2317 Garfield Ave
Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 2,598 sq ft
Minneapolis, MN · Whittier · View the listing ↗
Photos courtesy of Exp Realty - Broker, via Realtor.com.
Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.
- Asking price
- $396,000 2 units · $198K per unit
- Monthly cash flow
- −$594 at 20% down, 7%
- Break-even price
- $284,334 where cash flow hits $0
First look
The listing calls this a triplex with an 8.7% cap and 19.3% CoC, but the county records it as a duplex and the city rental license covers one unit. Our numbers at $396K ask show a 4.5% cap and about -$614/month cash flow, and break-even is near $281K. The 'Total Gross Rent: $4,650+' is built from projected rents and units that need walls, a door and a finished kitchen, so none of it is income yet. The seller-financing terms ($2,000 P&I, 5.9%, 7-year term, 10% down) are the real hook, but a 7-year term likely means a balloon or refinance. Verify the legal unit count, get the actual rent roll, and read the contract for deed terms before a showing. Only worth a visit if the price and unit count hold up.
Things to consider
- Unit count is unverified Rent and value depend on three legal units. The county shows two and the license covers one.
- Price is far above break-even Our numbers show negative cash flow of about $614/month at asking, with break-even about $115K lower.
- Projected rents are not income The $4,650 gross includes units that need walls, a door and a kitchen. Underwrite only verified rents.Listing says: “Total Gross Rent: $4,650+”
- Contract for deed risk The balloon at year 7 and the seller's underlying loan create refinance and title risk. Have a lawyer review it.Listing says: “7-Year Term with Option to Extend”
- Recent systems work lowers capex New roof, electrical and plumbing reduce surprises, but ask for permits and receipts.Listing says: “2021 - Installed new Roof & Gutters”
- Tax bill is non-homestead Taxes are already at the investor rate, but confirm the amount and the special assessments.
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
- doneRoof and gutters replaced 2021Listing says: 2021 - Installed new Roof & Gutters
- doneKitchens, bathrooms, paint and floors refinished 2022Listing says: 2022 - Updated Kitchens, Bathrooms, Painting & Floors refinished
- doneElectrical updated and 3 separate meters installed 2022Listing says: 2022 -Updated Electrical inside at installed 3 separate meters
- donePlumbing to kitchens and bathrooms updated 2022Listing says: 2022 - Updated Plumbing to Kitchens & Bathrooms
- doneWater heater updated 2015Listing says: 2015 - Updated Hot Water Heater
- doneBoiler from 2006, serviced regularlyListing says: 2006 - Modern Boiler that has been serviced regularly
- neededThird-level kitchen unfinished and flooring needs updatingListing says: need to finish Kitchen and update the flooring
- neededFirst level needs walls and a door to make it a 2-bedListing says: (Need to Add Walls and a Door)
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
- $396,000
- Cash to close
- $51,480
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$1,081/mo
- Cash-on-cash
- −25.2%
- Cap rate
- 4.6%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $231,037
- Rent that breaks even
- $4,803/mo
Long run
- Year 30: property vs stocks
- $978K vs $971K
- Cash flow turns positive
- year 19
The deal
- Price
- $396,000
- Cash to close
- $51,480
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$1,368/mo
- Cash-on-cash
- −31.9%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $187,124
- Rent that breaks even
- $5,396/mo
Long run
- Year 30: property vs stocks
- $906K vs $1.35M
- Cash flow turns positive
- year 28
The deal
- Price
- $386,000
- Cash to close
- $50,180
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$1,015/mo
- Cash-on-cash
- −24.3%
- Cap rate
- 4.7%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $231,037
- Rent that breaks even
- $4,718/mo
Long run
- Year 30: property vs stocks
- $969K vs $905K
- Cash flow turns positive
- year 18
The deal
- Price
- $386,000
- Cash to close
- $50,180
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$1,303/mo
- Cash-on-cash
- −31.2%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $187,124
- Rent that breaks even
- $5,301/mo
Long run
- Year 30: property vs stocks
- $886K vs $1.27M
- Cash flow turns positive
- year 27
The deal
- Price
- $396,000
- Cash to close
- $91,080
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$594/mo
- Cash-on-cash
- −7.8%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $284,334
- Rent that breaks even
- $4,172/mo
Long run
- Year 30: property vs stocks
- $1.05M vs $979K
- Cash flow turns positive
- year 14
The deal
- Price
- $396,000
- Cash to close
- $91,080
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$882/mo
- Cash-on-cash
- −11.6%
- Cap rate
- 3.7%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $230,291
- Rent that breaks even
- $4,687/mo
Long run
- Year 30: property vs stocks
- $925K vs $1.30M
- Cash flow turns positive
- year 23
The deal
- Price
- $386,000
- Cash to close
- $88,780
