804 S 4th St

Cash flows

43 photos

Photos courtesy of Weichert Realtors, Community Group, via Realtor.com.

Asking price: $389,000
Monthly cash flow: $592
Estimated rent: $5,075/mo
Break-even price: $500,271

Adjust the numbers See the full breakdown

From the listing

Your next investment property awaits you in St. Peter. This historic building with Victorian charm is a 4-plex that has been well taken care of and many updates have already been taken care of as well. The 4-plex is located one block from the Minnesota Square Park, close to Gustavus College and a short walk to all of the downtown amenities. There may be room behind the building to add garages. You would need to check with the City of St. Peter. The building has all new steel siding, new roof in Nov. 2023, new chimney with a new cement cap in Oct. 21, New stainless steel chimney liner from the top of the chimney to the furnace in May 21. All new appliances within the last 6 years, New water heater in 2019, Coin operated washer and dryer in the basement. New dryer in 2023. All windows are aluminum combination storm windows. The units are all leased and ready for a new owner.

Listing courtesy of Weichert Realtors, Community Group (Richard Draheim). Description from Realtor.com, MLS #7024459. 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: $389,000
Cash to close: $89,470
Price per unit: $97,250
GRM: 6.4

Each month

Cash flow: $592/mo
Cash-on-cash: 7.9%
Cap rate: 8.2%
DSCR: 1.29×

Break-even

Price that breaks even: $500,271
Rent that breaks even: $4,306/mo

Long run

Year 30: property vs stocks: $2.57M vs $681K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,075
Vacancy (6%)	−$304
Collected	$4,770
Property tax Listing	−$446
Insurance Estimate	−$399
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$406
Capital reserve (9% of rent)	−$457
Net operating income	$2,663
Mortgage (principal + interest)	−$2,070
Cash flow	$592
Principal paid down (equity, not cash)	$263

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	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $350,100 of principal by year 30	$0
Plus rental profits, invested at 7%$610,626 of profit by year 30, before investment growth	$1,319,139
What you'd walk away with	$2,206,692
If you put the same money in stocks
Cash to close ($50,570) invested at 7%	$384,952
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	$384,952
Building minus stocks	$1,821,740

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $350,100 of principal by year 30	$0
Plus rental profits, invested at 7%$376,164 of profit by year 30, before investment growth	$721,599
What you'd walk away with	$1,609,152
If you put the same money in stocks
Cash to close ($50,570) invested at 7%	$384,952
Monthly shortfalls ($10,654 total by yr 30) investedThe money you'd have put into the building while it lost money	$70,306
What you'd walk away with	$455,257
Building minus stocks	$1,153,895

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $341,100 of principal by year 30	$0
Plus rental profits, invested at 7%$632,451 of profit by year 30, before investment growth	$1,388,752
What you'd walk away with	$2,253,489
If you put the same money in stocks
Cash to close ($49,270) invested at 7%	$375,056
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	$375,056
Building minus stocks	$1,878,433

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $341,100 of principal by year 30	$0
Plus rental profits, invested at 7%$394,846 of profit by year 30, before investment growth	$770,945
What you'd walk away with	$1,635,682
If you put the same money in stocks
Cash to close ($49,270) invested at 7%	$375,056
Monthly shortfalls ($7,510 total by yr 30) investedThe money you'd have put into the building while it lost money	$50,038
What you'd walk away with	$425,094
Building minus stocks	$1,210,588

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $311,200 of principal by year 30	$0
Plus rental profits, invested at 7%$714,298 of profit by year 30, before investment growth	$1,680,203
What you'd walk away with	$2,567,755
If you put the same money in stocks
Cash to close ($89,470) invested at 7%	$681,068
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	$681,068
Building minus stocks	$1,886,687

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $311,200 of principal by year 30	$0
Plus rental profits, invested at 7%$469,182 of profit by year 30, before investment growth	$1,012,357
What you'd walk away with	$1,899,910
If you put the same money in stocks
Cash to close ($89,470) invested at 7%	$681,068
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	$681,068
Building minus stocks	$1,218,842

