708 2nd St NW

Cash flows

30 photos

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

Asking price: $179,900
Monthly cash flow: $494
Estimated rent: $2,700/mo
Break-even price: $272,714

Adjust the numbers See the full breakdown

From the listing

Investors and owner-occupants take notice! This well-located duplex offers an excellent opportunity to own an income-producing property in the city of Aitkin. The main-floor unit features 2 bedrooms, 1 bathroom, large kitchen and living space. There is also a spacious enclosed porch at the front entrance. The back entrance has a stairway access to the basement. The upper-level unit has a private staircase entrance from the alley side of the home. Offering 3 bedrooms, 2 bathrooms, large living room and kitchen. This property provides flexibility for a variety of tenants and also boasts a large 24 x 24 detached 2-stall garage with alley-access. Offering ample space and protected storage for vehicles, seasonal toys, and tenant parking in addition to the yard parking available along the alley. Enjoy this ideal location within walking distance of the high school and downtown Aitkin, with restaurants, shopping, services, and local amenities all close by. Whether you're looking to expand your real estate portfolio or live in one unit while generating rental income from the other, this property offers an ideal opportunity to invest in Aitkin's local housing market. A great opportunity to own a versatile, income-producing property.

Listing courtesy of RE/MAX Northland (Jared Lundgren). Description from Realtor.com, MLS #7145539. 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: $179,900
Cash to close: $41,377
Price per unit: $89,950
GRM: 5.6

Each month

Cash flow: $494/mo
Cash-on-cash: 14.3%
Cap rate: 9.7%
DSCR: 1.52×

Break-even

Price that breaks even: $272,714
Rent that breaks even: $2,067/mo

Long run

Year 30: property vs stocks: $1.52M vs $315K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Listing	−$212
Insurance Estimate	−$212
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	$1,452
Mortgage (principal + interest)	−$958
Cash flow	$494
Principal paid down (equity, not cash)	$122

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	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $161,910 of principal by year 30	$0
Plus rental profits, invested at 7%$404,235 of profit by year 30, before investment growth	$945,194
What you'd walk away with	$1,355,659
If you put the same money in stocks
Cash to close ($23,387) invested at 7%	$178,028
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	$178,028
Building minus stocks	$1,177,631

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $161,910 of principal by year 30	$0
Plus rental profits, invested at 7%$273,829 of profit by year 30, before investment growth	$589,887
What you'd walk away with	$1,000,352
If you put the same money in stocks
Cash to close ($23,387) invested at 7%	$178,028
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	$178,028
Building minus stocks	$822,324

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $152,910 of principal by year 30	$0
Plus rental profits, invested at 7%$426,061 of profit by year 30, before investment growth	$1,014,807
What you'd walk away with	$1,402,456
If you put the same money in stocks
Cash to close ($22,087) invested at 7%	$168,132
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	$168,132
Building minus stocks	$1,234,324

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $152,910 of principal by year 30	$0
Plus rental profits, invested at 7%$295,655 of profit by year 30, before investment growth	$659,500
What you'd walk away with	$1,047,149
If you put the same money in stocks
Cash to close ($22,087) invested at 7%	$168,132
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	$168,132
Building minus stocks	$879,017

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $143,920 of principal by year 30	$0
Plus rental profits, invested at 7%$452,180 of profit by year 30, before investment growth	$1,112,175
What you'd walk away with	$1,522,639
If you put the same money in stocks
Cash to close ($41,377) invested at 7%	$314,972
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	$314,972
Building minus stocks	$1,207,667

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $143,920 of principal by year 30	$0
Plus rental profits, invested at 7%$321,774 of profit by year 30, before investment growth	$756,868
What you'd walk away with	$1,167,332
If you put the same money in stocks
Cash to close ($41,377) invested at 7%	$314,972
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	$314,972
Building minus stocks	$852,360

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $135,920 of principal by year 30	$0
Plus rental profits, invested at 7%$471,341 of profit by year 30, before investment growth	$1,172,506
What you'd walk away with	$1,560,154
If you put the same money in stocks
Cash to close ($39,077) invested at 7%	$297,464
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	$297,464
Building minus stocks	$1,262,690

