2106 Elliot Ave
Fourplex · 4 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath ×2 unit split estimated · 3,514 sq ft
Minneapolis, MN · Ventura Village · View the listing ↗
Photos courtesy of BRIDGE REALTY, LLC., via Realtor.com.
- Asking price
- $514,500 4 units · $129K per unit
- Monthly cash flow
- −$108 at 20% down, 7%
- Estimated rent
- $5,200/mo medium confidence
- Break-even price
- $494,151 where cash flow hits $0
First look
This 1883 brick 4-plex was bought for $300K in February and is now asking $514,500 after a rehab. At the ask it loses about $108 a month and the cap rate is 6.1%, so it doesn't work at today's rates. The listing's $6,000 a month is a projection, and our estimates run lower, around $5,200 for two 2-beds and two 1-beds. The units look freshly refreshed in the photos, with cosmetic finishes but no sign of major system work. Before a showing, ask for the rental license status, the rehab permits and the real rents. At $494K or less it gets closer, and 107 days on market gives you room to push.
Things to consider
- Price vs. numbers The ask is above what rents support. Break-even price is about $494K, so you'd need a cut of roughly $20K to stop losing money monthly.
- Big markup on a quick flip A $300K purchase in February, now $514,500. Check what was spent and whether the work was permitted, since the quality looks cosmetic.
- Rents unproven The $6,000 figure is the agent's estimate. Our estimate for the four units is lower, and studios at $1,000 may be optimistic for this area.Listing says: “Rent values are roughly $2,000 for the 3 bed units and $1,000 for the studios.”
- Rental license and legality No rental license is on file. An unlicensed or non-conforming 4-plex can block leasing or add costs to bring it up to code.
- Separate utilities help cash flow Separate furnaces and meters should mean tenants pay their own heat and electric, so the owner's costs are mostly taxes, insurance, water and repairs.Listing says: “Separate electric, separate gas, separate water heaters, and separate furnaces for all 4 units and common areas.”
- Taxes are high Non-homestead taxes of about $6,761 are a big expense on a $514K price, and could rise if the assessor reflects the new price.
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
- doneRehab of all units, common areas, hallways and basementListing says: Recently rehabbed with fresh finishes and updates to each unit and all common areas including hallways and basement.
- doneNew vinyl flooring, new carpet, refinished hardwoodListing says: New vinyl flooring, new carpet, and refinished hardwood flooring throughout the entire property.
- doneVinyl double-pane windowsListing says: All windows are efficient vinyl with double pane glass.
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
- $514,500
- Cash to close
- $66,885
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- −$740/mo
- Cash-on-cash
- −13.3%
- Cap rate
- 6.1%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $401,525
- Rent that breaks even
- $6,161/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $720K
- Cash flow turns positive
- year 7
The deal
- Price
- $514,500
- Cash to close
- $66,885
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- −$1,180/mo
- Cash-on-cash
- −21.2%
- Cap rate
- 5.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $334,364
- Rent that breaks even
- $6,922/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $1.03M
- Cash flow turns positive
- year 14
The deal
- Price
- $504,500
- Cash to close
- $65,585
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- −$675/mo
- Cash-on-cash
- −12.3%
- Cap rate
- 6.3%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $401,525
- Rent that breaks even
- $6,076/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $682K
- Cash flow turns positive
- year 7
The deal
- Price
- $504,500
- Cash to close
- $65,585
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- −$1,114/mo
- Cash-on-cash
- −20.4%
- Cap rate
- 5.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $334,364
- Rent that breaks even
- $6,826/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $973K
- Cash flow turns positive
- year 14
The deal
- Price
- $514,500
- Cash to close
- $118,335
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- −$108/mo
- Cash-on-cash
- −1.1%
- Cap rate
- 6.1%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $494,151
- Rent that breaks even
- $5,341/mo
Long run
- Year 30: property vs stocks
- $2.05M vs $913K
- Cash flow turns positive
- year 3
The deal
- Price
- $514,500
- Cash to close
- $118,335
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- −$548/mo
- Cash-on-cash
- −5.6%
- Cap rate
- 5.1%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $411,497
- Rent that breaks even
- $6,000/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $1.10M
- Cash flow turns positive
- year 10
The deal
- Price
- $504,500
- Cash to close
- $116,035
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- −$55/mo
- Cash-on-cash
- −0.6%
- Cap rate
- 6.3%
- DSCR
- 0.98×
Break-even
- Price that breaks even
- $494,151
- Rent that breaks even
- $5,272/mo
Long run
- Year 30: property vs stocks
- $2.08M vs $888K
- Cash flow turns positive
- year 2
The deal
- Price
- $504,500
- Cash to close
- $116,035
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- −$495/mo
- Cash-on-cash
- −5.1%
- Cap rate