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$541/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 4.7%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $284,334
- Rent that breaks even
- $4,103/mo
Long run
- Year 30: property vs stocks
- $1.05M vs $921K
- Cash flow turns positive
- year 13
The deal
- Price
- $386,000
- Cash to close
- $88,780
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$829/mo
- Cash-on-cash
- −11.2%
- Cap rate
- 3.8%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $230,291
- Rent that breaks even
- $4,609/mo
Long run
- Year 30: property vs stocks
- $909K vs $1.23M
- Cash flow turns positive
- year 22
The deal
- Price
- $396,000
- Cash to close
- $110,880
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$463/mo
- Cash-on-cash
- −5.0%
- Cap rate
- 4.6%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $303,290
- Rent that breaks even
- $4,001/mo
Long run
- Year 30: property vs stocks
- $1.11M vs $1.03M
- Cash flow turns positive
- year 12
The deal
- Price
- $396,000
- Cash to close
- $110,880
- Price per unit
- $198,000
- GRM
- 9.7
Each month
- Cash flow
- −$750/mo
- Cash-on-cash
- −8.1%
- Cap rate
- 3.7%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $245,644
- Rent that breaks even
- $4,495/mo
Long run
- Year 30: property vs stocks
- $943K vs $1.32M
- Cash flow turns positive
- year 21
The deal
- Price
- $386,000
- Cash to close
- $108,080
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$413/mo
- Cash-on-cash
- −4.6%
- Cap rate
- 4.7%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $303,290
- Rent that breaks even
- $3,936/mo
Long run
- Year 30: property vs stocks
- $1.11M vs $980K
- Cash flow turns positive
- year 11
The deal
- Price
- $386,000
- Cash to close
- $108,080
- Price per unit
- $193,000
- GRM
- 9.5
Each month
- Cash flow
- −$700/mo
- Cash-on-cash
- −7.8%
- Cap rate
- 3.8%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $245,644
- Rent that breaks even
- $4,422/mo
Long run
- Year 30: property vs stocks
- $930K vs $1.25M
- Cash flow turns positive
- year 20
Monthly
Monthly breakdown
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$2,371 |
| PMI | −$223 |
| Cash flow | −$1,081 |
| Principal paid down (equity, not cash) | $302 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$2,371 |
| PMI | −$223 |
| Cash flow | −$1,368 |
| Principal paid down (equity, not cash) | $302 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$2,311 |
| PMI | −$217 |
| Cash flow | −$1,015 |
| Principal paid down (equity, not cash) | $294 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$2,311 |
| PMI | −$217 |
| Cash flow | −$1,303 |
| Principal paid down (equity, not cash) | $294 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$2,108 |
| Cash flow | −$594 |
| Principal paid down (equity, not cash) | $268 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$2,108 |
| Cash flow | −$882 |
| Principal paid down (equity, not cash) | $268 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$2,054 |
| Cash flow | −$541 |
| Principal paid down (equity, not cash) | $261 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$2,054 |
| Cash flow | −$829 |
| Principal paid down (equity, not cash) | $261 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$1,976 |
| Cash flow | −$463 |
| Principal paid down (equity, not cash) | $251 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,976 |
| Cash flow | −$750 |
| Principal paid down (equity, not cash) | $251 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Net operating income | $1,513 |
| Mortgage (principal + interest) | −$1,926 |
| Cash flow | −$413 |
| Principal paid down (equity, not cash) | $245 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$650 |
| Insurance Estimate | −$225 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (9% of rent) | −$306 |
| Property management | −$288 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,926 |
| Cash flow | −$700 |
| Principal paid down (equity, not cash) | $245 |
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
- $903,524
- Rental profits, invested at 7%
- $74,639
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $356,400 of loan.
$58,059 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $391,879
- Monthly shortfalls, invested
- $579,036
$51,480 put into an index fund instead of the down payment and closing costs.
$112,034 you'd have paid in while the building lost money, invested instead.
The building comes out $7,248 ahead after 30 years.
- Your equity when you sell
- $903,524
- Rental profits, invested at 7%
- $2,468
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $356,400 of loan.
$2,397 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $391,879
- Monthly shortfalls, invested
- $954,288
$51,480 put into an index fund instead of the down payment and closing costs.
$220,587 you'd have paid in while the building lost money, invested instead.
Stocks come out $440,175 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $88,395
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $347,400 of loan.
$67,082 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,983
- Monthly shortfalls, invested
- $523,179
$50,180 put into an index fund instead of the down payment and closing costs.
