345 2nd Ave SW

37 photos

Photos courtesy of RE/MAX ADVANTAGE PLUS, via Realtor.com.

Asking price: $320,000
Monthly cash flow: −$307
Estimated rent: $2,700/mo
Break-even price: $262,396

Adjust the numbers See the full breakdown

From the listing

Welcome to this income-producing duplex in Milaca, MN- offering a great opportunity for both investors and owner-occupants. This up/down duplex features a 3-bedroom main-level unit and a 2-bedroom upper unit. With the upper lease in place through 2026 and the lower unit lease in place through mid June 2027, providing immediate and stable income. Recent updates in both units include painted cabinets, updated fixtures, and new lighting. Main level unit has access to laundry with a new washer/dryer. See supplements for more updates/details. Roof replaced in 2022. The property also features separately metered utilities and a detached 3-stall garage with a separate electric meter (2024), offering added income potential or flexibility for owner use. Tenants pay for gas, electricity, lawn care, and snow removal, which helps keep operating expenses low. This is a great fit for those seeking a reliable investment, a house-hack opportunity, or a multi-family property.

Listing courtesy of RE/MAX ADVANTAGE PLUS (Samantha Severson). Description from Realtor.com, MLS #7118423. 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: $320,000
Cash to close: $73,600
Price per unit: $160,000
GRM: 9.9

Each month

Cash flow: −$307/mo
Cash-on-cash: −5.0%
Cap rate: 5.2%
DSCR: 0.82×

Break-even

Price that breaks even: $262,396
Rent that breaks even: $3,093/mo

Long run

Year 30: property vs stocks: $1.00M vs $658K
Cash flow turns positive: year 9

Monthly

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Listing	−$286
Insurance Estimate	−$193
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (8% of rent)	−$216
Net operating income	$1,397
Mortgage (principal + interest)	−$1,703
Cash flow	−$307
Principal paid down (equity, not cash)	$217

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	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $288,000 of principal by year 30	$0
Plus rental profits, invested at 7%$114,636 of profit by year 30, before investment growth	$169,798
What you'd walk away with	$899,919
If you put the same money in stocks
Cash to close ($41,600) invested at 7%	$316,670
Monthly shortfalls ($50,200 total by yr 30) investedThe money you'd have put into the building while it lost money	$290,363
What you'd walk away with	$607,032
Building minus stocks	$292,887

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $288,000 of principal by year 30	$0
Plus rental profits, invested at 7%$38,006 of profit by year 30, before investment growth	$47,296
What you'd walk away with	$777,417
If you put the same money in stocks
Cash to close ($41,600) invested at 7%	$316,670
Monthly shortfalls ($103,976 total by yr 30) investedThe money you'd have put into the building while it lost money	$523,167
What you'd walk away with	$839,837
Building minus stocks	−$62,420

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $279,000 of principal by year 30	$0
Plus rental profits, invested at 7%$127,849 of profit by year 30, before investment growth	$195,171
What you'd walk away with	$902,476
If you put the same money in stocks
Cash to close ($40,300) invested at 7%	$306,774
Monthly shortfalls ($41,587 total by yr 30) investedThe money you'd have put into the building while it lost money	$246,123
What you'd walk away with	$552,897
Building minus stocks	$349,579

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $279,000 of principal by year 30	$0
Plus rental profits, invested at 7%$46,180 of profit by year 30, before investment growth	$59,206
What you'd walk away with	$766,510
If you put the same money in stocks
Cash to close ($40,300) invested at 7%	$306,774
Monthly shortfalls ($90,324 total by yr 30) investedThe money you'd have put into the building while it lost money	$465,464
What you'd walk away with	$772,238
Building minus stocks	−$5,728

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $256,000 of principal by year 30	$0
Plus rental profits, invested at 7%$165,554 of profit by year 30, before investment growth	$274,422
What you'd walk away with	$1,004,542
If you put the same money in stocks
Cash to close ($73,600) invested at 7%	$560,262
Monthly shortfalls ($15,835 total by yr 30) investedThe money you'd have put into the building while it lost money	$97,967
What you'd walk away with	$658,229
Building minus stocks	$346,313

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $256,000 of principal by year 30	$0
Plus rental profits, invested at 7%$71,097 of profit by year 30, before investment growth	$98,827
What you'd walk away with	$828,947
If you put the same money in stocks
Cash to close ($73,600) invested at 7%	$560,262
Monthly shortfalls ($51,784 total by yr 30) investedThe money you'd have put into the building while it lost money	$277,679
What you'd walk away with	$837,941
Building minus stocks	−$8,994

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $248,000 of principal by year 30	$0
Plus rental profits, invested at 7%$180,056 of profit by year 30, before investment growth	$307,720
What you'd walk away with	$1,015,024
If you put the same money in stocks
Cash to close ($71,300) invested at 7%	$542,754
Monthly shortfalls ($11,176 total by yr 30) investedThe money you'd have put into the building while it lost money	$70,934
What you'd walk away with	$613,688
Building minus stocks	$401,336

