421 E Sanborn St

29 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $265,000
Monthly cash flow: −$188
Estimated rent: $2,500/mo
Break-even price: $229,726

Adjust the numbers See the full breakdown

From the listing

Turn-key and truly hard to match in Winona, this duplex delivers the kind of condition and rental history investors dream about. The main unit offers 3 bedrooms and 2 bathrooms across the first floor and finished basement, giving tenants plenty of space and a comfortable layout. The upper unit features 1 bedroom and 1 bathroom, perfect for steady, reliable rental income. The exterior has been updated with vinyl siding just two years ago, providing great curb appeal and low-maintenance durability. Outside, you'll find a partially fenced backyard that's surprisingly spacious-ideal for tenants who value outdoor living. A detached 1-car garage adds even more value, whether used for storage or rented out for additional income. With its strong rental history, modern exterior, and appealing outdoor space, it will be tough to find another duplex in Winona this clean, this cared-for, and this ready to go from day one. Seller is a real estate agent licensed MN & WI. 24-hour notice needed to tour

Listing courtesy of Edina Realty, Inc. (Gile Gibbons). Description from Realtor.com, MLS #7153676. 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: $265,000
Cash to close: $60,950
Price per unit: $132,500
GRM: 8.8

Each month

Cash flow: −$188/mo
Cash-on-cash: −3.7%
Cap rate: 5.5%
DSCR: 0.87×

Break-even

Price that breaks even: $229,726
Rent that breaks even: $2,744/mo

Long run

Year 30: property vs stocks: $890K vs $511K
Cash flow turns positive: year 7

Monthly

Monthly breakdown

Rent	$2,500
Vacancy (6%)	−$150
Collected	$2,350
Property tax Listing	−$259
Insurance Estimate	−$213
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$200
Capital reserve (9% of rent)	−$225
Net operating income	$1,223
Mortgage (principal + interest)	−$1,410
Cash flow	−$188
Principal paid down (equity, not cash)	$179

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	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$117,169 of profit by year 30, before investment growth	$182,450
What you'd walk away with	$787,081
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($31,617 total by yr 30) investedThe money you'd have put into the building while it lost money	$189,966
What you'd walk away with	$452,208
Building minus stocks	$334,873

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$39,724 of profit by year 30, before investment growth	$51,149
What you'd walk away with	$655,780
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($74,919 total by yr 30) investedThe money you'd have put into the building while it lost money	$387,652
What you'd walk away with	$649,894
Building minus stocks	$5,886

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $229,500 of principal by year 30	$0
Plus rental profits, invested at 7%$131,871 of profit by year 30, before investment growth	$213,191
What you'd walk away with	$795,005
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
Monthly shortfalls ($24,493 total by yr 30) investedThe money you'd have put into the building while it lost money	$151,093
What you'd walk away with	$403,440
Building minus stocks	$391,565

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $229,500 of principal by year 30	$0
Plus rental profits, invested at 7%$48,945 of profit by year 30, before investment growth	$65,360
What you'd walk away with	$647,175
If you put the same money in stocks
Cash to close ($33,150) invested at 7%	$252,346
Monthly shortfalls ($62,314 total by yr 30) investedThe money you'd have put into the building while it lost money	$332,250
What you'd walk away with	$584,597
Building minus stocks	$62,578

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$163,510 of profit by year 30, before investment growth	$285,795
What you'd walk away with	$890,426
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
Monthly shortfalls ($7,334 total by yr 30) investedThe money you'd have put into the building while it lost money	$47,342
What you'd walk away with	$511,309
Building minus stocks	$379,117

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$70,121 of profit by year 30, before investment growth	$101,162
What you'd walk away with	$705,793
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
Monthly shortfalls ($34,690 total by yr 30) investedThe money you'd have put into the building while it lost money	$191,697
What you'd walk away with	$655,664
Building minus stocks	$50,129

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $204,000 of principal by year 30	$0
Plus rental profits, invested at 7%$179,364 of profit by year 30, before investment growth	$325,629
What you'd walk away with	$907,444
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
Monthly shortfalls ($4,027 total by yr 30) investedThe money you'd have put into the building while it lost money	$26,845
What you'd walk away with	$473,304
Building minus stocks	$434,140

