Minneapolis › Jordan

2050 W Broadway Ave

Triplex · 3 units: 3 bed / 1 bath ×2 and 2 bed / 1 bath unit split estimated · 3,259 sq ft

Minneapolis, MN · Jordan · View the listing ↗

Cash flows

40 photos

Photos, via Realtor.com.

Asking price: $449,900
Monthly cash flow: $262
Estimated rent: $5,325/mo
Break-even price: $499,033

Adjust the numbers See the full breakdown

From the listing

Fully renovated (in 2021) Triplex in the heart of Broadway & Penn. Located in the vibrant Broadway & Penn corridor, this rebuilt triplex (Interior)) offers a rare opportunity to own a turnkey investment property surrounded by ongoing neighborhood revitalization and new development. This property has been fully gutted and rebuilt from the ground up (Interior). Major improvements include all new electrical, plumbing, ductwork, HVAC systems, water heaters, framing, insulation, drywall, leveled floors, windows, kitchens, bathrooms, finish carpentry, doors, and central air conditioning. Each unit features: Private front and rear entrances, separate utilities, individual HVAC systems for independent comfort and efficiency. The building includes three furnaces, three water heaters, and three central air units, making management simple and utility separation clean for owner-occupants or investors. Additional amenities include a shared basement with: Common laundry area and dedicated storage space for tenants. Whether you're looking to house hack, expand your portfolio, or secure a fully renovated (Interior 2021) income property in an improving area, this triplex delivers modern systems, low maintenance, and strong long-term potential. Home is fully occupied and total rents are $5,239 per month.

Description from Realtor.com, MLS #7073087. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2021 gut rebuild triplex with separate furnaces, water heaters and central air per unit, which is the kind of system split small investors want. The listing says total rents are $5,239 a month, but it gives no per-unit breakdown. Our estimates sum to about $5,325 at the midpoint, so the stated total sits slightly below our estimate but still needs proof. At $449,900 our underwriting shows about +$262 a month and a 7.1% cap rate, with break-even near $499K, so it works at ask today. It has sat 141 days, which gives room to negotiate. We couldn't match a county parcel, so verify taxes and unit count. Get the rent roll, leases and rental license before you spend time on a showing.

Things to consider

Stated rent total is unverified and close to our estimate Our midpoint rents total about $5,325 vs $5,239 stated. If real rents are lower than either figure, cash flow is worse than shown.Listing says: “Home is fully occupied and total rents are $5,239 per month.”
Positive cash flow at ask Underwriting shows about +$262 a month at $449,900. Break-even price is near $499K, so there is some cushion, but it is thin if rents or taxes come in worse.
Separate systems and utilities reduce owner costs Tenants likely pay their own heat and electric, so expenses are mostly taxes, insurance, water and repairs.Listing says: “separate utilities, individual HVAC systems for independent comfort and efficiency”
2021 rebuild lowers near-term capex New mechanicals, kitchens and baths mean fewer big repairs early on, though the exterior and roof are unaddressed.Listing says: “all new electrical, plumbing, ductwork, HVAC systems, water heaters”
Taxes and unit count are unverified No county parcel match means tax bills, license status and legal unit count need checking before you trust the numbers.
Long time on market gives leverage 141 days suggests the price may not be supported by the market or the rents.

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

doneFull gut renovation: electrical, plumbing, ductwork, HVAC, water heaters, windows, kitchens, bathsListing says: Fully renovated (in 2021) Triplex in the heart of Broadway & Penn.

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: $449,900
Cash to close: $103,477
Price per unit: $149,967
GRM: 7.0

Each month

Cash flow: $262/mo
Cash-on-cash: 3.0%
Cap rate: 7.1%
DSCR: 1.11×

Break-even

Price that breaks even: $499,033
Rent that breaks even: $4,990/mo

Long run

Year 30: property vs stocks: $2.31M vs $788K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,325
Vacancy (6%)	−$320
Collected	$5,006
Property tax Listing	−$860
Insurance Estimate	−$322
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$426
Capital reserve (8% of rent)	−$426
Net operating income	$2,656
Mortgage (principal + interest)	−$2,395
Cash flow	$262
Principal paid down (equity, not cash)	$305

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

If you buy this building$2,305,809

Your equity when you sell: $1,026,503
Rental profits, invested at 7%: $1,279,305

Same money in stocks$787,693

Cash to close, invested at 7%: $787,693

The building comes out $1,518,116 ahead after 30 years.

