2542 Garfield Ave
Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 2,211 sq ft
Minneapolis, MN · Whittier · View the listing ↗
Photos courtesy of DRG Mpls, via Realtor.com.
- Asking price
- $349,000 2 units · $174K per unit
- Monthly cash flow
- −$885 at 20% down, 7%
- Break-even price
- $182,655 where cash flow hits $0
First look
This is a 1918 Uptown/Whittier duplex with a new roof and siding in 2024, but at $349K the numbers don't work. Our model shows about -$885 a month and a 3.3% cap rate, and break-even is near $183K. The listing gives no rents except that the upper is leased through May 2027, so the first ask is the lease and the rent roll. The photos show an older, worn kitchen in what appears to be the lower unit, plus hot-water radiators, so get the boiler age and who pays heat. The $5K seller contribution won't close a gap this large. It's worth a showing only if the seller moves a long way on price or you plan to owner-occupy.
Things to consider
- Price doesn't match income Our underwriting shows negative cash flow of about $885 a month and a 3.3% cap rate. Only a big price cut or owner-occupancy changes that.
- Rents are unknown Only the upper lease end date is given, with no rent. Underwriting depends on our estimates until you see a rent roll.Listing says: “Upper unit is currently leased through May 31, 2027.”
- Recent exterior work lowers near-term capital risk A new roof and siding in 2024 remove two big costs. Interior and mechanical systems still need checking.Listing says: “Major exterior improvements include a new roof and new siding in 2024.”
- Dated lower kitchen A kitchen refresh is needed to reach upper-end rents, so budget for it before assuming rent growth.From photo 6
- Investor tax bill and assessments Taxes are already non-homestead at about $6,548, plus assessments, which weigh on cash flow.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Upper: $0 (lease)Listing says: Upper unit is currently leased through May 31, 2027.
Condition and repairs
- doneNew roofListing says: Major exterior improvements include a new roof and new siding in 2024.
- doneNew sidingListing says: Major exterior improvements include a new roof and new siding in 2024.
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
- $349,000
- Cash to close
- $45,370
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$1,314/mo
- Cash-on-cash
- −34.8%
- Cap rate
- 3.3%
- DSCR
- 0.43×
Break-even
- Price that breaks even
- $148,417
- Rent that breaks even
- $4,256/mo
Long run
- Year 30: property vs stocks
- $796K vs $1.35M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $349,000
- Cash to close
- $45,370
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$1,530/mo
- Cash-on-cash
- −40.5%
- Cap rate
- 2.6%
- DSCR
- 0.33×
Break-even
- Price that breaks even
- $115,482
- Rent that breaks even
- $4,782/mo
Long run
- Year 30: property vs stocks
- $796K vs $1.69M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $339,000
- Cash to close
- $44,070
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$1,248/mo
- Cash-on-cash
- −34.0%
- Cap rate
- 3.4%
- DSCR
- 0.44×
Break-even
- Price that breaks even
- $148,417
- Rent that breaks even
- $4,171/mo
Long run
- Year 30: property vs stocks
- $773K vs $1.27M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $339,000
- Cash to close
- $44,070
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$1,464/mo
- Cash-on-cash
- −39.9%
- Cap rate
- 2.7%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $115,482
- Rent that breaks even
- $4,686/mo
Long run
- Year 30: property vs stocks
- $773K vs $1.61M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $349,000
- Cash to close
- $80,270
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$885/mo
- Cash-on-cash
- −13.2%
- Cap rate
- 3.3%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $182,655
- Rent that breaks even
- $3,700/mo
Long run
- Year 30: property vs stocks
- $798K vs $1.30M
- Cash flow turns positive
- year 29
The deal
- Price
- $349,000
- Cash to close
- $80,270
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$1,101/mo
- Cash-on-cash
- −16.5%
- Cap rate
- 2.6%
- DSCR
- 0.41×
Break-even
- Price that breaks even
- $142,122
- Rent that breaks even
- $4,156/mo
Long run
- Year 30: property vs stocks
- $796K vs $1.63M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $339,000
- Cash to close
- $77,970
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$832/mo
- Cash-on-cash
- −12.8%
- Cap rate
- 3.4%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $182,655
- Rent that breaks even
- $3,631/mo
Long run
- Year 30: property vs stocks
- $777K vs $1.22M
- Cash flow turns positive
- year 27
The deal
- Price
- $339,000
- Cash to close
- $77,970
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$1,048/mo
- Cash-on-cash