$99,231 you'd have paid in while the building lost money, invested instead.
The building comes out $63,941 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $4,961
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $347,400 of loan.
$4,702 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,983
- Monthly shortfalls, invested
- $887,168
$50,180 put into an index fund instead of the down payment and closing costs.
$201,066 you'd have paid in while the building lost money, invested instead.
Stocks come out $383,482 ahead after 30 years.
- Your equity when you sell
- $903,524
- Rental profits, invested at 7%
- $148,926
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $316,800 of loan.
$103,304 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $693,324
- Monthly shortfalls, invested
- $285,762
$91,080 put into an index fund instead of the down payment and closing costs.
$51,741 you'd have paid in while the building lost money, invested instead.
The building comes out $73,364 ahead after 30 years.
- Your equity when you sell
- $903,524
- Rental profits, invested at 7%
- $21,182
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $316,800 of loan.
$18,381 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $693,324
- Monthly shortfalls, invested
- $605,441
$91,080 put into an index fund instead of the down payment and closing costs.
$131,034 you'd have paid in while the building lost money, invested instead.
Stocks come out $374,059 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $168,964
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $308,800 of loan.
$114,269 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $675,816
- Monthly shortfalls, invested
- $245,468
$88,780 put into an index fund instead of the down payment and closing costs.
$43,546 you'd have paid in while the building lost money, invested instead.
The building comes out $128,388 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $27,853
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $308,800 of loan.
$23,560 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $675,816
- Monthly shortfalls, invested
- $551,781
$88,780 put into an index fund instead of the down payment and closing costs.
$117,052 you'd have paid in while the building lost money, invested instead.
Stocks come out $319,036 ahead after 30 years.
- Your equity when you sell
- $903,524
- Rental profits, invested at 7%
- $202,421
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $297,000 of loan.
$131,649 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $844,047
- Monthly shortfalls, invested
- $189,937
$110,880 put into an index fund instead of the down payment and closing costs.
$32,664 you'd have paid in while the building lost money, invested instead.
The building comes out $71,961 ahead after 30 years.
- Your equity when you sell
- $903,524
- Rental profits, invested at 7%
- $39,908
Sells for $961,196 (value up 3% a year), minus 6% selling cost ($57,672). Rent paid down $297,000 of loan.
$32,457 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $844,047
- Monthly shortfalls, invested
- $474,847
$110,880 put into an index fund instead of the down payment and closing costs.
$97,687 you'd have paid in while the building lost money, invested instead.
Stocks come out $375,462 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $226,283
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $289,500 of loan.
$143,435 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $822,733
- Monthly shortfalls, invested
- $157,238
$108,080 put into an index fund instead of the down payment and closing costs.
$26,486 you'd have paid in while the building lost money, invested instead.
The building comes out $127,020 ahead after 30 years.
- Your equity when you sell
- $880,708
- Rental profits, invested at 7%
- $49,043
Sells for $936,923 (value up 3% a year), minus 6% selling cost ($56,215). Rent paid down $289,500 of loan.
$38,884 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $822,733
- Monthly shortfalls, invested
- $427,422
$108,080 put into an index fund instead of the down payment and closing costs.
$86,150 you'd have paid in while the building lost money, invested instead.
Stocks come out $320,404 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 $978K, stocks $971K. The property wins.
Year 30 (loan paid off): property $906K, stocks $1.35M. Stocks win.
Year 30 (loan paid off): property $969K, stocks $905K. The property wins.
Year 30 (loan paid off): property $886K, stocks $1.27M. Stocks win.
Year 30 (loan paid off): property $1.05M, stocks $979K. The property wins.
Year 30 (loan paid off): property $925K, stocks $1.30M. Stocks win.
Year 30 (loan paid off): property $1.05M, stocks $921K. The property wins.
Year 30 (loan paid off): property $909K, stocks $1.23M. Stocks win.
Year 30 (loan paid off): property $1.11M, stocks $1.03M. The property wins.
Year 30 (loan paid off): property $943K, stocks $1.32M. Stocks win.
Year 30 (loan paid off): property $1.11M, stocks $980K. The property wins.
