2410 James Ave N
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,112 sq ft
Minneapolis, MN · Jordan · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $300,000 2 units · $150K per unit
- Monthly cash flow
- $477 at 20% down, 7%
- Estimated rent
- $3,750/mo medium confidence
- Break-even price
- $389,568 where cash flow hits $0
First look
This is a 3-bed/1-bath up/down in Jordan, Minneapolis, asking $300K, and the listing gives no rents. Our estimate of $1,875 per unit gives about $477/month cash flow and an 8.3% cap at ask, with break-even at $390K. That's a workable cushion, but it assumes the work is cosmetic and the Tier 2 license doesn't bring repair orders. The county values it at $235K, well under the ask, and the listing calls it turnkey while the photos show fresh paint and carpet over radiators and old trim. Before a showing, get the rent roll, the city's open violation list, and a look at the boiler and electrical. Worth a visit, and still push the seller on price.
Things to consider
- Positive but modest cash flow at ask About $477/month and an 8.3% cap leaves some cushion for repairs, vacancy or rate changes. Break-even is $390K, so ask sits well below it, but repair surprises could still erase the margin.
- Tier 2 license means inspection risk More frequent inspections and repair orders can add unplanned costs. Get the violation history before offering.
- Updates look cosmetic Paint, carpet and flooring are cheap to redo, but the big-ticket systems aren't described. Budget for a boiler, roof and electrical review.Listing says: “fresh interior paint, new flooring in the kitchens and bathrooms”
- Sale history doesn't add up A $516,877 sale in 2025 versus $235K county value and $300K ask suggests an unusual transaction. It affects pricing and the seller's motivation.
- Taxes are non-homestead The $4,448 tax bill is already at the non-homestead rate, which is what an investor pays. It's a real cost in the numbers.
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
- doneModern vinyl windowsListing says: Recent updates include modern vinyl windows, fresh interior paint
- doneNew flooring in kitchens and bathroomsListing says: new flooring in the kitchens and bathrooms
- doneNew carpet in living rooms and bedroomsListing says: new carpet throughout the living rooms and bedrooms
- doneUpdated deck/porchListing says: an updated deck/porch
- doneNew appliances in upper unit, not yet installedListing says: Brand-new appliances will be installed in the upper unit prior to closing
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
- $300,000
- Cash to close
- $39,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- $108/mo
- Cash-on-cash
- 3.3%
- Cap rate
- 8.3%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $316,546
- Rent that breaks even
- $3,609/mo
Long run
- Year 30: property vs stocks
- $1.75M vs $297K
- Cash flow turns positive
- year 1
The deal
- Price
- $300,000
- Cash to close
- $39,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- −$209/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 7.0%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $268,113
- Rent that breaks even
- $4,055/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $340K
- Cash flow turns positive
- year 5
The deal
- Price
- $290,000
- Cash to close
- $37,700
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- $174/mo
- Cash-on-cash
- 5.5%
- Cap rate
- 8.6%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $316,546
- Rent that breaks even
- $3,524/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $287K
- Cash flow turns positive
- year 1
The deal
- Price
- $290,000
- Cash to close
- $37,700
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- −$143/mo
- Cash-on-cash
- −4.6%
- Cap rate
- 7.3%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $268,113
- Rent that breaks even
- $3,959/mo
Long run
- Year 30: property vs stocks
- $1.32M vs $310K
- Cash flow turns positive
- year 4
The deal
- Price
- $300,000
- Cash to close
- $69,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- $477/mo
- Cash-on-cash
- 8.3%
- Cap rate
- 8.3%
- DSCR
- 1.30×
Break-even
- Price that breaks even
- $389,568
- Rent that breaks even
- $3,131/mo
Long run
- Year 30: property vs stocks
- $2.02M vs $525K
- Cash flow turns positive
- year 1
The deal
- Price
- $300,000
- Cash to close
