2221 Bloomington Ave
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 3,286 sq ft
Minneapolis, MN · Ventura Village · View the listing ↗
Photos courtesy of Keller Williams Classic Realty Northwest, via Realtor.com.
- Asking price
- $399,999 2 units · $200K per unit
- Monthly cash flow
- −$453 at 20% down, 7%
- Break-even price
- $314,842 where cash flow hits $0
First look
This is a pretty 1904 Minneapolis duplex, but the numbers don't work at $399,999. Our model has it losing about $453 a month with a 5.0% cap rate, and break-even is near $314,842. It sold for $394,000 in December 2024, so the seller is asking roughly what they paid, and it has sat 79 days after a failed deal ("Back on the Market"). The description gives no rents, no tenant status and no heat or utility details, and it pitches the unfinished third floor and basement as upside, which is really cost and permit risk. Don't tour until you know the rent roll, whether the rental license exists, and the real condition of the upper unit, which is the one the photos don't show.
Things to consider
- Price is far above what the rents support The model shows negative cash flow of $453 a month and break-even at $314,842, so you would be buying at a large premium to income.
- No rents or tenant info given Without a rent roll you can't verify income, and our estimates of $1,775 per 3-bed unit are only estimates.
- Seller is asking about what they paid in late 2024 A flat price after 79 days suggests room to negotiate, but a seller who paid $394,000 may resist a big cut.
- Rental license is missing from city data An unlicensed building can mean inspection costs or delays in renting legally.
- Unfinished space is cost, not income Gutted basement and third floor need permitted work before they add rent; budget and timeline are unknown.Listing says: “The insulated basement and unfinished third floor have already been taken down to the studs”
- Taxes are high as an investor property The $7,902 non-homestead tax bill weighs on a cap rate that is already thin.
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
- doneNewer roof and guttersListing says: a newer roof and gutters, new basement and attic windows
- doneNew basement and attic windowsListing says: a newer roof and gutters, new basement and attic windows
- doneMain-level unit renovated with stainless steel appliancesListing says: a beautifully renovated main-level unit featuring stainless steel appliances
- neededBasement and third floor gutted to studs, unfinishedListing says: The insulated basement and unfinished third floor have already been taken down to the studs
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
- $399,999
- Cash to close
- $52,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$944/mo
- Cash-on-cash
- −21.8%
- Cap rate
- 5.0%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $255,827
- Rent that breaks even
- $4,745/mo
Long run
- Year 30: property vs stocks
- $1.06M vs $828K
- Cash flow turns positive
- year 15
The deal
- Price
- $399,999
- Cash to close
- $52,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$1,245/mo
- Cash-on-cash
- −28.7%
- Cap rate
- 4.1%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $209,976
- Rent that breaks even
- $5,315/mo
Long run
- Year 30: property vs stocks
- $937K vs $1.17M
- Cash flow turns positive
- year 24
The deal
- Price
- $389,999
- Cash to close
- $50,700
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$879/mo
- Cash-on-cash
- −20.8%
- Cap rate
- 5.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $255,827
- Rent that breaks even
- $4,662/mo
Long run
- Year 30: property vs stocks
- $1.06M vs $769K
- Cash flow turns positive
- year 14
The deal
- Price
- $389,999
- Cash to close
- $50,700
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$1,179/mo
- Cash-on-cash
- −27.9%
- Cap rate
- 4.2%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $209,976
- Rent that breaks even
- $5,222/mo
Long run
- Year 30: property vs stocks
- $921K vs $1.10M
- Cash flow turns positive
- year 23
The deal
- Price
- $399,999
- Cash to close
- $92,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$453/mo
- Cash-on-cash
- −5.9%
- Cap rate
- 5.0%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $314,842
- Rent that breaks even
- $4,124/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $871K
- Cash flow turns positive
- year 11
The deal
- Price
- $399,999
- Cash to close
- $92,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$754/mo
- Cash-on-cash
- −9.8%
- Cap rate
- 4.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $258,415
- Rent that breaks even
- $4,618/mo
Long run
- Year 30: property vs stocks
- $980K vs $1.15M
- Cash flow turns positive
- year 19
The deal
- Price
- $389,999
- Cash to close
- $89,700
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$400/mo
- Cash-on-cash
- −5.4%
- Cap rate
- 5.2%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $314,842
- Rent that breaks even
- $4,056/mo
Long run
- Year 30: property vs stocks
- $1.18M vs $821K
- Cash flow turns positive
- year 10
The deal
- Price
- $389,999
- Cash to close
- $89,700
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$700/mo
- Cash-on-cash
- −9.4%
- Cap rate
- 4.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $258,415
- Rent that breaks even
- $4,543/mo
Long run
- Year 30: property vs stocks
- $969K vs $1.08M
- Cash flow turns positive
- year 18
The deal
- Price
- $399,999
- Cash to close
- $112,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$320/mo
- Cash-on-cash
- −3.4%
- Cap rate
- 5.0%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $335,831
- Rent that breaks even
- $3,955/mo
Long run
- Year 30: property vs stocks
- $1.25M vs $948K
- Cash flow turns positive
- year 8
The deal
- Price
- $399,999
- Cash to close
- $112,000
- Price per unit
- $200,000
- GRM
- 9.4
Each month
- Cash flow
- −$621/mo
- Cash-on-cash
- −6.6%
- Cap rate
- 4.1%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $275,642
- Rent that breaks even
- $4,430/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $1.18M
- Cash flow turns positive
- year 16
The deal
- Price
- $389,999
- Cash to close
- $109,200
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$270/mo
- Cash-on-cash
- −3.0%
- Cap rate
- 5.2%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $335,831
