226 Gramercy Ave
Triplex · 3 units: 2 bed / 1 bath and 1 bed / 1 bath ×2 unit split estimated · 2,664 sq ft
Minneapolis, MN · Harrison · View the listing ↗
Photos courtesy of Edina Realty, Inc., via Realtor.com.
- Asking price
- $400,000 3 units · $133K per unit
- Monthly cash flow
- $72 at 20% down, 7%
- Estimated rent
- $4,450/mo medium confidence
- Break-even price
- $413,453 where cash flow hits $0
First look
This Minneapolis triplex at $400K shows about $72/month of cash flow and a 6.6% cap on our estimates with 20% down. That is thin, and it rests on our rent guesses because the listing gives no actual rents. Two of three units are vacant, so you carry the lease-up risk and the first-year turnover costs. The 2018 roof, 2021 furnaces and 2023 insulation help, but get receipts and a rent roll before a showing. Worth a look only if you can negotiate down or plan to live in one unit.
Things to consider
- Cash flow is thin at the asking price About $72/month at 20% down leaves no cushion for vacancy or repairs. Our break-even price is about $413K, so any price cut or lower rate helps a lot.
- Two units are vacant, so income is unproven Our rents are estimates. Real lease-up time and achieved rents decide whether this works.Listing says: “a 1 bedroom and a studio ready for new tenants”
- The 3BR tenant is month-to-month The tenant can leave on short notice, which could leave the whole building empty.Listing says: “currently leased month-to-month with 60-day notice”
- Seller's big gain gives room to negotiate They paid $190K in 2017 and have been listed 48 days, so they may take less.
- Recent capital work reduces near-term repair risk The roof, furnaces and paint are done, so early repairs should be smaller. Verify permits and receipts.Listing says: “new roof in 2018”
- Unit finishes are uneven across the building Dated kitchens in some units may cap rents or need updating before you can raise them.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.
Condition and repairs
- doneNew roofListing says: new roof in 2018
- doneTwo new upper-unit furnacesListing says: two new upper-unit furnaces in 2021
- doneExterior repaintingListing says: exterior repainting in 2023
- doneSpray foam wall insulation and added attic insulationListing says: extensive insulation upgrades in 2023, including spray foam insulation in the walls and added attic insulation
- doneUpdated bathroomsListing says: Updated bathrooms, classic hardwood floors
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
- $400,000
- Cash to close
- $52,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- −$420/mo
- Cash-on-cash
- −9.7%
- Cap rate
- 6.6%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $335,953
- Rent that breaks even
- $4,995/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $499K
- Cash flow turns positive
- year 5
The deal
- Price
- $400,000
- Cash to close
- $52,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- −$796/mo
- Cash-on-cash
- −18.4%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $278,479
- Rent that breaks even
- $5,611/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $702K
- Cash flow turns positive
- year 12
The deal
- Price
- $390,000
- Cash to close
- $50,700
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- −$354/mo
- Cash-on-cash
- −8.4%
- Cap rate
- 6.8%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $335,953
- Rent that breaks even
- $4,910/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $469K
- Cash flow turns positive
- year 5
The deal
- Price
- $390,000
- Cash to close
- $50,700
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- −$730/mo
- Cash-on-cash
- −17.3%
- Cap rate
- 5.6%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $278,479
- Rent that breaks even
- $5,516/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $651K
- Cash flow turns positive
- year 11
The deal
- Price
- $400,000
- Cash to close
- $92,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- $72/mo
- Cash-on-cash
- 0.9%
- Cap rate
- 6.6%
- DSCR
- 1.03×
Break-even
- Price that breaks even
- $413,453
- Rent that breaks even
- $4,357/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $700K
- Cash flow turns positive
- year 1
The deal
- Price
- $400,000
- Cash to close
- $92,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- −$305/mo
- Cash-on-cash
- −4.0%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $342,720
- Rent that breaks even
- $4,895/mo
Long run
- Year 30: property vs stocks
- $1.31M vs $783K
- Cash flow turns positive
- year 7
The deal
- Price
- $390,000
- Cash to close
- $89,700
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- $125/mo
- Cash-on-cash
- 1.7%
- Cap rate
- 6.8%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $413,453
- Rent that breaks even
- $4,288/mo
Long run
- Year 30: property vs stocks
- $1.85M vs $683K
- Cash flow turns positive
- year 1
The deal
- Price
- $390,000
- Cash to close
- $89,700
