1300 Grand St NE
Triplex · 3 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath unit split estimated · 3,313 sq ft
Minneapolis, MN · Sheridan · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $500,000 3 units · $167K per unit
- Monthly cash flow
- $371 at 20% down, 7%
- Estimated rent
- $5,350/mo low confidence
- Break-even price
- $569,719 where cash flow hits $0
First look
This is a vacant, partly renovated Northeast Minneapolis triplex asking $500K. Our estimate is about $5,350/mo at mid rents, and it makes roughly $371/mo at 20% down, with break-even near $570K. The seller paid $398K in 2022 and the county values it at $351K, so the ask looks well ahead of county and past sale figures, though the numbers work. Nothing is rented, so there is no rent roll to lean on, and the third-floor unit still needs work. Check the age of the boiler and the wiring first, then ask why a 30-day-old listing is vacant. Worth a showing if the rents hold up.
Things to consider
- Price is below break-even on estimates At the ask the property makes about $371/mo at 20% down, and break-even is about $70K higher. The deal depends on the rent estimates holding up.
- Seller paid far less in 2022 The 2022 sale and county value give a sense of where the market sat. A $500K ask implies a big gain after limited renovation.
- Rents are unproven With all units vacant, you rely on our estimates, and a lease-up period costs income before rent starts.Listing says: “All Units are vacant, providing flexibility for an owner-occupant opportunity or the ability to lease at market rates.”
- Unit 3 budget The third-floor unit still needs kitchen and bath work, and that cost is on top of the price before rents rise.Listing says: “Unit 3 offers strong value-add potential for investors looking to further increase rents and build equity through renovation.”
- Tax bill is non-homestead and significant Taxes of about $6,670 are a large expense, and the county market value is far below ask, so a purchase could trigger a reassessment.
- Roof is new A new roof in 2026 cuts a major near-term cost, so ask for the invoice and warranty.Listing says: “new roof in 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
- neededUnit 3 needs renovation to raise rentsListing says: Unit 3 offers strong value-add potential for investors looking to further increase rents and build equity through renovation.
- doneNew roofListing says: new roof in 2026
- doneUnits 1 and 2 renovated: kitchens, baths, flooring, paint, mechanicalsListing says: Units 1 and 2 have been extensively renovated with updated kitchens and bathrooms, new flooring, fresh paint, and mechanical improvements.
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
- $500,000
- Cash to close
- $65,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- −$243/mo
- Cash-on-cash
- −4.5%
- Cap rate
- 7.3%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $462,928
- Rent that breaks even
- $5,657/mo
Long run
- Year 30: property vs stocks
- $2.31M vs $533K
- Cash flow turns positive
- year 4
The deal
- Price
- $500,000
- Cash to close
- $65,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- −$695/mo
- Cash-on-cash
- −12.8%
- Cap rate
- 6.2%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $393,830
- Rent that breaks even
- $6,336/mo
Long run
- Year 30: property vs stocks
- $1.76M vs $688K
- Cash flow turns positive
- year 7
The deal
- Price
- $490,000
- Cash to close
- $63,700
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- −$177/mo
- Cash-on-cash
- −3.3%
- Cap rate
- 7.4%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $462,928
- Rent that breaks even
- $5,574/mo
Long run
- Year 30: property vs stocks
- $2.34M vs $508K
- Cash flow turns positive
- year 4
The deal
- Price
- $490,000
- Cash to close
- $63,700
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- −$630/mo
- Cash-on-cash
- −11.9%
- Cap rate
- 6.3%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $393,830
- Rent that breaks even
- $6,243/mo
Long run
- Year 30: property vs stocks
- $1.78M vs $652K
- Cash flow turns positive
- year 6
The deal
- Price
- $500,000
- Cash to close
- $115,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- $371/mo
- Cash-on-cash
- 3.9%
- Cap rate
- 7.3%
- DSCR
- 1.14×
Break-even
- Price that breaks even
- $569,719
- Rent that breaks even
- $4,880/mo
Long run
- Year 30: property vs stocks
- $2.73M vs $875K
- Cash flow turns positive
- year 1
The deal
- Price
- $500,000
- Cash to close
- $115,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- −$82/mo
- Cash-on-cash
- −0.9%
- Cap rate
- 6.2%
- DSCR
- 0.97×
Break-even
- Price that breaks even
- $484,680
- Rent that breaks even