- −16.1%
- Cap rate
- 2.7%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $142,122
- Rent that breaks even
- $4,079/mo
Long run
- Year 30: property vs stocks
- $773K vs $1.55M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $349,000
- Cash to close
- $97,720
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$769/mo
- Cash-on-cash
- −9.4%
- Cap rate
- 3.3%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $194,832
- Rent that breaks even
- $3,549/mo
Long run
- Year 30: property vs stocks
- $804K vs $1.30M
- Cash flow turns positive
- year 26
The deal
- Price
- $349,000
- Cash to close
- $97,720
- Price per unit
- $174,500
- GRM
- 11.4
Each month
- Cash flow
- −$985/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 2.6%
- DSCR
- 0.43×
Break-even
- Price that breaks even
- $151,597
- Rent that breaks even
- $3,987/mo
Long run
- Year 30: property vs stocks
- $796K vs $1.63M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $339,000
- Cash to close
- $94,920
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$719/mo
- Cash-on-cash
- −9.1%
- Cap rate
- 3.4%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $194,832
- Rent that breaks even
- $3,484/mo
Long run
- Year 30: property vs stocks
- $785K vs $1.23M
- Cash flow turns positive
- year 25
The deal
- Price
- $339,000
- Cash to close
- $94,920
- Price per unit
- $169,500
- GRM
- 11.1
Each month
- Cash flow
- −$935/mo
- Cash-on-cash
- −11.8%
- Cap rate
- 2.7%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $151,597
- Rent that breaks even
- $3,914/mo
Long run
- Year 30: property vs stocks
- $773K vs $1.55M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$2,090 |
| PMI | −$196 |
| Cash flow | −$1,314 |
| Principal paid down (equity, not cash) | $266 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$2,090 |
| PMI | −$196 |
| Cash flow | −$1,530 |
| Principal paid down (equity, not cash) | $266 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$2,030 |
| PMI | −$191 |
| Cash flow | −$1,248 |
| Principal paid down (equity, not cash) | $258 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$2,030 |
| PMI | −$191 |
| Cash flow | −$1,464 |
| Principal paid down (equity, not cash) | $258 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$1,858 |
| Cash flow | −$885 |
| Principal paid down (equity, not cash) | $236 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$1,858 |
| Cash flow | −$1,101 |
| Principal paid down (equity, not cash) | $236 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$1,804 |
| Cash flow | −$832 |
| Principal paid down (equity, not cash) | $230 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$1,804 |
| Cash flow | −$1,048 |
| Principal paid down (equity, not cash) | $230 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$1,741 |
| Cash flow | −$769 |
| Principal paid down (equity, not cash) | $222 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$1,741 |
| Cash flow | −$985 |
| Principal paid down (equity, not cash) | $222 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Net operating income | $972 |
| Mortgage (principal + interest) | −$1,692 |
| Cash flow | −$719 |
| Principal paid down (equity, not cash) | $215 |
| Rent | $2,550 |
| Vacancy (6%) | −$153 |
| Collected | $2,397 |
| Property tax Public record | −$546 |
| Insurance Estimate | −$216 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$204 |
| Capital reserve (9% of rent) | −$230 |
| Property management | −$216 |
| Net operating income | $756 |
| Mortgage (principal + interest) | −$1,692 |
| Cash flow | −$935 |
| Principal paid down (equity, not cash) | $215 |
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
- $796,288
- Rental profits, invested at 7%
- $0
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $314,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $345,368
- Monthly shortfalls, invested
- $1,008,586
$45,370 put into an index fund instead of the down payment and closing costs.
$254,853 you'd have paid in while the building lost money, invested instead.
Stocks come out $557,666 ahead after 30 years.
- Your equity when you sell
- $796,288
- Rental profits, invested at 7%
- $0
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $314,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $345,368
- Monthly shortfalls, invested
- $1,344,154
$45,370 put into an index fund instead of the down payment and closing costs.
$378,014 you'd have paid in while the building lost money, invested instead.
Stocks come out $893,234 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $0
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $305,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $335,472
- Monthly shortfalls, invested
- $938,973
$44,070 put into an index fund instead of the down payment and closing costs.
