2533 Polk St NE
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,550 sq ft
Minneapolis, MN · Audubon Park · View the listing ↗
Photos courtesy of Edina Realty, Inc., via Realtor.com.
- Asking price
- $440,000 2 units · $220K per unit
- Monthly cash flow
- −$382 at 20% down, 7%
- Break-even price
- $368,297 where cash flow hits $0
First look
This is a side-by-side duplex with three bedrooms each, both vacant. One side looks freshly renovated and the other is dated. At $440K with estimated rents around $1,975 per side, our underwriting shows about -$382 a month and a 5.3% cap rate, so it does not work as a pure rental at today's rates. The pitch is really for an owner-occupant who lives in one side and fixes up the other. Before a showing, get the age of the roof, furnaces and electrical, and price the rehab on the dated side. Then see how far the price can come down, since the break-even is about $368K.
Things to consider
- Price is far above what rents support At ask, cash flow is about -$382 a month and break-even is about $368K. A rental buyer would need a meaningful cut to make it work.
- Best as an owner-occupied house-hack Living in one side cuts the rental exposure and may allow owner-occupant financing. You still carry high taxes and a rehab on the dated side.Listing says: “Perfect for an owner occupant: one side has been thoroughly updated”
- Rehab budget on the dated unit Carpet, paint, kitchen and possibly the bath all look dated. Rent on that side stays below the estimate until the work is done.From photo 10
- Rents are estimates only With both units vacant there is no lease history. Our estimate of $1,975 per 3-bed may be off, so verify against current comps.
- Seller has big equity and room to negotiate They bought in 2004 for $218K, so a lower offer still leaves them well ahead, though it is only 3 days on market.
- Roof and mechanicals are unverified The roof looks worn and the heating, electrical and water heater ages are unknown. Those are big costs on a 1900 build.Listing says: “2 electrical panels, 2 furnaces, 2 water heaters”
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
- neededSecond unit needs sweat equity and updatingListing says: live in the other while you put some sweat equity into it
- doneOne side thoroughly updatedListing says: one side has been thoroughly updated
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
- $440,000
- Cash to close
- $57,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$922/mo
- Cash-on-cash
- −19.3%
- Cap rate
- 5.3%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $299,262
- Rent that breaks even
- $5,147/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $803K
- Cash flow turns positive
- year 13
The deal
- Price
- $440,000
- Cash to close
- $57,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$1,256/mo
- Cash-on-cash
- −26.4%
- Cap rate
- 4.4%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $248,245
- Rent that breaks even
- $5,783/mo
Long run
- Year 30: property vs stocks
- $1.07M vs $1.14M
- Cash flow turns positive
- year 20
The deal
- Price
- $430,000
- Cash to close
- $55,900
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$856/mo
- Cash-on-cash
- −18.4%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $299,262
- Rent that breaks even
- $5,062/mo
Long run
- Year 30: property vs stocks
- $1.26M vs $751K
- Cash flow turns positive
- year 12
The deal
- Price
- $430,000
- Cash to close
- $55,900
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$1,191/mo
- Cash-on-cash
- −25.6%
- Cap rate
- 4.5%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $248,245
- Rent that breaks even
- $5,687/mo
Long run
- Year 30: property vs stocks
- $1.06M vs $1.07M
- Cash flow turns positive
- year 19
The deal
- Price
- $440,000
- Cash to close
- $101,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$382/mo
- Cash-on-cash
- −4.5%
- Cap rate
- 5.3%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $368,297
- Rent that breaks even
- $4,446/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $883K
- Cash flow turns positive
- year 8
The deal
- Price
- $440,000
- Cash to close
- $101,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$716/mo
- Cash-on-cash
- −8.5%
- Cap rate
- 4.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $305,512
- Rent that breaks even
- $4,994/mo
Long run
- Year 30: property vs stocks
- $1.14M vs $1.14M
- Cash flow turns positive
- year 15
The deal
- Price
- $430,000
- Cash to close
- $98,900
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$328/mo
- Cash-on-cash
- −4.0%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $368,297
- Rent that breaks even
- $4,377/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $840K
- Cash flow turns positive
- year 7
The deal
- Price
- $430,000
- Cash to close
- $98,900
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$663/mo
- Cash-on-cash
- −8.0%
- Cap rate
- 4.5%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $305,512
- Rent that breaks even
- $4,917/mo
Long run
- Year 30: property vs stocks
- $1.14M vs $1.08M
- Cash flow turns positive
- year 15
The deal
- Price
- $440,000
- Cash to close
- $123,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$235/mo
- Cash-on-cash
- −2.3%
- Cap rate
- 5.3%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $392,850
- Rent that breaks even
- $4,256/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $988K
- Cash flow turns positive
- year 6
The deal
- Price
- $440,000
- Cash to close
- $123,200
- Price per unit
- $220,000
- GRM
- 9.3
Each month
- Cash flow
- −$569/mo
- Cash-on-cash
- −5.5%
- Cap rate
- 4.4%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $325,879
- Rent that breaks even
- $4,781/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $1.19M
- Cash flow turns positive
- year 13
The deal
- Price
- $430,000
- Cash to close
- $120,400
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$185/mo
- Cash-on-cash
- −1.8%
- Cap rate
- 5.5%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $392,850
- Rent that breaks even
- $4,191/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $950K
- Cash flow turns positive
- year 5
The deal
- Price
- $430,000
- Cash to close
- $120,400
- Price per unit
- $215,000
- GRM
- 9.1
Each month
- Cash flow
- −$520/mo
- Cash-on-cash
- −5.2%
- Cap rate
- 4.5%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $325,879
- Rent that breaks even
