1508 E 26th St
5 units · 5 units: 3 bed / 1 bath and 2 bed / 1 bath ×4 unit split estimated · 3,124 sq ft
Minneapolis, MN · Midtown Phillips · View the listing ↗
Photos, via Realtor.com.
Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.
- Asking price
- $529,999 5 units · $106K per unit
- Monthly cash flow
- $1,803 at 20% down, 7%
- Break-even price
- $868,706 where cash flow hits $0
First look
The listing says fourplex and $5,800/month in rent, but the county and our facts count five units, and the city license covers only four. That mismatch is the first thing to settle. Our model shows about $1,803/month cash flow and a 10.5% cap at asking, but it assumes five units at our rent estimates. If there are really four licensed units at $5,800, the income picture is very different. The listing also gives no per-unit rents, lease terms, or expenses, and there is a flat roof and a hot-water boiler system to inspect. Worth a showing only after you get the rent roll and a clear answer on unit count and licensing.
Things to consider
- Unit count mismatch The city license covers four units while records show five. An unlicensed unit can mean lost income, fines, or a lower value.
- Rents unverified Only a total is given. Our rent estimates put five units well above $5,800, so check whether the units are underpriced or the count is wrong.Listing says: “currently generates $5,800 per month in rental income”
- Flat roof on a 1913 stucco building Roof replacement or leak repairs on a flat roof can be a large cost that the cash flow numbers ignore.
- Heat and utilities unknown Hot-water heat on a shared boiler is usually an owner expense. That could cut cash flow by several hundred dollars a month.
- Tax bill is high At $9,267 a year on a non-homestead property, taxes weigh heavily on net income.
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 water heaterListing says: Recent updates include a new water heater, adding peace of mind for the next owner.
- doneInsulation work in upper level and basement (over $10k)Listing says: Owner has just completed over 10k of insulation work in both upper level and basement.
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
- $529,999
- Cash to close
- $68,900
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $1,152/mo
- Cash-on-cash
- 20.1%
- Cap rate
- 10.5%
- DSCR
- 1.33×
Break-even
- Price that breaks even
- $705,872
- Rent that breaks even
- $6,859/mo
Long run
- Year 30: property vs stocks
- $4.55M vs $524K
- Cash flow turns positive
- year 1
The deal
- Price
- $529,999
- Cash to close
- $68,900
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $443/mo
- Cash-on-cash
- 7.7%
- Cap rate
- 8.9%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $597,704
- Rent that breaks even
- $7,718/mo
Long run
- Year 30: property vs stocks
- $3.45M vs $524K
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $67,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $1,218/mo
- Cash-on-cash
- 21.6%
- Cap rate
- 10.7%
- DSCR
- 1.36×
Break-even
- Price that breaks even
- $705,872
- Rent that breaks even
- $6,773/mo
Long run
- Year 30: property vs stocks
- $4.60M vs $515K
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $67,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $509/mo
- Cash-on-cash
- 9.0%
- Cap rate
- 9.0%
- DSCR
- 1.15×
Break-even
- Price that breaks even
- $597,704
- Rent that breaks even
- $7,621/mo
Long run
- Year 30: property vs stocks
- $3.50M vs $515K
- Cash flow turns positive
- year 1
The deal
- Price
- $529,999
- Cash to close
- $121,900
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $1,803/mo
- Cash-on-cash
- 17.7%
- Cap rate
- 10.5%
- DSCR
- 1.64×
Break-even
- Price that breaks even
- $868,706
- Rent that breaks even
- $6,003/mo
Long run
- Year 30: property vs stocks
- $5.04M vs $928K
- Cash flow turns positive
- year 1
The deal
- Price
- $529,999
- Cash to close
- $121,900
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $1,094/mo
- Cash-on-cash
- 10.8%
- Cap rate
- 8.9%
- DSCR
- 1.39×
Break-even
- Price that breaks even
- $735,585
- Rent that breaks even
- $6,755/mo
Long run
- Year 30: property vs stocks
