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256 Russell Ave S

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,380 sq ft

Minneapolis, MN · Bryn - Mawr · View the listing ↗

Far off
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Photos, via Realtor.com.

Asking price
$495,000
2 units · $248K per unit
Monthly cash flow
−$1,281
at 20% down, 7%
Estimated rent
$3,250/mo
medium confidence · 13 rentals within 1.5 mi
Break-even price
$254,349
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a clean, well-presented Bryn Mawr duplex with two matching 2-bed/1-bath units, but the numbers don't work at $495K. Our rent estimate is about $1,625 per unit, the cap rate is 3.3%, and cash flow is roughly -$1,281 a month at 20% down. The break-even price is about $254K, so the gap is huge. The listing gives no actual rents, so ask for the rent roll, lease dates and 12 months of expenses first. Photos show tenant-occupied units with dated kitchens despite the 'remodeled' claim. I'd only tour if the seller moves hard on price or you plan to live in one unit.

Things to consider

  1. Price is far above what rents support At about $1,625 per unit the property loses roughly $1,281 a month at our default terms. The break-even price is about $254K.
  2. Actual rents are unknown Without a rent roll you can't verify income, and our estimate is the only guide. Ask for leases and payment history.Listing says: “strong rental demand and low turn over”
  3. Taxes are heavy for this rent level Non-homestead taxes of about $8,390 take a big bite from roughly $39K of annual rent.
  4. Owner-occupant math is the only path that might work Living in one unit lowers financing costs and can improve the monthly picture, but the price is still high.Listing says: “Perfect for owner occupier buyer or investor”
  5. Systems age is mostly unknown A 1900 building with boilers and unknown wiring can need big spending. Get inspections before relying on the 'updates'.Listing says: “regular yearly maintenance on boilers”

From the photos

Listing photo 1
1 of 7Plus

Exterior is stucco with newer-looking dark windows and fresh mulch landscaping; building looks well maintained

Listing photo 3
2 of 7Plus

Hardwood floors and original wood trim appear in good shape throughout

Listing photo 2
3 of 7Check

Radiator heat is visible, consistent with a hot-water boiler system; boiler itself not shown

Listing photo 8
4 of 7Concern

Kitchen has older painted cabinets and appears dated aside from the counters and stainless appliances

Listing photo 10
5 of 7Check

Window air conditioner in the bedroom suggests no central air

Listing photo 5
6 of 7Check

Dark stain or mark on the sunroom hardwood floor near the doorway; could be old water or wear

Listing photo 1
7 of 7Check

Photos skip the basement, boilers, electrical panel, bathrooms and roof

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

  • doneNew sewer line to streetListing says: new sewer line to street
  • doneRetaining wall, pavers and landscapingListing says: professionally built new retaining wall, pavers and landscaping
  • doneNew water heater (2018)Listing says: new water heater (2018)
  • doneNew quartz counters in both unitsListing says: new Carrara quartz counters in both units
  • doneNew lower-level fridgeListing says: new LL Fridge

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

Down payment %
Offer $
Management
Interest rate %
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
$495,000
Cash to close
$113,850
Price per unit
$247,500
GRM
12.7

Each month

Cash flow
−$1,281/mo
Cash-on-cash
−13.5%
Cap rate
3.3%
DSCR
0.51×

Break-even

Price that breaks even
$254,349
Rent that breaks even
$4,913/mo

Long run

Year 30: property vs stocks
$1.13M vs $1.86M
Cash flow turns positive
year 28

Monthly

Monthly breakdown

Rent$3,250
Vacancy (6%)−$195
Collected$3,055
Property tax Public record−$699
Insurance Estimate−$220
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$260
Capital reserve (9% of rent)−$292
Net operating income$1,354
Mortgage (principal + interest)−$2,635
Cash flow−$1,281
Principal paid down (equity, not cash)$335

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

If you buy this building$1,132,435
Your equity when you sell
$1,129,405

Sells for $1,201,495 (value up 3% a year), minus 6% selling cost ($72,090). Rent paid down $396,000 of loan.

Rental profits, invested at 7%
$3,030

$2,934 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$1,856,106
Cash to close, invested at 7%
$866,655

$113,850 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$989,451

$234,316 you'd have paid in while the building lost money, invested instead.