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- −$252/mo
- Cash-on-cash
- −3.4%
- Cap rate
- 5.6%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $342,720
- Rent that breaks even
- $4,817/mo
Long run
- Year 30: property vs stocks
- $1.32M vs $742K
- Cash flow turns positive
- year 6
The deal
- Price
- $400,000
- Cash to close
- $112,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- $205/mo
- Cash-on-cash
- 2.2%
- Cap rate
- 6.6%
- DSCR
- 1.10×
Break-even
- Price that breaks even
- $441,016
- Rent that breaks even
- $4,184/mo
Long run
- Year 30: property vs stocks
- $1.96M vs $853K
- Cash flow turns positive
- year 1
The deal
- Price
- $400,000
- Cash to close
- $112,000
- Price per unit
- $133,333
- GRM
- 7.5
Each month
- Cash flow
- −$172/mo
- Cash-on-cash
- −1.8%
- Cap rate
- 5.5%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $365,568
- Rent that breaks even
- $4,701/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $884K
- Cash flow turns positive
- year 5
The deal
- Price
- $390,000
- Cash to close
- $109,200
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- $255/mo
- Cash-on-cash
- 2.8%
- Cap rate
- 6.8%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $441,016
- Rent that breaks even
- $4,119/mo
Long run
- Year 30: property vs stocks
- $1.99M vs $831K
- Cash flow turns positive
- year 1
The deal
- Price
- $390,000
- Cash to close
- $109,200
- Price per unit
- $130,000
- GRM
- 7.3
Each month
- Cash flow
- −$122/mo
- Cash-on-cash
- −1.3%
- Cap rate
- 5.6%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $365,568
- Rent that breaks even
- $4,628/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $849K
- Cash flow turns positive
- year 4
Monthly
Monthly breakdown
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$2,395 |
| PMI | −$225 |
| Cash flow | −$420 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,395 |
| PMI | −$225 |
| Cash flow | −$796 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$354 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$730 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$2,129 |
| Cash flow | $72 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,129 |
| Cash flow | −$305 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$2,076 |
| Cash flow | $125 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,076 |
| Cash flow | −$252 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | $205 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$172 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Net operating income | $2,201 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | $255 |
| Principal paid down (equity, not cash) | $248 |
| Rent | $4,450 |
| Vacancy (6%) | −$267 |
| Collected | $4,183 |
| Property tax Public record | −$602 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$356 |
| Capital reserve (9% of rent) | −$400 |
| Property management | −$376 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | −$122 |
| 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
- $912,651
- Rental profits, invested at 7%
- $628,686
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $360,000 of loan.
$339,492 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,837
- Monthly shortfalls, invested
- $103,123
$52,000 put into an index fund instead of the down payment and closing costs.
$15,749 you'd have paid in while the building lost money, invested instead.
The building comes out $1,042,376 ahead after 30 years.
- Your equity when you sell
- $912,651
- Rental profits, invested at 7%
- $245,821
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $360,000 of loan.
$160,331 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,837
- Monthly shortfalls, invested
- $305,856
$52,000 put into an index fund instead of the down payment and closing costs.
$51,516 you'd have paid in while the building lost money, invested instead.
The building comes out $456,778 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $678,032
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $351,000 of loan.
$358,174 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,941
- Monthly shortfalls, invested
- $82,856
$50,700 put into an index fund instead of the down payment and closing costs.
$12,605 you'd have paid in while the building lost money, invested instead.
The building comes out $1,099,069 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $274,175
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $351,000 of loan.
$174,397 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,941
- Monthly shortfalls, invested
- $264,597
$50,700 put into an index fund instead of the down payment and closing costs.
$43,756 you'd have paid in while the building lost money, invested instead.
The building comes out $513,470 ahead after 30 years.
- Your equity when you sell
- $912,651
- Rental profits, invested at 7%
- $896,836
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $320,000 of loan.
