230 11th St N

Cash flows

31 photos

Photos courtesy of eXp Realty, via Realtor.com.

Asking price: $260,000
Monthly cash flow: $1,163
Estimated rent: $4,500/mo
Break-even price: $478,526

Adjust the numbers See the full breakdown

From the listing

Excellent investment opportunity in Breckenridge! This multi-unit property offers established rental income along with additional value-add potential. The main unit features 4 bedrooms, 2 bathrooms and two living areas, while an additional 1-bedroom, 1-bath unit provides another source of rental income. Both occupied units have seen extensive updates, including new flooring, fresh paint, plumbing improvements, updated bathrooms, heating improvements and more. The unfinished lower-level unit offers even more potential with a planned 2-bedroom, 1-bath layout. Much of the preliminary work has already been completed, including new framing and sheetrock, insulation, electrical work, plumbing access, a large egress window, new tub and a built-in electric fireplace. Once completed, this space could provide an additional rental unit and increased income potential. Numerous improvements have also been made throughout the property, including replacement of approximately 90% of the home's copper water lines, updated windows, exterior painting, refreshed decks and railings, and landscaping cleanup. The roof and fascia were updated approximately 10 years ago. With existing tenants, significant improvements already completed and an opportunity to increase rental income by finishing the lower level, this property offers an appealing combination of current cash flow and future upside. A great opportunity for an investor looking to expand their portfolio in Breckenridge!

Listing courtesy of eXp Realty (Derek Brandenburg). Description from Realtor.com, MLS #7148781. 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: $260,000
Cash to close: $59,800
Price per unit: $65,000
GRM: 4.8

Each month

Cash flow: $1,163/mo
Cash-on-cash: 23.3%
Cap rate: 11.8%
DSCR: 1.84×

Break-even

Price that breaks even: $478,526
Rent that breaks even: $3,009/mo

Long run

Year 30: property vs stocks: $2.90M vs $455K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,500
Vacancy (6%)	−$270
Collected	$4,230
Property tax Listing	−$207
Insurance Estimate	−$356
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$360
Capital reserve (8% of rent)	−$360
Net operating income	$2,547
Mortgage (principal + interest)	−$1,384
Cash flow	$1,163
Principal paid down (equity, not cash)	$176

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	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $234,000 of principal by year 30	$0
Plus rental profits, invested at 7%$839,802 of profit by year 30, before investment growth	$2,063,095
What you'd walk away with	$2,656,318
If you put the same money in stocks
Cash to close ($33,800) invested at 7%	$257,294
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	$257,294
Building minus stocks	$2,399,024

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $234,000 of principal by year 30	$0
Plus rental profits, invested at 7%$622,459 of profit by year 30, before investment growth	$1,470,917
What you'd walk away with	$2,064,140
If you put the same money in stocks
Cash to close ($33,800) invested at 7%	$257,294
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	$257,294
Building minus stocks	$1,806,846

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $225,000 of principal by year 30	$0
Plus rental profits, invested at 7%$861,628 of profit by year 30, before investment growth	$2,132,708
What you'd walk away with	$2,703,115
If you put the same money in stocks
Cash to close ($32,500) invested at 7%	$247,398
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	$247,398
Building minus stocks	$2,455,717

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $225,000 of principal by year 30	$0
Plus rental profits, invested at 7%$644,285 of profit by year 30, before investment growth	$1,540,530
What you'd walk away with	$2,110,937
If you put the same money in stocks
Cash to close ($32,500) invested at 7%	$247,398
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	$247,398
Building minus stocks	$1,863,539

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $208,000 of principal by year 30	$0
Plus rental profits, invested at 7%$909,095 of profit by year 30, before investment growth	$2,304,423
What you'd walk away with	$2,897,646
If you put the same money in stocks
Cash to close ($59,800) invested at 7%	$455,213
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	$455,213
Building minus stocks	$2,442,433

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $208,000 of principal by year 30	$0
Plus rental profits, invested at 7%$691,751 of profit by year 30, before investment growth	$1,712,245
What you'd walk away with	$2,305,468
If you put the same money in stocks
Cash to close ($59,800) invested at 7%	$455,213
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	$455,213
Building minus stocks	$1,850,255

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $200,000 of principal by year 30	$0
Plus rental profits, invested at 7%$928,255 of profit by year 30, before investment growth	$2,364,754
What you'd walk away with	$2,935,161
If you put the same money in stocks
Cash to close ($57,500) invested at 7%	$437,705
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	$437,705
Building minus stocks	$2,497,456