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $135,920 of principal by year 30	$0
Plus rental profits, invested at 7%$340,935 of profit by year 30, before investment growth	$817,199
What you'd walk away with	$1,204,847
If you put the same money in stocks
Cash to close ($39,077) invested at 7%	$297,464
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	$297,464
Building minus stocks	$907,383

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $134,925 of principal by year 30	$0
Plus rental profits, invested at 7%$473,724 of profit by year 30, before investment growth	$1,180,009
What you'd walk away with	$1,590,474
If you put the same money in stocks
Cash to close ($50,372) invested at 7%	$383,445
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	$383,445
Building minus stocks	$1,207,029

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,665
Minus 6% selling cost	−$26,200
Minus loan still owedTenants' rent paid down all $134,925 of principal by year 30	$0
Plus rental profits, invested at 7%$343,318 of profit by year 30, before investment growth	$824,703
What you'd walk away with	$1,235,167
If you put the same money in stocks
Cash to close ($50,372) invested at 7%	$383,445
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	$383,445
Building minus stocks	$851,722

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $127,425 of principal by year 30	$0
Plus rental profits, invested at 7%$491,687 of profit by year 30, before investment growth	$1,236,570
What you'd walk away with	$1,624,218
If you put the same money in stocks
Cash to close ($47,572) invested at 7%	$362,130
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	$362,130
Building minus stocks	$1,262,088

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$412,392
Minus 6% selling cost	−$24,744
Minus loan still owedTenants' rent paid down all $127,425 of principal by year 30	$0
Plus rental profits, invested at 7%$361,281 of profit by year 30, before investment growth	$881,263
What you'd walk away with	$1,268,912
If you put the same money in stocks
Cash to close ($47,572) invested at 7%	$362,130
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	$362,130
Building minus stocks	$906,782

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 $1.52M, stocks $315K. 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.

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

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
100 4th St, Ironton	$1,275	2 / 1	—	12.8 mi	2026-05-23	Apartment
12383 State Highway 210, Brainerd	$675	2 / 1	—	22.5 mi	2026-04-03	Apartment
623 28th St SE, Brainerd	$1,550	2 / 2	964	24.8 mi	2026-02-05	Apartment
941 28th St SE, Brainerd	$1,550	2 / 2	964	24.9 mi	—	Apartment
2100 Breilly Ct Unit 2219, Brainerd	$1,449	2 / 1	—	25.4 mi	—	Apartment
1509 Norwood St, Brainerd	$895	2 / 1	—	25.5 mi	2026-09-07	Apartment
916 S 8th St, Brainerd	$1,060	2 / 1	776	26.2 mi	2024-04-15	Apartment
922 Broadway St, Brainerd	$995	2 / 1	—	26.2 mi	2026-03-04	Apartment
Buffalo Hills Ln E, Brainerd	$1,250	2 / 2	—	27.1 mi	2026-08-12	Apartment
12858 Woodfern Ln, Pillager	$1,435	2 / 2	1,264	36.7 mi	2026-06-05	Apartment

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
27356 Ross Lake Rd, Aitkin	$1,350	3 / 2	—	10.3 mi	2026-08-13	Apartment
23684 County Road 4, Nisswa	$1,265	3 / 2	—	22.2 mi	2026-07-24	Apartment
14306 Forest Dr, Baxter	$2,355	3 / 2.5	1,415	28.1 mi	2026-05-19	Apartment
2199 SW 8th St # 237, Grand Rapids	$2,275	3 / 2	1,318	48.3 mi	—	Apartment
2199 SW 8th St # 437, Grand Rapids	$2,295	3 / 2	1,318	48.3 mi	—	Apartment
212 NE 3rd Ave, Grand Rapids	$1,475	3 / 1	—	49.3 mi	2025-02-04	Apartment
1400 8th St NE, Staples	$800	3 / 1	—	52.1 mi	2026-03-06	Apartment
11 1st Ave NE, Deer River	$1,100	3 / 1	—	55.4 mi	2026-09-05	Apartment
1741 Sahlman Ave, Cloquet	$1,440	3 / 2	1,080	61.5 mi	2025-01-03	Apartment
201 5th Ave E, Sartell	$1,140	3 / 1	944	67.3 mi	2026-03-10	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 708 2ND ST NW

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.	$2,550
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,544
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

2026-09-18New at $179,900

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$2,550
County	Aitkin
Parcel number	561077800

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 Aitkin on rental licensing before you buy.