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $204,000 of principal by year 30	$0
Plus rental profits, invested at 7%$81,274 of profit by year 30, before investment growth	$121,792
What you'd walk away with	$703,606
If you put the same money in stocks
Cash to close ($58,650) invested at 7%	$446,459
Monthly shortfalls ($26,683 total by yr 30) investedThe money you'd have put into the building while it lost money	$151,995
What you'd walk away with	$598,454
Building minus stocks	$105,152

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$190,292 of profit by year 30, before investment growth	$354,593
What you'd walk away with	$959,224
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
Monthly shortfalls ($2,381 total by yr 30) investedThe money you'd have put into the building while it lost money	$16,216
What you'd walk away with	$581,045
Building minus stocks	$378,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$89,109 of profit by year 30, before investment growth	$137,026
What you'd walk away with	$741,657
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
Monthly shortfalls ($21,944 total by yr 30) investedThe money you'd have put into the building while it lost money	$127,637
What you'd walk away with	$692,466
Building minus stocks	$49,191

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $191,250 of principal by year 30	$0
Plus rental profits, invested at 7%$206,669 of profit by year 30, before investment growth	$400,498
What you'd walk away with	$982,312
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
Monthly shortfalls ($795 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,561
What you'd walk away with	$549,076
Building minus stocks	$433,236

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$618,952
Minus 6% selling cost	−$37,137
Minus loan still owedTenants' rent paid down all $191,250 of principal by year 30	$0
Plus rental profits, invested at 7%$101,037 of profit by year 30, before investment growth	$161,419
What you'd walk away with	$743,233
If you put the same money in stocks
Cash to close ($71,400) invested at 7%	$543,515
Monthly shortfalls ($15,908 total by yr 30) investedThe money you'd have put into the building while it lost money	$95,469
What you'd walk away with	$638,984
Building minus stocks	$104,249

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 $890K, stocks $511K. 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
1555 Homer Rd, Winona	$1,300	3 / 1	1,130	1.9 mi	2025-04-04	Apartment
577 W Main St Unit 15, Hammond	$995	3 / 1	750	39.2 mi	—	Apartment
1155 Felty Ave SE, Rochester	$2,037	3 / 2	1,411	39.4 mi	2025-01-31	Apartment
2111 Wheelock Dr NE, Rochester	$1,700	3 / 2	1,245	39.8 mi	2025-04-09	Apartment
2251 26th St NE, Rochester	$1,715	3 / 2	1,185	39.8 mi	2025-04-10	Apartment
875 21st Ave SE, Rochester	$1,540	3 / 1	1,000	40.0 mi	2025-03-07	Apartment
2016 8 1/2 St SE, Rochester	$1,250	3 / 2	1,100	40.1 mi	2026-02-18	Apartment
110 6th Ave SE, Rochester	$2,000	3 / 1	1,440	41.0 mi	—	Apartment
412 14th St SE, Rochester	$1,070	3 / 1	941	41.2 mi	2025-04-19	Apartment
510 3rd Ave SE, Rochester	$1,674	3 / 2	1,120	41.2 mi	2026-09-24	Apartment

1 bed estimate $1,000/mo · range $850–$1,300 · 357 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
920 W 5th St, Winona	$895	1 / 1	—	1.8 mi	2026-10-01	Apartment
52 Links Ln, Winona	$770	1 / 1	630	2.0 mi	2026-05-27	Apartment
1515 W 5th St, Winona	$1,049	1 / 1	700	2.5 mi	2025-04-04	Apartment
100 Clover Ct, Saint Charles	$834	1 / 1	529	22.0 mi	2026-05-15	Apartment
1097 Oakview Dr Apt 10, Saint Charles	$850	1 / 1	650	22.6 mi	—	Apartment
1155 Felty Ave SE, Rochester	$1,468	1 / 1	665	39.4 mi	2025-01-31	Apartment
1532 10th St SE, Rochester	$845	1 / 1	650	40.5 mi	2026-01-16	Apartment
123 11th Ave SE Apt 5, Rochester	$885	1 / 1	800	40.8 mi	—	Apartment
725 7th Ave SE Apt 2, Rochester	$825	1 / 1	838	41.0 mi	—	Apartment
519 E Center St, Rochester	$1,250	1 / 1	667	41.1 mi	2026-08-12	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 421 SANBORN ST E

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.	$3,106
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,562
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 1900: +1 pt capital reserve	8% / 9%

Status history

2026-10-02New at $265,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,106
County	Winona
Parcel number	321100200

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 Winona on rental licensing before you buy.