- 5.2%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $411,497
- Rent that breaks even
- $5,922/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $1.05M
- Cash flow turns positive
- year 9
The deal
- Price
- $514,500
- Cash to close
- $144,060
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- $63/mo
- Cash-on-cash
- 0.5%
- Cap rate
- 6.1%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $527,094
- Rent that breaks even
- $5,118/mo
Long run
- Year 30: property vs stocks
- $2.23M vs $1.10M
- Cash flow turns positive
- year 1
The deal
- Price
- $514,500
- Cash to close
- $144,060
- Price per unit
- $128,625
- GRM
- 8.2
Each month
- Cash flow
- −$377/mo
- Cash-on-cash
- −3.1%
- Cap rate
- 5.1%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $438,930
- Rent that breaks even
- $5,750/mo
Long run
- Year 30: property vs stocks
- $1.65M vs $1.20M
- Cash flow turns positive
- year 7
The deal
- Price
- $504,500
- Cash to close
- $141,260
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- $113/mo
- Cash-on-cash
- 1.0%
- Cap rate
- 6.3%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $527,094
- Rent that breaks even
- $5,054/mo
Long run
- Year 30: property vs stocks
- $2.26M vs $1.08M
- Cash flow turns positive
- year 1
The deal
- Price
- $504,500
- Cash to close
- $141,260
- Price per unit
- $126,125
- GRM
- 8.1
Each month
- Cash flow
- −$327/mo
- Cash-on-cash
- −2.8%
- Cap rate
- 5.2%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $438,930
- Rent that breaks even
- $5,677/mo
Long run
- Year 30: property vs stocks
- $1.66M vs $1.16M
- Cash flow turns positive
- year 7
Monthly
Monthly breakdown
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$3,081 |
| PMI | −$289 |
| Cash flow | −$740 |
| Principal paid down (equity, not cash) | $392 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$3,081 |
| PMI | −$289 |
| Cash flow | −$1,180 |
| Principal paid down (equity, not cash) | $392 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$3,021 |
| PMI | −$284 |
| Cash flow | −$675 |
| Principal paid down (equity, not cash) | $384 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$3,021 |
| PMI | −$284 |
| Cash flow | −$1,114 |
| Principal paid down (equity, not cash) | $384 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$2,738 |
| Cash flow | −$108 |
| Principal paid down (equity, not cash) | $348 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$2,738 |
| Cash flow | −$548 |
| Principal paid down (equity, not cash) | $348 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$2,685 |
| Cash flow | −$55 |
| Principal paid down (equity, not cash) | $342 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$2,685 |
| Cash flow | −$495 |
| Principal paid down (equity, not cash) | $342 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$2,567 |
| Cash flow | $63 |
| Principal paid down (equity, not cash) | $327 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$2,567 |
| Cash flow | −$377 |
| Principal paid down (equity, not cash) | $327 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Net operating income | $2,630 |
| Mortgage (principal + interest) | −$2,517 |
| Cash flow | $113 |
| Principal paid down (equity, not cash) | $320 |
| Rent | $5,200 |
| Vacancy (6%) | −$312 |
| Collected | $4,888 |
| Property tax Public record | −$563 |
| Insurance Estimate | −$411 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$416 |
| Capital reserve (9% of rent) | −$468 |
| Property management | −$440 |
| Net operating income | $2,190 |
| Mortgage (principal + interest) | −$2,517 |
| Cash flow | −$327 |
| Principal paid down (equity, not cash) | $320 |
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
- $1,173,897
- Rental profits, invested at 7%
- $593,963
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $463,050 of loan.
$344,760 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $509,146
- Monthly shortfalls, invested
- $210,995
$66,885 put into an index fund instead of the down payment and closing costs.
$32,899 you'd have paid in while the building lost money, invested instead.
The building comes out $1,047,720 ahead after 30 years.
- Your equity when you sell
- $1,173,897
- Rental profits, invested at 7%
- $219,568
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $463,050 of loan.
$152,886 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $509,146
- Monthly shortfalls, invested
- $520,894
$66,885 put into an index fund instead of the down payment and closing costs.
$92,178 you'd have paid in while the building lost money, invested instead.
The building comes out $363,425 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $635,765
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $454,050 of loan.
$362,004 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $499,250
- Monthly shortfalls, invested
- $183,183
$65,585 put into an index fund instead of the down payment and closing costs.
$28,318 you'd have paid in while the building lost money, invested instead.
The building comes out $1,104,412 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $241,728
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $454,050 of loan.
$165,101 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $499,250
- Monthly shortfalls, invested
- $473,441
$65,585 put into an index fund instead of the down payment and closing costs.
$82,567 you'd have paid in while the building lost money, invested instead.
