16 W 33rd St
Triplex · 3 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath unit split estimated · 4,630 sq ft
Minneapolis, MN · Lyndale · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $680,000 3 units · $227K per unit
- Monthly cash flow
- −$1,499 at 20% down, 7%
- Break-even price
- $398,327 where cash flow hits $0
First look
The listing calls this a fourplex, but the county and the city rental license both say three units, and the unit mix in the text (3BR upper, 3BR middle, 2BR garden) does not match our rent estimate of two 2-beds and a 1-bed. Nothing is stated about rents, leases or utilities, so the income side is a blank. On our numbers it loses about $1,499 a month at asking and breaks even near $398K, so $680K does not work at today's rates. The interiors in the photos look recently renovated, which is the one real strength. Before a showing, get the rent roll, confirm how many legal units exist, and ask why a property bought for $690K in April 2024 is back on the market.
Things to consider
- Price is far above what the income supports Our model shows about -$1,499/month and a 3.7% cap rate at asking. Break-even is near $398K, so the gap is huge.
- Unit count conflict: four vs. three Income and financing depend on legal units. An unlicensed fourth unit could be a code and insurance problem.
- No income data in the listing Without rents and expenses you can't verify the cash flow claim. Get the rent roll and leases first.Listing says: “this property delivers solid cash flow in a prime location”
- Quick resale after buying at $690K Selling at a lower price after 17 months suggests the numbers didn't work for the current owner.
- Renovations look good but the systems are unknown Cosmetic updates can hide old boilers, wiring or plumbing. Ask for permits and inspect the mechanicals.From photo 4
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
- $680,000
- Cash to close
- $88,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$2,334/mo
- Cash-on-cash
- −31.7%
- Cap rate
- 3.7%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $323,663
- Rent that breaks even
- $7,731/mo
Long run
- Year 30: property vs stocks
- $1.56M vs $2.26M
- Cash flow turns positive
- year 27
The deal
- Price
- $680,000
- Cash to close
- $88,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$2,732/mo
- Cash-on-cash
- −37.1%
- Cap rate
- 3.0%
- DSCR
- 0.39×
Break-even
- Price that breaks even
- $262,959
- Rent that breaks even
- $8,686/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $2.87M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $670,000
- Cash to close
- $87,100
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$2,269/mo
- Cash-on-cash
- −31.3%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $323,663
- Rent that breaks even
- $7,646/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $2.18M
- Cash flow turns positive
- year 26
The deal
- Price
- $670,000
- Cash to close
- $87,100
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$2,666/mo
- Cash-on-cash
- −36.7%
- Cap rate
- 3.1%
- DSCR
- 0.39×
Break-even
- Price that breaks even
- $262,959
- Rent that breaks even
- $8,590/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $2.79M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $680,000
- Cash to close
- $156,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$1,499/mo
- Cash-on-cash
- −11.5%
- Cap rate
- 3.7%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $398,327
- Rent that breaks even
- $6,647/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $2.19M
- Cash flow turns positive
- year 22
The deal
- Price
- $680,000
- Cash to close
- $156,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$1,897/mo
- Cash-on-cash
- −14.6%
- Cap rate
- 3.0%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $323,620
- Rent that breaks even
- $7,467/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $2.75M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $670,000
- Cash to close
- $154,100
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$1,446/mo
- Cash-on-cash
- −11.3%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $398,327
- Rent that breaks even
- $6,578/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $2.12M
- Cash flow turns positive
- year 22
The deal
- Price
- $670,000
- Cash to close
- $154,100
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$1,844/mo
- Cash-on-cash
- −14.4%
- Cap rate
- 3.1%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $323,620
- Rent that breaks even
- $7,390/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $2.67M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $680,000
- Cash to close
- $190,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$1,273/mo
- Cash-on-cash
- −8.0%
- Cap rate
- 3.7%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $424,882
- Rent that breaks even
- $6,353/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $2.23M
- Cash flow turns positive
- year 20
The deal
- Price
- $680,000
- Cash to close
- $190,400
- Price per unit
- $226,667
- GRM
- 12.1
Each month
- Cash flow
- −$1,671/mo
- Cash-on-cash
- −10.5%
- Cap rate
- 3.0%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $345,195
- Rent that breaks even
- $7,137/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $2.76M
