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Armatage

Minneapolis neighborhood. Every 2–4 unit listing here, run through the same numbers at 20% down and 7%.

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Neighborhood profile

Listings we track
3
Median price per unit
$248K
Typical cash flow
−$159
median per month, 20% down
Crime, last 12 months
8 per 1,000
44 incidents · −41% vs. prior year
Renter households
17%
Median gross rent
$2,281
all unit sizes
Median household income
$147K
Rent rules
No cap
Rents can reset to market at renewal

Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities). Per-resident rates use 2020 Census population. Census figures: ACS 2020–2024 5-year, combining 1 tract(s) centered in this neighborhood; medians are household-weighted averages of tract medians.

Map

Top picks

Ranked on real rent estimates (nearby comparable rentals or our own research). Listings with a serious red flag are under Proceed with caution instead, however good the numbers look.

None yet with verified rents. Every listing here is ranked on rough rent estimates for now (tagged “rough” below); those are places with too few rentals nearby to compare.

Ways to slice it

Best cash flow now

Monthly cash flow at 20% down.

  1. 5844 Washburn Ave S serious flag $10/mo
  2. 5936 Washburn Ave S serious flag −$159/mo
  3. 5433/5435 Penn Ave S serious flag −$249/mo

Best long-term

Year-30 wealth vs. the same money in stocks.

  1. 5844 Washburn Ave S serious flag 2.48× stocks
  2. 5936 Washburn Ave S serious flag 2.16× stocks
  3. 5433/5435 Penn Ave S serious flag 1.96× stocks

Value-add

Under-rented, needs work, or room to negotiate.

  1. 5844 Washburn Ave S serious flag Long time on market: room to negotiate.
  2. 5433/5435 Penn Ave S serious flag Long time on market: room to negotiate.

Proceed with caution

Decent numbers, serious flags.

  1. 5844 Washburn Ave S Asking price is $54K above the March 2025 purchase price, and the numbers barely break even at ask.
  2. 5936 Washburn Ave S Price is $123K above the 2020 sale and cash flow is negative at ask

All listings

3 listings. Filter by price or units, or switch the down payment.

  1. 5844 Washburn Ave S

    $480,000 · 2 units
    Cash flows
    Cash flow $10/mo Cap 6.4% Break-even price $482K Yr 30 vs stocks 2.48× Positive in yr 1

    A clean, updated 3/3 duplex, but at $480K it only breaks even, so it needs a real price cut or rents at the top of our range.

    Asking price is $54K above the March 2025 purchase price, and the numbers barely break even at ask.

  2. 5936 Washburn Ave S

    $510,000 · 2 units
    Close
    Cash flow −$159/mo Cap 6.0% Break-even price $480K Yr 30 vs stocks 2.16× Positive in yr 4

    Nicely updated and move-in ready, but at $510K it loses money at today's rates, so it only works nearer $480K.

    Price is $123K above the 2020 sale and cash flow is negative at ask

  3. 5433/5435 Penn Ave S

    $495,000 · 2 units
    Close
    Cash flow −$249/mo Cap 5.8% Break-even price $448K Yr 30 vs stocks 1.96× Positive in yr 5

    A nicely laid-out side-by-side with separate systems and garages, but at $495K it runs about -$268/month at 7.0%, and break-even is closer to $445K.

    No rents, lease status or occupancy given, so income is unknown

Monthly cash flow

−$500$0$500break-even5844 Washburn Ave S$105936 Washburn Ave S−$1595433/5435 Penn Ave S−$249

What's changing

Nothing curated for this neighborhood yet.