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1007 19th Ave NE

Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 1,800 sq ft

Minneapolis, MN · Windom Park · View the listing ↗

Cash flows
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Photos courtesy of Coldwell Banker Burnet White B - Broker, via Realtor.com.

Asking price
$424,000
2 units · $212K per unit
Monthly cash flow
$27
at 20% down, 7%
Estimated rent
$3,850/mo
low confidence · 7 rentals within 0.75 mi
Break-even price
$429,019
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a flipped duplex asking $424K after a $163K purchase 14 months ago. Our numbers say it makes about $27 a month at the asking price with 20% down, with a 6.5% cap rate. Break-even price is about $429K, so the ask is roughly $5K below break-even on our rents of $1,925 per 3-bed. The finishes look clean in the photos, but cosmetic work can hide problems, so check permits for the electrical, plumbing and HVAC the listing claims. The tax delinquency and missing rental license need answers before anything else. Worth a showing, but cash flow is thin, so any surprise cost erases it.

Things to consider

  1. Price is roughly in line with what the rents support At asking, cash flow is about $27 a month and break-even is near $429K. The margin is thin, so a price cut would add cushion.
  2. Flip economics: bought for $163K, asking $424K Renovation quality matters more than the finish. Unpermitted work could cause insurance, inspection or resale issues.
  3. Delinquent taxes and no rental license on file Back taxes and penalties come out of the deal, and an unlicensed rental can delay legal rental income.
  4. Separate utilities help operating costs Separate furnaces and water heaters let tenants pay their own utilities, which keeps owner expenses low.Listing says: “separate furnace, and separate water heater, allowing for independent utilities and low-maintenance ownership”
  5. Rent estimates are mid-range for 3-beds Two 3-beds at about $1,925 each gross roughly $46,200 a year, which just about carries a $424K price at today's rates.

From the photos

Listing photo 1
1 of 7Plus

Exterior appears to have newer vinyl siding and windows, consistent with the listing; roof shingles look in decent shape from the street

Listing photo 5
2 of 7Plus

Kitchen appears fully new: shaker cabinets, stone-look counters, tile backsplash and stainless appliances

Listing photo 6
3 of 7Plus

In-unit stacked washer and dryer is in a kitchen closet

Listing photo 9
4 of 7Plus

Both baths appear newly tiled with new vanities

Listing photo 8
5 of 7Check

Sunroom area appears to be heated by an electric baseboard heater, unlike the forced-air in the rest of the unit; check the cost and whether it is permitted as living space

Listing photo 4
6 of 7Check

Vinyl plank flooring and recessed lights look new, but only one unit appears to be shown; confirm the other unit is in the same condition

Listing photo 1
7 of 7Check

No photos of the basement, furnaces, water heaters, electrical panels or roof up close, so the claimed new systems are unverified

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

  • doneUpstairs unit renovated down to the studsListing says: Upstairs unit was renovated down to the studs.
  • doneNew plumbing, HVAC and electricalListing says: New Plumbing, HVAC, Electrical, New Siding and Windows.
  • doneNew siding and windowsListing says: New Plumbing, HVAC, Electrical, New Siding and Windows.

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

Down payment %
Offer $
Management
Interest rate %
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
$424,000
Cash to close
$97,520
Price per unit
$212,000
GRM
9.2

Each month

Cash flow
$27/mo
Cash-on-cash
0.3%
Cap rate
6.5%
DSCR
1.01×

Break-even

Price that breaks even
$429,019
Rent that breaks even
$3,816/mo

Long run

Year 30: property vs stocks
$1.89M vs $742K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$3,850
Vacancy (6%)−$231
Collected$3,619
Property tax Listing−$322
Insurance Estimate−$206
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (7% of rent)−$270
Capital reserve (8% of rent)−$308
Net operating income$2,283
Mortgage (principal + interest)−$2,257
Cash flow$27
Principal paid down (equity, not cash)$287

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

If you buy this building$1,891,405
Your equity when you sell
$967,409

Sells for $1,029,159 (value up 3% a year), minus 6% selling cost ($61,750). Rent paid down $339,200 of loan.