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $248,000 of principal by year 30	$0
Plus rental profits, invested at 7%$81,178 of profit by year 30, before investment growth	$116,258
What you'd walk away with	$823,562
If you put the same money in stocks
Cash to close ($71,300) invested at 7%	$542,754
Monthly shortfalls ($42,705 total by yr 30) investedThe money you'd have put into the building while it lost money	$234,779
What you'd walk away with	$777,533
Building minus stocks	$46,029

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $240,000 of principal by year 30	$0
Plus rental profits, invested at 7%$195,322 of profit by year 30, before investment growth	$344,590
What you'd walk away with	$1,074,710
If you put the same money in stocks
Cash to close ($89,600) invested at 7%	$682,058
Monthly shortfalls ($7,282 total by yr 30) investedThe money you'd have put into the building while it lost money	$47,473
What you'd walk away with	$729,531
Building minus stocks	$345,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,724
Minus 6% selling cost	−$46,603
Minus loan still owedTenants' rent paid down all $240,000 of principal by year 30	$0
Plus rental profits, invested at 7%$92,110 of profit by year 30, before investment growth	$136,193
What you'd walk away with	$866,313
If you put the same money in stocks
Cash to close ($89,600) invested at 7%	$682,058
Monthly shortfalls ($34,475 total by yr 30) investedThe money you'd have put into the building while it lost money	$194,383
What you'd walk away with	$876,441
Building minus stocks	−$10,128

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $232,500 of principal by year 30	$0
Plus rental profits, invested at 7%$210,405 of profit by year 30, before investment growth	$383,075
What you'd walk away with	$1,090,379
If you put the same money in stocks
Cash to close ($86,800) invested at 7%	$660,744
Monthly shortfalls ($4,401 total by yr 30) investedThe money you'd have put into the building while it lost money	$29,398
What you'd walk away with	$690,141
Building minus stocks	$400,238

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,451
Minus 6% selling cost	−$45,147
Minus loan still owedTenants' rent paid down all $232,500 of principal by year 30	$0
Plus rental profits, invested at 7%$103,085 of profit by year 30, before investment growth	$157,218
What you'd walk away with	$864,522
If you put the same money in stocks
Cash to close ($86,800) invested at 7%	$660,744
Monthly shortfalls ($27,487 total by yr 30) investedThe money you'd have put into the building while it lost money	$158,847
What you'd walk away with	$819,591
Building minus stocks	$44,931

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 $1.00M, stocks $658K. 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.

3 bed estimate $1,500/mo · range $1,300–$1,725 · 141 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1277 15th St NE, Sauk Rapids	$1,235	3 / 2	1,266	26.1 mi	2024-04-26	Apartment
1220 E St Germain St Apt 209, Saint Cloud	$1,395	3 / 2	—	26.5 mi	—	Apartment
417 15th Ave SE, Saint Cloud	$1,295	3 / 1	1,000	26.6 mi	2026-02-02	Apartment
503 15th Ave SE Apt 214, Saint Cloud	$1,100	3 / 1	988	26.6 mi	—	Apartment
1812 16th St SE, Saint Cloud	$1,275	3 / 1	1,100	26.9 mi	2025-05-02	Apartment
1700 University Dr SE, Saint Cloud	$1,300	3 / 1	980	27.0 mi	2026-08-21	Apartment
1060 7th St SE, Saint Cloud	$1,075	3 / 1	1,176	27.0 mi	2024-04-15	Apartment
1615 15th Ave SE, Saint Cloud	$2,317	3 / 2.5	1,675	27.2 mi	2026-03-25	Apartment
28 3rd Ave NE, Saint Cloud	$1,300	3 / 1	1,000	27.4 mi	2025-09-26	Apartment
201 5th Ave E, Sartell	$1,140	3 / 1	944	27.7 mi	2026-03-10	Apartment

2 bed estimate $1,200/mo · range $975–$1,400 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
146 150 Main St, Foreston	$875	2 / 1	800	3.0 mi	2026-08-22	Apartment
103 19th Ave N, Princeton	$1,600	2 / 2	1,130	12.8 mi	2025-04-11	Apartment
107 19th Ave S, Princeton	$1,950	2 / 1.5	1,022	12.9 mi	2025-03-15	Apartment
750 Penn St, Foley	$1,095	2 / 2	—	13.5 mi	2026-10-02	Apartment
26125 Main St, Zimmerman	$1,703	2 / 1	998	21.5 mi	2025-08-25	Apartment
1277 15th St NE, Sauk Rapids	$990	2 / 1	980	26.1 mi	2024-04-26	Apartment
13896 Birdie Ln SE, Becker	$2,100	2 / 2	1,188	26.3 mi	2025-01-03	Apartment
1570 E Saint Germain St, Saint Cloud	$1,005	2 / 1	925	26.4 mi	2025-07-01	Apartment
1540 State Highway 23, Saint Cloud	$1,255	2 / 1.5	1,097	26.4 mi	2025-11-17	Apartment
1244 E Saint Germain St, Saint Cloud	$810	2 / 1	875	26.4 mi	2026-01-01	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 345 2ND AVE SW

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.	$3,434
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,319
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

2026-07-29Price cut at $320,000 (was $340,000) · from listing history
2026-07-29New at $320,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,434
County	Mille Lacs
Parcel number	210460070

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 Milaca on rental licensing before you buy.