2208 Milwaukee Ave
Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 3,381 sq ft
Minneapolis, MN · Seward · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $569,900 2 units · $285K per unit
- Monthly cash flow
- −$1,529 at 20% down, 7%
- Estimated rent
- $3,500/mo medium confidence
- Break-even price
- $282,693 where cash flow hits $0
First look
This is pitched as an owner-occupant duplex, and that's the only way it might make sense. Our underwriting has it losing about $1,529 a month at the asking price with a 3.2% cap rate, and cash flow only breaks even near $283K. The $3,400 claimed from two furnished-finder rentals is the seller's number, not a rent roll, and those are short-term-style furnished rentals, not standard leases. Our estimate for a normal long-term unit is about $1,750. Before a showing, ask for proof of the $3,400, the license status, and why the price jumped $94K in two years. If you can't live in it, pass at this price.
Things to consider
- Price is far above what rents support At asking, our model loses about $1,529 a month, and the price where cash flow breaks even is about $283K. An investor can't make this work without large price cuts.
- The stated rent is unproven The $3,400 is the seller's figure from furnished rentals. Our estimate for two long-term units is $3,500 combined, so the gap is not in the rent itself; the risk is that the furnished income may not hold up on standard leases or without a license.Listing says: “the renters will be paying $3,400 towards your monthly mortgage”
- Rental license and legality No license is on file. An unlicensed or non-conforming setup can limit rent and may force changes.
- Heavy tax bill Non-homestead tax of about $9.3K a year eats a large share of income, and it is already counted as an investor.
- Systems are newer, which helps Furnaces, water heaters and panels are recent, so near-term repair spending should be lower. Verify with permits and receipts.Listing says: “the electrical panels were replaced a year ago”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Lower unit (two furnished rooms combined): $3,400Listing says: the renters will be paying $3,400 towards your monthly mortgage
Condition and repairs
- doneTwo water heaters and two furnaces replaced in 2021Listing says: The two water heaters and the two furnaces were new in 2021
- doneElectrical panels replacedListing says: the electrical panels were replaced a year ago
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
- $569,900
- Cash to close
- $74,087
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$2,228/mo
- Cash-on-cash
- −36.1%
- Cap rate
- 3.2%
- DSCR
- 0.40×
Break-even
- Price that breaks even
- $229,704
- Rent that breaks even
- $6,357/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $2.30M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $569,900
- Cash to close
- $74,087
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$2,524/mo
- Cash-on-cash
- −40.9%
- Cap rate
- 2.5%
- DSCR
- 0.32×
Break-even
- Price that breaks even
- $184,499
- Rent that breaks even
- $7,130/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $2.76M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $559,900
- Cash to close
- $72,787
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$2,163/mo
- Cash-on-cash
- −35.7%
- Cap rate
- 3.2%
- DSCR
- 0.41×
Break-even
- Price that breaks even
- $229,704
- Rent that breaks even
- $6,273/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $2.22M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $559,900
- Cash to close
- $72,787
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$2,459/mo
- Cash-on-cash
- −40.5%
- Cap rate
- 2.6%
- DSCR
- 0.33×
Break-even
- Price that breaks even
- $184,499
- Rent that breaks even
- $7,036/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $2.68M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $569,900
- Cash to close
- $131,077
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$1,529/mo
- Cash-on-cash
- −14.0%
- Cap rate
- 3.2%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $282,693
- Rent that breaks even
- $5,460/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $2.21M
- Cash flow turns positive
- year 29
The deal
- Price
- $569,900
- Cash to close
- $131,077
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$1,825/mo
- Cash-on-cash
- −16.7%
- Cap rate
- 2.5%
- DSCR
- 0.40×
Break-even
- Price that breaks even
- $227,060
- Rent that breaks even
- $6,124/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $2.67M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $559,900
- Cash to close
- $128,777
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$1,475/mo
- Cash-on-cash
- −13.7%
- Cap rate