- $5,466/mo
Long run
- Year 30: property vs stocks
- $2.03M vs $883K
- Cash flow turns positive
- year 3
The deal
- Price
- $490,000
- Cash to close
- $112,700
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- $424/mo
- Cash-on-cash
- 4.5%
- Cap rate
- 7.4%
- DSCR
- 1.16×
Break-even
- Price that breaks even
- $569,719
- Rent that breaks even
- $4,813/mo
Long run
- Year 30: property vs stocks
- $2.77M vs $858K
- Cash flow turns positive
- year 1
The deal
- Price
- $490,000
- Cash to close
- $112,700
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- −$28/mo
- Cash-on-cash
- −0.3%
- Cap rate
- 6.3%
- DSCR
- 0.99×
Break-even
- Price that breaks even
- $484,680
- Rent that breaks even
- $5,390/mo
Long run
- Year 30: property vs stocks
- $2.07M vs $860K
- Cash flow turns positive
- year 2
The deal
- Price
- $500,000
- Cash to close
- $140,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- $537/mo
- Cash-on-cash
- 4.6%
- Cap rate
- 7.3%
- DSCR
- 1.22×
Break-even
- Price that breaks even
- $607,700
- Rent that breaks even
- $4,670/mo
Long run
- Year 30: property vs stocks
- $2.92M vs $1.07M
- Cash flow turns positive
- year 1
The deal
- Price
- $500,000
- Cash to close
- $140,000
- Price per unit
- $166,667
- GRM
- 7.8
Each month
- Cash flow
- $85/mo
- Cash-on-cash
- 0.7%
- Cap rate
- 6.2%
- DSCR
- 1.03×
Break-even
- Price that breaks even
- $516,992
- Rent that breaks even
- $5,230/mo
Long run
- Year 30: property vs stocks
- $2.22M vs $1.07M
- Cash flow turns positive
- year 1
The deal
- Price
- $490,000
- Cash to close
- $137,200
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- $587/mo
- Cash-on-cash
- 5.1%
- Cap rate
- 7.4%
- DSCR
- 1.24×
Break-even
- Price that breaks even
- $607,700
- Rent that breaks even
- $4,607/mo
Long run
- Year 30: property vs stocks
- $2.95M vs $1.04M
- Cash flow turns positive
- year 1
The deal
- Price
- $490,000
- Cash to close
- $137,200
- Price per unit
- $163,333
- GRM
- 7.6
Each month
- Cash flow
- $135/mo
- Cash-on-cash
- 1.2%
- Cap rate
- 6.3%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $516,992
- Rent that breaks even
- $5,159/mo
Long run
- Year 30: property vs stocks
- $2.25M vs $1.04M
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,994 |
| PMI | −$281 |
| Cash flow | −$243 |
| Principal paid down (equity, not cash) | $381 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,994 |
| PMI | −$281 |
| Cash flow | −$695 |
| Principal paid down (equity, not cash) | $381 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,934 |
| PMI | −$276 |
| Cash flow | −$177 |
| Principal paid down (equity, not cash) | $373 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,934 |
| PMI | −$276 |
| Cash flow | −$630 |
| Principal paid down (equity, not cash) | $373 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,661 |
| Cash flow | $371 |
| Principal paid down (equity, not cash) | $339 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,661 |
| Cash flow | −$82 |
| Principal paid down (equity, not cash) | $339 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,608 |
| Cash flow | $424 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,608 |
| Cash flow | −$28 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,495 |
| Cash flow | $537 |
| Principal paid down (equity, not cash) | $317 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,495 |
| Cash flow | $85 |
| Principal paid down (equity, not cash) | $317 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Net operating income | $3,032 |
| Mortgage (principal + interest) | −$2,445 |
| Cash flow | $587 |
| Principal paid down (equity, not cash) | $311 |
| Rent | $5,350 |
| Vacancy (6%) | −$321 |
| Collected | $5,029 |
| Property tax Public record | −$556 |
| Insurance Estimate | −$323 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$375 |
| Capital reserve (8% of rent) | −$428 |
| Property management | −$453 |
| Net operating income | $2,580 |
| Mortgage (principal + interest) | −$2,445 |
| Cash flow | $135 |
| Principal paid down (equity, not cash) | $311 |
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
- $1,140,813
- Rental profits, invested at 7%
- $1,164,662
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $450,000 of loan.
$587,509 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $494,797
- Monthly shortfalls, invested
- $38,580
$65,000 put into an index fund instead of the down payment and closing costs.
$5,654 you'd have paid in while the building lost money, invested instead.
The building comes out $1,772,099 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $615,261
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $450,000 of loan.
