815 2nd Ave NW

36 photos

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

Asking price: $284,500
Monthly cash flow: −$173
Estimated rent: $2,725/mo
Break-even price: $251,915

Adjust the numbers See the full breakdown

From the listing

Opportunity awaits! This well-maintained duplex offers a fantastic opportunity to step into homeownership while also enjoying the benefits of an income-producing property. Whether you're looking to add to your investment portfolio or purchase your first property and offset your monthly expenses with rental income from the second unit, this one is worth a look. Both units feature nice updates throughout while maintaining a comfortable, welcoming feel. With two separate living spaces, this property offers flexibility for an owner-occupant or investor alike. Live in one unit and rent the other, or utilize both as rental opportunities-the choice is yours! If you've been looking for a smart way to get started in real estate ownership, this home offers an exciting combination of versatility, potential, and value. Schedule your showing and come see the possibilities this duplex has to offer!

Listing courtesy of Exp Realty - Broker (Lacie Nelson). Description from Realtor.com, MLS #7143175. 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: $284,500
Cash to close: $65,435
Price per unit: $142,250
GRM: 8.7

Each month

Cash flow: −$173/mo
Cash-on-cash: −3.2%
Cap rate: 5.7%
DSCR: 0.89×

Break-even

Price that breaks even: $251,915
Rent that breaks even: $2,950/mo

Long run

Year 30: property vs stocks: $987K vs $537K
Cash flow turns positive: year 6

Monthly

Monthly breakdown

Rent	$2,725
Vacancy (6%)	−$164
Collected	$2,562
Property tax Listing	−$308
Insurance Estimate	−$220
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$218
Capital reserve (9% of rent)	−$245
Net operating income	$1,341
Mortgage (principal + interest)	−$1,514
Cash flow	−$173
Principal paid down (equity, not cash)	$193

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	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $256,050 of principal by year 30	$0
Plus rental profits, invested at 7%$137,844 of profit by year 30, before investment growth	$219,096
What you'd walk away with	$868,219
If you put the same money in stocks
Cash to close ($36,985) invested at 7%	$281,539
Monthly shortfalls ($30,108 total by yr 30) investedThe money you'd have put into the building while it lost money	$183,735
What you'd walk away with	$465,274
Building minus stocks	$402,945

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $256,050 of principal by year 30	$0
Plus rental profits, invested at 7%$49,962 of profit by year 30, before investment growth	$65,798
What you'd walk away with	$714,921
If you put the same money in stocks
Cash to close ($36,985) invested at 7%	$281,539
Monthly shortfalls ($73,840 total by yr 30) investedThe money you'd have put into the building while it lost money	$389,034
What you'd walk away with	$670,573
Building minus stocks	$44,348

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $247,050 of principal by year 30	$0
Plus rental profits, invested at 7%$153,136 of profit by year 30, before investment growth	$252,175
What you'd walk away with	$878,481
If you put the same money in stocks
Cash to close ($35,685) invested at 7%	$271,643
Monthly shortfalls ($23,575 total by yr 30) investedThe money you'd have put into the building while it lost money	$147,201
What you'd walk away with	$418,844
Building minus stocks	$459,637

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $247,050 of principal by year 30	$0
Plus rental profits, invested at 7%$59,784 of profit by year 30, before investment growth	$81,429
What you'd walk away with	$707,735
If you put the same money in stocks
Cash to close ($35,685) invested at 7%	$271,643
Monthly shortfalls ($61,836 total by yr 30) investedThe money you'd have put into the building while it lost money	$335,052
What you'd walk away with	$606,695
Building minus stocks	$101,040

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $227,600 of principal by year 30	$0
Plus rental profits, invested at 7%$189,474 of profit by year 30, before investment growth	$338,280
What you'd walk away with	$987,403
If you put the same money in stocks
Cash to close ($65,435) invested at 7%	$498,108
Monthly shortfalls ($5,917 total by yr 30) investedThe money you'd have put into the building while it lost money	$38,851
What you'd walk away with	$536,959
Building minus stocks	$450,444

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $227,600 of principal by year 30	$0
Plus rental profits, invested at 7%$84,637 of profit by year 30, before investment growth	$124,883
What you'd walk away with	$774,006
If you put the same money in stocks
Cash to close ($65,435) invested at 7%	$498,108
Monthly shortfalls ($32,693 total by yr 30) investedThe money you'd have put into the building while it lost money	$184,050
What you'd walk away with	$682,158
Building minus stocks	$91,848

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $219,600 of principal by year 30	$0
Plus rental profits, invested at 7%$205,818 of profit by year 30, before investment growth	$380,722
What you'd walk away with	$1,007,028
If you put the same money in stocks
Cash to close ($63,135) invested at 7%	$480,600
Monthly shortfalls ($3,100 total by yr 30) investedThe money you'd have put into the building while it lost money	$20,961
What you'd walk away with	$501,561
Building minus stocks	$505,467

