100 W 40th St
Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 3,512 sq ft
Minneapolis, MN · King Field · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $675,000 2 units · $338K per unit
- Monthly cash flow
- −$2,045 at 20% down, 7%
- Break-even price
- $290,845 where cash flow hits $0
First look
This is a nicely kept 1925 duplex in King Field, but at $675K the numbers don't work as an investment. Our underwriting shows about -$2,064 a month and a 2.7% cap rate, and break-even is near $287K. Rent estimates of roughly $1,700 to $2,000 per unit can't carry a $675K price at today's rates. The listing pitches it as live-in-one, rent-the-other, which fits an owner-occupant better than an investor. The lower-level unit is non-conforming, so don't count it as income until you confirm it can be legally rented. Check the rental license (it shows 2 units), the actual rents, and the boiler setup first. Worth a showing only if you plan to live there or the seller moves well down.
Things to consider
- Price is far above what rents support Underwriting shows negative cash flow of about $2,064 a month and break-even near $287K. This only works if you value living there.
- Non-conforming lower unit It may not be legally rentable, and the license lists only 2 units. Don't underwrite income from it.Listing says: “a non-conforming lower-level unit”
- Seller has big equity Bought at $290K in 2008, so the seller has room to cut price and still profit.
- Non-homestead tax is high Taxes of about $10.9K a year are a large expense and weigh on net income.
- Recent capital work reduces near-term repairs A 2021 roof and updated kitchens mean fewer big checks soon, but verify systems like electrical and plumbing.Listing says: “Roof replaced in 2021; boilers inspected September 2026.”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneRoof replaced in 2021Listing says: Roof replaced in 2021; boilers inspected September 2026.
- doneUpdated kitchens in main and upper unitsListing says: The main and upper units each have an updated kitchen
- doneBoilers inspected September 2026Listing says: Roof replaced in 2021; boilers inspected September 2026.
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
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
- $675,000
- Cash to close
- $87,750
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$2,873/mo
- Cash-on-cash
- −39.3%
- Cap rate
- 2.8%
- DSCR
- 0.35×
Break-even
- Price that breaks even
- $236,328
- Rent that breaks even
- $7,409/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $3.08M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $87,750
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$3,189/mo
- Cash-on-cash
- −43.6%
- Cap rate
- 2.2%
- DSCR
- 0.28×
Break-even
- Price that breaks even
- $188,217
- Rent that breaks even
- $8,310/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $3.57M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $86,450
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$2,808/mo
- Cash-on-cash
- −39.0%
- Cap rate
- 2.8%
- DSCR
- 0.36×
Break-even
- Price that breaks even
- $236,328
- Rent that breaks even
- $7,325/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $3.00M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $86,450
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$3,123/mo
- Cash-on-cash
- −43.4%
- Cap rate
- 2.2%
- DSCR
- 0.28×
Break-even
- Price that breaks even
- $188,217
- Rent that breaks even
- $8,216/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $3.49M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $155,250
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$2,045/mo
- Cash-on-cash
- −15.8%
- Cap rate
- 2.8%
- DSCR
- 0.43×
Break-even
- Price that breaks even
- $290,845
- Rent that breaks even
- $6,346/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.97M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $155,250
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$2,360/mo
- Cash-on-cash
- −18.2%
- Cap rate
- 2.2%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $231,636
- Rent that breaks even
- $7,118/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $3.46M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $152,950
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$1,991/mo
- Cash-on-cash
- −15.6%
- Cap rate
- 2.8%
- DSCR
- 0.44×
Break-even
- Price that breaks even
- $290,845
- Rent that breaks even
- $6,278/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $2.89M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $152,950
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$2,307/mo
- Cash-on-cash
- −18.1%
- Cap rate
- 2.2%
- DSCR
- 0.35×
Break-even
- Price that breaks even
- $231,636
- Rent that breaks even
- $7,042/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $3.38M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $189,000
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$1,820/mo
- Cash-on-cash
- −11.6%
- Cap rate
- 2.8%
- DSCR
- 0.46×
Break-even
- Price that breaks even
- $310,234
- Rent that breaks even
- $6,058/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.97M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $675,000
- Cash to close
- $189,000
- Price per unit
- $337,500
- GRM
- 15.1
Each month
- Cash flow
- −$2,135/mo
- Cash-on-cash
- −13.6%
- Cap rate
- 2.2%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $247,078
- Rent that breaks even
- $6,796/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $3.46M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $186,200
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$1,770/mo
- Cash-on-cash
- −11.4%
- Cap rate
- 2.8%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $310,234
- Rent that breaks even
- $5,994/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $2.90M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $665,000
- Cash to close
- $186,200
- Price per unit
- $332,500
- GRM
- 14.9
Each month
- Cash flow
- −$2,085/mo
- Cash-on-cash
- −13.4%
- Cap rate
- 2.2%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $247,078
- Rent that breaks even
- $6,724/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $3.39M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$4,042 |
| PMI | −$380 |
| Cash flow | −$2,873 |
| Principal paid down (equity, not cash) | $514 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$4,042 |
| PMI | −$380 |
| Cash flow | −$3,189 |
| Principal paid down (equity, not cash) | $514 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$3,982 |
