year 30, before investment growth	$723,829
What you'd walk away with	$1,122,886
If you put the same money in stocks
Cash to close ($48,972) invested at 7%	$372,787
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	$372,787
Building minus stocks	$750,099

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 $1.35M, stocks $324K. 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 $1,250/mo · range $1,025–$1,450 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
500 2nd St SW, Twin Valley	$995	2 / 1	—	19.1 mi	2026-07-24	Apartment
502 Riverwood Dr, Detroit Lakes	$1,115	2 / 1	1,041	19.3 mi	2026-10-01	Apartment
1210 Jackson Ave, Detroit Lakes	$845	2 / 1	—	20.6 mi	2026-06-24	Apartment
1327 Madison Ave, Detroit Lakes	$1,200	2 / 1	—	20.7 mi	2026-06-23	Apartment
219 6th St Unit 9, Hawley	$1,400	2 / 1	1,592	24.1 mi	2026-08-17	Apartment
701 Lily Ln Apt 303, Ada	$800	2 / 1	—	30.6 mi	2025-11-07	Apartment
404 5th Ave W Apt 3, Ada	$629	2 / 1	—	31.3 mi	2025-08-04	Apartment
301 7th Ave NW, Pelican Rapids	$1,250	2 / 1	950	37.1 mi	2025-01-07	Apartment
222 14th St NE, Dilworth	$1,195	2 / 1	868	39.1 mi	2025-06-21	Apartment
125 6th St SW, Barnesville	$880	2 / 1	—	39.2 mi	2026-09-30	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 204 MAIN ST E

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 102 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.	$2,224
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,235
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. base rate	8% / 8%

Status history

2026-06-25New at $184,900

From the listing Listing

Listed as	duplex side x side
Property tax, 2025	$2,224
County	Becker
Parcel number	520125000

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 Ogema on rental licensing before you buy.