$353,451 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $494,797
- Monthly shortfalls, invested
- $193,213
$65,000 put into an index fund instead of the down payment and closing costs.
$29,993 you'd have paid in while the building lost money, invested instead.
The building comes out $1,068,065 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $1,218,572
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $441,000 of loan.
$606,977 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $484,901
- Monthly shortfalls, invested
- $22,877
$63,700 put into an index fund instead of the down payment and closing costs.
$3,296 you'd have paid in while the building lost money, invested instead.
The building comes out $1,828,791 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $658,440
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $441,000 of loan.
$370,967 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $484,901
- Monthly shortfalls, invested
- $166,779
$63,700 put into an index fund instead of the down payment and closing costs.
$25,683 you'd have paid in while the building lost money, invested instead.
The building comes out $1,124,757 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $1,590,174
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $400,000 of loan.
$715,110 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $875,409
$115,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,855,578 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $893,908
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $400,000 of loan.
$457,812 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $875,409
- Monthly shortfalls, invested
- $7,768
$115,000 put into an index fund instead of the down payment and closing costs.
$1,100 you'd have paid in while the building lost money, invested instead.
The building comes out $1,151,544 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $1,650,505
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $392,000 of loan.
$734,270 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $857,901
$112,700 put into an index fund instead of the down payment and closing costs.
The building comes out $1,910,601 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $948,888
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $392,000 of loan.
$476,213 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $857,901
- Monthly shortfalls, invested
- $2,417
$112,700 put into an index fund instead of the down payment and closing costs.
$340 you'd have paid in while the building lost money, invested instead.
The building comes out $1,206,567 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $1,778,709
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $375,000 of loan.
$774,987 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,065,716
$140,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,853,806 ahead after 30 years.
- Your equity when you sell
- $1,140,813
- Rental profits, invested at 7%
- $1,074,675
Sells for $1,213,631 (value up 3% a year), minus 6% selling cost ($72,818). Rent paid down $375,000 of loan.
$516,590 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,065,716
$140,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,149,772 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $1,835,269
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $367,500 of loan.
$792,950 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,044,401
$137,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,908,865 ahead after 30 years.
- Your equity when you sell
- $1,117,997
- Rental profits, invested at 7%
- $1,131,236
Sells for $1,189,359 (value up 3% a year), minus 6% selling cost ($71,362). Rent paid down $367,500 of loan.
$534,553 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,044,401
$137,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,204,832 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 $2.31M, stocks $533K. The property wins.
Year 30 (loan paid off): property $1.76M, stocks $688K. The property wins.
Year 30 (loan paid off): property $2.34M, stocks $508K. The property wins.
Year 30 (loan paid off): property $1.78M, stocks $652K. The property wins.
Year 30 (loan paid off): property $2.73M, stocks $875K. The property wins.
Year 30 (loan paid off): property $2.03M, stocks $883K. The property wins.
Year 30 (loan paid off): property $2.77M, stocks $858K. The property wins.
Year 30 (loan paid off): property $2.07M, stocks $860K. The property wins.
Year 30 (loan paid off): property $2.92M, stocks $1.07M. The property wins.
Year 30 (loan paid off): property $2.22M, stocks $1.07M. The property wins.
Year 30 (loan paid off): property $2.95M, stocks $1.04M. The property wins.