- Rent that breaks even
- $3,892/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $903K
- Cash flow turns positive
- year 7
The deal
- Price
- $389,999
- Cash to close
- $109,200
- Price per unit
- $195,000
- GRM
- 9.2
Each month
- Cash flow
- −$571/mo
- Cash-on-cash
- −6.3%
- Cap rate
- 4.2%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $275,642
- Rent that breaks even
- $4,359/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $1.12M
- Cash flow turns positive
- year 15
Monthly
Monthly breakdown
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$2,395 |
| PMI | −$225 |
| Cash flow | −$944 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$2,395 |
| PMI | −$225 |
| Cash flow | −$1,245 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$879 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$1,179 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$2,129 |
| Cash flow | −$453 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$2,129 |
| Cash flow | −$754 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$2,076 |
| Cash flow | −$400 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$2,076 |
| Cash flow | −$700 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$320 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$621 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Net operating income | $1,676 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | −$270 |
| Principal paid down (equity, not cash) | $248 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$658 |
| Insurance Estimate | −$240 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$249 |
| Capital reserve (8% of rent) | −$284 |
| Property management | −$300 |
| Net operating income | $1,375 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | −$571 |
| Principal paid down (equity, not cash) | $248 |
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
- $912,649
- Rental profits, invested at 7%
- $150,139
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $359,999 of loan.
$106,418 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,836
- Monthly shortfalls, invested
- $432,021
$52,000 put into an index fund instead of the down payment and closing costs.
$77,592 you'd have paid in while the building lost money, invested instead.
The building comes out $234,930 ahead after 30 years.
- Your equity when you sell
- $912,649
- Rental profits, invested at 7%
- $23,877
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $359,999 of loan.
$20,777 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,836
- Monthly shortfalls, invested
- $772,923
$52,000 put into an index fund instead of the down payment and closing costs.
$163,411 you'd have paid in while the building lost money, invested instead.
Stocks come out $232,233 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $170,812
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $350,999 of loan.
$118,129 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,940
- Monthly shortfalls, invested
- $383,082
$50,700 put into an index fund instead of the down payment and closing costs.
$67,478 you'd have paid in while the building lost money, invested instead.
The building comes out $291,622 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $31,194
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $350,999 of loan.
$26,491 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,940
- Monthly shortfalls, invested
- $710,627
$50,700 put into an index fund instead of the down payment and closing costs.
$147,299 you'd have paid in while the building lost money, invested instead.
Stocks come out $175,540 ahead after 30 years.
- Your equity when you sell
- $912,649
- Rental profits, invested at 7%
- $259,691
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $319,999 of loan.
$164,005 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,326
- Monthly shortfalls, invested
- $170,301
$92,000 put into an index fund instead of the down payment and closing costs.
$28,576 you'd have paid in while the building lost money, invested instead.
The building comes out $301,713 ahead after 30 years.
- Your equity when you sell
- $912,649
- Rental profits, invested at 7%
- $67,192
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $319,999 of loan.
$52,077 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,326
- Monthly shortfalls, invested
- $444,965
$92,000 put into an index fund instead of the down payment and closing costs.
$88,108 you'd have paid in while the building lost money, invested instead.
Stocks come out $165,450 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $287,969
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $311,999 of loan.
$177,320 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,818
- Monthly shortfalls, invested
- $138,247
$89,700 put into an index fund instead of the down payment and closing costs.
$22,730 you'd have paid in while the building lost money, invested instead.
The building comes out $356,736 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $79,631
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $311,999 of loan.
$60,192 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,818
- Monthly shortfalls, invested
- $397,072
$89,700 put into an index fund instead of the down payment and closing costs.
$77,061 you'd have paid in while the building lost money, invested instead.
Stocks come out $110,426 ahead after 30 years.
- Your equity when you sell
- $912,649
- Rental profits, invested at 7%
- $335,359
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $299,999 of loan.
$198,489 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,570
- Monthly shortfalls, invested
- $95,142
$112,000 put into an index fund instead of the down payment and closing costs.
$15,158 you'd have paid in while the building lost money, invested instead.
The building comes out $300,296 ahead after 30 years.
- Your equity when you sell
- $912,649
- Rental profits, invested at 7%
- $101,259
Sells for $970,903 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $299,999 of loan.
$73,602 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,570
- Monthly shortfalls, invested
- $328,204
$112,000 put into an index fund instead of the down payment and closing costs.
$61,731 you'd have paid in while the building lost money, invested instead.