- $4,708/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $1.13M
- Cash flow turns positive
- year 12
Monthly
Monthly breakdown
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,635 |
| PMI | −$248 |
| Cash flow | −$922 |
| Principal paid down (equity, not cash) | $335 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,635 |
| PMI | −$248 |
| Cash flow | −$1,256 |
| Principal paid down (equity, not cash) | $335 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,575 |
| PMI | −$242 |
| Cash flow | −$856 |
| Principal paid down (equity, not cash) | $328 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,575 |
| PMI | −$242 |
| Cash flow | −$1,191 |
| Principal paid down (equity, not cash) | $328 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,342 |
| Cash flow | −$382 |
| Principal paid down (equity, not cash) | $298 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,342 |
| Cash flow | −$716 |
| Principal paid down (equity, not cash) | $298 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,289 |
| Cash flow | −$328 |
| Principal paid down (equity, not cash) | $291 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,289 |
| Cash flow | −$663 |
| Principal paid down (equity, not cash) | $291 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,195 |
| Cash flow | −$235 |
| Principal paid down (equity, not cash) | $279 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,195 |
| Cash flow | −$569 |
| Principal paid down (equity, not cash) | $279 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Net operating income | $1,960 |
| Mortgage (principal + interest) | −$2,146 |
| Cash flow | −$185 |
| Principal paid down (equity, not cash) | $273 |
| Rent | $3,950 |
| Vacancy (6%) | −$237 |
| Collected | $3,713 |
| Property tax Public record | −$628 |
| Insurance Estimate | −$223 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$316 |
| Capital reserve (9% of rent) | −$356 |
| Property management | −$334 |
| Net operating income | $1,626 |
| Mortgage (principal + interest) | −$2,146 |
| Cash flow | −$520 |
| Principal paid down (equity, not cash) | $273 |
Cash flow each year
Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.
30 years
How those totals add up
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $254,584
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $396,000 of loan.
$169,001 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,421
- Monthly shortfalls, invested
- $367,996
$57,200 put into an index fund instead of the down payment and closing costs.
$62,745 you'd have paid in while the building lost money, invested instead.
The building comes out $455,082 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $67,685
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $396,000 of loan.
$54,040 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,421
- Monthly shortfalls, invested
- $700,898
$57,200 put into an index fund instead of the down payment and closing costs.
$138,563 you'd have paid in while the building lost money, invested instead.
Stocks come out $64,718 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $281,317
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $387,000 of loan.
$182,617 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $425,525
- Monthly shortfalls, invested
- $325,116
$55,900 put into an index fund instead of the down payment and closing costs.
$54,535 you'd have paid in while the building lost money, invested instead.
The building comes out $511,775 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $79,680
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $387,000 of loan.
$62,254 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $425,525
- Monthly shortfalls, invested
- $643,279
$55,900 put into an index fund instead of the down payment and closing costs.
$124,952 you'd have paid in while the building lost money, invested instead.
Stocks come out $8,025 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $407,993
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $352,000 of loan.
$241,512 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $770,360
- Monthly shortfalls, invested
- $113,004
$101,200 put into an index fund instead of the down payment and closing costs.
$17,992 you'd have paid in while the building lost money, invested instead.
The building comes out $528,545 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $140,654
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $352,000 of loan.
$100,437 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $770,360
- Monthly shortfalls, invested
- $365,466
$101,200 put into an index fund instead of the down payment and closing costs.
$67,696 you'd have paid in while the building lost money, invested instead.
The building comes out $8,744 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $442,914
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $344,000 of loan.
$256,369 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $752,852
- Monthly shortfalls, invested
- $87,594
$98,900 put into an index fund instead of the down payment and closing costs.
$13,688 you'd have paid in while the building lost money, invested instead.
The building comes out $583,567 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $158,466
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $344,000 of loan.
$110,656 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $752,852
- Monthly shortfalls, invested
- $322,946
$98,900 put into an index fund instead of the down payment and closing costs.
$58,755 you'd have paid in while the building lost money, invested instead.
The building comes out $63,767 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $510,752
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $330,000 of loan.
$283,748 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $937,830
- Monthly shortfalls, invested
- $49,852
$123,200 put into an index fund instead of the down payment and closing costs.
$7,536 you'd have paid in while the building lost money, invested instead.
The building comes out $526,986 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $193,960
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $330,000 of loan.
$129,978 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $937,830
- Monthly shortfalls, invested
- $252,860
$123,200 put into an index fund instead of the down payment and closing costs.
