520 S 2nd St

Mankato, MN · View the listing ↗

Far off

32 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $550,000
Monthly cash flow: −$1,397
Estimated rent: $3,200/mo
Break-even price: $287,448

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: $550,000
Cash to close: $126,500
Price per unit: $275,000
GRM: 14.3

Each month

Cash flow: −$1,397/mo
Cash-on-cash: −13.3%
Cap rate: 3.3%
DSCR: 0.52×

Break-even

Price that breaks even: $287,448
Rent that breaks even: $5,039/mo

Long run

Year 30: property vs stocks: $1.27M vs $2.00M
Cash flow turns positive: year 26

Monthly

Monthly breakdown

Rent	$3,200
Vacancy (6%)	−$192
Collected	$3,008
Property tax Listing	−$438
Insurance Estimate	−$234
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$288
Capital reserve (9% of rent)	−$288
Net operating income	$1,530
Mortgage (principal + interest)	−$2,927
Cash flow	−$1,397
Principal paid down (equity, not cash)	$372

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	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,895
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($370,794 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,532,007
What you'd walk away with	$2,076,283
Building minus stocks	−$821,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,895
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($525,349 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,953,111
What you'd walk away with	$2,497,388
Building minus stocks	−$1,242,493

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 of principal by year 30	$0
Plus rental profits, invested at 7%$617 of profit by year 30, before investment growth	$617
What you'd walk away with	$1,232,696
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($349,585 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,463,011
What you'd walk away with	$1,997,392
Building minus stocks	−$764,696

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,232,078
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($503,523 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,883,498
What you'd walk away with	$2,417,879
Building minus stocks	−$1,185,801

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 of principal by year 30	$0
Plus rental profits, invested at 7%$11,591 of profit by year 30, before investment growth	$12,575
What you'd walk away with	$1,267,470
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($235,804 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,034,081
What you'd walk away with	$1,997,031
Building minus stocks	−$729,561

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,895
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($378,769 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,442,610
What you'd walk away with	$2,405,560
Building minus stocks	−$1,150,665

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$14,903 of profit by year 30, before investment growth	$16,415
What you'd walk away with	$1,248,493
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($219,956 total by yr 30) investedThe money you'd have put into the building while it lost money	$977,589
What you'd walk away with	$1,923,031
Building minus stocks	−$674,538

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,232,078
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($359,608 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,382,279
What you'd walk away with	$2,327,721
Building minus stocks	−$1,095,643

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 of principal by year 30	$0
Plus rental profits, invested at 7%$25,027 of profit by year 30, before investment growth	$28,727
What you'd walk away with	$1,283,621
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($183,376 total by yr 30) investedThe money you'd have put into the building while it lost money	$842,844
What you'd walk away with	$2,015,131
Building minus stocks	−$731,510

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,895
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($312,904 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,235,222
What you'd walk away with	$2,407,509
Building minus stocks	−$1,152,614

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 of principal by year 30	$0
Plus rental profits, invested at 7%$29,731 of profit by year 30, before investment growth	$34,731
What you'd walk away with	$1,266,809
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($170,116 total by yr 30) investedThe money you'd have put into the building while it lost money	$792,288
What you'd walk away with	$1,943,261
Building minus stocks	−$676,452

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,232,078
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($294,941 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,178,661
What you'd walk away with	$2,329,634
Building minus stocks	−$1,097,556

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 $1.27M, stocks $2.00M. Stocks win.

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.

5 bed estimate $1,600/mo · range $1,375–$2,000 · 33 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
520 S 2nd St, Mankato	$2,080	4 / 1	1,525	0.0 mi	2026-06-01	Apartment
526 S 2nd St Apt 1, Mankato	$2,475	5 / 2	—	0.0 mi	2022-11-15	Apartment
526 S 2nd St Apt 3, Mankato	$1,980	4 / 2	—	0.0 mi	2026-10-01	Apartment
216 James Ave, Mankato	$2,200	4 / 2	1,200	0.8 mi	2026-04-16	Apartment
224 James Ave, Mankato	$1,979	4 / 2	1,700	0.8 mi	2026-03-03	Apartment
422 Division St S, Northfield	$2,800	4 / 2	1,567	46.4 mi	2026-01-30	Apartment
2998 Rivers Ridge Dr, Red Wing	$2,190	4 / 3.5	2,607	75.7 mi	2026-07-25	Apartment
1730 Restoration Rd SW, Rochester	$1,948	4 / 2	1,494	76.8 mi	2026-08-28	Apartment
826 21st Ave SE, Rochester	$1,395	4 / 2	1,240	78.8 mi	2026-04-30	Apartment
A 1501 7th Ave S Unit 103, Saint Cloud	$1,450	4 / 2	—	95.7 mi	2025-07-09	Apartment

4 bed estimate $1,600/mo · range $1,375–$2,000 · 33 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
520 S 2nd St, Mankato	$2,080	4 / 1	1,525	0.0 mi	2026-06-01	Apartment
526 S 2nd St Apt 1, Mankato	$2,475	5 / 2	—	0.0 mi	2022-11-15	Apartment
526 S 2nd St Apt 3, Mankato	$1,980	4 / 2	—	0.0 mi	2026-10-01	Apartment
216 James Ave, Mankato	$2,200	4 / 2	1,200	0.8 mi	2026-04-16	Apartment
224 James Ave, Mankato	$1,979	4 / 2	1,700	0.8 mi	2026-03-03	Apartment
422 Division St S, Northfield	$2,800	4 / 2	1,567	46.4 mi	2026-01-30	Apartment
2998 Rivers Ridge Dr, Red Wing	$2,190	4 / 3.5	2,607	75.7 mi	2026-07-25	Apartment
1730 Restoration Rd SW, Rochester	$1,948	4 / 2	1,494	76.8 mi	2026-08-28	Apartment
826 21st Ave SE, Rochester	$1,395	4 / 2	1,240	78.8 mi	2026-04-30	Apartment
A 1501 7th Ave S Unit 103, Saint Cloud	$1,450	4 / 2	—	95.7 mi	2025-07-09	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 520 2ND ST S
mediumAsking is $262,552 above the price where cash flow breaks even ($287,448) at the default scenario. Based on: Derived: price $550,000 vs. break-even $287,448

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 102 days on market

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.	$5,260
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,805
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 1884: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear	9% / 9%

Status history

2026-06-25New at $550,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$5,260
County	Blue Earth
Parcel number	R010918106027

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 Mankato on rental licensing before you buy.