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $219,600 of principal by year 30	$0
Plus rental profits, invested at 7%$96,355 of profit by year 30, before investment growth	$147,348
What you'd walk away with	$773,654
If you put the same money in stocks
Cash to close ($63,135) invested at 7%	$480,600
Monthly shortfalls ($25,250 total by yr 30) investedThe money you'd have put into the building while it lost money	$146,184
What you'd walk away with	$626,784
Building minus stocks	$146,870

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $213,375 of principal by year 30	$0
Plus rental profits, invested at 7%$219,141 of profit by year 30, before investment growth	$417,182
What you'd walk away with	$1,066,304
If you put the same money in stocks
Cash to close ($79,660) invested at 7%	$606,392
Monthly shortfalls ($1,513 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,476
What you'd walk away with	$616,868
Building minus stocks	$449,436

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$690,556
Minus 6% selling cost	−$41,433
Minus loan still owedTenants' rent paid down all $213,375 of principal by year 30	$0
Plus rental profits, invested at 7%$106,061 of profit by year 30, before investment growth	$166,879
What you'd walk away with	$816,002
If you put the same money in stocks
Cash to close ($79,660) invested at 7%	$606,392
Monthly shortfalls ($20,048 total by yr 30) investedThe money you'd have put into the building while it lost money	$118,770
What you'd walk away with	$725,162
Building minus stocks	$90,840

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $205,875 of principal by year 30	$0
Plus rental profits, invested at 7%$235,937 of profit by year 30, before investment growth	$465,733
What you'd walk away with	$1,092,039
If you put the same money in stocks
Cash to close ($76,860) invested at 7%	$585,078
Monthly shortfalls ($347 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,467
What you'd walk away with	$587,545
Building minus stocks	$504,494

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$666,284
Minus 6% selling cost	−$39,977
Minus loan still owedTenants' rent paid down all $205,875 of principal by year 30	$0
Plus rental profits, invested at 7%$118,456 of profit by year 30, before investment growth	$193,048
What you'd walk away with	$819,354
If you put the same money in stocks
Cash to close ($76,860) invested at 7%	$585,078
Monthly shortfalls ($14,479 total by yr 30) investedThe money you'd have put into the building while it lost money	$88,378
What you'd walk away with	$673,456
Building minus stocks	$145,898

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 $987K, stocks $537K. 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.

3 bed estimate $1,475/mo · range $1,275–$1,700 · 141 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
9 1st St SW Apt 1, Faribault	$1,650	3 / 1	—	0.7 mi	2026-09-22	Apartment
1400 Heritage Dr, Northfield	$2,300	3 / 2	1,340	10.4 mi	2025-01-03	Apartment
488 N Welco Dr Apt 24, Montgomery	$1,125	3 / 1	1,000	18.5 mi	—	Apartment
96 Valley Ln, Eagle Lake	$1,400	3 / 1.5	1,100	31.5 mi	2026-06-03	Apartment
630 Maple Ln, Eagle Lake	$1,495	3 / 1.5	1,200	31.5 mi	2026-08-26	Apartment
217 Thomas Dr E, Eagle Lake	$1,495	3 / 2	1,232	31.6 mi	2025-05-29	Apartment
101 Eagle Ave Apt 1, Eagle Lake	$1,600	3 / 3	1,242	31.6 mi	2024-05-16	Apartment
3200 Noble Dr, Mankato	$2,150	3 / 2	1,628	33.5 mi	2026-04-02	Apartment
301 S Washington Ave, Saint Peter	$1,450	3 / 1	1,276	34.2 mi	2026-01-14	Apartment
920 Patriot Dr, Mankato	$1,395	3 / 1.5	1,285	35.7 mi	2026-05-15	Apartment

2 bed estimate $1,250/mo · range $1,150–$1,275 · 7 rentals in Rice County

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
104 8th St NW, Faribault	$1,050	2 / 1	—	0.1 mi	2026-07-16	Apartment
415 9th St NW Apt 3, Faribault	$1,275	2 / 1	1,092	0.2 mi	—	Apartment
1711 SW 2nd St Apt 4, Faribault	$1,250	2 / 1	725	1.4 mi	—	Apartment
1723 2nd St SW, Faribault	$1,250	2 / 1	—	1.4 mi	2026-05-05	Apartment
2310 Park Ave NW Apt 501, Faribault	$1,250	2 / 1	900	1.5 mi	—	Apartment
1920 Roosevelt Dr Apt 50, Northfield	$1,155	2 / 1	910	10.7 mi	—	Apartment
951 Ensley Ave, Northfield	$1,300	2 / 1	950	12.7 mi	2025-01-03	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 815 2ND AVE 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.	$3,690
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,639
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 1900: +1 pt capital reserve	8% / 9%

Status history

2026-09-21New at $284,500

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$3,690
County	Rice
Parcel number	1830450040

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 Faribault on rental licensing before you buy.