- $69,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- $159/mo
- Cash-on-cash
- 2.8%
- Cap rate
- 7.0%
- DSCR
- 1.10×
Break-even
- Price that breaks even
- $329,962
- Rent that breaks even
- $3,517/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $525K
- Cash flow turns positive
- year 1
The deal
- Price
- $290,000
- Cash to close
- $66,700
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- $530/mo
- Cash-on-cash
- 9.5%
- Cap rate
- 8.6%
- DSCR
- 1.34×
Break-even
- Price that breaks even
- $389,568
- Rent that breaks even
- $3,062/mo
Long run
- Year 30: property vs stocks
- $2.06M vs $508K
- Cash flow turns positive
- year 1
The deal
- Price
- $290,000
- Cash to close
- $66,700
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- $213/mo
- Cash-on-cash
- 3.8%
- Cap rate
- 7.3%
- DSCR
- 1.14×
Break-even
- Price that breaks even
- $329,962
- Rent that breaks even
- $3,440/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $508K
- Cash flow turns positive
- year 1
The deal
- Price
- $300,000
- Cash to close
- $84,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- $577/mo
- Cash-on-cash
- 8.2%
- Cap rate
- 8.3%
- DSCR
- 1.39×
Break-even
- Price that breaks even
- $415,540
- Rent that breaks even
- $3,001/mo
Long run
- Year 30: property vs stocks
- $2.14M vs $639K
- Cash flow turns positive
- year 1
The deal
- Price
- $300,000
- Cash to close
- $84,000
- Price per unit
- $150,000
- GRM
- 6.7
Each month
- Cash flow
- $259/mo
- Cash-on-cash
- 3.7%
- Cap rate
- 7.0%
- DSCR
- 1.17×
Break-even
- Price that breaks even
- $351,960
- Rent that breaks even
- $3,372/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $639K
- Cash flow turns positive
- year 1
The deal
- Price
- $290,000
- Cash to close
- $81,200
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- $626/mo
- Cash-on-cash
- 9.3%
- Cap rate
- 8.6%
- DSCR
- 1.43×
Break-even
- Price that breaks even
- $415,540
- Rent that breaks even
- $2,936/mo
Long run
- Year 30: property vs stocks
- $2.17M vs $618K
- Cash flow turns positive
- year 1
The deal
- Price
- $290,000
- Cash to close
- $81,200
- Price per unit
- $145,000
- GRM
- 6.4
Each month
- Cash flow
- $309/mo
- Cash-on-cash
- 4.6%
- Cap rate
- 7.3%
- DSCR
- 1.21×
Break-even
- Price that breaks even
- $351,960
- Rent that breaks even
- $3,299/mo
Long run
- Year 30: property vs stocks
- $1.68M vs $618K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,796 |
| PMI | −$169 |
| Cash flow | $108 |
| Principal paid down (equity, not cash) | $229 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,796 |
| PMI | −$169 |
| Cash flow | −$209 |
| Principal paid down (equity, not cash) | $229 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,736 |
| PMI | −$163 |
| Cash flow | $174 |
| Principal paid down (equity, not cash) | $221 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,736 |
| PMI | −$163 |
| Cash flow | −$143 |
| Principal paid down (equity, not cash) | $221 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,597 |
| Cash flow | $477 |
| Principal paid down (equity, not cash) | $203 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,597 |
| Cash flow | $159 |
| Principal paid down (equity, not cash) | $203 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,544 |
| Cash flow | $530 |
| Principal paid down (equity, not cash) | $196 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,544 |
| Cash flow | $213 |
| Principal paid down (equity, not cash) | $196 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,497 |
| Cash flow | $577 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,497 |
| Cash flow | $259 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Net operating income | $2,073 |
| Mortgage (principal + interest) | −$1,447 |
| Cash flow | $626 |
| Principal paid down (equity, not cash) | $184 |
| Rent | $3,750 |
| Vacancy (6%) | −$225 |
| Collected | $3,525 |
| Property tax Public record | −$371 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$300 |
| Capital reserve (9% of rent) | −$338 |
| Property management | −$317 |
| Net operating income | $1,756 |
| Mortgage (principal + interest) | −$1,447 |
| Cash flow | $309 |
| Principal paid down (equity, not cash) | $184 |
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
- $684,488
- Rental profits, invested at 7%
- $1,061,885
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $270,000 of loan.
