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Minneapolis › Elliot Park

Elliot Park

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
2
Median price per unit
$260K
Typical cash flow
−$1,157
median per month, 20% down
Crime, last 12 months
79 per 1,000
592 incidents · +2% vs. prior year
Renter households
78%
Median gross rent
$1,032
all unit sizes
Median household income
$57K
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 2 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. 1518 Park Ave serious flag −$62/mo
  2. 1604 Elliot Ave serious flag −$2,252/mo

Best long-term

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

  1. 1518 Park Ave serious flag 2.31× stocks
  2. 1604 Elliot Ave serious flag 0.45× stocks

Value-add

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

  1. 1604 Elliot Ave serious flag The seller bought for $1 in Jul 1992, so they can take a lower offer and still come out well ahead.

Proceed with caution

Decent numbers, serious flags.

  1. 1518 Park Ave Asking price is above the 2023 purchase price and well above county value, and our numbers show negative cash flow.

All listings

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

  1. 1518 Park Ave

    $389,900 · 2 units
    Close
    Cash flow −$62/mo Cap 6.2% Break-even price $378K Yr 30 vs stocks 2.31× Positive in yr 3

    Updated systems and a decent layout, but at $389,900 it loses about $60 a month in our model, so it needs a lower price or stronger rents to work.

    Asking price is above the 2023 purchase price and well above county value, and our numbers show negative cash flow.

  2. 1604 Elliot Ave

    $649,999 · 2 units
    Far off
    Cash flow −$2,252/mo Cap 2.2% Break-even price $227K Yr 30 vs stocks 0.45× Positive in 30+ yrs

    Nicely updated, but at $650K it is priced for an owner-occupant and loses money as a rental; ask for a much lower price and verify permits and licensing.

    Lower level and basement are unfinished, with no photos of that work. Scope, permits and finish date are unknown.

Monthly cash flow

−$2,500−$2,000−$1,500−$1,000−$500$0break-even1518 Park Ave−$621604 Elliot Ave−$2,252

What's changing

Nothing curated for this neighborhood yet.