$44,545 you'd have paid in while the building lost money, invested instead.
The building comes out $7,185 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $551,024
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $322,500 of loan.
$299,160 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $916,516
- Monthly shortfalls, invested
- $33,564
$120,400 put into an index fund instead of the down payment and closing costs.
$4,985 you'd have paid in while the building lost money, invested instead.
The building comes out $582,045 ahead after 30 years.
- Your equity when you sell
- $981,100
- Rental profits, invested at 7%
- $215,265
Sells for $1,043,723 (value up 3% a year), minus 6% selling cost ($62,623). Rent paid down $322,500 of loan.
$141,036 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $916,516
- Monthly shortfalls, invested
- $217,605
$120,400 put into an index fund instead of the down payment and closing costs.
$37,640 you'd have paid in while the building lost money, invested instead.
The building comes out $62,243 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 $1.26M, stocks $803K. The property wins.
Year 30 (loan paid off): property $1.07M, stocks $1.14M. Stocks win.
Year 30 (loan paid off): property $1.26M, stocks $751K. The property wins.
Year 30 (loan paid off): property $1.06M, stocks $1.07M. Stocks win.
Year 30 (loan paid off): property $1.41M, stocks $883K. The property wins.
Year 30 (loan paid off): property $1.14M, stocks $1.14M. The property wins.
Year 30 (loan paid off): property $1.42M, stocks $840K. The property wins.
Year 30 (loan paid off): property $1.14M, stocks $1.08M. The property wins.
Year 30 (loan paid off): property $1.51M, stocks $988K. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $1.19M. The property wins.
Year 30 (loan paid off): property $1.53M, stocks $950K. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $1.13M. The property wins.
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 $1,975/mo · range $1,825–$2,225 · 10 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 920 24th Ave NE, Minneapolis | $2,388 | 3 / 1 | 0.2 mi |
| 2318 Jefferson St NE, Minneapolis | $1,715 | 3 / 1.5 | 0.6 mi |
| 1709 Fillmore St NE, Minneapolis | $2,099 | 3 / 1 | 0.7 mi |
| 1460 Van Buren St NE, Minneapolis | $1,570 | 3 / 1.5 | 0.7 mi |
| 1322 Central Ave NE Unit 1, Minneapolis | $1,800 | 3 / 1 | 0.9 mi |
| 1622 Washington St NE, Minneapolis | $1,795 | 3 / 1 | 0.9 mi |
| 1226 Adams St NE, Minneapolis | $2,049 | 3 / 1 | 1.1 mi |
| 742 Buchanan St NE, Minneapolis | $1,700 | 3 / 1 | 1.1 mi |
| 912 4th St NE Unit Upstairs, Minneapolis | $1,900 | 3 / 1 | 1.4 mi |
| 912 4th St NE Unit Main, Minneapolis | $2,100 | 3 / 1 | 1.4 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
- mediumBoth units are vacant, so there is no rent history to verify and no proof the rents in our estimate can be achieved Listing says: Both units are currently vacant · AI review
- mediumDated side appears to need a full refresh; the cost is unknown and the layout is split across main and upper floors Based on: photo 7 · AI review
- mediumBack roof shingles look worn with debris and moss-like staining Based on: photo 5 · AI review
- mediumTaxes are high at non-homestead rates and cut deep into income Based on: data: county.tax · AI review
Opportunities
- The seller bought for $218,000 in May 2004, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1202924230156: last sale 2004-05-01, $218,000
- House-hack: live in one side, renovate the other, and rent the finished side Listing says: Perfect for an owner occupant: one side has been thoroughly updated · AI review
- No rent cap in Minneapolis, so rents can follow the market after the dated side is refreshed Based on: data: underwriting.rent_rule · AI review
- Free laundry, a 2-car garage and off-street parking help rentability Listing says: 2 car garage + off-street parking · AI review
Questions for the agent
- How old are the roof, both furnaces, the central air unit and the water heaters?
- What type and age is the wiring in each unit, and are the two panels breakers or fuses?
- Is the 2-car garage in usable condition, and does parking work for both units?
- What was done on the updated side, who did the work, and were permits pulled?
- Why is the seller asking $440K against a $396,700 county market value, and are they open to offers?
- Is laundry shared or in each unit, and are the utilities separately metered?
Bottom line
Fine house-hack candidate with one finished side, but at $440K it loses money as a rental, so it needs a lower price. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $7,534 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,681 |
| 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 2026-09-29 (6 days); last sold for $218,000 on 2004-06-30; listed for rent at $1,800/mo on 2020-10-13.
| Date | Event | Price |
|---|---|---|
| Listed | $440,000 | |
| Removed | — | |
| Listed for rent | $1,800/mo | |
| Sold public record | $218,000 | |
| Sold public record | $190,000 | |
| Sold public record | $98,000 | |
| Sold public record | $60,000 | |
| Sold public record | $24,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $396,700 |
| Property tax | $7,534 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2004-05-01 · $218,000 |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 35W, about 1552 m away.
Crime in Audubon Park
157 incidents in the last 12 months (29 per 1,000 residents), +10% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).