Stocks come out $166,867 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $368,218
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $292,499 of loan.
$212,443 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,256
- Monthly shortfalls, invested
- $71,439
$109,200 put into an index fund instead of the down payment and closing costs.
$11,149 you'd have paid in while the building lost money, invested instead.
The building comes out $355,355 ahead after 30 years.
- Your equity when you sell
- $889,832
- Rental profits, invested at 7%
- $116,790
Sells for $946,630 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $292,499 of loan.
$82,759 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,256
- Monthly shortfalls, invested
- $287,175
$109,200 put into an index fund instead of the down payment and closing costs.
$52,925 you'd have paid in while the building lost money, invested instead.
Stocks come out $111,809 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 $1.06M, stocks $828K. The property wins.
Year 30 (loan paid off): property $937K, stocks $1.17M. Stocks win.
Year 30 (loan paid off): property $1.06M, stocks $769K. The property wins.
Year 30 (loan paid off): property $921K, stocks $1.10M. Stocks win.
Year 30 (loan paid off): property $1.17M, stocks $871K. The property wins.
Year 30 (loan paid off): property $980K, stocks $1.15M. Stocks win.
Year 30 (loan paid off): property $1.18M, stocks $821K. The property wins.
Year 30 (loan paid off): property $969K, stocks $1.08M. Stocks win.
Year 30 (loan paid off): property $1.25M, stocks $948K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $1.18M. Stocks win.
Year 30 (loan paid off): property $1.26M, stocks $903K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $1.12M. 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.
3 bed estimate $1,775/mo · range $1,475–$2,050 · 6 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2500 17th Ave S Unit 2, Minneapolis | $1,200 | 3 / 1 | 0.2 mi |
| 2407 Elliot Upper Ave Unit Elliot, Minneapolis | $2,300 | 3 / 1 | 0.5 mi |
| 912 E 25th St Apt 2, Minneapolis | $1,695 | 3 / 1 | 0.5 mi |
| 912 E 25th St Apt 3, Minneapolis | $1,675 | 3 / 1 | 0.5 mi |
| 2742 18th Ave S, Minneapolis | $1,850 | 3 / 1 | 0.6 mi |
| 735 E 16th St, Minneapolis | $1,466 | 3 / 1 | 0.7 mi |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- 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 2221 BLOOMINGTON AVE
- mediumUpper unit condition is not described and not shown; the 'renovated' claim covers only the main level Listing says: a beautifully renovated main-level unit featuring stainless steel appliances · AI review
- mediumFinished-space upside depends on permits, egress and a legal rental license; work was stripped to studs, not finished Listing says: The insulated basement and unfinished third floor have already been taken down to the studs · AI review
- mediumPrevious deal fell through; ask why (inspection, financing, appraisal) Listing says: Back on the Market! Don't miss your second chance to own this stunning historic duplex · AI review
- lowHighway is about 315 m away; noise and resale appeal worth checking Based on: data: highway · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 82 days on market, 3 price cuts
- Finish the basement or third floor for added rent, if it can be done legally and the cost pencils Listing says: providing an incredible opportunity to create additional living space, expand rental income · AI review
- Minneapolis has no rent cap, so rents can follow the market after upgrades Based on: data: underwriting.rent_rule · AI review
- Long time on market and a flat price since the 2024 sale give room to negotiate hard Based on: data: listing.days_on_market · AI review
Questions for the agent
- Why did the prior deal fall through, and was there an inspection or appraisal issue?
- Is the upper unit occupied, at what rent, and on what lease? Can I see the rent roll?
- Is the building licensed as a rental in Minneapolis, and when was it last inspected?
- Do the basement and third-floor buildouts have permits, and would the finished space meet egress and code for a legal unit?
- What is the heating setup: how many boilers, who pays, and how old are they?
- What are the electrical panel type and amperage, and what are the age and condition of the plumbing?
Bottom line
Handsome old duplex, but asking is about $85K above break-even and the rents, rental license and upper unit are all unknown, so negotiate hard or pass. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $7,902 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,884 |
| 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. built 1904: +1 pt capital reserve; "fully renovated" in the description: -1 pts each | 7% / 8% |
Price history Realtor.com
On the market since 2026-03-06 (213 days, relisted 1×); down $65,001 (14.0%) from the first ask of $465,000; last sold for $394,000 on 2024-12-16.
| Date | Event | Price |
|---|---|---|
| Removed | $515,000 | |
| Price changed | $399,999 | |
| Price changed | $405,000 | |
| Listed | $415,000 | |
| Removed | $489,900 | |
| Removed | $430,000 | |
| Removed | — | |
| Price changed | $430,000 | |
| Price changed | $440,000 | |
| Price changed | $450,000 | |
| Listed | $465,000 | |
| Sold | $394,000 | |
| Price changed | $399,000 | |
| Listed | $415,000 | |
| Sold | $385,000 | |
| Listed | $395,000 | |
| Sold | $305,000 | |
| Listed | $295,900 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1904 |
| Market value (2026) | $416,100 |
| Property tax | $7,902 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-12-01 · $394,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
MN 55, about 315 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).