2059-2063 Second St

White Bear Lake, MN · View the listing ↗

Far off

1 photos

Photos courtesy of Rocket Realty, via Realtor.com.

Asking price: $675,000
Monthly cash flow: −$1,840
Estimated rent: $3,775/mo
Break-even price: $329,252

Adjust the numbers See the full breakdown

From the listing

Income Today, Growth Tomorrow: White Bear Lake Commercial Property Don't miss this fantastic opportunity to invest in a prime parcel of commercial property in White Bear Lake, Adjacent to City Hall on Second Street. This offering comprises two adjacent parcels with rent-producing single-family residences in excellent condition. The properties are currently fully leased at below market rates that allow for future increases. The area represents fast-growing, highly sought-after properties with GX-D (General Mix Downtown) zoning. The area has excellent potential for future value increases. If you are looking for an opportunity with an excellent chance of future increases while providing passive income today, this is it.

Listing courtesy of Rocket Realty (Steven D Gaffney). Description from Realtor.com, MLS #7108056. 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: $675,000
Cash to close: $155,250
Price per unit: $337,500
GRM: 14.9

Each month

Cash flow: −$1,840/mo
Cash-on-cash: −14.2%
Cap rate: 3.1%
DSCR: 0.49×

Break-even

Price that breaks even: $329,252
Rent that breaks even: $6,165/mo

Long run

Year 30: property vs stocks: $1.54M vs $2.64M
Cash flow turns positive: year 29

Monthly

Monthly breakdown

Rent	$3,775
Vacancy (6%)	−$226
Collected	$3,548
Property tax Listing	−$714
Insurance Estimate	−$211
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$302
Capital reserve (9% of rent)	−$340
Net operating income	$1,752
Mortgage (principal + interest)	−$3,593
Cash flow	−$1,840
Principal paid down (equity, not cash)	$457

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	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $607,500 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	$1,540,098
If you put the same money in stocks
Cash to close ($87,750) invested at 7%	$667,975
Monthly shortfalls ($528,841 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,079,301
What you'd walk away with	$2,747,277
Building minus stocks	−$1,207,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $607,500 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	$1,540,098
If you put the same money in stocks
Cash to close ($87,750) invested at 7%	$667,975
Monthly shortfalls ($711,168 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,576,073
What you'd walk away with	$3,244,048
Building minus stocks	−$1,703,950

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $598,500 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	$1,517,282
If you put the same money in stocks
Cash to close ($86,450) invested at 7%	$658,079
Monthly shortfalls ($507,015 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,009,688
What you'd walk away with	$2,667,768
Building minus stocks	−$1,150,486

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $598,500 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	$1,517,282
If you put the same money in stocks
Cash to close ($86,450) invested at 7%	$658,079
Monthly shortfalls ($689,342 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,506,460
What you'd walk away with	$3,164,539
Building minus stocks	−$1,647,257

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $540,000 of principal by year 30	$0
Plus rental profits, invested at 7%$1,922 of profit by year 30, before investment growth	$1,950
What you'd walk away with	$1,542,048
If you put the same money in stocks
Cash to close ($155,250) invested at 7%	$1,181,803
Monthly shortfalls ($350,869 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,454,727
What you'd walk away with	$2,636,529
Building minus stocks	−$1,094,481

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $540,000 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	$1,540,098
If you put the same money in stocks
Cash to close ($155,250) invested at 7%	$1,181,803
Monthly shortfalls ($531,274 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,949,548
What you'd walk away with	$3,131,351
Building minus stocks	−$1,591,253

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $532,000 of principal by year 30	$0
Plus rental profits, invested at 7%$3,199 of profit by year 30, before investment growth	$3,272
What you'd walk away with	$1,520,554
If you put the same money in stocks
Cash to close ($152,950) invested at 7%	$1,164,294
Monthly shortfalls ($332,986 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,395,718
What you'd walk away with	$2,560,012
Building minus stocks	−$1,039,458

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $532,000 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	$1,517,282
If you put the same money in stocks
Cash to close ($152,950) invested at 7%	$1,164,294
Monthly shortfalls ($512,114 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,889,217
What you'd walk away with	$3,053,512
Building minus stocks	−$1,536,230