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $303,200 of principal by year 30	$0
Plus rental profits, invested at 7%$733,458 of profit by year 30, before investment growth	$1,740,534
What you'd walk away with	$2,605,270
If you put the same money in stocks
Cash to close ($87,170) invested at 7%	$663,560
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	$663,560
Building minus stocks	$1,941,710

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $303,200 of principal by year 30	$0
Plus rental profits, invested at 7%$488,343 of profit by year 30, before investment growth	$1,072,689
What you'd walk away with	$1,937,425
If you put the same money in stocks
Cash to close ($87,170) invested at 7%	$663,560
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	$663,560
Building minus stocks	$1,273,865

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $291,750 of principal by year 30	$0
Plus rental profits, invested at 7%$760,882 of profit by year 30, before investment growth	$1,826,883
What you'd walk away with	$2,714,436
If you put the same money in stocks
Cash to close ($108,920) invested at 7%	$829,127
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	$829,127
Building minus stocks	$1,885,309

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$944,205
Minus 6% selling cost	−$56,652
Minus loan still owedTenants' rent paid down all $291,750 of principal by year 30	$0
Plus rental profits, invested at 7%$515,767 of profit by year 30, before investment growth	$1,159,038
What you'd walk away with	$2,046,590
If you put the same money in stocks
Cash to close ($108,920) invested at 7%	$829,127
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	$829,127
Building minus stocks	$1,217,463

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $284,250 of principal by year 30	$0
Plus rental profits, invested at 7%$778,845 of profit by year 30, before investment growth	$1,883,443
What you'd walk away with	$2,748,180
If you put the same money in stocks
Cash to close ($106,120) invested at 7%	$807,813
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	$807,813
Building minus stocks	$1,940,367

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $284,250 of principal by year 30	$0
Plus rental profits, invested at 7%$533,730 of profit by year 30, before investment growth	$1,215,598
What you'd walk away with	$2,080,335
If you put the same money in stocks
Cash to close ($106,120) invested at 7%	$807,813
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	$807,813
Building minus stocks	$1,272,522

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 $2.57M, stocks $681K. 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 $1,275/mo · range $1,150–$1,375 · 7 rentals within 10 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
314 S 3rd St Unit 3C, Saint Peter	$1,350	2 / 1	1,160	0.3 mi	2026-10-01	Apartment
301 S Washington Ave, Saint Peter	$1,260	2 / 1	1,157	0.3 mi	2026-01-14	Apartment
208-212 S Minnesota Ave, Saint Peter	$1,100	2 / 1	950	0.4 mi	2024-05-22	Apartment
219 Park Row Unit B, Saint Peter	$1,200	2 / 1	—	0.5 mi	2023-01-06	Apartment
1573 Aspen Dr, Saint Peter	$1,355	2 / 1	816	0.7 mi	2025-04-12	Apartment
111 W Lind St, Mankato	$1,130	2 / 1	775	9.4 mi	2026-08-22	Apartment
101 Main St S, Le Sueur	$1,400	2 / 1	1,050	9.9 mi	2026-08-01	Apartment

1 bed estimate $1,250/mo · range $900–$1,425 · 6 rentals within 10 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1573 Aspen Dr, Saint Peter	$1,255	1 / 1	704	0.7 mi	2025-04-12	Apartment
1247 Range St Apt 118, Mankato	$1,365	1 / 1	758	9.7 mi	2026-08-13	Apartment
1247 Range St Apt 429, Mankato	$1,465	1 / 1	758	9.7 mi	2026-01-26	Apartment
101 Main St S, Le Sueur	$1,175	1 / 1	660	9.9 mi	2026-08-01	Apartment
223 Bridge St, Le Sueur	$750	1 / 1	600	10.0 mi	2026-09-28	Apartment
221 Bridge St, Le Sueur	$900	1 / 1	1,020	10.0 mi	2025-07-16	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 804 4TH ST S

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 217 days on market, 1 price cuts

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 2025. 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.	$5,354
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,787
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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

2026-03-02Price cut at $389,000 (was $399,000) · from listing history
2026-03-02New at $389,000

From the listing Listing

Listed as	four plex
Property tax, 2025	$5,354
County	Nicollet
Parcel number	194121840

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 Saint Peter on rental licensing before you buy.