$233,027 you'd have paid in while the building lost money, invested instead.
Stocks come out $500,974 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $0
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $305,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $335,472
- Monthly shortfalls, invested
- $1,274,541
$44,070 put into an index fund instead of the down payment and closing costs.
$356,189 you'd have paid in while the building lost money, invested instead.
Stocks come out $836,542 ahead after 30 years.
- Your equity when you sell
- $796,288
- Rental profits, invested at 7%
- $1,454
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $279,200 of loan.
$1,423 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $611,036
- Monthly shortfalls, invested
- $686,104
$80,270 put into an index fund instead of the down payment and closing costs.
$163,264 you'd have paid in while the building lost money, invested instead.
Stocks come out $499,398 ahead after 30 years.
- Your equity when you sell
- $796,288
- Rental profits, invested at 7%
- $0
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $279,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $611,036
- Monthly shortfalls, invested
- $1,020,218
$80,270 put into an index fund instead of the down payment and closing costs.
$285,003 you'd have paid in while the building lost money, invested instead.
Stocks come out $834,965 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $3,509
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $271,200 of loan.
$3,336 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $593,528
- Monthly shortfalls, invested
- $627,828
$77,970 put into an index fund instead of the down payment and closing costs.
$146,017 you'd have paid in while the building lost money, invested instead.
Stocks come out $444,374 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $0
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $271,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $593,528
- Monthly shortfalls, invested
- $959,886
$77,970 put into an index fund instead of the down payment and closing costs.
$265,842 you'd have paid in while the building lost money, invested instead.
Stocks come out $779,943 ahead after 30 years.
- Your equity when you sell
- $796,288
- Rental profits, invested at 7%
- $7,283
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $261,750 of loan.
$6,677 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $743,870
- Monthly shortfalls, invested
- $560,335
$97,720 put into an index fund instead of the down payment and closing costs.
$126,724 you'd have paid in while the building lost money, invested instead.
Stocks come out $500,635 ahead after 30 years.
- Your equity when you sell
- $796,288
- Rental profits, invested at 7%
- $0
Sells for $847,115 (value up 3% a year), minus 6% selling cost ($50,827). Rent paid down $261,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $743,870
- Monthly shortfalls, invested
- $888,620
$97,720 put into an index fund instead of the down payment and closing costs.
$243,209 you'd have paid in while the building lost money, invested instead.
Stocks come out $836,202 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $11,337
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $254,250 of loan.
$10,106 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $722,555
- Monthly shortfalls, invested
- $507,829
$94,920 put into an index fund instead of the down payment and closing costs.
$112,191 you'd have paid in while the building lost money, invested instead.
Stocks come out $445,575 ahead after 30 years.
- Your equity when you sell
- $773,471
- Rental profits, invested at 7%
- $0
Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $254,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $722,555
- Monthly shortfalls, invested
- $832,060
$94,920 put into an index fund instead of the down payment and closing costs.
$225,245 you'd have paid in while the building lost money, invested instead.
Stocks come out $781,144 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 $796K, stocks $1.35M. Stocks win.
Year 30 (loan paid off): property $796K, stocks $1.69M. Stocks win.
Year 30 (loan paid off): property $773K, stocks $1.27M. Stocks win.
Year 30 (loan paid off): property $773K, stocks $1.61M. Stocks win.
Year 30 (loan paid off): property $798K, stocks $1.30M. Stocks win.
Year 30 (loan paid off): property $796K, stocks $1.63M. Stocks win.
Year 30 (loan paid off): property $777K, stocks $1.22M. Stocks win.
Year 30 (loan paid off): property $773K, stocks $1.55M. Stocks win.
Year 30 (loan paid off): property $804K, stocks $1.30M. Stocks win.
Year 30 (loan paid off): property $796K, stocks $1.63M. Stocks win.
Year 30 (loan paid off): property $785K, stocks $1.23M. Stocks win.
Year 30 (loan paid off): property $773K, stocks $1.55M. 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.