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $506,250 of principal by year 30	$0
Plus rental profits, invested at 7%$10,233 of profit by year 30, before investment growth	$10,947
What you'd walk away with	$1,551,045
If you put the same money in stocks
Cash to close ($189,000) invested at 7%	$1,438,716
Monthly shortfalls ($278,346 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,209,201
What you'd walk away with	$2,647,918
Building minus stocks	−$1,096,873

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,638,402
Minus 6% selling cost	−$98,304
Minus loan still owedTenants' rent paid down all $506,250 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	$1,540,098
If you put the same money in stocks
Cash to close ($189,000) invested at 7%	$1,438,716
Monthly shortfalls ($450,440 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,695,026
What you'd walk away with	$3,133,742
Building minus stocks	−$1,593,644

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $498,750 of principal by year 30	$0
Plus rental profits, invested at 7%$13,107 of profit by year 30, before investment growth	$14,233
What you'd walk away with	$1,531,515
If you put the same money in stocks
Cash to close ($186,200) invested at 7%	$1,417,402
Monthly shortfalls ($263,257 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,155,927
What you'd walk away with	$2,573,329
Building minus stocks	−$1,041,814

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,614,130
Minus 6% selling cost	−$96,848
Minus loan still owedTenants' rent paid down all $498,750 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	$1,517,282
If you put the same money in stocks
Cash to close ($186,200) invested at 7%	$1,417,402
Monthly shortfalls ($432,477 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,638,466
What you'd walk away with	$3,055,868
Building minus stocks	−$1,538,586

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 $1.54M, stocks $2.64M. 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.

3 bed estimate $2,175/mo · range $1,825–$2,775 · 25 rentals within 8.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
4768 Golden Pond Ln, White Bear Lake	$1,750	3 / 1	1,080	1.6 mi	2025-06-10	Apartment
3600 Hoffman Rd, White Bear Lake	$2,995	3 / 2	1,388	2.4 mi	2025-04-03	Apartment
115 East Ave, Mahtomedi	$1,795	3 / 2	1,163	3.5 mi	2026-03-04	Apartment
1255 County Road D Cir E, Vadnais Heights	$1,730	3 / 2	1,205	3.7 mi	2026-02-19	Apartment
157 Grass Lake Pl, Shoreview	$2,795	3 / 3	1,533	5.2 mi	2026-07-06	Apartment
4631 Rosemary Way, Hugo	$2,750	3 / 2	1,348	5.6 mi	2025-12-23	Apartment
6181 Upper 35th St N, Oakdale	$1,775	3 / 1	1,250	6.0 mi	2026-02-05	Apartment
3998 Hayward Ave N, Oakdale	$2,800	3 / 2.5	1,782	6.1 mi	2024-04-12	Apartment
1160 Frost Ave, Maplewood	$3,010	3 / 2	1,490	6.2 mi	2025-04-30	Apartment
7700 36th St N, Oakdale	$2,804	3 / 2	1,299	6.5 mi	2026-05-01	Apartment

2 bed estimate $1,600/mo · range $1,400–$2,025 · 7 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
4495 Lake Ave S, White Bear Lake	$2,795	2 / 2	1,049	0.5 mi	2026-01-02	Apartment
1720 4th St, White Bear Lake	$1,311	2 / 1	830	0.7 mi	2025-04-30	Apartment
1640 9th St, White Bear Lake	$1,395	2 / 1	800	0.9 mi	2026-08-21	Apartment
1501 Park St, White Bear Lake	$1,850	2 / 2	1,014	1.2 mi	2025-04-09	Apartment
1480 Park St, White Bear Lake	$1,600	2 / 2	1,095	1.3 mi	2025-03-18	Apartment
4890 Birch Lake Cir, White Bear Lake	$2,025	2 / 1.5	1,179	1.4 mi	2024-06-11	Apartment
4008 White Bear Ave Unit 1, White Bear Lake	$1,500	2 / 1	900	1.5 mi	2026-09-28	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 2059-2063 SECOND ST
mediumAsking is $345,748 above the price where cash flow breaks even ($329,252) at the default scenario. Based on: Derived: price $675,000 vs. break-even $329,252

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.	$8,562
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,530
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 1899: +1 pt capital reserve	8% / 9%

Status history

2026-07-11New at $675,000

From the listing Listing

Listed as	other
Property tax, 2026	$8,562
County	Ramsey
Parcel number	143022420067

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 White Bear Lake on rental licensing before you buy.