The building comes out $420,118 ahead after 30 years.
- Your equity when you sell
- $1,173,897
- Rental profits, invested at 7%
- $872,660
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $411,600 of loan.
$450,714 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $900,796
- Monthly shortfalls, invested
- $12,140
$118,335 put into an index fund instead of the down payment and closing costs.
$1,735 you'd have paid in while the building lost money, invested instead.
The building comes out $1,133,620 ahead after 30 years.
- Your equity when you sell
- $1,173,897
- Rental profits, invested at 7%
- $370,797
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $411,600 of loan.
$230,024 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $900,796
- Monthly shortfalls, invested
- $194,572
$118,335 put into an index fund instead of the down payment and closing costs.
$32,197 you'd have paid in while the building lost money, invested instead.
The building comes out $449,326 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $925,553
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $403,600 of loan.
$468,801 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $883,288
- Monthly shortfalls, invested
- $4,702
$116,035 put into an index fund instead of the down payment and closing costs.
$661 you'd have paid in while the building lost money, invested instead.
The building comes out $1,188,644 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $400,471
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $403,600 of loan.
$243,683 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $883,288
- Monthly shortfalls, invested
- $163,915
$116,035 put into an index fund instead of the down payment and closing costs.
$26,695 you'd have paid in while the building lost money, invested instead.
The building comes out $504,349 ahead after 30 years.
- Your equity when you sell
- $1,173,897
- Rental profits, invested at 7%
- $1,054,522
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $385,875 of loan.
$510,593 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,096,621
$144,060 put into an index fund instead of the down payment and closing costs.
The building comes out $1,131,798 ahead after 30 years.
- Your equity when you sell
- $1,173,897
- Rental profits, invested at 7%
- $473,441
Sells for $1,248,827 (value up 3% a year), minus 6% selling cost ($74,930). Rent paid down $385,875 of loan.
$275,632 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,096,621
- Monthly shortfalls, invested
- $103,214
$144,060 put into an index fund instead of the down payment and closing costs.
$16,192 you'd have paid in while the building lost money, invested instead.
The building comes out $447,503 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $1,111,082
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $378,375 of loan.
$528,556 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,075,307
$141,260 put into an index fund instead of the down payment and closing costs.
The building comes out $1,186,856 ahead after 30 years.
- Your equity when you sell
- $1,151,081
- Rental profits, invested at 7%
- $508,251
Sells for $1,224,554 (value up 3% a year), minus 6% selling cost ($73,473). Rent paid down $378,375 of loan.
$289,997 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,075,307
- Monthly shortfalls, invested
- $81,463
$141,260 put into an index fund instead of the down payment and closing costs.
$12,594 you'd have paid in while the building lost money, invested instead.
The building comes out $502,561 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 $1.77M, stocks $720K. The property wins.
Year 30 (loan paid off): property $1.39M, stocks $1.03M. The property wins.
Year 30 (loan paid off): property $1.79M, stocks $682K. The property wins.
Year 30 (loan paid off): property $1.39M, stocks $973K. The property wins.
Year 30 (loan paid off): property $2.05M, stocks $913K. The property wins.
Year 30 (loan paid off): property $1.54M, stocks $1.10M. The property wins.
Year 30 (loan paid off): property $2.08M, stocks $888K. The property wins.
Year 30 (loan paid off): property $1.55M, stocks $1.05M. The property wins.
Year 30 (loan paid off): property $2.23M, stocks $1.10M. The property wins.
Year 30 (loan paid off): property $1.65M, stocks $1.20M. The property wins.
Year 30 (loan paid off): property $2.26M, stocks $1.08M. The property wins.