- 3.2%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $282,693
- Rent that breaks even
- $5,392/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $2.13M
- Cash flow turns positive
- year 29
The deal
- Price
- $559,900
- Cash to close
- $128,777
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$1,772/mo
- Cash-on-cash
- −16.5%
- Cap rate
- 2.6%
- DSCR
- 0.41×
Break-even
- Price that breaks even
- $227,060
- Rent that breaks even
- $6,047/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $2.59M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $569,900
- Cash to close
- $159,572
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$1,339/mo
- Cash-on-cash
- −10.1%
- Cap rate
- 3.2%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $301,539
- Rent that breaks even
- $5,217/mo
Long run
- Year 30: property vs stocks
- $1.31M vs $2.22M
- Cash flow turns positive
- year 27
The deal
- Price
- $569,900
- Cash to close
- $159,572
- Price per unit
- $284,950
- GRM
- 13.6
Each month
- Cash flow
- −$1,635/mo
- Cash-on-cash
- −12.3%
- Cap rate
- 2.5%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $242,198
- Rent that breaks even
- $5,851/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $2.67M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $559,900
- Cash to close
- $156,772
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$1,289/mo
- Cash-on-cash
- −9.9%
- Cap rate
- 3.2%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $301,539
- Rent that breaks even
- $5,153/mo
Long run
- Year 30: property vs stocks
- $1.29M vs $2.14M
- Cash flow turns positive
- year 26
The deal
- Price
- $559,900
- Cash to close
- $156,772
- Price per unit
- $279,950
- GRM
- 13.3
Each month
- Cash flow
- −$1,585/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 2.6%
- DSCR
- 0.43×
Break-even
- Price that breaks even
- $242,198
- Rent that breaks even
- $5,780/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $2.59M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$3,412 |
| PMI | −$321 |
| Cash flow | −$2,228 |
| Principal paid down (equity, not cash) | $434 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$3,412 |
| PMI | −$321 |
| Cash flow | −$2,524 |
| Principal paid down (equity, not cash) | $434 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$3,353 |
| PMI | −$315 |
| Cash flow | −$2,163 |
| Principal paid down (equity, not cash) | $427 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$3,353 |
| PMI | −$315 |
| Cash flow | −$2,459 |
| Principal paid down (equity, not cash) | $427 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$3,033 |
| Cash flow | −$1,529 |
| Principal paid down (equity, not cash) | $386 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$3,033 |
| Cash flow | −$1,825 |
| Principal paid down (equity, not cash) | $386 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$2,980 |
| Cash flow | −$1,475 |
| Principal paid down (equity, not cash) | $379 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$2,980 |
| Cash flow | −$1,772 |
| Principal paid down (equity, not cash) | $379 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$2,844 |
| Cash flow | −$1,339 |
| Principal paid down (equity, not cash) | $362 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$2,844 |
| Cash flow | −$1,635 |
| Principal paid down (equity, not cash) | $362 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Net operating income | $1,505 |
| Mortgage (principal + interest) | −$2,794 |
| Cash flow | −$1,289 |
| Principal paid down (equity, not cash) | $355 |
| Rent | $3,500 |
| Vacancy (6%) | −$210 |
| Collected | $3,290 |
| Property tax Public record | −$775 |
| Insurance Estimate | −$220 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$280 |
| Capital reserve (8% of rent) | −$280 |
| Property management | −$296 |
| Net operating income | $1,209 |
| Mortgage (principal + interest) | −$2,794 |
| Cash flow | −$1,585 |
| Principal paid down (equity, not cash) | $355 |
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
- $1,300,299
- Rental profits, invested at 7%
- $0
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $512,910 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $563,969
- Monthly shortfalls, invested
- $1,739,673
$74,087 put into an index fund instead of the down payment and closing costs.
$444,376 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,003,343 ahead after 30 years.
- Your equity when you sell
- $1,300,299
- Rental profits, invested at 7%
- $0
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $512,910 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $563,969
- Monthly shortfalls, invested
- $2,200,256
$74,087 put into an index fund instead of the down payment and closing costs.