| PMI | −$374 |
| Cash flow | −$2,808 |
| Principal paid down (equity, not cash) | $507 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$3,982 |
| PMI | −$374 |
| Cash flow | −$3,123 |
| Principal paid down (equity, not cash) | $507 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$3,593 |
| Cash flow | −$2,045 |
| Principal paid down (equity, not cash) | $457 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$3,593 |
| Cash flow | −$2,360 |
| Principal paid down (equity, not cash) | $457 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$3,539 |
| Cash flow | −$1,991 |
| Principal paid down (equity, not cash) | $450 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$3,539 |
| Cash flow | −$2,307 |
| Principal paid down (equity, not cash) | $450 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$3,368 |
| Cash flow | −$1,820 |
| Principal paid down (equity, not cash) | $429 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$3,368 |
| Cash flow | −$2,135 |
| Principal paid down (equity, not cash) | $429 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Net operating income | $1,548 |
| Mortgage (principal + interest) | −$3,318 |
| Cash flow | −$1,770 |
| Principal paid down (equity, not cash) | $422 |
| Rent | $3,725 |
| Vacancy (6%) | −$224 |
| Collected | $3,502 |
| Property tax Public record | −$904 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$298 |
| Capital reserve (8% of rent) | −$298 |
| Property management | −$315 |
| Net operating income | $1,233 |
| Mortgage (principal + interest) | −$3,318 |
| Cash flow | −$2,085 |
| Principal paid down (equity, not cash) | $422 |
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
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $607,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $667,975
- Monthly shortfalls, invested
- $2,415,983
$87,750 put into an index fund instead of the down payment and closing costs.
$655,412 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,543,860 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $607,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $667,975
- Monthly shortfalls, invested
- $2,906,175
$87,750 put into an index fund instead of the down payment and closing costs.
$835,324 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,034,052 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $598,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $658,079
- Monthly shortfalls, invested
- $2,346,370
$86,450 put into an index fund instead of the down payment and closing costs.
$633,586 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,487,167 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $598,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $658,079
- Monthly shortfalls, invested
- $2,836,562
$86,450 put into an index fund instead of the down payment and closing costs.
$813,498 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,977,359 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $540,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,181,803
- Monthly shortfalls, invested
- $1,789,459
$155,250 put into an index fund instead of the down payment and closing costs.
$475,518 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,431,163 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $540,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,181,803
- Monthly shortfalls, invested
- $2,279,651
$155,250 put into an index fund instead of the down payment and closing costs.
$655,430 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,921,355 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $532,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,164,294
- Monthly shortfalls, invested
- $1,729,128
$152,950 put into an index fund instead of the down payment and closing costs.
$456,357 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,376,140 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $532,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,164,294
- Monthly shortfalls, invested
- $2,219,319
$152,950 put into an index fund instead of the down payment and closing costs.
$636,269 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,866,332 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $506,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,438,716
- Monthly shortfalls, invested
- $1,534,937
$189,000 put into an index fund instead of the down payment and closing costs.
$394,684 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,433,555 ahead after 30 years.
- Your equity when you sell
- $1,540,098
- Rental profits, invested at 7%
- $0
Sells for $1,638,402 (value up 3% a year), minus 6% selling cost ($98,304). Rent paid down $506,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,438,716
- Monthly shortfalls, invested
- $2,025,128
$189,000 put into an index fund instead of the down payment and closing costs.
$574,596 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,923,747 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $498,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,417,402
- Monthly shortfalls, invested
- $1,478,376
$186,200 put into an index fund instead of the down payment and closing costs.
$376,721 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,378,496 ahead after 30 years.
- Your equity when you sell
- $1,517,282
- Rental profits, invested at 7%
- $0
Sells for $1,614,130 (value up 3% a year), minus 6% selling cost ($96,848). Rent paid down $498,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,417,402
- Monthly shortfalls, invested
- $1,968,568
$186,200 put into an index fund instead of the down payment and closing costs.
$556,633 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,868,688 ahead after 30 years.
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
Year 30 (loan paid off): property $1.54M, stocks $3.08M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $3.57M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $3.00M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $3.49M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.97M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $3.46M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $2.89M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $3.38M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.97M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $3.46M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $2.90M. Stocks win.
Year 30 (loan paid off): property $1.52M, stocks $3.39M. Stocks win.