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $2.31M, stocks $788K. 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 $1,875/mo · range $1,675–$2,175 · 7 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1406 21st Ave N Unit 1, Minneapolis	$2,065	3 / 1	—	0.4 mi	2025-07-23	Duplex triplex
3023 Queen Ave N, Minneapolis	$1,450	3 / 1	820	0.7 mi	2026-07-31	Duplex triplex
816 21st Ave N Apt 336, Minneapolis	$2,065	3 / 1	1,500	0.8 mi	2026-07-14	Apartment
816 21st Ave N Apt 107, Minneapolis	$1,788	3 / 1	1,500	0.8 mi	2026-07-14	Apartment
910 Oliver Ave N Apt 5, Minneapolis	$1,790	3 / 1	1,101	1.1 mi	2026-07-28	Apartment
3045 Grimes Ave N, Robbinsdale	$1,850	3 / 1	1,400	1.3 mi	2026-09-15	Apartment
2112 5th Ave N Unit 1, Minneapolis	$1,595	3 / 1	1,200	1.4 mi	—	Apartment

2 bed estimate $1,575/mo · range $1,400–$1,675 · 11 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2000 W Broadway Ave, Minneapolis	$1,350	2 / 1	902	0.1 mi	2026-01-02	Apartment
2323 26th Ave N, Minneapolis	$1,717	2 / 1	1,052	0.2 mi	2026-05-04	Apartment
2222 Girard Ave N, Minneapolis	$1,500	2 / 1	1,736	0.5 mi	2026-07-10	Duplex triplex
816 21st Ave N Apt 337, Minneapolis	$1,788	2 / 1	1,000	0.8 mi	2026-07-14	Apartment
1239 Sheridan Ave N, Minneapolis	$1,099	2 / 1	865	0.9 mi	2026-02-06	Apartment
421 N 26th Ave Unit 1, Minneapolis	$1,500	2 / 1	300	1.0 mi	2026-09-21	Apartment
415 23rd Ave N Apt 4, Minneapolis	$1,415	2 / 1	850	1.0 mi	—	Apartment
621 Morgan Ave N, Minneapolis	$1,599	2 / 1	1,302	1.2 mi	2026-07-06	Duplex triplex
3340 Drew Ave N, Robbinsdale	$1,325	2 / 1	980	1.3 mi	2025-07-11	Apartment
3619 Fremont Ave N Apt 5, Minneapolis	$1,075	2 / 1	800	1.3 mi	—	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highTotal rent is stated with no per-unit breakdown, and it exceeds our estimates (~$4,650 mid). Listing says: Home is fully occupied and total rents are $5,239 per month. · AI review
highUnderwriting is negative at asking price. Based on: data: underwriting.cash_flow_monthly · AI review
mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 2050 BROADWAY AVE W
mediumRenovation is described as interior only; exterior, foundation and roof are not covered. Listing says: fully renovated (Interior 2021) income property in an improving area · AI review
mediumShared basement laundry and unit mix not confirmed; unit count unverified without a parcel match. Listing says: Common laundry area and dedicated storage space for tenants. · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 144 days on market
Separate utilities and individual HVAC per unit keep owner operating costs low and make tenant billing clean. Listing says: Each unit features: Private front and rear entrances, separate utilities, individual HVAC systems · AI review
141 days on market suggests room to negotiate toward our break-even near $400K. Based on: data: listing.days_on_market · AI review
Minneapolis has no rent cap, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Can I get the rent roll with per-unit rents, lease start and end dates, and deposits?
Are the tenants on leases or month-to-month, and have rents been paid on time?
Is the building licensed as a three-unit rental in Minneapolis, and when is the license renewal?
Were permits pulled for the 2021 work, and who did it? Is the exterior, roof and foundation work covered?
What are the actual property taxes and are there any special assessments?
Why has it been listed 141 days, and were there price changes or failed deals?

Bottom line

A well-rebuilt triplex with clean systems that cash flows modestly at asking, but verify the stated rents and taxes before you commit. 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.	$10,323
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,866
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 1904: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear; "fully renovated" in the description: -1 pts each	8% / 8%

Price history Realtor.com

On the market since 2026-05-14 (144 days); down $60,000 (11.8%) from the first ask of $509,900; last sold for $425,000 on 2021-05-04.

Date	Event	Price
2026-08-13	Price changed	$449,900
2026-06-30	Price changed	$475,000
2026-06-13	Price changed	$489,900
2026-05-28	Price changed	$499,900
2026-05-14	Listed	$509,900
2021-05-04	Sold public record	$425,000
2021-02-13	Removed	$290,000
2021-02-01	Sold	$425,000
2020-09-24	Price changed	$424,900
2020-09-14	Price changed	$449,900
2020-07-28	Price changed	$459,900
2020-07-13	Listed	$474,900
2018-10-15	Removed	$290,000
2018-07-30	Removed	$290,000
2018-06-10	Listed	$290,000
2017-06-20	Sold	$75,000
2017-05-12	Price changed	$79,900
2017-03-25	Listed	$89,900
2016-11-18	Sold	$75,000
2016-09-14	Sold public record	$51,409
2016-08-25	Price changed	$75,000
2016-08-17	Listed	$84,900

From the listing Listing

Listed as	triplex
Property tax, 2026	$10,323
County	Hennepin
Parcel number	1602924220171

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

None, about 1852 m away.

Crime in Jordan

591 incidents in the last 12 months (69 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).