$430,347 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,327
$92,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,109,160 ahead after 30 years.
- Your equity when you sell
- $912,651
- Rental profits, invested at 7%
- $393,627
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $320,000 of loan.
$228,318 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,327
- Monthly shortfalls, invested
- $82,388
$92,000 put into an index fund instead of the down payment and closing costs.
$12,900 you'd have paid in while the building lost money, invested instead.
The building comes out $523,561 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $957,168
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $312,000 of loan.
$449,508 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,819
$89,700 put into an index fund instead of the down payment and closing costs.
The building comes out $1,164,183 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $431,030
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $312,000 of loan.
$243,696 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,819
- Monthly shortfalls, invested
- $59,461
$89,700 put into an index fund instead of the down payment and closing costs.
$9,117 you'd have paid in while the building lost money, invested instead.
The building comes out $578,585 ahead after 30 years.
- Your equity when you sell
- $912,651
- Rental profits, invested at 7%
- $1,047,664
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $300,000 of loan.
$478,249 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,573
$112,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,107,742 ahead after 30 years.
- Your equity when you sell
- $912,651
- Rental profits, invested at 7%
- $493,588
Sells for $970,905 (value up 3% a year), minus 6% selling cost ($58,254). Rent paid down $300,000 of loan.
$268,008 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,573
- Monthly shortfalls, invested
- $31,522
$112,000 put into an index fund instead of the down payment and closing costs.
$4,688 you'd have paid in while the building lost money, invested instead.
The building comes out $522,144 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $1,104,225
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $292,500 of loan.
$496,212 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,258
$109,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,162,801 ahead after 30 years.
- Your equity when you sell
- $889,834
- Rental profits, invested at 7%
- $536,635
Sells for $946,632 (value up 3% a year), minus 6% selling cost ($56,798). Rent paid down $292,500 of loan.
$283,908 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,258
- Monthly shortfalls, invested
- $18,008
$109,200 put into an index fund instead of the down payment and closing costs.
$2,625 you'd have paid in while the building lost money, invested instead.
The building comes out $577,203 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 $1.54M, stocks $499K. The property wins.
Year 30 (loan paid off): property $1.16M, stocks $702K. The property wins.
Year 30 (loan paid off): property $1.57M, stocks $469K. The property wins.
Year 30 (loan paid off): property $1.16M, stocks $651K. The property wins.
Year 30 (loan paid off): property $1.81M, stocks $700K. The property wins.
Year 30 (loan paid off): property $1.31M, stocks $783K. The property wins.
Year 30 (loan paid off): property $1.85M, stocks $683K. The property wins.
Year 30 (loan paid off): property $1.32M, stocks $742K. The property wins.
Year 30 (loan paid off): property $1.96M, stocks $853K. The property wins.
Year 30 (loan paid off): property $1.41M, stocks $884K. The property wins.
Year 30 (loan paid off): property $1.99M, stocks $831K. The property wins.