Comparable rentals
The closest rental listings with each unit's bedroom count, as of 2026-10-06. 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 $2,025/mo · range $1,825–$2,675 · 10 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 4429 Nicollet Ave, Minneapolis | $1,999 | 3 / 1 | 0.6 mi |
| 3333 Nicollet Ave Unit B, Minneapolis | $2,499 | 3 / 2 | 0.8 mi |
| 3520 Dupont Level Ave S Unit Lower, Minneapolis | $2,595 | 3 / 1 | 0.9 mi |
| 3336 4th Ave S Apt 4, Minneapolis | $1,595 | 3 / 1 | 0.9 mi |
| 3336 4th Ave S Apt 2, Minneapolis | $1,795 | 3 / 1 | 0.9 mi |
| 3208 Blaisdell Ave Apt 3, Minneapolis | $1,750 | 3 / 1 | 0.9 mi |
| 705 W 31st St, Minneapolis | $1,775 | 3 / 1 | 1.2 mi |
| 3552 Irving Ave S, Minneapolis | $2,795 | 3 / 2 | 1.2 mi |
| 3229 Hennepin Ave S, Minneapolis | $2,395 | 3 / 1 | 1.3 mi |
| 2821 1st Ave S, Minneapolis | $1,600 | 3 / 1 | 1.4 mi |
2 bed estimate $1,700/mo · range $1,500–$2,350 · 15 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 4201 Nicollet Ave S, Minneapolis | $2,395 | 2 / 2 | 0.3 mi |
| 4200 1st Ave S, Minneapolis | $1,399 | 2 / 1 | 0.3 mi |
| 4222 Nicollet Ave, Minneapolis | $2,445 | 2 / 2 | 0.3 mi |
| 3721 Grand Ave S Unit 2, Minneapolis | $1,600 | 2 / 1 | 0.4 mi |
| 3721 Grand Ave S Unit 1, Minneapolis | $1,600 | 2 / 1 | 0.4 mi |
| 3648 Blaisdell Ave Apt 2, Minneapolis | $1,595 | 2 / — | 0.4 mi |
| 3700 Grand Ave S, Minneapolis | $1,275 | 2 / 1 | 0.4 mi |
| 3536 Nicollet Ave, Minneapolis | $2,595 | 2 / 2 | 0.6 mi |
| 3535-3537 Harriet Ave, Minneapolis | $2,225 | 2 / 1 | 0.6 mi |
| 3520 Grand Ave S, Minneapolis | $1,225 | 2 / 1 | 0.6 mi |
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
- highLower-level unit is non-conforming, so it likely can't be legally rented. The license covers only 2 units. Listing says: a non-conforming lower-level unit · AI review
- mediumAsking is $384,155 above the price where cash flow breaks even ($290,845) at the default scenario. Based on: Derived: price $675,000 vs. break-even $290,845
- mediumProperty tax is about $10,852 on a non-homestead basis, a heavy drag on cash flow at this price. Based on: data: county.tax · AI review
- mediumNo rents or lease details are given, so income is unverified. Based on: data: rent_estimate · AI review
- lowInterstate 35W is about 400 meters away, which may mean noise and could affect rentability. Based on: data: highway.distance_m · AI review
Opportunities
- The seller bought for $290,000 in Dec 2008, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1002824210158: last sale 2008-12-01, $290,000
- Owner-occupy one unit and rent the other to offset the cost of owning. Listing says: Live in one unit and rent the other, or hold the property as an investment. · AI review
- Minneapolis has no rent cap, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review
- Updated kitchens and a 2021 roof limit near-term capital needs. Listing says: Roof replaced in 2021; boilers inspected September 2026. · AI review
Questions for the agent
- What are the current rents and lease terms for each unit, and can I see the rent roll?
- Is the lower-level unit permitted, and has it ever been rented? Is it on the rental license?
- Are there separate boilers and meters for each unit? Who pays heat, water and electric?
- How old are the boilers, electrical panels and plumbing? What did the September inspection find?
- Why is the seller selling, and is there any room on price given the 2008 purchase at $290K?
Bottom line
A well-kept King Field duplex that only works as an owner-occupant purchase; as a pure rental, $675K is far above what the rents support. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $10,852 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,678 |
| 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% |
Price history Realtor.com
On the market since 2026-06-29 (98 days, relisted 1×); last sold for $421,000 on 2007-01-31.
| Date | Event | Price |
|---|---|---|
| Removed | $675,000 | |
| Listed | $675,000 | |
| Removed | $675,000 | |
| Listed | $675,000 | |
| Removed | $650,000 | |
| Removed | $650,000 | |
| Sold public record | $421,000 | |
| Sold public record | $330,000 | |
| Sold public record | $140,000 | |
| Sold public record | $115,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1925 |
| Market value (2026) | $571,400 |
| Property tax | $10,852 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2008-12-01 · $290,000 |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 35W, about 411 m away.
Crime in King Field
286 incidents in the last 12 months (37 per 1,000 residents), −9% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).