Year 30 (loan paid off): property $930K, stocks $1.25M. 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 $1,825/mo · range $1,675–$2,000 · 9 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2305 Garfield Ave Unit 201, Minneapolis | $2,300 | 3 / 1 | 0.0 mi |
| 2415 Harriet Ave, Minneapolis | $1,695 | 3 / 1 | 0.1 mi |
| 2200 Harriet Ave S, Minneapolis | $1,850 | 3 / 1 | 0.1 mi |
| 400 W Franklin Ave Apt 2, Minneapolis | $1,495 | 3 / 2 | 0.3 mi |
| 905 Franklin Ave W, Minneapolis | $1,745 | 3 / 1 | 0.3 mi |
| 2550 Pillsbury Ave S, Minneapolis | $1,950 | 3 / 2 | 0.3 mi |
| 711 W 28th St, Minneapolis | $1,595 | 3 / 1 | 0.6 mi |
| 307 15th St W, Minneapolis | $1,595 | 3 / 1 | 0.6 mi |
| 200 E 27th St, Minneapolis | $1,835 | 3 / 1 | 0.7 mi |
2 bed estimate $1,575/mo · range $1,350–$2,000 · 25 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2400 Harriet Ave, Minneapolis | $1,295 | 2 / 1 | 0.1 mi |
| 2309 Lyndale Ave S, Minneapolis | $2,199 | 2 / 2 | 0.1 mi |
| 2121 Garfield Ave, Minneapolis | $1,375 | 2 / 1 | 0.1 mi |
| 2122 Grand Ave S, Minneapolis | $1,199 | 2 / 1 | 0.1 mi |
| 2300 Pleasant Ave, Minneapolis | $1,300 | 2 / 1 | 0.1 mi |
| 2101 Garfield Ave, Minneapolis | $1,300 | 2 / 1 | 0.2 mi |
| 2002 Garfield Ave S, Minneapolis | $1,295 | 2 / 1 | 0.2 mi |
| 2525 Harriet Ave, Minneapolis | $1,495 | 2 / 1 | 0.2 mi |
| 2000 Lyndale Ave S, Minneapolis | $1,955 | 2 / 2 | 0.2 mi |
| 305 W Franklin Ave, Minneapolis | $1,225 | 2 / 1 | 0.2 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
- highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 2317 GARFIELD AVE, units=1
- highUnusual ownership (land trust, ground lease or co-op): resale price limits or lease terms can cap your upside. Listing says: "line, SK Coffee, Learning Tower of Pizza, Wedge Coop , and only 5 blocks to Eat Street"
- highMarketed as a triplex but county says duplex and the license covers one unit. The third unit may not be legal. Listing says: UPTOWN TRIPLEX, Seller Financing with 10% Down @ only 5.9% on a CONTRACT for DEED · AI review
- highHeadline cap rate and CoC rely on projected rents, including units needing construction. Our cap rate is far lower. Listing says: 8.7% Cap & 19.3% CoC · AI review
- mediumContract for deed: seller keeps title, and the 7-year term likely ends in a balloon or refinance. Get an attorney to review the terms. Listing says: 7-Year Term with Option to Extend, $2,000 Monthly Payment (P&I) · AI review
- mediumARV claim is speculative and well above the county market value of $410,800. Listing says: ARV = $525K to $575K+ · AI review
- low$202 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 3402924220169: special assessments (current) = $202.14
Opportunities
- Seller financing at 5.9% with low down payment could beat bank rates, if the price comes down. Listing says: Available on a Contract for Deed at 5.9% with 10% Down · AI review
- Recent roof, electrical, plumbing and separate meters reduce near-term capex and let tenants pay their own electric. Listing says: 2022 -Updated Electrical inside at installed 3 separate meters · AI review
- Off-street parking and fenced yard help with tenant appeal. Listing says: 4 off-street parking spots · AI review
Questions for the agent
- How many units are legally licensed and permitted? Was the third-floor unit ever permitted?
- What are the actual current rents, lease types and a trailing-12 of expenses?
- Who holds the underlying mortgage, and does it allow a contract for deed? What happens at year 7?
- Who owns the property, and why is it held in a trust or similar structure?
- What are the $202 special assessments for, and will the seller pay them?
- Who pays heat? Is there one boiler for the whole building?
Bottom line
The creative financing is interesting, but the unit count is unverified, the rents are projections, and at $396K the numbers lose money. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $7,801 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,694 |
| 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 1909: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-10-02 (3 days); last sold for $350,000 on 2021-02-04.
| Date | Event | Price |
|---|---|---|
| Listed | $396,000 | |
| Removed | $375,000 | |
| Sold public record | $350,000 | |
| Sold | $350,000 | |
| Listed | $350,000 | |
| Sold public record | $298,500 | |
| Sold public record | $298,500 | |
| Sold public record | $95,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1909 |
| Market value (2026) | $410,800 |
| Property tax | $7,801 |
| Special assessments | $202 |
| Homestead | no |
| Last sale | 2020-12-01 · $350,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 1 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 94;MN 55, about 551 m away.
Crime in Whittier
1,136 incidents in the last 12 months (76 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).