1318 Thomas Ave N
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,613 sq ft
Minneapolis, MN · Willard - Hay · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $284,900 2 units · $142K per unit
- Monthly cash flow
- $55 at 20% down, 7%
- Estimated rent
- $3,100/mo medium confidence
- Break-even price
- $295,188 where cash flow hits $0
First look
This is a 1969 side-by-side in North Minneapolis asking $284,900, and at that price it roughly breaks even. Our underwriting shows about +$55 a month at 20% down, with a 6.6% cap rate and a break-even price near $295,200. The description is thin: no rents, no lease terms, no utilities, and only a roof and garage siding mentioned. Photos show a lived-in, dated interior with window AC units, so don't count on an easy rent bump. Ask for the rent roll and lease dates first, then decide whether a showing makes sense at the current price.
Things to consider
- Price is only slightly below what the rents support Underwriting shows slightly positive monthly cash flow at the ask, and break-even is around $295,200. There is little cushion if rents or costs come in worse.
- Current rents are unknown Long-term tenants often pay below market. Without the rent roll you can't tell whether the income is below our $1,550 per-unit estimate.Listing says: “Currently Long term tenants.”
- Interiors look dated, with window AC Expect turnover costs and possible updates before pushing rents toward the high end of the estimate.From photo 9
- Taxes are significant for the rents The $5,199 tax bill is a big drag on a duplex renting around $3,100 a month combined in our estimates.
- Recent roof is a plus but unverified A new roof removes a big near-term expense if it's real. Get the permit and date.Listing says: “New Roof, New garage Siding.”
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
- doneNew roofListing says: New Roof, New garage Siding.
- doneNew garage sidingListing says: New Roof, New garage Siding.
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
- $284,900
- Cash to close
- $37,037
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- −$295/mo
- Cash-on-cash
- −9.6%
- Cap rate
- 6.6%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $239,856
- Rent that breaks even
- $3,478/mo
Long run
- Year 30: property vs stocks
- $1.10M vs $354K
- Cash flow turns positive
- year 5
The deal
- Price
- $284,900
- Cash to close
- $37,037
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- −$557/mo
- Cash-on-cash
- −18.1%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $199,818
- Rent that breaks even
- $3,901/mo
Long run
- Year 30: property vs stocks
- $835K vs $492K
- Cash flow turns positive
- year 12
The deal
- Price
- $274,900
- Cash to close
- $35,737
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- −$230/mo
- Cash-on-cash
- −7.7%
- Cap rate
- 6.9%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $239,856
- Rent that breaks even
- $3,394/mo
Long run
- Year 30: property vs stocks
- $1.13M vs $324K
- Cash flow turns positive
- year 5
The deal
- Price
- $274,900
- Cash to close
- $35,737
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- −$492/mo
- Cash-on-cash
- −16.5%
- Cap rate
- 5.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $199,818
- Rent that breaks even
- $3,807/mo
Long run
- Year 30: property vs stocks
- $842K vs $442K
- Cash flow turns positive
- year 10
The deal
- Price
- $284,900
- Cash to close
- $65,527
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- $55/mo
- Cash-on-cash
- 1.0%
- Cap rate
- 6.6%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $295,188
- Rent that breaks even
- $3,030/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $499K
- Cash flow turns positive
- year 1
The deal
- Price
- $284,900
- Cash to close
- $65,527
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- −$208/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $245,913
- Rent that breaks even
- $3,398/mo
Long run
- Year 30: property vs stocks
- $943K vs $553K
- Cash flow turns positive
- year 7
The deal
- Price
- $274,900
- Cash to close
- $63,227
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- $108/mo
- Cash-on-cash
- 2.0%
- Cap rate
- 6.9%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $295,188
- Rent that breaks even
- $2,962/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $481K
- Cash flow turns positive
- year 1
The deal
- Price
- $274,900
- Cash to close
- $63,227
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- −$154/mo
- Cash-on-cash
- −2.9%
- Cap rate
- 5.7%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $245,913
- Rent that breaks even
- $3,322/mo
Long run
- Year 30: property vs stocks
- $959K vs $514K
- Cash flow turns positive
- year 6
The deal
- Price
- $284,900
- Cash to close
- $79,772
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- $150/mo
- Cash-on-cash
- 2.2%
- Cap rate
- 6.6%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $314,867
- Rent that breaks even
- $2,908/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $607K
- Cash flow turns positive
- year 1
The deal
- Price
- $284,900
- Cash to close
- $79,772
- Price per unit
- $142,450
- GRM
- 7.7
Each month
- Cash flow
- −$113/mo
- Cash-on-cash
- −1.7%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $262,307
- Rent that breaks even
- $3,262/mo
Long run
- Year 30: property vs stocks
- $1.02M vs $627K
- Cash flow turns positive
- year 5
The deal
- Price
- $274,900
- Cash to close
- $76,972
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- $199/mo
- Cash-on-cash
- 3.1%
- Cap rate
- 6.9%
- DSCR
- 1.15×
Break-even
- Price that breaks even
- $314,867
- Rent that breaks even
- $2,844/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $586K
- Cash flow turns positive
- year 1
The deal
- Price
- $274,900
- Cash to close
- $76,972
- Price per unit
- $137,450
- GRM
- 7.4
Each month
- Cash flow
- −$63/mo
- Cash-on-cash
- −1.0%
- Cap rate
- 5.7%
- DSCR
- 0.95×
Break-even
- Price that breaks even
- $262,307
- Rent that breaks even
- $3,190/mo
Long run