Year 30 (loan paid off): property $1.43M, stocks $849K. 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 $1,600/mo · range $1,375–$1,800
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 155 Cedar Lake Rd N, Minneapolis 55405 off market | $1,100 | 2 / 1 | 0.1 mi | 94% |
| 1715 Glenwood Ave, Minneapolis 55405 off market | $1,260 | 2 / 1 | 0.1 mi | 94% |
| 314 Knox Ave N, Minneapolis 55405 off market | $1,375 | 2 / 1 | 0.1 mi | 94% |
| 238 Irving Ave N, Minneapolis 55405 off market | $1,360 | 2 / 1 | 0.1 mi | 94% |
| 506 Newton Ave N, Minneapolis 55405 off market | $1,400 | 2 / 1 | 0.3 mi | 94% |
| 2208-2210 Glenwood Ave, Minneapolis 55405 off market | $1,299 | 2 / 1 | 0.4 mi | 93% |
| 519 Russell Ave N, Apt 1, Minneapolis 55405 off market | $1,650 | 2 / 1 | 0.5 mi | 93% |
| 625 627 Penn Ave S, Minneapolis 55405 off market | $1,575 | 2 / 1 | 0.7 mi | 93% |
| 11 S 12th St, Minneapolis 55403 off market | $1,595 | 2 / 1 | 1.1 mi | 92% |
| 1407 N Girard Ave, Unit 2, Minneapolis 55411 off market | $1,900 | 2 / 1 | 1.0 mi | 88% |
1 bed / 1 bath estimate $1,425/mo · range $1,225–$1,625
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 224 Humboldt Ave N, Minneapolis 55405 off market | $1,099 | 1 / 1 | 0.2 mi | 94% |
| 1430 N Irving Ave, Rms 1 & 2, Minneapolis 55411 off market | $650 | 1 / 1 | 1.0 mi | 92% |
| 222 Logan Ave N, Apt 3, Minneapolis 55405 off market | $1,250 | 1 / 1 | 0.1 mi | 85% |
| 222 Logan Ave N, Apt 1, Minneapolis 55405 off market | $1,250 | 1 / 1 | 0.1 mi | 85% |
| 155 Cedar Lake Rd N, Minneapolis 55405 off market | $1,100 | 2 / 1 | 0.1 mi | 84% |
| 1715 Glenwood Ave, Minneapolis 55405 off market | $1,260 | 2 / 1 | 0.1 mi | 84% |
| 314 Knox Ave N, Minneapolis 55405 off market | $1,375 | 2 / 1 | 0.1 mi | 84% |
| 238 Irving Ave N, Minneapolis 55405 off market | $1,360 | 2 / 1 | 0.1 mi | 84% |
| 222 Logan Ave N, Apt 2, Minneapolis 55405 off market | $1,250 | 1 / 1 | 0.1 mi | 84% |
| 506 Newton Ave N, Minneapolis 55405 off market | $1,400 | 2 / 1 | 0.3 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
- mediumTwo of three units vacant, so income is unproven and lease-up is on the buyer Listing says: a 1 bedroom and a studio ready for new tenants · AI review
- mediumSpray foam in the walls of a 1912 house can trap moisture. Ask who did it and whether it was permitted Listing says: spray foam insulation in the walls and added attic insulation · AI review
- mediumThe listing gives no rents, so the 'strong rental history' claim cannot be checked Listing says: offering a strong rental history, consistent cash flow · AI review
- lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "potential! Features one spacious 3BR unit currently leased month-to-month with 60-day notice, plus a 1 bedroom and"
- lowProperty taxes are high at non-homestead rates and weigh on thin cash flow Based on: data: county.tax · AI review
Opportunities
- The seller bought for $190,000 in Aug 2017, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 2102924340168: last sale 2017-08-01, $190,000
- Owner-occupant angle: live in one unit and rent the others Listing says: excellent owner-occupant potential · AI review
- No rent cap in Minneapolis, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
- Detached garage and extra parking can support rent or a parking fee Listing says: a 2-car garage, and additional off-street parking · AI review
Questions for the agent
- What are the current rents, and what did the 3BR tenant pay over the last 2 years?
- What did the studio and 1BR rent for before they went vacant, and why are they empty?
- Who did the spray foam and furnace work? Were permits pulled?
- Is the lower unit furnace original, and how old is the water heater?
- What are trailing-12 utility and repair costs, and are meters fully separate?
- Is the studio legally licensed as a unit? Our records show a 3-unit rental license.
Bottom line
A clean, updated triplex, but at $400K the cash flow is almost nothing and two units are empty, so push on price or buy it to live in. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $7,229 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,703 |
| 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 2026-06-29 (98 days, relisted 1×); down $10,000 (2.4%) from the first ask of $410,000; last sold for $190,000 on 2017-08-18.
| Date | Event | Price |
|---|---|---|
| Listed | $400,000 | |
| Removed | $410,000 | |
| Sold public record | $190,000 | |
| Sold public record | $35,000 | |
| Sold public record | $35,000 |
County record Public record
| Recorded as | triplex |
| Living units | 3 |
| Year built | 1912 |
| Market value (2026) | $380,600 |
| Property tax | $7,229 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2017-08-01 · $190,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 394 EXPR, about 904 m away.
Crime in Harrison
245 incidents in the last 12 months (76 per 1,000 residents), +27% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).