- $3.94M vs $928K
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $119,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $1,856/mo
- Cash-on-cash
- 18.6%
- Cap rate
- 10.7%
- DSCR
- 1.67×
Break-even
- Price that breaks even
- $868,706
- Rent that breaks even
- $5,933/mo
Long run
- Year 30: property vs stocks
- $5.08M vs $910K
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $119,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $1,147/mo
- Cash-on-cash
- 11.5%
- Cap rate
- 9.0%
- DSCR
- 1.41×
Break-even
- Price that breaks even
- $735,585
- Rent that breaks even
- $6,676/mo
Long run
- Year 30: property vs stocks
- $3.98M vs $910K
- Cash flow turns positive
- year 1
The deal
- Price
- $529,999
- Cash to close
- $148,400
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $1,979/mo
- Cash-on-cash
- 16.0%
- Cap rate
- 10.5%
- DSCR
- 1.75×
Break-even
- Price that breaks even
- $926,620
- Rent that breaks even
- $5,771/mo
Long run
- Year 30: property vs stocks
- $5.24M vs $1.13M
- Cash flow turns positive
- year 1
The deal
- Price
- $529,999
- Cash to close
- $148,400
- Price per unit
- $106,000
- GRM
- 5.3
Each month
- Cash flow
- $1,271/mo
- Cash-on-cash
- 10.3%
- Cap rate
- 8.9%
- DSCR
- 1.48×
Break-even
- Price that breaks even
- $784,624
- Rent that breaks even
- $6,494/mo
Long run
- Year 30: property vs stocks
- $4.14M vs $1.13M
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $145,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $2,029/mo
- Cash-on-cash
- 16.7%
- Cap rate
- 10.7%
- DSCR
- 1.78×
Break-even
- Price that breaks even
- $926,620
- Rent that breaks even
- $5,705/mo
Long run
- Year 30: property vs stocks
- $5.28M vs $1.11M
- Cash flow turns positive
- year 1
The deal
- Price
- $519,999
- Cash to close
- $145,600
- Price per unit
- $104,000
- GRM
- 5.2
Each month
- Cash flow
- $1,320/mo
- Cash-on-cash
- 10.9%
- Cap rate
- 9.0%
- DSCR
- 1.51×
Break-even
- Price that breaks even
- $784,624
- Rent that breaks even
- $6,420/mo
Long run
- Year 30: property vs stocks
- $4.17M vs $1.11M
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$3,173 |
| PMI | −$298 |
| Cash flow | $1,152 |
| Principal paid down (equity, not cash) | $404 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$3,173 |
| PMI | −$298 |
| Cash flow | $443 |
| Principal paid down (equity, not cash) | $404 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$3,114 |
| PMI | −$292 |
| Cash flow | $1,218 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$3,114 |
| PMI | −$292 |
| Cash flow | $509 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$2,821 |
| Cash flow | $1,803 |
| Principal paid down (equity, not cash) | $359 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$2,821 |
| Cash flow | $1,094 |
| Principal paid down (equity, not cash) | $359 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$2,768 |
| Cash flow | $1,856 |
| Principal paid down (equity, not cash) | $352 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$2,768 |
| Cash flow | $1,147 |
| Principal paid down (equity, not cash) | $352 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$2,645 |
| Cash flow | $1,979 |
| Principal paid down (equity, not cash) | $336 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$2,645 |
| Cash flow | $1,271 |
| Principal paid down (equity, not cash) | $336 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Net operating income | $4,624 |
| Mortgage (principal + interest) | −$2,595 |
| Cash flow | $2,029 |
| Principal paid down (equity, not cash) | $330 |
| Rent | $8,375 |
| Vacancy (6%) | −$502 |
| Collected | $7,872 |
| Property tax Public record | −$772 |
| Insurance Estimate | −$484 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$754 |
| Capital reserve (9% of rent) | −$754 |
| Property management | −$709 |
| Net operating income | $3,915 |
| Mortgage (principal + interest) | −$2,595 |
| Cash flow | $1,320 |
| Principal paid down (equity, not cash) | $330 |
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
- $1,209,260
- Rental profits, invested at 7%
- $3,342,182
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $476,999 of loan.