- Year 30: property vs stocks
- $1.04M vs $594K
- Cash flow turns positive
- year 3
Monthly
Monthly breakdown
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,706 |
| PMI | −$160 |
| Cash flow | −$295 |
| Principal paid down (equity, not cash) | $217 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,706 |
| PMI | −$160 |
| Cash flow | −$557 |
| Principal paid down (equity, not cash) | $217 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,646 |
| PMI | −$155 |
| Cash flow | −$230 |
| Principal paid down (equity, not cash) | $209 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,646 |
| PMI | −$155 |
| Cash flow | −$492 |
| Principal paid down (equity, not cash) | $209 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,516 |
| Cash flow | $55 |
| Principal paid down (equity, not cash) | $193 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,516 |
| Cash flow | −$208 |
| Principal paid down (equity, not cash) | $193 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,463 |
| Cash flow | $108 |
| Principal paid down (equity, not cash) | $186 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,463 |
| Cash flow | −$154 |
| Principal paid down (equity, not cash) | $186 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,422 |
| Cash flow | $150 |
| Principal paid down (equity, not cash) | $181 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,422 |
| Cash flow | −$113 |
| Principal paid down (equity, not cash) | $181 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Net operating income | $1,571 |
| Mortgage (principal + interest) | −$1,372 |
| Cash flow | $199 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $3,100 |
| Vacancy (6%) | −$186 |
| Collected | $2,914 |
| Property tax Public record | −$433 |
| Insurance Estimate | −$184 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$248 |
| Capital reserve (8% of rent) | −$248 |
| Property management | −$262 |
| Net operating income | $1,309 |
| Mortgage (principal + interest) | −$1,372 |
| Cash flow | −$63 |
| Principal paid down (equity, not cash) | $175 |
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
- $650,035
- Rental profits, invested at 7%
- $454,774
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $256,410 of loan.
$245,026 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $281,935
- Monthly shortfalls, invested
- $72,177
$37,037 put into an index fund instead of the down payment and closing costs.
$11,018 you'd have paid in while the building lost money, invested instead.
The building comes out $750,698 ahead after 30 years.
- Your equity when you sell
- $650,035
- Rental profits, invested at 7%
- $184,496
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $256,410 of loan.
$119,388 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $281,935
- Monthly shortfalls, invested
- $209,843
$37,037 put into an index fund instead of the down payment and closing costs.
$35,106 you'd have paid in while the building lost money, invested instead.
The building comes out $342,753 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $504,120
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $247,410 of loan.
$263,708 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $272,039
- Monthly shortfalls, invested
- $51,909
$35,737 put into an index fund instead of the down payment and closing costs.
$7,874 you'd have paid in while the building lost money, invested instead.
The building comes out $807,390 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $214,386
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $247,410 of loan.
$133,868 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $272,039
- Monthly shortfalls, invested
- $170,120
$35,737 put into an index fund instead of the down payment and closing costs.
$27,760 you'd have paid in while the building lost money, invested instead.
The building comes out $399,446 ahead after 30 years.
- Your equity when you sell
- $650,035
- Rental profits, invested at 7%
- $647,037
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $227,920 of loan.
$309,936 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $498,808
$65,527 put into an index fund instead of the down payment and closing costs.
The building comes out $798,265 ahead after 30 years.
- Your equity when you sell
- $650,035
- Rental profits, invested at 7%
- $293,132
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $227,920 of loan.
$168,625 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $498,808
- Monthly shortfalls, invested
- $54,040
$65,527 put into an index fund instead of the down payment and closing costs.
$8,414 you'd have paid in while the building lost money, invested instead.
The building comes out $390,320 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $707,368
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $219,920 of loan.
$329,097 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $481,300
$63,227 put into an index fund instead of the down payment and closing costs.
The building comes out $853,288 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $332,123
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $219,920 of loan.
$184,315 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $481,300
- Monthly shortfalls, invested
- $32,699
$63,227 put into an index fund instead of the down payment and closing costs.
$4,943 you'd have paid in while the building lost money, invested instead.
The building comes out $445,343 ahead after 30 years.
- Your equity when you sell
- $650,035
- Rental profits, invested at 7%
- $754,464
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $213,675 of loan.
$344,054 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $607,245
$79,772 put into an index fund instead of the down payment and closing costs.
The building comes out $797,255 ahead after 30 years.
- Your equity when you sell
- $650,035
- Rental profits, invested at 7%
- $365,800
Sells for $691,527 (value up 3% a year), minus 6% selling cost ($41,492). Rent paid down $213,675 of loan.
