610 3rd Ave SE

Cash flows

6 photos

Photos courtesy of CENTURY 21 Atwood, via Realtor.com.

Asking price: $174,800
Monthly cash flow: $606
Estimated rent: $2,925/mo
Break-even price: $288,668

Adjust the numbers See the full breakdown

From the listing

Investment Opportunity in Waseca! This triplex offers strong income potential and endless possibilities for the right buyer. Whether you're looking to expand your rental portfolio, live in one unit while renting the others, or renovate and increase value, this property is full of opportunity. Each unit provides functional living space with the chance to add your own updates and improvements. Conveniently located in Waseca near local amenities, parks, schools, and downtown conveniences, this property is a great chance to build equity and generate rental income. Don't miss out on this versatile investment property with tons of potential!

Listing courtesy of CENTURY 21 Atwood (Candee Deichman). Description from Realtor.com, MLS #7078908. 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: $174,800
Cash to close: $40,204
Price per unit: $58,267
GRM: 5.0

Each month

Cash flow: $606/mo
Cash-on-cash: 18.1%
Cap rate: 10.5%
DSCR: 1.65×

Break-even

Price that breaks even: $288,668
Rent that breaks even: $2,138/mo

Long run

Year 30: property vs stocks: $1.67M vs $306K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,925
Vacancy (6%)	−$176
Collected	$2,750
Property tax Listing	−$104
Insurance Estimate	−$297
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$234
Capital reserve (9% of rent)	−$263
Net operating income	$1,536
Mortgage (principal + interest)	−$930
Cash flow	$606
Principal paid down (equity, not cash)	$118

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	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $157,320 of principal by year 30	$0
Plus rental profits, invested at 7%$460,864 of profit by year 30, before investment growth	$1,107,130
What you'd walk away with	$1,505,958
If you put the same money in stocks
Cash to close ($22,724) invested at 7%	$172,981
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	$172,981
Building minus stocks	$1,332,977

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $157,320 of principal by year 30	$0
Plus rental profits, invested at 7%$319,591 of profit by year 30, before investment growth	$722,214
What you'd walk away with	$1,121,042
If you put the same money in stocks
Cash to close ($22,724) invested at 7%	$172,981
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	$172,981
Building minus stocks	$948,061

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $148,320 of principal by year 30	$0
Plus rental profits, invested at 7%$482,690 of profit by year 30, before investment growth	$1,176,743
What you'd walk away with	$1,552,755
If you put the same money in stocks
Cash to close ($21,424) invested at 7%	$163,085
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	$163,085
Building minus stocks	$1,389,670

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $148,320 of principal by year 30	$0
Plus rental profits, invested at 7%$341,417 of profit by year 30, before investment growth	$791,827
What you'd walk away with	$1,167,839
If you put the same money in stocks
Cash to close ($21,424) invested at 7%	$163,085
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	$163,085
Building minus stocks	$1,004,754

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $139,840 of principal by year 30	$0
Plus rental profits, invested at 7%$507,450 of profit by year 30, before investment growth	$1,269,376
What you'd walk away with	$1,668,205
If you put the same money in stocks
Cash to close ($40,204) invested at 7%	$306,043
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	$306,043
Building minus stocks	$1,362,162

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $139,840 of principal by year 30	$0
Plus rental profits, invested at 7%$366,177 of profit by year 30, before investment growth	$884,460
What you'd walk away with	$1,283,289
If you put the same money in stocks
Cash to close ($40,204) invested at 7%	$306,043
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	$306,043
Building minus stocks	$977,246

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $131,840 of principal by year 30	$0
Plus rental profits, invested at 7%$526,611 of profit by year 30, before investment growth	$1,329,707
What you'd walk away with	$1,705,719
If you put the same money in stocks
Cash to close ($37,904) invested at 7%	$288,535
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	$288,535
Building minus stocks	$1,417,184

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $131,840 of principal by year 30	$0
Plus rental profits, invested at 7%$385,338 of profit by year 30, before investment growth	$944,792
What you'd walk away with	$1,320,804
If you put the same money in stocks
Cash to close ($37,904) invested at 7%	$288,535
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	$288,535
Building minus stocks	$1,032,269

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $131,100 of principal by year 30	$0
Plus rental profits, invested at 7%$528,383 of profit by year 30, before investment growth	$1,335,288
What you'd walk away with	$1,734,116
If you put the same money in stocks
Cash to close ($48,944) invested at 7%	$372,574
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	$372,574
Building minus stocks	$1,361,542

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$424,285
Minus 6% selling cost	−$25,457
Minus loan still owedTenants' rent paid down all $131,100 of principal by year 30	$0
Plus rental profits, invested at 7%$387,110 of profit by year 30, before investment growth	$950,372
What you'd walk away with	$1,349,201
If you put the same money in stocks
Cash to close ($48,944) invested at 7%	$372,574
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	$372,574
Building minus stocks	$976,627

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $123,600 of principal by year 30	$0
Plus rental profits, invested at 7%$546,346 of profit by year 30, before investment growth	$1,391,848
What you'd walk away with	$1,767,861
If you put the same money in stocks
Cash to close ($46,144) invested at 7%	$351,260
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	$351,260
Building minus stocks	$1,416,601

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$400,013
Minus 6% selling cost	−$24,001
Minus loan still owedTenants' rent paid down all $123,600 of principal by year 30	$0
Plus rental profits, invested at 7%$405,073 of profit by year 30, before investment growth	$1,006,933
What you'd walk away with	$1,382,945
If you put the same money in stocks
Cash to close ($46,144) invested at 7%	$351,260
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	$351,260
Building minus stocks	$1,031,685

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 $1.67M, stocks $306K. 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
117 State St S, Waseca	$699	1 / 1	600	0.4 mi	2025-03-05	Apartment
121 N State St Unit 7, Waseca	$995	1 / 1	—	0.4 mi	—	Apartment
509 4th St NE, Waseca	$895	1 / 1	496	0.5 mi	2026-09-10	Apartment
200 19th Ave NW, Waseca	$1,350	1 / 1	676	1.4 mi	2026-02-27	Apartment
660 Mound St, Owatonna	$1,150	1 / 1	648	12.8 mi	2026-07-21	Apartment
614 W Bridge St, Owatonna	$1,205	1 / 1	623	12.9 mi	2025-01-03	Apartment
306 State Ave Apt 2, Owatonna	$900	1 / 1	900	13.0 mi	—	Apartment
421 State Ave, Owatonna	$949	1 / 1	700	13.1 mi	2025-06-04	Apartment
431 State Ave, Owatonna	$949	1 / 1	600	13.1 mi	2025-06-04	Apartment
422 N Cedar Ave, Owatonna	$825	1 / 1	475	13.6 mi	2026-03-04	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 610 3RD AVE SE

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 137 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.	$1,251
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,559
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1887: +1 pt capital reserve	8% / 9%

Status history

2026-05-21New at $174,800

From the listing Listing

Listed as	triplex
Property tax, 2026	$1,251
County	Waseca
Parcel number	172760920

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 Waseca on rental licensing before you buy.