- Cash flow turns positive
- year 29
The deal
- Price
- $670,000
- Cash to close
- $187,600
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$1,223/mo
- Cash-on-cash
- −7.8%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $424,882
- Rent that breaks even
- $6,288/mo
Long run
- Year 30: property vs stocks
- $1.63M vs $2.16M
- Cash flow turns positive
- year 19
The deal
- Price
- $670,000
- Cash to close
- $187,600
- Price per unit
- $223,333
- GRM
- 11.9
Each month
- Cash flow
- −$1,621/mo
- Cash-on-cash
- −10.4%
- Cap rate
- 3.1%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $345,195
- Rent that breaks even
- $7,065/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $2.68M
- Cash flow turns positive
- year 28
Monthly
Monthly breakdown
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$4,072 |
| PMI | −$382 |
| Cash flow | −$2,334 |
| Principal paid down (equity, not cash) | $518 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$4,072 |
| PMI | −$382 |
| Cash flow | −$2,732 |
| Principal paid down (equity, not cash) | $518 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$4,012 |
| PMI | −$377 |
| Cash flow | −$2,269 |
| Principal paid down (equity, not cash) | $510 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$4,012 |
| PMI | −$377 |
| Cash flow | −$2,666 |
| Principal paid down (equity, not cash) | $510 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$3,619 |
| Cash flow | −$1,499 |
| Principal paid down (equity, not cash) | $461 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$3,619 |
| Cash flow | −$1,897 |
| Principal paid down (equity, not cash) | $461 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$3,566 |
| Cash flow | −$1,446 |
| Principal paid down (equity, not cash) | $454 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$3,566 |
| Cash flow | −$1,844 |
| Principal paid down (equity, not cash) | $454 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$3,393 |
| Cash flow | −$1,273 |
| Principal paid down (equity, not cash) | $432 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$3,393 |
| Cash flow | −$1,671 |
| Principal paid down (equity, not cash) | $432 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Net operating income | $2,120 |
| Mortgage (principal + interest) | −$3,343 |
| Cash flow | −$1,223 |
| Principal paid down (equity, not cash) | $425 |
| Rent | $4,700 |
| Vacancy (6%) | −$282 |
| Collected | $4,418 |
| Property tax Listing | −$830 |
| Insurance Estimate | −$354 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$376 |
| Capital reserve (9% of rent) | −$423 |
| Property management | −$398 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$3,343 |
| Cash flow | −$1,621 |
| Principal paid down (equity, not cash) | $425 |
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
- $1,551,506
- Rental profits, invested at 7%
- $11,660
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $612,000 of loan.
$10,943 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $672,923
- Monthly shortfalls, invested
- $1,585,629
$88,400 put into an index fund instead of the down payment and closing costs.
$357,543 you'd have paid in while the building lost money, invested instead.
Stocks come out $695,387 ahead after 30 years.
- Your equity when you sell
- $1,551,506
- Rental profits, invested at 7%
- $0
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $612,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $672,923
- Monthly shortfalls, invested
- $2,192,467
$88,400 put into an index fund instead of the down payment and closing costs.
$573,603 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,313,884 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $15,216
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $603,000 of loan.
$14,097 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $663,027
- Monthly shortfalls, invested
- $1,519,572
$87,100 put into an index fund instead of the down payment and closing costs.
$338,870 you'd have paid in while the building lost money, invested instead.
Stocks come out $638,695 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $0
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $603,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $663,027
- Monthly shortfalls, invested
- $2,122,854
$87,100 put into an index fund instead of the down payment and closing costs.
$551,777 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,257,191 ahead after 30 years.
- Your equity when you sell
- $1,551,506
- Rental profits, invested at 7%
- $54,354
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $544,000 of loan.
$45,779 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,190,557
- Monthly shortfalls, invested
- $997,158
$156,400 put into an index fund instead of the down payment and closing costs.
$211,152 you'd have paid in while the building lost money, invested instead.
Stocks come out $581,855 ahead after 30 years.
- Your equity when you sell
- $1,551,506
- Rental profits, invested at 7%
- $0
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $544,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,190,557
- Monthly shortfalls, invested
- $1,561,302
$156,400 put into an index fund instead of the down payment and closing costs.