$613,421 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,463,926 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $0
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $503,910 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $554,073
- Monthly shortfalls, invested
- $1,670,060
$72,787 put into an index fund instead of the down payment and closing costs.
$422,550 you'd have paid in while the building lost money, invested instead.
Stocks come out $946,650 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $0
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $503,910 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $554,073
- Monthly shortfalls, invested
- $2,130,643
$72,787 put into an index fund instead of the down payment and closing costs.
$591,595 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,407,233 ahead after 30 years.
- Your equity when you sell
- $1,300,299
- Rental profits, invested at 7%
- $951
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $455,920 of loan.
$950 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $997,792
- Monthly shortfalls, invested
- $1,211,652
$131,077 put into an index fund instead of the down payment and closing costs.
$293,442 you'd have paid in while the building lost money, invested instead.
Stocks come out $908,194 ahead after 30 years.
- Your equity when you sell
- $1,300,299
- Rental profits, invested at 7%
- $0
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $455,920 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $997,792
- Monthly shortfalls, invested
- $1,671,284
$131,077 put into an index fund instead of the down payment and closing costs.
$461,538 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,368,776 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $2,273
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $447,920 of loan.
$2,227 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $980,283
- Monthly shortfalls, invested
- $1,152,643
$128,777 put into an index fund instead of the down payment and closing costs.
$275,559 you'd have paid in while the building lost money, invested instead.
Stocks come out $853,171 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $0
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $447,920 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $980,283
- Monthly shortfalls, invested
- $1,610,953
$128,777 put into an index fund instead of the down payment and closing costs.
$442,377 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,313,753 ahead after 30 years.
- Your equity when you sell
- $1,300,299
- Rental profits, invested at 7%
- $7,970
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $427,425 of loan.
$7,478 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,214,703
- Monthly shortfalls, invested
- $1,003,779
$159,572 put into an index fund instead of the down payment and closing costs.
$231,723 you'd have paid in while the building lost money, invested instead.
Stocks come out $910,213 ahead after 30 years.
- Your equity when you sell
- $1,300,299
- Rental profits, invested at 7%
- $0
Sells for $1,383,297 (value up 3% a year), minus 6% selling cost ($82,998). Rent paid down $427,425 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,214,703
- Monthly shortfalls, invested
- $1,456,392
$159,572 put into an index fund instead of the down payment and closing costs.
$393,290 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,370,795 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $11,043
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $419,925 of loan.
$10,189 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,193,388
- Monthly shortfalls, invested
- $950,292
$156,772 put into an index fund instead of the down payment and closing costs.
$216,471 you'd have paid in while the building lost money, invested instead.
Stocks come out $855,154 ahead after 30 years.
- Your equity when you sell
- $1,277,483
- Rental profits, invested at 7%
- $0
Sells for $1,359,024 (value up 3% a year), minus 6% selling cost ($81,541). Rent paid down $419,925 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,193,388
- Monthly shortfalls, invested
- $1,399,831
$156,772 put into an index fund instead of the down payment and closing costs.
$375,327 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,315,737 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 $1.30M, stocks $2.30M. Stocks win.
Year 30 (loan paid off): property $1.30M, stocks $2.76M. Stocks win.
Year 30 (loan paid off): property $1.28M, stocks $2.22M. Stocks win.
Year 30 (loan paid off): property $1.28M, stocks $2.68M. Stocks win.
Year 30 (loan paid off): property $1.30M, stocks $2.21M. Stocks win.
Year 30 (loan paid off): property $1.30M, stocks $2.67M. Stocks win.
Year 30 (loan paid off): property $1.28M, stocks $2.13M. Stocks win.
Year 30 (loan paid off): property $1.28M, stocks $2.59M. Stocks win.
Year 30 (loan paid off): property $1.31M, stocks $2.22M. Stocks win.
Year 30 (loan paid off): property $1.30M, stocks $2.67M. Stocks win.
Year 30 (loan paid off): property $1.29M, stocks $2.14M. Stocks win.
Year 30 (loan paid off): property $1.28M, stocks $2.59M. Stocks win.