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $200,000 of principal by year 30	$0
Plus rental profits, invested at 7%$710,912 of profit by year 30, before investment growth	$1,772,576
What you'd walk away with	$2,342,983
If you put the same money in stocks
Cash to close ($57,500) invested at 7%	$437,705
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	$437,705
Building minus stocks	$1,905,278

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $195,000 of principal by year 30	$0
Plus rental profits, invested at 7%$940,231 of profit by year 30, before investment growth	$2,402,461
What you'd walk away with	$2,995,684
If you put the same money in stocks
Cash to close ($72,800) invested at 7%	$554,172
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	$554,172
Building minus stocks	$2,441,512

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$631,088
Minus 6% selling cost	−$37,865
Minus loan still owedTenants' rent paid down all $195,000 of principal by year 30	$0
Plus rental profits, invested at 7%$722,887 of profit by year 30, before investment growth	$1,810,283
What you'd walk away with	$2,403,506
If you put the same money in stocks
Cash to close ($72,800) invested at 7%	$554,172
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	$554,172
Building minus stocks	$1,849,334

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $187,500 of principal by year 30	$0
Plus rental profits, invested at 7%$958,194 of profit by year 30, before investment growth	$2,459,021
What you'd walk away with	$3,029,428
If you put the same money in stocks
Cash to close ($70,000) invested at 7%	$532,858
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	$532,858
Building minus stocks	$2,496,570

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$606,816
Minus 6% selling cost	−$36,409
Minus loan still owedTenants' rent paid down all $187,500 of principal by year 30	$0
Plus rental profits, invested at 7%$740,851 of profit by year 30, before investment growth	$1,866,843
What you'd walk away with	$2,437,250
If you put the same money in stocks
Cash to close ($70,000) invested at 7%	$532,858
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	$532,858
Building minus stocks	$1,904,392

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 $2.90M, stocks $455K. 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
1515 College Way, Fergus Falls	$1,000	2 / 1	772	22.9 mi	2025-10-10	Apartment
816 W Laurel St, Fergus Falls	$900	2 / 1	895	23.4 mi	2025-04-02	Apartment
623 W Fir Ave, Fergus Falls	$1,115	2 / 1	1,080	23.7 mi	2025-01-03	Apartment
1234 N Broadway, Fergus Falls	$980	2 / 1	850	23.7 mi	—	Apartment
125 6th St SW, Barnesville	$880	2 / 1	—	27.7 mi	2026-09-30	Apartment
301 7th Ave NW, Pelican Rapids	$1,250	2 / 1	950	31.8 mi	2025-01-07	Apartment
801 44th Ave S, Moorhead	$1,520	2 / 2	1,161	39.9 mi	2025-03-06	Apartment
1730 40th Ave S, Moorhead	$1,070	2 / 2	1,050	40.1 mi	2025-05-01	Apartment
3880 16th St S, Moorhead	$1,245	2 / 2	1,037	40.1 mi	2025-03-07	Apartment
3433 28th St S, Moorhead	$2,095	2 / 1	1,200	40.2 mi	2026-05-27	Apartment

1 bed estimate $975/mo · range $825–$1,250 · 357 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
418 S 8th St, Breckenridge	$1,050	1 / 1	600	0.5 mi	2025-01-07	Apartment
217 5th St S Apt 2, Breckenridge	$550	1 / 1	600	0.5 mi	—	Apartment
1515 College Way, Fergus Falls	$850	1 / 1	558	22.9 mi	2025-10-10	Apartment
623 W Fir Ave, Fergus Falls	$915	1 / 1	765	23.7 mi	2025-01-03	Apartment
1201 N Broadway Apt 1, Fergus Falls	$850	1 / 1	1	23.7 mi	2026-09-22	Apartment
124 E Summit Ave, Fergus Falls	$955	1 / 1	550	24.2 mi	2026-05-14	Apartment
221 E Cavour Ave, Fergus Falls	$820	1 / 1	540	24.3 mi	2026-05-28	Apartment
511 Northern Ave Apt 4, Fergus Falls	$710	1 / 1	650	24.4 mi	2026-09-09	Apartment
808 S Sheridan St, Fergus Falls	$1,425	1 / 1	660	24.4 mi	2025-05-06	Apartment
1145 Friberg Ave, Fergus Falls	$771	1 / 1	550	24.9 mi	2026-05-08	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 230 11TH ST 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 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.	$2,482
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,275
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. base rate	8% / 8%

Status history

2026-09-23Price cut at $260,000 (was $269,900) · from listing history
2026-09-23New at $260,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$2,482
County	Wilkin
Parcel number	230504860

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 Breckenridge on rental licensing before you buy.