$1,398,308 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $524,483
$68,900 put into an index fund instead of the down payment and closing costs.
The building comes out $4,026,959 ahead after 30 years.
- Your equity when you sell
- $1,209,260
- Rental profits, invested at 7%
- $2,240,073
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $476,999 of loan.
$993,807 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $524,483
$68,900 put into an index fund instead of the down payment and closing costs.
The building comes out $2,924,850 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $3,411,795
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $467,999 of loan.
$1,420,133 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $514,587
$67,600 put into an index fund instead of the down payment and closing costs.
The building comes out $4,083,652 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $2,309,686
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $467,999 of loan.
$1,015,633 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $514,587
$67,600 put into an index fund instead of the down payment and closing costs.
The building comes out $2,981,543 ahead after 30 years.
- Your equity when you sell
- $1,209,260
- Rental profits, invested at 7%
- $3,834,119
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $423,999 of loan.
$1,539,557 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $927,932
$121,900 put into an index fund instead of the down payment and closing costs.
The building comes out $4,115,446 ahead after 30 years.
- Your equity when you sell
- $1,209,260
- Rental profits, invested at 7%
- $2,732,009
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $423,999 of loan.
$1,135,057 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $927,932
$121,900 put into an index fund instead of the down payment and closing costs.
The building comes out $3,013,337 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $3,894,450
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $415,999 of loan.
$1,558,718 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $910,424
$119,600 put into an index fund instead of the down payment and closing costs.
The building comes out $4,170,469 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $2,792,341
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $415,999 of loan.
$1,154,217 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $910,424
$119,600 put into an index fund instead of the down payment and closing costs.
The building comes out $3,068,360 ahead after 30 years.
- Your equity when you sell
- $1,209,260
- Rental profits, invested at 7%
- $4,033,965
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $397,499 of loan.
$1,603,027 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,129,657
$148,400 put into an index fund instead of the down payment and closing costs.
The building comes out $4,113,568 ahead after 30 years.
- Your equity when you sell
- $1,209,260
- Rental profits, invested at 7%
- $2,931,856
Sells for $1,286,447 (value up 3% a year), minus 6% selling cost ($77,187). Rent paid down $397,499 of loan.
$1,198,526 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,129,657
$148,400 put into an index fund instead of the down payment and closing costs.
The building comes out $3,011,459 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $4,090,526
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $389,999 of loan.
$1,620,990 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,108,342
$145,600 put into an index fund instead of the down payment and closing costs.
The building comes out $4,168,627 ahead after 30 years.
- Your equity when you sell
- $1,186,444
- Rental profits, invested at 7%
- $2,988,417
Sells for $1,262,174 (value up 3% a year), minus 6% selling cost ($75,730). Rent paid down $389,999 of loan.
$1,216,489 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,108,342
$145,600 put into an index fund instead of the down payment and closing costs.
The building comes out $3,066,518 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 $4.55M, stocks $524K. The property wins.
Year 30 (loan paid off): property $3.45M, stocks $524K. The property wins.
Year 30 (loan paid off): property $4.60M, stocks $515K. The property wins.
Year 30 (loan paid off): property $3.50M, stocks $515K. The property wins.
Year 30 (loan paid off): property $5.04M, stocks $928K. The property wins.
Year 30 (loan paid off): property $3.94M, stocks $928K. The property wins.
Year 30 (loan paid off): property $5.08M, stocks $910K. The property wins.
Year 30 (loan paid off): property $3.98M, stocks $910K. The property wins.
Year 30 (loan paid off): property $5.24M, stocks $1.13M. The property wins.
Year 30 (loan paid off): property $4.14M, stocks $1.13M. The property wins.
Year 30 (loan paid off): property $5.28M, stocks $1.11M. The property wins.