$489,431 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $296,878
$39,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,449,495 ahead after 30 years.
- Your equity when you sell
- $684,488
- Rental profits, invested at 7%
- $611,362
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $270,000 of loan.
$314,773 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $296,878
- Monthly shortfalls, invested
- $42,958
$39,000 put into an index fund instead of the down payment and closing costs.
$6,462 you'd have paid in while the building lost money, invested instead.
The building comes out $956,014 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $1,131,498
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $261,000 of loan.
$511,257 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $286,982
$37,700 put into an index fund instead of the down payment and closing costs.
The building comes out $1,506,188 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $661,158
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $261,000 of loan.
$333,532 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $286,982
- Monthly shortfalls, invested
- $23,141
$37,700 put into an index fund instead of the down payment and closing costs.
$3,395 you'd have paid in while the building lost money, invested instead.
The building comes out $1,012,707 ahead after 30 years.
- Your equity when you sell
- $684,488
- Rental profits, invested at 7%
- $1,340,340
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $240,000 of loan.
$569,383 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $525,246
$69,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,499,582 ahead after 30 years.
- Your equity when you sell
- $684,488
- Rental profits, invested at 7%
- $846,859
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $240,000 of loan.
$388,264 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $525,246
$69,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,006,101 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $1,400,672
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $232,000 of loan.
$588,544 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $507,737
$66,700 put into an index fund instead of the down payment and closing costs.
The building comes out $1,554,606 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $907,190
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $232,000 of loan.
$407,425 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $507,737
$66,700 put into an index fund instead of the down payment and closing costs.
The building comes out $1,061,125 ahead after 30 years.
- Your equity when you sell
- $684,488
- Rental profits, invested at 7%
- $1,453,461
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $225,000 of loan.
$605,310 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $639,429
$84,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,498,520 ahead after 30 years.
- Your equity when you sell
- $684,488
- Rental profits, invested at 7%
- $959,980
Sells for $728,179 (value up 3% a year), minus 6% selling cost ($43,691). Rent paid down $225,000 of loan.
$424,190 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $639,429
$84,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,005,039 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $1,510,022
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $217,500 of loan.
$623,273 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $618,115
$81,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,553,579 ahead after 30 years.
- Your equity when you sell
- $661,672
- Rental profits, invested at 7%
- $1,016,540
Sells for $703,906 (value up 3% a year), minus 6% selling cost ($42,234). Rent paid down $217,500 of loan.
$442,153 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $618,115
$81,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,060,097 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 $1.75M, stocks $297K. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $340K. The property wins.
Year 30 (loan paid off): property $1.79M, stocks $287K. The property wins.
Year 30 (loan paid off): property $1.32M, stocks $310K. The property wins.
Year 30 (loan paid off): property $2.02M, stocks $525K. The property wins.
Year 30 (loan paid off): property $1.53M, stocks $525K. The property wins.
Year 30 (loan paid off): property $2.06M, stocks $508K. The property wins.
Year 30 (loan paid off): property $1.57M, stocks $508K. The property wins.
Year 30 (loan paid off): property $2.14M, stocks $639K. The property wins.
Year 30 (loan paid off): property $1.64M, stocks $639K. The property wins.
Year 30 (loan paid off): property $2.17M, stocks $618K. The property wins.
Year 30 (loan paid off): property $1.68M, stocks $618K. 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.