Stocks come out $723,671 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

This propertyStocks at 7%

Year 30 (loan paid off): property $1.13M, stocks $1.86M. 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 $1,625/mo · range $1,400–$1,775 · 13 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
235 Logan Ave N Unit 2, Minneapolis $1,590 2 / 1 1,000 0.5 mi — Apartment
401 Morgan Ave N Unit 1, Minneapolis $1,500 2 / 1 1,000 0.6 mi — Apartment
621 Morgan Ave N, Minneapolis $1,599 2 / 1 1,302 0.8 mi 2026-07-06 Duplex triplex
1937 Fremont Ave S Apt 1, Minneapolis $1,995 2 / 1 1,340 1.1 mi 2026-09-22 Apartment
1239 Sheridan Ave N, Minneapolis $1,099 2 / 1 865 1.2 mi 2026-02-06 Apartment
2118 Dupont Ave S, Minneapolis $1,525 2 / 1 1,100 1.2 mi 2025-07-30 Apartment
188 Glenwood Ave, Minneapolis $1,751 2 / 1 951 1.3 mi 2026-05-20 Apartment
2002 Garfield Ave S, Minneapolis $1,295 2 / 1 800 1.4 mi 2026-09-22 Apartment
2514 Emerson Ave S, Minneapolis $1,599 2 / 1 1,100 1.4 mi 2025-01-03 Apartment
2825 Cedar Lake Pkwy, Minneapolis $1,800 2 / 1 1,100 1.4 mi 2026-08-18 Apartment

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

  • mediumAsking is $240,651 above the price where cash flow breaks even ($254,349) at the default scenario. Based on: Derived: price $495,000 vs. break-even $254,349
  • mediumDescription says 'remodeled kitchens' but photos show older painted cabinets and basic layouts; the remodel is mostly counters Based on: photo 8 · AI review
  • mediumHot-water boilers need age and condition checks; only 'regular yearly maintenance' is stated, with no install dates Listing says: regular yearly maintenance on boilers · AI review
  • medium1900 build with unknown wiring and plumbing age; no panel or electrical details given Based on: data: listing.year_built · AI review
  • mediumTaxes are high relative to the likely rent, and the owner is non-homestead Based on: data: county.tax · AI review
  • lowRetaining wall and landscaping spending suggests the seller put money into cosmetics, not necessarily the income Listing says: professionally built new retaining wall, pavers and landscaping · AI review

Opportunities

  • Owner-occupy one unit and rent the other to cut your housing cost Listing says: Perfect for owner occupier buyer or investor · AI review
  • Separate gas and electric means tenants carry their own utility costs Listing says: gas and electric utilities are separate · AI review
  • No rent cap in Minneapolis, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
  • Two identical 2-bed units are easy to rent and compare Listing says: 2 identical 2bed/1bath units · AI review

Questions for the agent

  • What are the current rents, lease end dates and security deposits for each unit?
  • How old are the boilers, and are there one or two systems?
  • Can you share 12 months of expenses: taxes, insurance, water, trash, repairs?
  • What is the electrical service and panel type in each unit?
  • Why is the seller selling, and has the price been negotiable at 39 days on market?
  • Are the rental license and any inspection reports available?

Bottom line

Nice, well-kept duplex, but at $495K it loses about $1,300 a month as a rental, 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)$8,390
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,634
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 reserve8% / 9%

Price history Realtor.com

On the market since 2026-08-24 (42 days); last sold for $314,900 on 2016-11-18; listed for rent at $1,399/mo on 2025-09-19.

DateEventPrice
Listed$495,000
Removed—
Rent changed$1,399/mo
Listed for rent$1,499/mo
Removed—
Listed for rent$1,725/mo
Sold$314,900
Removed$314,900
Listed$314,900
Sold public record$92,500

County record Public record

Recorded asduplex
Living units2
Year built1900
Market value (2026)$443,800
Property tax$8,390
Special assessmentsnone
Homesteadno
Last sale2016-10-01 · $340,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 394, about 382 m away.

Crime in Bryn - Mawr

73 incidents in the last 12 months (26 per 1,000 residents), −3% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).