$197,174 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $607,245
- Monthly shortfalls, invested
- $19,280
$79,772 put into an index fund instead of the down payment and closing costs.
$2,845 you'd have paid in while the building lost money, invested instead.
The building comes out $389,310 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $811,025
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $206,175 of loan.
$362,018 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $585,930
$76,972 put into an index fund instead of the down payment and closing costs.
The building comes out $852,314 ahead after 30 years.
- Your equity when you sell
- $627,219
- Rental profits, invested at 7%
- $410,663
Sells for $667,254 (value up 3% a year), minus 6% selling cost ($40,035). Rent paid down $206,175 of loan.
$213,380 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $585,930
- Monthly shortfalls, invested
- $7,583
$76,972 put into an index fund instead of the down payment and closing costs.
$1,088 you'd have paid in while the building lost money, invested instead.
The building comes out $444,369 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 $1.10M, stocks $354K. The property wins.
Year 30 (loan paid off): property $835K, stocks $492K. The property wins.
Year 30 (loan paid off): property $1.13M, stocks $324K. The property wins.
Year 30 (loan paid off): property $842K, stocks $442K. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $499K. The property wins.
Year 30 (loan paid off): property $943K, stocks $553K. The property wins.
Year 30 (loan paid off): property $1.33M, stocks $481K. The property wins.
Year 30 (loan paid off): property $959K, stocks $514K. The property wins.
Year 30 (loan paid off): property $1.40M, stocks $607K. The property wins.
Year 30 (loan paid off): property $1.02M, stocks $627K. The property wins.
Year 30 (loan paid off): property $1.44M, stocks $586K. The property wins.
Year 30 (loan paid off): property $1.04M, stocks $594K. 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 $1,550/mo · range $1,275–$1,825
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1407 N Girard Ave, Unit 2, Minneapolis 55411 off market | $1,900 | 2 / 1 | 0.8 mi | 97% |
| 1411 N Girard Ave, Unit 1, Minneapolis 55411 off market | $1,900 | 2 / 1 | 0.8 mi | 95% |
| 405 Queen Ave N, Unit 1, Minneapolis 55405 off market | $1,250 | 2 / 1 | 0.7 mi | 93% |
| 519 Russell Ave N, Apt 1, Minneapolis 55405 off market | $1,650 | 2 / 1 | 0.6 mi | 93% |
| 506 Newton Ave N, Minneapolis 55405 off market | $1,400 | 2 / 1 | 0.7 mi | 93% |
| 2208-2210 Glenwood Ave, Minneapolis 55405 off market | $1,299 | 2 / 1 | 0.8 mi | 93% |
| 816 21st Ave N, Apt 102, Minneapolis 55411 | $1,788 | 2 / 1 | 1.2 mi | 93% |
| 314 Knox Ave N, Minneapolis 55405 off market | $1,375 | 2 / 1 | 0.9 mi | 93% |
| 1715 Glenwood Ave, Minneapolis 55405 off market | $1,260 | 2 / 1 | 1.0 mi | 93% |
| 155 Cedar Lake Rd N, Minneapolis 55405 off market | $1,100 | 2 / 1 | 1.1 mi | 92% |
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
- highPriced about $48K above our break-even price, with negative cash flow at 20% down. Based on: data: underwriting.break_even_price · AI review
- mediumNo rents, lease terms or expenses given. 'Long term tenants' could mean old, below-market rents. Listing says: Currently Long term tenants. · AI review
- lowOwner-occupant pitch suggests the price may be set for a homebuyer, not for rental income. Listing says: Owner occupy or great investment. · AI review
Opportunities
- The seller bought for $70,875 in Jul 2008, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1702924440200: last sale 2008-07-01, $70,875
- Our rent estimates are $1,350 per 2-bed unit. If tenants pay below that, rents could rise after turnover, with no rent cap in Minneapolis. Based on: data: rent_estimate · AI review
- Seller bought for $70,875 in 2008, so there is room to negotiate down. Based on: data: listing.days_on_market · AI review
Questions for the agent
- What are the current rents, lease end dates and deposits for each unit?
- Who pays heat, water, trash and electric? Is there one furnace or two?
- When was the roof replaced, and are there permits or invoices?
- Are the tenants staying, and can the seller deliver the building vacant if I want to owner-occupy?
- What do the last 12 months of taxes, insurance and repairs look like?
- Is the rental license current and transferable (owner-exempt status)?
Bottom line
Cheap-looking old-seller duplex that barely cash flows at $284,900; it pencils below about $295K, and the rent roll decides it. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $5,199 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,203 |
| 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 2026-09-25 (10 days); last sold for $70,876 on 2008-10-16.
| Date | Event | Price |
|---|---|---|
| Listed | $284,900 | |
| Sold public record | $70,876 | |
| Sold public record | $229,900 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1969 |
| Market value (2026) | $275,000 |
| Property tax | $5,199 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2008-07-01 · $70,875 |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 94, about 1958 m away.
Crime in Willard - Hay
426 incidents in the last 12 months (48 per 1,000 residents), +12% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).