2 bed estimate $1,450/mo · range $1,275–$1,625 · 23 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2525 Harriet Ave, Minneapolis | $1,495 | 2 / 1 | 0.1 mi |
| 2400 Harriet Ave, Minneapolis | $1,295 | 2 / 1 | 0.2 mi |
| 900 W 25th St, Minneapolis | $1,299 | 2 / 1 | 0.2 mi |
| 2611 Pleasant Ave, Minneapolis | $1,430 | 2 / 1 | 0.2 mi |
| 2300 Pleasant Ave, Minneapolis | $1,300 | 2 / 1 | 0.3 mi |
| 2800 Grand Ave S, Minneapolis | $1,195 | 2 / 1 | 0.3 mi |
| 2644 Dupont Ave S Unit 1, Minneapolis | $1,575 | 2 / 1 | 0.3 mi |
| 2530 Blaisdell Ave, Minneapolis | $1,095 | 2 / 1 | 0.3 mi |
| 2421 Pillsbury Ave S, Minneapolis | $1,195 | 2 / 1 | 0.3 mi |
| 2121 Garfield Ave, Minneapolis | $1,375 | 2 / 1 | 0.4 mi |
1 bed estimate $1,100/mo · range $1,025–$1,300 · 25 rentals within 0.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2541 Garfield Ave Apt 3, Minneapolis | $1,325 | 1 / 1 | 0.0 mi |
| 2545 Garfield Ave Apt A, Minneapolis | $1,025 | 1 / 1 | 0.0 mi |
| 2621 Lyndale Ave S, Minneapolis | $1,650 | 1 / 1 | 0.1 mi |
| 2525 Harriet Ave, Minneapolis | $1,250 | 1 / 1 | 0.1 mi |
| 2641 Garfield Ave S, Minneapolis | $985 | 1 / 1 | 0.1 mi |
| 2510-2516 Grand Ave S, Minneapolis | $975 | 1 / 1 | 0.1 mi |
| 2645 Garfield Ave Apt 1, Minneapolis | $1,295 | 1 / 1 | 0.1 mi |
| 2400 Harriet Ave, Minneapolis | $915 | 1 / 1 | 0.2 mi |
| 900 W 25th St, Minneapolis | $1,149 | 1 / 1 | 0.2 mi |
| 2611 Pleasant Ave, Minneapolis | $1,090 | 1 / 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
- highPrice is far above what rents support Based on: data: underwriting.break_even_price · AI review
- mediumAsking is $166,345 above the price where cash flow breaks even ($182,655) at the default scenario. Based on: Derived: price $349,000 vs. break-even $182,655
- mediumRadiator and boiler system with no heat details; owner may pay heat on one boiler Based on: data: county.heat_type · AI review
- low$513 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 3402924230056: special assessments (current) = $513.40
- lowLower unit kitchen looks dated and worn Based on: photo 6 · AI review
Opportunities
- Four off-street spaces are a real draw in this area Listing says: Four off-street parking spaces add significant convenience and value for both residents and tenants. · AI review
- No rent cap in Minneapolis, so a refreshed lower unit can be pushed toward market Based on: data: underwriting.rent_rule · AI review
- Seller offers $5K toward closing costs or a rate buydown Listing says: Note there is a $5,000 seller contribution available for buyer's closing costs or interest rate buydown · AI review
Questions for the agent
- What is the upper rent, and can I see the lease and deposit?
- What does the lower unit rent for, or is it vacant or owner-occupied?
- Who pays heat, and how old is the boiler? Is there one meter or two?
- What are the $513 special assessments for, and are they paid at closing?
- How old are the electrical panel and wiring, and the water heater?
- Will the seller take less than ask, given the sale price history and the gap to rents?
Bottom line
Nice location with a new roof and siding, but $349K is nearly double what the rents support, so it only works as an owner-occupant buy or at a much 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) | $6,548 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,588 |
| 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 1918: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-09-16 (19 days); down $11,000 (3.1%) from the first ask of $360,000; last sold for $219,900 on 2013-09-10.
| Date | Event | Price |
|---|---|---|
| Price changed | $349,000 | |
| Listed | $360,000 | |
| Sold | $219,900 | |
| Relisted | $219,900 | |
| Removed | $219,900 | |
| Listed | $287,000 | |
| Sold public record | $72,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $344,800 |
| Property tax | $6,548 |
| Special assessments | $513 |
| Homestead | no |
| Last sale | 2013-08-01 · $195,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 94;MN 55, about 939 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).