Year 30 (loan paid off): property $4.17M, stocks $1.11M. 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 $1,775/mo · range $1,625–$2,050 · 6 rentals within 0.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2500 17th Ave S Unit 2, Minneapolis | $1,200 | 3 / 1 | 0.2 mi |
| 2742 18th Ave S, Minneapolis | $1,850 | 3 / 1 | 0.3 mi |
| 912 E 25th St Apt 2, Minneapolis | $1,695 | 3 / 1 | 0.4 mi |
| 912 E 25th St Apt 3, Minneapolis | $1,675 | 3 / 1 | 0.4 mi |
| 2835 11th Ave S, Minneapolis | $1,700 | 3 / 2 | 0.4 mi |
| 2407 Elliot Upper Ave Unit Elliot, Minneapolis | $2,300 | 3 / 1 | 0.4 mi |
2 bed estimate $1,650/mo · range $1,450–$1,850 · 8 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2643 12th Ave S Unit 1, Minneapolis | $1,785 | 2 / 1 | 0.2 mi |
| 2835 11th Ave S, Minneapolis | $1,557 | 2 / 2 | 0.4 mi |
| 2944 17th Ave S, Minneapolis | $1,649 | 2 / 2 | 0.5 mi |
| 2220 Snelling Ave, Minneapolis | $1,904 | 2 / 2 | 0.5 mi |
| 2835 Park Ave, Minneapolis | $1,340 | 2 / 1 | 0.7 mi |
| 1901 Minnehaha Ave, Minneapolis | $1,500 | 2 / 1 | 0.7 mi |
| 2723 Portland Ave S, Minneapolis | $1,589 | 2 / 1 | 0.7 mi |
| 3140 16th Ave S, Minneapolis | $1,300 | 2 / 1 | 0.7 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
- highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 1508 26TH ST E, units=4
- highFifth unit may be unlicensed or illegal; income and value may depend on it Based on: data: city.rental_license · AI review
- mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 3502924130356: roof=Flat, exterior=WOOD
- mediumTotal rent of $5,800 across four or five units is well below our estimates, and no unit-level rents are given Listing says: currently generates $5,800 per month in rental income · AI review
- mediumHot-water heat: unclear if owner pays heat on a shared boiler Based on: data: county.heat_type · AI review
- lowBought for $493K in Dec 2021, now asking $530K after 94 days on market Based on: data: county.last_sale_price · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 97 days on market, 1 price cuts
- No rent cap in Minneapolis, so rents can move to market if current rents are below estimates Based on: data: rent_estimate · AI review
- Off-street lot is a real plus in this area Listing says: private off-street parking lot, providing convenient parking for tenants · AI review
Questions for the agent
- Is it four or five units? What does the rental license cover, and is the fifth unit legal?
- Can I get the rent roll with each unit's rent, lease end date, and deposits?
- What are trailing-12 expenses, including heat, water, trash and insurance?
- How many boilers and meters are there, and who pays each utility?
- How old is the flat roof, and has it leaked?
- Why has it sat 94 days, and has the price changed?
Bottom line
The numbers look strong on paper, but the unit count conflict, missing rent roll and flat roof need answers before this is worth an offer. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $9,267 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $5,809 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $425 |
| 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 1913: +1 pt capital reserve; 11 bedrooms: +1 pt repairs for wear | 9% / 9% |
Price history Realtor.com
On the market since 2026-06-28 (99 days); down $39,901 (7.0%) from the first ask of $569,900; last sold for $493,000 on 2021-12-15.
| Date | Event | Price |
|---|---|---|
| Price changed | $529,999 | |
| Price changed | $534,999 | |
| Price changed | $549,999 | |
| Listed | $539,999 | |
| Removed | $569,900 | |
| Sold | $493,000 | |
| Listed | $509,000 | |
| Sold | $364,500 | |
| Price changed | $365,000 | |
| Listed | $375,000 | |
| Sold | $120,300 | |
| Price changed | $134,900 | |
| Price changed | $149,000 | |
| Listed | $169,900 | |
| Sold public record | $70,000 |
County record Public record
| Recorded as | apartment 4 or 5 unit |
| Living units | 5 |
| Year built | 1913 |
| Market value (2026) | $488,000 |
| Property tax | $9,267 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2021-12-01 · $493,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
MN 55, about 687 m away.
Crime in Midtown Phillips
409 incidents in the last 12 months (79 per 1,000 residents), +2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).