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 / 1.5 bath estimate $1,750/mo · range $1,450–$2,050
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 811 28th Ave S, Minneapolis 55454 | $1,400 | 2 / 1 | 0.5 mi | 91% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 0.9 mi | 90% |
| 2643 12th Ave S, Unit 1, Minneapolis 55407 | $1,785 | 2 / 1 | 0.9 mi | 90% |
| 1311-1313 Franklin Ave SE, Minneapolis 55414 off market | $1,350 | 2 / 1 | 1.1 mi | 90% |
| 2424 Chicago Ave S, Minneapolis 55404 off market | $1,400 | 2 / 1 | 1.1 mi | 90% |
| 3220 Minnehaha Ave, Apt 1, Minneapolis 55406 off market | $1,850 | 2 / 2 | 1.2 mi | 87% |
| 2921 29th Ave S, Unit 6, Minneapolis 55406 off market | $1,897 | 2 / 1.5 | 0.9 mi | 82% |
| 2912 30th Ave S, Unit 1, Minneapolis 55406 off market | $1,897 | 2 / 1.5 | 0.9 mi | 82% |
| 1811 E 28th St, Minneapolis 55407 off market | $1,475 | 2 / 1 | 0.7 mi | 82% |
| 2323 16th Ave S, Minneapolis 55404 | $995 | 1 / 1 | 0.5 mi | 81% |
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
- highThe $3,400 income comes from furnished, short-term-style rentals, which are less stable than standard leases and may not fit a rental license. Listing says: Lower unit is currently used as two separate 'Furnished Finders' rentals. · AI review
- highThe $3,400 is far above our $1,350 long-term estimate for a unit this size. It likely won't hold with a conventional tenant. Based on: data: rent_estimate · 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 2208 MILWAUKEE AVE
- mediumBought for $475,900 in Oct 2024; asking is 20% more 24 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 3602924210321: last sale 2024-10-01, $475,900
- mediumAsking is $287,207 above the price where cash flow breaks even ($282,693) at the default scenario. Based on: Derived: price $569,900 vs. break-even $282,693
- mediumProperty taxes are non-homestead at $9,299 a year, a heavy load for the rents these units support. Based on: data: county.tax · AI review
- mediumThe unit count and layout are unclear. The lower unit is carved into two rentals, which may not match the legal duplex configuration. Listing says: Upper 2 floors are 1 unit, lower 2 floors are another. · AI review
Opportunities
- Owner-occupying the efficiency unit would offset the mortgage with rent from the other lower rental. Listing says: The large efficiency unit could be owner-occupied at closing · AI review
- Systems were recently updated, which lowers near-term capital spending. Listing says: The two water heaters and the two furnaces were new in 2021 · AI review
- No rent cap in Minneapolis, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Can you share the actual rent roll and 12 months of deposits for the furnished rentals?
- Is the building licensed as a rental in Minneapolis, and when was it last inspected?
- Why is the price $94K above the October 2024 sale?
- What was done to the property since then?
- What do furnished-rental occupancy and turnover look like through the winter?
- Who owns the furniture, and does it convey with the sale?
- What are the actual utility costs, and how are they split between units?
Bottom line
Only works as an owner-occupied buy with proven furnished-rental income; as a pure investment it loses over $1,500 a month at asking. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $9,299 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,645 |
| 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 $475,900 on 2024-10-30; listed for rent at $1,200/mo on 2021-09-14.
| Date | Event | Price |
|---|---|---|
| Listed | $569,900 | |
| Sold | $475,900 | |
| Price changed | $475,900 | |
| Price changed | $499,000 | |
| Price changed | $520,000 | |
| Listed | $550,000 | |
| Removed | — | |
| Listed for rent | $1,200/mo | |
| Sold public record | $179,400 | |
| Sold public record | $131,250 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $489,700 |
| Property tax | $9,299 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-10-01 · $475,900 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 94, about 416 m away.
Crime in Seward
518 incidents in the last 12 months (69 per 1,000 residents), +1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).