3 bed / 1 bath estimate $1,875/mo · range $1,725–$2,025
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1500 W Broadway Ave, Unit 2, Minneapolis 55411 off market | $1,700 | 3 / 1 | 0.3 mi | 94% |
| 1500 W Broadway Ave, Unit 3, Minneapolis 55411 off market | $1,700 | 3 / 1 | 0.3 mi | 94% |
| 2620 Emerson Ave N, Unit 2, Minneapolis 55411 off market | $1,900 | 3 / 1 | 0.4 mi | 93% |
| 1823 Girard Ave N, Minneapolis 55411 off market | $1,650 | 3 / 1 | 0.5 mi | 93% |
| 1616 Emerson Ave N, Minneapolis 55411 off market | $1,648 | 3 / 1 | 0.7 mi | 93% |
| 3118 Morgan Ave N, Minneapolis 55411 off market | $1,900 | 3 / 1 | 0.6 mi | 93% |
| 1510 22nd Ave N, Minneapolis 55411 off market | $1,670 | 3 / 1 | 0.2 mi | 93% |
| 816 21st Ave N, Apt 225, Minneapolis 55411 | $2,065 | 3 / 1 | 0.6 mi | 92% |
| 816 21st Ave N, Apt 107, Minneapolis 55411 | $1,788 | 3 / 1 | 0.6 mi | 92% |
| 816 21st Ave N, Apt 226, Minneapolis 55411 | $2,065 | 3 / 1 | 0.6 mi | 92% |
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
- mediumRental license Tier 2: the city has flagged more violations than typical; expect more frequent inspections and repair orders. Public record: Minneapolis Active Rental Licenses: 2410 JAMES AVE N, grade/tier=Tier 2, status=Active
- mediumHeat type conflict: county says forced air, but photos show radiators. Heating setup is unclear (one boiler vs separate systems). Based on: photo 3 · AI review
- mediumLast sale at $516,877 in 2025 versus county market value of $235K. The sale price looks odd, so verify what actually happened (non-arm's-length, portfolio, or distress). Based on: data: county.last_sale_price · AI review
- mediumListing says 'turnkey' and 'well-maintained' but is vague on systems; updates listed are cosmetic. Nothing on roof, boiler, electrical or plumbing. Listing says: Exceptional opportunity to own a well-maintained up/down duplex · AI review
- lowSold for $516,877 in Jun 2025, more than today's asking price. Ask why the owner is selling again so soon. Public record: Hennepin County parcel 1602924210116: last sale 2025-06-01, $516,877
- lowNew appliances in the upper unit are only promised, and the lower unit gets none mentioned. Listing says: Brand-new appliances will be installed in the upper unit prior to closing · AI review
Opportunities
- No rent cap in Minneapolis, so rents can follow the market. Estimate is $1,650 per 3-bed. Based on: data: underwriting.rent_rule · AI review
- 63 days on market, with asking above county value, gives room to negotiate. Based on: data: listing.days_on_market · AI review
- Owner-occupy option: live in one unit and rent the other. Listing says: Live in one unit and let the rental income help offset your mortgage · AI review
Questions for the agent
- What are current rents and lease terms, and who is in each unit?
- Why did the owner sell for $516,877 in 2025 and list again now?
- What heating system is it: one boiler, or separate systems per unit? Age?
- What violations or repair orders came with the Tier 2 rental license?
- Roof, electrical panel and plumbing: ages and any permits for the recent work?
- Who pays which utilities, and are they separately metered?
Bottom line
A cosmetically refreshed 3/1 up/down with positive cash flow at $300K and a Tier 2 license; worth pursuing once systems are verified, ideally below ask. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $4,448 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,561 |
| 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 1900: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-24 (103 days, relisted 1×); last sold for $40,000 on 2014-11-12.
| Date | Event | Price |
|---|---|---|
| Listed | $300,000 | |
| Removed | $300,000 | |
| Removed | $300,000 | |
| Sold public record | $40,000 | |
| Sold public record | $41,735 | |
| Sold public record | $234,800 | |
| Sold public record | $120,000 | |
| Sold public record | $70,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $235,300 |
| Property tax | $4,448 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2025-06-01 · $516,877 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 2 unit(s), Tier 2, status active, renews 2027-03-01.
Nearest highway
I 94, about 1471 m away.
Crime in Jordan
591 incidents in the last 12 months (69 per 1,000 residents), +4% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).