Minneapolis › Como

1097 22nd Ave SE

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 1,948 sq ft

Minneapolis, MN · Como · View the listing ↗

Far off

26 photos

Photos, via Realtor.com.

Asking price: $399,000
Monthly cash flow: −$850
Estimated rent: $2,875/mo
Break-even price: $239,217

Adjust the numbers See the full breakdown

First look

This is a thin listing with a thick price. The only hard fact is a lease running through August 2027, and no rents are given, so the income is unverified. Our estimates put the two units around $1,575 and $1,300, and at $399K that works out to about -$850/month and a 3.8% cap rate. Break-even is near $239K, so the ask is far too high at today's rates. The seller paid $734K in 2019 and county value is $346,700, so expect a seller anchored to an old number. Photos show an older, worn building with original-style kitchens and baths. Only worth a showing if the price comes down a lot and the rent roll holds up.

Things to consider

Price doesn't fit the numbers Underwriting shows negative cash flow of about $850/month and a 3.8% cap rate at asking. Break-even is far below ask.
Rents are unknown The listing gives no rents, so the income is unverified. Our estimates are only estimates.
Lease through 2027 gives stability but may cap upside Tenants are locked in, which helps vacancy risk. But if the rents are below market you can't raise them until it ends.Listing says: “This duplex is already leased through August 25, 2027, providing immediate rental income.”
Taxes will be high for an investor The non-homestead tax bill is about $6,584 a year, which weighs heavily on cash flow.
Dated interiors mean capex Kitchens and baths look original, so budget for updates and reserves.From photo 9
Possible portfolio sale Seller has other properties, so there may be room to negotiate or get a full set of financials.Listing says: “Seller owns additional investment properties.”

From the photos

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

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: $399,000
Cash to close: $91,770
Price per unit: $199,500
GRM: 11.6

Each month

Cash flow: −$850/mo
Cash-on-cash: −11.1%
Cap rate: 3.8%
DSCR: 0.60×

Break-even

Price that breaks even: $239,217
Rent that breaks even: $3,965/mo

Long run

Year 30: property vs stocks: $948K vs $1.25M
Cash flow turns positive: year 22

Monthly

Monthly breakdown

Rent	$2,875
Vacancy (6%)	−$172
Collected	$2,702
Property tax Public record	−$549
Insurance Estimate	−$191
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$230
Capital reserve (8% of rent)	−$230
Net operating income	$1,273
Mortgage (principal + interest)	−$2,124
Cash flow	−$850
Principal paid down (equity, not cash)	$270

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$947,564

Your equity when you sell: $910,369
Rental profits, invested at 7%: $37,195

Same money in stocks$1,251,765

Cash to close, invested at 7%: $698,577
Monthly shortfalls, invested: $553,188

Stocks come out $304,201 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 $948K, stocks $1.25M. 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 $1,575/mo · range $1,575–$1,800 · 8 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1075 24th Ave SE, Minneapolis	$1,500	3 / 1	—	0.1 mi	2025-01-13	Apartment
925-27 22nd Ave SE, Minneapolis	$1,500	3 / 1	—	0.2 mi	2024-04-28	Apartment
1109 17th Ave SE, Minneapolis	$1,795	3 / 1.5	1,700	0.3 mi	2024-09-27	Apartment
1114-16 14th Ave SE, Minneapolis	$1,500	3 / 1	—	0.3 mi	2026-09-29	Apartment
1095 15th Ave SE, Minneapolis	$1,500	3 / 1	—	0.5 mi	2025-05-13	Apartment
799 Weeks Ave SE, Minneapolis	$1,750	3 / 1	1,100	0.6 mi	—	Apartment
1109 13th Ave SE, Minneapolis	$1,500	3 / 1	—	0.6 mi	2025-10-09	Apartment
1062 11th Ave SE, Minneapolis	$1,600	3 / 1	—	0.7 mi	2026-04-15	Apartment

2 bed estimate $1,300/mo · range $1,150–$1,725 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1099 15th Ave SE, Minneapolis	$1,300	2 / 1	—	0.5 mi	2024-07-26	Apartment
1034 14th Ave SE Unit 2, Minneapolis	$1,650	2 / 1	975	0.5 mi	—	Apartment
1313 Como Ave SE Apt 103, Minneapolis	$1,645	2 / 1	1,100	0.6 mi	2025-12-03	Apartment
1201 Brook Ave SE, Minneapolis	$1,080	2 / 2	—	0.7 mi	2026-07-17	Apartment
1082 11th Ave SE, Minneapolis	$1,100	2 / 1	—	0.7 mi	2025-10-10	Apartment
919 12th Ave SE, Minneapolis	$1,200	2 / 1	—	0.7 mi	2026-07-13	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

highNo rents, lease terms or expenses given. The income is unverified. Listing says: This duplex is already leased through August 25, 2027, providing immediate rental income. · AI review
highPrice is far above the county value and the 2019 sale price shows a seller anchored high. Based on: data: county.market_value · AI review
mediumAsking is $159,783 above the price where cash flow breaks even ($239,217) at the default scenario. Based on: Derived: price $399,000 vs. break-even $239,217
mediumKitchens and baths appear dated, with older fixtures. Expect updates before a rent push. Based on: photo 6 · AI review
low$98 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 1902923210004: special assessments (current) = $97.53
lowSeller owns other investment properties, so this may be a portfolio sale. Get the full financials. Listing says: Seller owns additional investment properties. · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 154 days on market
Near the University of Minnesota, so student and staff demand should be steady. Listing says: Ideally located near the University of Minnesota, this property is well positioned for consistent tenant demand. · AI review
151 days on market gives room to negotiate hard. Based on: data: listing.days_on_market · AI review
Minneapolis has no rent cap, so rents can follow the market after a refresh. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What are the current rents for each unit, and can I see the leases and rent roll?
Who pays heat, water and electric? How many meters and furnaces are there?
Are the tenants students, and when do the leases end? Is there a lease-end date for each unit?
Why has it sat 151 days, and has the price been cut?
What are the ages of the roof, furnace, water heaters and electrical panels?
What are the special assessments for, and does the seller pay them at closing?

Bottom line

Pricing is way above what these rents can carry, so only consider it near the low-$200Ks and after seeing the real rent roll. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$6,584
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,287
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 2026-05-04 (154 days, relisted 1×); last sold for $734,000 on 2020-01-07.

Date	Event	Price
2026-09-30	Relisted	$399,000
2026-08-18	Removed	$399,000
2026-05-04	Listed	$399,000
2020-01-07	Sold public record	$734,000
2014-09-11	Sold public record	$3,380,550
2002-06-27	Sold public record	$43,817
1995-05-03	Sold public record	$68,300

County record Public record

Recorded as	duplex
Living units	2
Year built	1922
Market value (2026)	$346,700
Property tax	$6,584
Special assessments	$98
Homestead	no
Last sale	2019-12-01 · $734,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 35W, about 1090 m away.

Crime in Como

409 incidents in the last 12 months (60 per 1,000 residents), +30% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).