422 Conley Ave S

Thief River Falls, MN · View the listing ↗

Cash flows

1 photos

Photos courtesy of USA Realty - Broker, via Realtor.com.

Asking price: $25,000
Monthly cash flow: $891
Estimated rent: $1,950/mo
Break-even price: $192,472

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: $25,000
Cash to close: $5,750
Price per unit: $12,500
GRM: 1.1

Each month

Cash flow: $891/mo
Cash-on-cash: 186.0%
Cap rate: 49.2%
DSCR: 7.70×

Break-even

Price that breaks even: $192,472
Rent that breaks even: $792/mo

Long run

Year 30: property vs stocks: $1.46M vs $44K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$1,950
Vacancy (6%)	−$117
Collected	$1,833
Property tax Listing	−$63
Insurance Estimate	−$184
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$156
Capital reserve (9% of rent)	−$176
Net operating income	$1,024
Mortgage (principal + interest)	−$133
Cash flow	$891
Principal paid down (equity, not cash)	$17

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	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $22,500 of principal by year 30	$0
Plus rental profits, invested at 7%$507,110 of profit by year 30, before investment growth	$1,375,511
What you'd walk away with	$1,432,552
If you put the same money in stocks
Cash to close ($3,250) invested at 7%	$24,740
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	$24,740
Building minus stocks	$1,407,812

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $22,500 of principal by year 30	$0
Plus rental profits, invested at 7%$412,927 of profit by year 30, before investment growth	$1,118,901
What you'd walk away with	$1,175,941
If you put the same money in stocks
Cash to close ($3,250) invested at 7%	$24,740
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	$24,740
Building minus stocks	$1,151,201

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $13,500 of principal by year 30	$0
Plus rental profits, invested at 7%$528,935 of profit by year 30, before investment growth	$1,445,124
What you'd walk away with	$1,479,349
If you put the same money in stocks
Cash to close ($1,950) invested at 7%	$14,844
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	$14,844
Building minus stocks	$1,464,505

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $13,500 of principal by year 30	$0
Plus rental profits, invested at 7%$434,753 of profit by year 30, before investment growth	$1,188,514
What you'd walk away with	$1,222,738
If you put the same money in stocks
Cash to close ($1,950) invested at 7%	$14,844
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	$14,844
Building minus stocks	$1,207,894

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $20,000 of principal by year 30	$0
Plus rental profits, invested at 7%$513,772 of profit by year 30, before investment growth	$1,398,716
What you'd walk away with	$1,455,756
If you put the same money in stocks
Cash to close ($5,750) invested at 7%	$43,770
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	$43,770
Building minus stocks	$1,411,986

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $20,000 of principal by year 30	$0
Plus rental profits, invested at 7%$419,590 of profit by year 30, before investment growth	$1,142,105
What you'd walk away with	$1,199,146
If you put the same money in stocks
Cash to close ($5,750) invested at 7%	$43,770
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	$43,770
Building minus stocks	$1,155,376

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $12,000 of principal by year 30	$0
Plus rental profits, invested at 7%$532,933 of profit by year 30, before investment growth	$1,459,047
What you'd walk away with	$1,493,271
If you put the same money in stocks
Cash to close ($3,450) invested at 7%	$26,262
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	$26,262
Building minus stocks	$1,467,009

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $12,000 of principal by year 30	$0
Plus rental profits, invested at 7%$438,751 of profit by year 30, before investment growth	$1,202,436
What you'd walk away with	$1,236,661
If you put the same money in stocks
Cash to close ($3,450) invested at 7%	$26,262
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	$26,262
Building minus stocks	$1,210,399

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $18,750 of principal by year 30	$0
Plus rental profits, invested at 7%$516,766 of profit by year 30, before investment growth	$1,408,142
What you'd walk away with	$1,465,183
If you put the same money in stocks
Cash to close ($7,000) invested at 7%	$53,286
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	$53,286
Building minus stocks	$1,411,897

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$60,682
Minus 6% selling cost	−$3,641
Minus loan still owedTenants' rent paid down all $18,750 of principal by year 30	$0
Plus rental profits, invested at 7%$422,584 of profit by year 30, before investment growth	$1,151,532
What you'd walk away with	$1,208,573
If you put the same money in stocks
Cash to close ($7,000) invested at 7%	$53,286
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	$53,286
Building minus stocks	$1,155,287

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $11,250 of principal by year 30	$0
Plus rental profits, invested at 7%$534,729 of profit by year 30, before investment growth	$1,464,703
What you'd walk away with	$1,498,927
If you put the same money in stocks
Cash to close ($4,200) invested at 7%	$31,971
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	$31,971
Building minus stocks	$1,466,956

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$36,409
Minus 6% selling cost	−$2,185
Minus loan still owedTenants' rent paid down all $11,250 of principal by year 30	$0
Plus rental profits, invested at 7%$440,547 of profit by year 30, before investment growth	$1,208,093
What you'd walk away with	$1,242,317
If you put the same money in stocks
Cash to close ($4,200) invested at 7%	$31,971
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	$31,971
Building minus stocks	$1,210,346

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 $1.46M, stocks $44K. 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.

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

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1602 Pioneer Ct, Thief River Falls	$730	1 / 1	550	1.0 mi	2026-05-14	Apartment
1301 1st St W, Thief River Falls	$945	1 / 1	630	1.3 mi	2025-04-02	Apartment
1120 Barrette St, Crookston	$868	1 / 1	500	29.8 mi	2025-07-10	Apartment
1700 Widman Ln, Crookston	$865	1 / 1	775	29.9 mi	2025-05-29	Apartment
400 17th St NW, East Grand Forks	$758	1 / 1	479	41.0 mi	2026-06-02	Apartment
220 E Gateway Dr NW, East Grand Forks	$585	1 / 1	650	41.0 mi	2026-09-19	Apartment
2206 8th Ave NW, East Grand Forks	$650	1 / 1	450	41.2 mi	2026-03-21	Apartment
228 2nd Ave W, Halstad	$745	1 / 1	—	60.7 mi	2026-07-09	Apartment
125 Roman Dr NW, Bemidji	$825	1 / 1	—	72.8 mi	2026-06-12	Apartment
1114 Minnesota Ave NW, Bemidji	$1,025	1 / 1	—	74.3 mi	2026-10-01	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 422 CONLEY AVE 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.	$754
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,211
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 1890: +1 pt capital reserve	8% / 9%

Status history

2026-08-10New at $25,000

From the listing Listing

Listed as	duplex other
Property tax, 2026	$754
County	Pennington
Parcel number	2501209500

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 Thief River Falls on rental licensing before you buy.