Year 30 (loan paid off): property $2.25M, stocks $1.04M. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
2 bed / 1 bath estimate $1,825/mo · range $1,625–$2,000
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1929 Grand St NE, Minneapolis 55418 off market | $1,500 | 2 / 1 | 0.5 mi | 93% |
| 1923 University Ave NE, Minneapolis 55418 off market | $1,475 | 2 / 1 | 0.6 mi | 93% |
| 1704 Jefferson St NE, Units 2 & 655, Minneapoli… off market | $1,550 | 2 / 1 | 0.7 mi | 93% |
| 314 13th Ave NE, Minneapolis 55413 off market | $1,360 | 1 / 1 | 0.2 mi | 84% |
| 524 8th Ave NE, Minneapolis 55413 off market | $1,645 | 2 / 1 | 0.6 mi | 84% |
| 1401 3rd St NE, Apt 3, Minneapolis 55413 off market | $1,650 | 2 / 1 | 0.3 mi | 84% |
| 1401 3rd St NE, Apt 1, Minneapolis 55413 off market | $1,650 | 2 / 1 | 0.3 mi | 84% |
| 1903 3rd St NE, Minneapolis 55418 off market | $1,200 | 1 / 1 | 0.5 mi | 84% |
| 601 Main St NE, Apt 3, Minneapolis 55413 off market | $1,795 | 3 / 1 | 0.6 mi | 84% |
| 1115 1/2 4th St NE, Minneapolis 55413 off market | $1,199 | 1 / 1 | 0.6 mi | 84% |
1 bed / 1 bath estimate $1,700/mo · range $1,650–$1,700
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 314 13th Ave NE, Minneapolis 55413 off market | $1,360 | 1 / 1 | 0.2 mi | 94% |
| 1903 3rd St NE, Minneapolis 55418 off market | $1,200 | 1 / 1 | 0.5 mi | 93% |
| 1115 1/2 4th St NE, Minneapolis 55413 off market | $1,199 | 1 / 1 | 0.6 mi | 93% |
| 1929 Grand St NE, Minneapolis 55418 off market | $1,500 | 2 / 1 | 0.5 mi | 84% |
| 1923 University Ave NE, Minneapolis 55418 off market | $1,475 | 2 / 1 | 0.6 mi | 84% |
| 1704 Jefferson St NE, Units 2 & 655, Minneapoli… off market | $1,550 | 2 / 1 | 0.7 mi | 83% |
| 136 14th Ave NE, Minneapolis 55413 off market | $1,599 | 1 / 1 | 0.1 mi | 83% |
| 170 15th Ave NE, Minneapolis 55413 off market | $1,415 | 1 / 1 | 0.2 mi | 83% |
| 1215 Marshall St NE, Minneapolis 55413 | $1,955 | 1 / 1 | 0.0 mi | 82% |
| 438 University Ave NE, Apt 2, Minneapolis 55413 off market | $1,450 | 1 / 1 | 0.7 mi | 82% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- highAsk is far above the last sale and county value Based on: data: county.last_sale_price · AI review
- mediumRental license Tier 2: the city has flagged more violations than typical; expect more frequent inspections and repair orders. Public record: Minneapolis Active Rental Licenses: 1300 GRAND ST NE, grade/tier=Tier 2, status=Active
- mediumAll units vacant: no rent history, and rents are unproven Listing says: All Units are vacant, providing flexibility for an owner-occupant opportunity or the ability to lease at market rates. · AI review
- mediumUnit 3 appears unrenovated, with older carpet and original-looking trim Based on: photo 6 · AI review
- mediumHot-water radiator heat on a 1900 building: boiler age is unknown and may be a single system serving all units Based on: data: county.heat_type · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 33 days on market, 2 price cuts
- Renovate Unit 3 and lease at market, with no tenants to relocate Listing says: Unit 3 offers strong value-add potential for investors looking to further increase rents and build equity through renovation. · AI review
- No rent cap in Minneapolis, so rents can rise after a refresh Based on: data: underwriting.rent_rule · AI review
- Owner-occupy one unit to improve financing and lower the carrying cost Listing says: providing flexibility for an owner-occupant opportunity · AI review
Questions for the agent
- Why is the building vacant, and when did the last tenants leave and at what rents?
- Who did the renovations, were permits pulled, and what was the cost?
- How old is the boiler, and is heat one system or separate per unit?
- What is the wiring and panel situation in each unit?
- What caused the Tier 2 rental license rating, and are there open violations or orders?
- Is the seller open to a price near the $398K paid in 2022?
Bottom line
Pretty and mostly updated, and $500K is below break-even on our rent estimates, so it can work if the rents prove out. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $6,670 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,881 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $255 |
| 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 updated" in the description: -1 pts each | 7% / 8% |
Price history Realtor.com
On the market since 2026-04-29 (159 days, relisted 1×); down $100,000 (16.7%) from the first ask of $600,000; last sold for $398,000 on 2022-05-10.
| Date | Event | Price |
|---|---|---|
| Listed | $500,000 | |
| Removed | $550,000 | |
| Price changed | $550,000 | |
| Relisted | $575,000 | |
| Removed | — | |
| Removed | $600,000 | |
| Listed | $575,000 | |
| Removed | — | |
| Listed | $600,000 | |
| Sold public record | $398,000 | |
| Sold public record | $290,000 |
County record Public record
| Recorded as | triplex |
| Living units | 3 |
| Year built | 1900 |
| Market value (2026) | $351,200 |
| Property tax | $6,670 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2022-05-01 · $398,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 3 unit(s), Tier 2, status active, renews 2027-03-01.
Nearest highway
I 94, about 1070 m away.
Crime in Sheridan
160 incidents in the last 12 months (48 per 1,000 residents), −4% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).