$392,376 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,200,352 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $62,004
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $536,000 of loan.
$51,527 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,173,049
- Monthly shortfalls, invested
- $944,477
$154,100 put into an index fund instead of the down payment and closing costs.
$197,740 you'd have paid in while the building lost money, invested instead.
Stocks come out $526,832 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $0
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $536,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,173,049
- Monthly shortfalls, invested
- $1,500,970
$154,100 put into an index fund instead of the down payment and closing costs.
$373,216 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,145,329 ahead after 30 years.
- Your equity when you sell
- $1,551,506
- Rental profits, invested at 7%
- $92,093
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $510,000 of loan.
$72,991 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,449,373
- Monthly shortfalls, invested
- $778,490
$190,400 put into an index fund instead of the down payment and closing costs.
$156,932 you'd have paid in while the building lost money, invested instead.
Stocks come out $584,264 ahead after 30 years.
- Your equity when you sell
- $1,551,506
- Rental profits, invested at 7%
- $2,240
Sells for $1,650,538 (value up 3% a year), minus 6% selling cost ($99,032). Rent paid down $510,000 of loan.
$2,198 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,449,373
- Monthly shortfalls, invested
- $1,307,134
$190,400 put into an index fund instead of the down payment and closing costs.
$313,142 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,202,761 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $102,395
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $502,500 of loan.
$79,982 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,428,059
- Monthly shortfalls, invested
- $732,232
$187,600 put into an index fund instead of the down payment and closing costs.
$145,959 you'd have paid in while the building lost money, invested instead.
Stocks come out $529,206 ahead after 30 years.
- Your equity when you sell
- $1,528,690
- Rental profits, invested at 7%
- $3,724
Sells for $1,626,266 (value up 3% a year), minus 6% selling cost ($97,576). Rent paid down $502,500 of loan.
$3,609 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,428,059
- Monthly shortfalls, invested
- $1,252,058
$187,600 put into an index fund instead of the down payment and closing costs.
$296,590 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,147,703 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 $1.56M, stocks $2.26M. Stocks win.
Year 30 (loan paid off): property $1.55M, stocks $2.87M. Stocks win.
Year 30 (loan paid off): property $1.54M, stocks $2.18M. Stocks win.
Year 30 (loan paid off): property $1.53M, stocks $2.79M. Stocks win.
Year 30 (loan paid off): property $1.61M, stocks $2.19M. Stocks win.
Year 30 (loan paid off): property $1.55M, stocks $2.75M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $2.12M. Stocks win.
Year 30 (loan paid off): property $1.53M, stocks $2.67M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $2.23M. Stocks win.
Year 30 (loan paid off): property $1.55M, stocks $2.76M. Stocks win.
Year 30 (loan paid off): property $1.63M, stocks $2.16M. Stocks win.
Year 30 (loan paid off): property $1.53M, stocks $2.68M. 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.
2 bed estimate $1,725/mo · range $1,500–$1,825 · 19 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3329 Nicollet Ave Unit 300, Minneapolis | $1,675 | 2 / 1 | 0.1 mi |
| 3212 1st Ave S, Minneapolis | $1,800 | 2 / 1 | 0.1 mi |
| 3123 2nd Ave S Unit 1, Minneapolis | $1,490 | 2 / 1 | 0.3 mi |
| 3429 2nd Ave S Fl 1, Minneapolis | $1,400 | 2 / 1 | 0.3 mi |
| 3503 2nd Ave S, Minneapolis | $1,639 | 2 / 1 | 0.4 mi |
| 3515 2nd Ave S Unit 303, Minneapolis | $1,695 | 2 / 1 | 0.4 mi |
| 3520 Grand Ave S, Minneapolis | $1,225 | 2 / 1 | 0.4 mi |
| 3247 Lyndale Ave S, Minneapolis | $1,315 | 2 / 1 | 0.4 mi |
| 410 W Lake St, Minneapolis | $1,715 | 2 / 1 | 0.5 mi |
| 3648 Blaisdell Ave Apt 2, Minneapolis | $1,595 | 2 / — | 0.5 mi |