Rental profits, invested at 7%
$923,996

$454,382 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$742,347
Cash to close, invested at 7%
$742,347

$97,520 put into an index fund instead of the down payment and closing costs.

The building comes out $1,149,058 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

This propertyStocks at 7%

Year 30 (loan paid off): property $1.89M, stocks $742K. The property wins.

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 $1,925/mo · range $1,825–$2,250 · 7 rentals within 0.75 mi

AddressRentBd / BaSq ftDistanceListedType
1709 Fillmore St NE, Minneapolis $2,099 3 / 1 1,350 0.3 mi 2026-08-04 Apartment
920 24th Ave NE, Minneapolis $2,388 3 / 1 1,223 0.3 mi 2026-07-21 Apartment
1460 Van Buren St NE, Minneapolis $1,570 3 / 1.5 1,154 0.4 mi 2026-07-30 Apartment
1322 Central Ave NE Unit 1, Minneapolis $1,800 3 / 1 1,150 0.5 mi 2026-09-10 Duplex triplex
2318 Jefferson St NE, Minneapolis $1,715 3 / 1.5 — 0.6 mi 2025-11-06 Apartment
1622 Washington St NE, Minneapolis $1,795 3 / 1 1,200 0.7 mi 2026-09-21 Apartment
742 Buchanan St NE, Minneapolis $1,700 3 / 1 — 0.7 mi 2026-04-02 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

  • highProperty taxes have been delinquent since 2025. Expect penalties and a payoff at closing; ask why. Public record: Hennepin County parcel 1202924330168: earliest delinquent year=25
  • highPrice jumped far above the recent purchase; the renovation spend and permits need proof Based on: data: county.last_sale_price · AI review
  • highAt asking price the deal loses money every month even with 20% down Based on: data: underwriting.cash_flow_monthly · AI review
  • mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 1007 19TH AVE N E
  • mediumBought for $163,000 in Aug 2025; asking is 160% more 14 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 1202924330168: last sale 2025-08-01, $163,000
  • mediumRenovation claims are broad; verify permits and who did the work, since flips can be cosmetic Listing says: Upstairs unit was renovated down to the studs. New Plumbing, HVAC, Electrical, New Siding and Windows. · AI review
  • low$220 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 1202924330168: special assessments (current) = $219.83
  • low65 days on market suggests the price is meeting resistance Based on: data: listing.days_on_market · AI review

Opportunities

  • No rent cap in Minneapolis, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
  • Two 3-bed units suit families and owner-occupants, which widens the buyer and tenant pool Listing says: Each spacious unit features 3 bedrooms and 1 full bathroom · AI review

Questions for the agent

  • What was spent on the renovation, and can you share the permits for electrical, plumbing and HVAC?
  • Why are the property taxes delinquent, and are they paid off at closing?
  • Is the building licensed as a rental in Minneapolis, and has it passed inspection?
  • What are the special assessments for, and do they continue?
  • Are there current tenants or signed leases, and at what rents?
  • Will the seller consider a price closer to $350K given the time on market?

Bottom line

Clean flip, and at $424K it roughly breaks even monthly and sits about $5K below our break-even price, so verify permits, taxes and licensing before you proceed. AI-assisted summary

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.$3,862
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,475
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; "fully renovated" in the description: -1 pts each7% / 8%

Price history Realtor.com

On the market since 2026-07-29 (68 days); down $25,000 (5.6%) from the first ask of $449,000; last sold for $163,000 on 2025-11-05.

DateEventPrice
Price changed$424,000
Price changed$439,000
Listed$449,000
Sold public record$163,000
Sold$163,000
Sold public record$84,476
Sold$262,500
Listed$280,000
Sold public record$70,100

County record Public record

Recorded asduplex
Living units2
Year built1900
Market value (2026)$283,100
Property tax$4,086
Special assessments$220
Homesteadno
Taxes delinquent since25
Last sale2025-08-01 · $163,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 35W, about 1007 m away.

Crime in Windom Park

192 incidents in the last 12 months (34 per 1,000 residents), +39% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).