Year 30 (loan paid off): property $1.66M, stocks $1.16M. 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 $1,400/mo · range $1,175–$1,650
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2424 Chicago Ave S, Minneapolis 55404 off market | $1,400 | 2 / 1 | 0.2 mi | 94% |
| 2643 12th Ave S, Unit 1, Minneapolis 55407 | $1,785 | 2 / 1 | 0.6 mi | 93% |
| 2021 3rd Ave S, Apt B1, Minneapolis 55404 off market | $1,150 | 2 / 1 | 0.5 mi | 93% |
| 2723 Portland Ave S, Minneapolis 55407 | $1,536 | 2 / 1 | 0.7 mi | 93% |
| 1917 Stevens Ave, Apt 4, Minneapolis 55403 off market | $1,400 | 2 / 1 | 0.7 mi | 93% |
| 706 S 9th St, Apt B1, Minneapolis 55404 off market | $1,400 | 2 / 1 | 0.7 mi | 93% |
| 2205 10th Ave S, Minneapolis 55404 off market | $1,700 | 3 / 1 | 0.1 mi | 84% |
| 1829 11th Ave S, Minneapolis 55404 off market | $1,550 | 3 / 1 | 0.3 mi | 84% |
| 2447 11th Ave S, Unit 3, Minneapolis 55404 off market | $1,150 | 1 / 1 | 0.3 mi | 84% |
| 2323 16th Ave S, Minneapolis 55404 | $995 | 1 / 1 | 0.5 mi | 84% |
1 bed / 1 bath estimate $1,200/mo · range $1,000–$1,425
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2447 11th Ave S, Unit 3, Minneapolis 55404 off market | $1,150 | 1 / 1 | 0.3 mi | 94% |
| 2323 16th Ave S, Minneapolis 55404 | $995 | 1 / 1 | 0.5 mi | 93% |
| 610 E 15th St, Minneapolis 55404 | $1,087 | 1 / 1 | 0.5 mi | 93% |
| 1921 3rd Ave S, Minneapolis 55404 | $1,150 | 1 / 1 | 0.6 mi | 93% |
| 929 Portland Ave, Apt 308, Minneapolis 55404 | $1,300 | 1 / 1 | 0.7 mi | 93% |
| 500 E Grant St, Unit 22, Minneapolis 55404 off market | $1,200 | 1 / 1 | 0.7 mi | 93% |
| 2424 Chicago Ave S, Minneapolis 55404 off market | $1,400 | 2 / 1 | 0.2 mi | 84% |
| 2643 12th Ave S, Unit 1, Minneapolis 55407 | $1,785 | 2 / 1 | 0.6 mi | 84% |
| 2021 3rd Ave S, Apt B1, Minneapolis 55404 off market | $1,150 | 2 / 1 | 0.5 mi | 84% |
| 2011 2nd Ave S, Minneapolis 55404 | $950 | 0 / 1 | 0.6 mi | 84% |
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
- highRents are projected, not actual. No tenants or leases are described, and the units are 'ready for occupants'. Listing says: Total estimated rent value of $6,000 per month. · AI review
- mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 2106 ELLIOT AVE
- mediumBought for $300,000 in Feb 2026; asking is 72% more 8 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 3502924210019: last sale 2026-02-01, $300,000
- mediumDescription says 3 baths, but 4 units with two 3-beds and two studios implies at least 4 baths. Check the legal unit configuration and whether the studios have proper egress. Listing says: Two large 3-bedroom units and two spacious studio apartments. · AI review
- mediumCounty classes it as a converted apartment building, so confirm zoning and that all 4 units are legal. Based on: data: county.dwelling_type · AI review
- mediumUnusually large price jump after a rehab the listing doesn't document with permits or costs. Based on: data: county.last_sale_price · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 110 days on market
- Minneapolis has no rent cap, so rents can follow the market once units are leased. Based on: data: underwriting.rent_rule · AI review
- Separate utilities and furnaces per unit mean tenants should pay their own heat and electric, keeping owner costs low. Listing says: Separate electric, separate gas, separate water heaters, and separate furnaces for all 4 units and common areas. · AI review
- Basement could add value later, but it would need permits and egress. Listing says: Large basement features multiple private access points for potential expansion. · AI review
Questions for the agent
- What did the seller spend on the rehab, and can you share permits and receipts?
- Is the building licensed as a 4-unit rental with the city, and when was the last inspection?
- Has any unit been leased since the rehab, and at what rent?
- Why has it sat 107 days, and has the price been cut?
- Are all four units separately metered, and who pays common-area electric?
- What are the ages of the roof and the four furnaces?
Bottom line
Nicely refreshed brick 4-plex, but a 72% jump in 8 months and negative cash flow at the ask means you should negotiate hard or walk. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $6,761 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,926 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 1883: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-17 (110 days); down $60,000 (10.4%) from the first ask of $574,500; last sold for $300,000 on 2026-02-13.
| Date | Event | Price |
|---|---|---|
| Price changed | $514,500 | |
| Price changed | $520,000 | |
| Price changed | $524,500 | |
| Price changed | $535,000 | |
| Price changed | $545,000 | |
| Price changed | $549,500 | |
| Price changed | $564,500 | |
| Relisted | $574,500 | |
| Removed | — | |
| Listed | $574,500 | |
| Sold | $300,000 | |
| Sold public record | $184,241 | |
| Sold public record | $184,241 | |
| Sold public record | $200,000 | |
| Sold public record | $102,007 |
County record Public record
| Recorded as | apartment converted |
| Living units | — |
| Year built | 1883 |
| Market value (2026) | $356,000 |
| Property tax | $6,761 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2026-02-01 · $300,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 94;MN 55, about 434 m away.
Crime in Ventura Village
501 incidents in the last 12 months (71 per 1,000 residents), −3% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).