224 S Park St

Fairmont, MN · View the listing ↗

Cash flows

14 photos

Photos, via Realtor.com.

Asking price: $139,900
Monthly cash flow: $435
Estimated rent: $2,350/mo
Break-even price: $221,630

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: $139,900
Cash to close: $32,177
Price per unit: $69,950
GRM: 5.0

Each month

Cash flow: $435/mo
Cash-on-cash: 16.2%
Cap rate: 10.1%
DSCR: 1.58×

Break-even

Price that breaks even: $221,630
Rent that breaks even: $1,785/mo

Long run

Year 30: property vs stocks: $1.25M vs $245K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,350
Vacancy (6%)	−$141
Collected	$2,209
Property tax Listing	−$189
Insurance Estimate	−$211
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$188
Capital reserve (9% of rent)	−$212
Net operating income	$1,180
Mortgage (principal + interest)	−$745
Cash flow	$435
Principal paid down (equity, not cash)	$95

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	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $125,910 of principal by year 30	$0
Plus rental profits, invested at 7%$337,509 of profit by year 30, before investment growth	$802,986
What you'd walk away with	$1,122,185
If you put the same money in stocks
Cash to close ($18,187) invested at 7%	$138,444
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	$138,444
Building minus stocks	$983,741

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $125,910 of principal by year 30	$0
Plus rental profits, invested at 7%$224,008 of profit by year 30, before investment growth	$493,737
What you'd walk away with	$812,937
If you put the same money in stocks
Cash to close ($18,187) invested at 7%	$138,444
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	$138,444
Building minus stocks	$674,493

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $116,910 of principal by year 30	$0
Plus rental profits, invested at 7%$359,335 of profit by year 30, before investment growth	$872,599
What you'd walk away with	$1,168,982
If you put the same money in stocks
Cash to close ($16,887) invested at 7%	$128,548
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	$128,548
Building minus stocks	$1,040,434

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $116,910 of principal by year 30	$0
Plus rental profits, invested at 7%$245,833 of profit by year 30, before investment growth	$563,350
What you'd walk away with	$859,733
If you put the same money in stocks
Cash to close ($16,887) invested at 7%	$128,548
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	$128,548
Building minus stocks	$731,185

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $111,920 of principal by year 30	$0
Plus rental profits, invested at 7%$374,794 of profit by year 30, before investment growth	$932,839
What you'd walk away with	$1,252,038
If you put the same money in stocks
Cash to close ($32,177) invested at 7%	$244,940
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	$244,940
Building minus stocks	$1,007,098

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $111,920 of principal by year 30	$0
Plus rental profits, invested at 7%$261,292 of profit by year 30, before investment growth	$623,590
What you'd walk away with	$942,790
If you put the same money in stocks
Cash to close ($32,177) invested at 7%	$244,940
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	$244,940
Building minus stocks	$697,850

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $103,920 of principal by year 30	$0
Plus rental profits, invested at 7%$393,955 of profit by year 30, before investment growth	$993,170
What you'd walk away with	$1,289,553
If you put the same money in stocks
Cash to close ($29,877) invested at 7%	$227,431
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	$227,431
Building minus stocks	$1,062,122

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $103,920 of principal by year 30	$0
Plus rental profits, invested at 7%$280,453 of profit by year 30, before investment growth	$683,921
What you'd walk away with	$980,305
If you put the same money in stocks
Cash to close ($29,877) invested at 7%	$227,431
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	$227,431
Building minus stocks	$752,874

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $104,925 of principal by year 30	$0
Plus rental profits, invested at 7%$391,548 of profit by year 30, before investment growth	$985,591
What you'd walk away with	$1,304,790
If you put the same money in stocks
Cash to close ($39,172) invested at 7%	$298,187
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	$298,187
Building minus stocks	$1,006,603

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$339,574
Minus 6% selling cost	−$20,374
Minus loan still owedTenants' rent paid down all $104,925 of principal by year 30	$0
Plus rental profits, invested at 7%$278,046 of profit by year 30, before investment growth	$676,342
What you'd walk away with	$995,542
If you put the same money in stocks
Cash to close ($39,172) invested at 7%	$298,187
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	$298,187
Building minus stocks	$697,355

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $97,425 of principal by year 30	$0
Plus rental profits, invested at 7%$409,511 of profit by year 30, before investment growth	$1,042,151
What you'd walk away with	$1,338,535
If you put the same money in stocks
Cash to close ($36,372) invested at 7%	$276,873
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	$276,873
Building minus stocks	$1,061,662

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$315,301
Minus 6% selling cost	−$18,918
Minus loan still owedTenants' rent paid down all $97,425 of principal by year 30	$0
Plus rental profits, invested at 7%$296,009 of profit by year 30, before investment growth	$732,903
What you'd walk away with	$1,029,286
If you put the same money in stocks
Cash to close ($36,372) invested at 7%	$276,873
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	$276,873
Building minus stocks	$752,413

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 $1.25M, stocks $245K. 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 $1,175/mo · range $950–$1,375 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1205 Victoria St Apt 213, Fairmont	$825	2 / 1	850	0.8 mi	2025-03-18	Apartment
110 E 1st St S Apt 2, Truman	$675	2 / 1	800	12.2 mi	—	Apartment
135 6th Ave S, Windom	$500	2 / 1	600	35.8 mi	2025-05-29	Apartment
504 James Ave, Mankato	$1,204	2 / 1	1,008	41.0 mi	2026-06-30	Apartment
875 Heron Dr, Mankato	$1,143	2 / 1	919	41.2 mi	2026-02-19	Apartment
340 Stadium Rd, Mankato	$1,400	2 / 1	1,025	41.5 mi	2026-03-07	Apartment
429 State St Apt 102, Mankato	$1,100	2 / 1	—	41.5 mi	2024-04-23	Apartment
202 Bunting Ln, Mankato	$1,200	2 / 2	827	41.6 mi	2024-06-14	Apartment
408 State St Apt 101, Mankato	$1,050	2 / 1	—	41.6 mi	2024-04-16	Apartment
224 Carroll St, Mankato	$1,024	2 / 1	963	41.6 mi	2026-05-22	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 224 PARK ST S

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.	$2,272
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,527
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 1915: +1 pt capital reserve	8% / 9%

Status history

2026-09-09New at $139,900

From the listing Listing

Listed as	multi-family
Property tax, 2026	$2,272
County	Martin County
Parcel number	232690340

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 Fairmont on rental licensing before you buy.