1 bed estimate $1,250/mo · range $1,200–$1,500 · 25 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3309 Pillsbury Ave S, Minneapolis | $1,000 | 1 / 1 | 0.1 mi |
| 3127 Pleasant Ave, Minneapolis | $1,099 | 1 / 1 | 0.2 mi |
| 3127 Pleasant Ave Apt 206, Minneapolis | $1,099 | 1 / 1 | 0.2 mi |
| 3118 Pleasant Ave, Minneapolis | $1,199 | 1 / 1 | 0.3 mi |
| 3320 Grand Ave S, Minneapolis | $1,200 | 1 / 1 | 0.3 mi |
| 3536 Nicollet Ave, Minneapolis | $1,515 | 1 / 1 | 0.3 mi |
| 3527 Pillsbury Ave S, Minneapolis | $1,075 | 1 / 1 | 0.3 mi |
| 3410 Harriet Ave S, Minneapolis | $1,099 | 1 / 1 | 0.4 mi |
| 3013 Grand Ave S, Minneapolis | $1,045 | 1 / 1 | 0.4 mi |
| 3538 Grand Ave S, Minneapolis | $1,015 | 1 / 1 | 0.5 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
- highListing says fourplex but the county and the rental license show three units. A fourth unit may be unlicensed or not legal. Listing says: Beautifully maintained corner-lot fourplex offering strong income potential and modern finishes throughout. · AI review
- highNo rents, lease terms or expenses given, but the listing claims solid cash flow. Our model shows heavy losses at asking. Listing says: this property delivers solid cash flow in a prime location · AI review
- mediumAsking is $281,673 above the price where cash flow breaks even ($398,327) at the default scenario. Based on: Derived: price $680,000 vs. break-even $398,327
- mediumOwner-homestead tax of $9,964 may understate the investor bill. Check the non-homestead rate. Based on: data: county.homestead · AI review
- lowSold for $690,000 in Apr 2024, more than today's asking price. Ask why the owner is selling again so soon. Public record: Hennepin County parcel 0302824240017: last sale 2024-04-01, $690,000
- lowI-35W is about 316 m away, so expect road noise. That can weigh on rents and tenant appeal. Based on: data: highway.distance_m · AI review
Opportunities
- Renovated interiors with in-unit laundry may mean little near-term capital work and easy leasing. Listing says: Each unit features its own in-unit laundry, high-end updates · AI review
- Minneapolis has no rent cap, so rents can follow the market. Large 3-beds could rent well above our 2-bed estimates. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Is this three units or four? Which units are on the rental license?
- Can I see the current rent roll, lease dates and trailing-12 expenses?
- Why is the owner selling after buying in April 2024 for $690K?
- Who pays heat, water and trash? Are there separate meters for each unit?
- What was renovated, when, and were permits pulled?
- What is the roof age, and what heating system serves each unit?
Bottom line
Nicely renovated, but at $680K with no stated rents and a unit count that doesn't match the records, it loses money badly and needs proof before a showing. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2026. 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. | $9,964 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,243 |
| 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 1912: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-28 (99 days, relisted 1×); down $25,000 (3.5%) from the first ask of $705,000; last sold for $690,000 on 2024-04-30; listed for rent at $1,099/mo on 2025-12-23.
| Date | Event | Price |
|---|---|---|
| Listed | $680,000 | |
| Removed | $715,000 | |
| Removed | $705,000 | |
| Removed | — | |
| Listed for rent | $1,099/mo | |
| Listed for rent | $1,550/mo | |
| Sold | $690,000 | |
| Removed | — | |
| Listed for rent | $1,099/mo | |
| Listed for rent | $1,600/mo | |
| Removed | — | |
| Rent changed | $1,600/mo | |
| Listed for rent | $1,700/mo | |
| Removed | — | |
| Rent changed | $1,800/mo | |
| Listed for rent | $1,900/mo | |
| Removed | — | |
| Listed for rent | $2,000/mo | |
| Sold | $769,000 | |
| Listed | $799,000 | |
| Sold public record | $153,000 | |
| Sold public record | $130,000 |
County record Public record
| Recorded as | triplex |
| Living units | 3 |
| Year built | 1912 |
| Market value (2026) | $617,100 |
| Property tax | $9,964 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-04-01 · $690,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 35W, about 316 m away.
Crime in Lyndale
473 incidents in the last 12 months (66 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).