Menu
Back to Minneapolis
Minneapolis › Whittier

2732 Pillsbury Ave S

Duplex · 2 units: 4 bed and 1 bed · 3,058 sq ft

Minneapolis, MN · Whittier · View the listing ↗

Far off
41 photos
2732 Pillsbury Ave S, photo 1
1 / 41
2732 Pillsbury Ave S, photo 2
2 / 41
2732 Pillsbury Ave S, photo 3
3 / 41
2732 Pillsbury Ave S, photo 4
4 / 41
2732 Pillsbury Ave S, photo 5
5 / 41
2732 Pillsbury Ave S, photo 6
6 / 41
2732 Pillsbury Ave S, photo 7
7 / 41
2732 Pillsbury Ave S, photo 8
8 / 41
2732 Pillsbury Ave S, photo 9
9 / 41
2732 Pillsbury Ave S, photo 10
10 / 41
2732 Pillsbury Ave S, photo 11
11 / 41
2732 Pillsbury Ave S, photo 12
12 / 41
2732 Pillsbury Ave S, photo 13
13 / 41
2732 Pillsbury Ave S, photo 14
14 / 41
2732 Pillsbury Ave S, photo 15
15 / 41
2732 Pillsbury Ave S, photo 16
16 / 41
2732 Pillsbury Ave S, photo 17
17 / 41
2732 Pillsbury Ave S, photo 18
18 / 41
2732 Pillsbury Ave S, photo 19
19 / 41
2732 Pillsbury Ave S, photo 20
20 / 41
2732 Pillsbury Ave S, photo 21
21 / 41
2732 Pillsbury Ave S, photo 22
22 / 41
2732 Pillsbury Ave S, photo 23
23 / 41
2732 Pillsbury Ave S, photo 24
24 / 41
2732 Pillsbury Ave S, photo 25
25 / 41
2732 Pillsbury Ave S, photo 26
26 / 41
2732 Pillsbury Ave S, photo 27
27 / 41
2732 Pillsbury Ave S, photo 28
28 / 41
2732 Pillsbury Ave S, photo 29
29 / 41
2732 Pillsbury Ave S, photo 30
30 / 41
2732 Pillsbury Ave S, photo 31
31 / 41
2732 Pillsbury Ave S, photo 32
32 / 41
2732 Pillsbury Ave S, photo 33
33 / 41
2732 Pillsbury Ave S, photo 34
34 / 41
2732 Pillsbury Ave S, photo 35
35 / 41
2732 Pillsbury Ave S, photo 36
36 / 41
2732 Pillsbury Ave S, photo 37
37 / 41
2732 Pillsbury Ave S, photo 38
38 / 41
2732 Pillsbury Ave S, photo 39
39 / 41
2732 Pillsbury Ave S, photo 40
40 / 41
2732 Pillsbury Ave S, photo 41
41 / 41

Photos courtesy of Gatehouse Properties LTD, via Realtor.com.

Asking price
$585,000
2 units · $292K per unit
Monthly cash flow
−$1,822
at 20% down, 7%
Estimated rent
$3,475/mo
high confidence
Break-even price
$242,664
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a renovated Whittier duplex marketed to an owner-occupant, and the numbers don't work as a pure rental. Our rent estimates are about $2,425 for the 4-bed and $1,050 for the 1-bed, roughly $3,475 a month, against a $585K ask and $11K in non-homestead tax. Our underwriting shows about -$1,822 a month and a 2.6% cap rate. Last sale was $545K in July 2024, so the seller wants $40K more after a 2025 refresh. Nothing in the listing gives current rents or leases. Ask for the rent roll and the 2025 permits first. Unless you plan to live there, it's hard to justify a showing at this price.

Things to consider

  1. Cash flow is deeply negative Rents near $3,475 a month can't carry a $585K price at today's rates. Our model shows about -$1,822 a month and a break-even price near $243K.
  2. Owner-occupant math is different Living in the 1-bed or the 4-bed changes the carry and may allow owner-occupant financing. Verify loan terms with a lender.Listing says: “An excellent opportunity for an owner-occupant looking to live in one unit”
  3. Property tax is high A $11K bill as non-homestead eats about a third of gross rent. Homestead status would cut it only if you live there.
  4. Seller's markup after a quick turn Bought at $545K in mid-2024 and now asking $585K. Check whether the 2025 work justifies it.
  5. Updates look cosmetic Verify mechanicals, roof, plumbing and electrical, since 'major updates' is undefined and the building is from 1913.Listing says: “All major, high-cost updates were completed in 2025.”

From the photos

Listing photo 7
1 of 7Check

Both kitchens shown appear recently refreshed: painted cabinets, subway tile, stainless appliances, laminate-style counters. Looks cosmetic rather than a full gut.

Listing photo 3
2 of 7Plus

Two outdoor condensers on the side of the house match the central A/C claim and look fairly new, which suggests separate systems per unit.

Listing photo 5
3 of 7Plus

Detached garage and a large gravel/paved parking area at the rear support the 6-car claim.

Listing photo 2
4 of 7Concern

Downspout drains onto the ground beside the side entry. Check grading and basement moisture.

Listing photo 9
5 of 7Plus

Hardwood floors look good with fresh paint and recessed lighting. Appears move-in ready.

Listing photo 1
6 of 7Check

Roof shingles on the front porch appear in decent shape, but the main roof age can't be judged. Ask for it.

Listing photo 4
7 of 7Check

No photos of the basement, bathrooms, furnace, water heater, or electrical panel, and no shots of the upper unit's bedrooms.

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

Condition and repairs

  • doneAll major, high-cost updates completed in 2025Listing says: All major, high-cost updates were completed in 2025.
  • doneRecent inspection; Minneapolis TISH compliantListing says: The property was recently inspected and is Minneapolis TISH compliant.

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
$585,000
Cash to close
$134,550
Price per unit
$292,500
GRM
14.0

Each month

Cash flow
−$1,822/mo
Cash-on-cash
−16.3%
Cap rate
2.6%
DSCR
0.41×

Break-even

Price that breaks even
$242,664
Rent that breaks even
$5,841/mo

Long run

Year 30: property vs stocks
$1.33M vs $2.67M
Cash flow turns positive
not within 30 years

Monthly

Monthly breakdown

Rent$3,475
Vacancy (6%)−$208
Collected$3,266
Property tax Public record−$919
Insurance Estimate−$235
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$278
Capital reserve (9% of rent)−$313
Net operating income$1,292
Mortgage (principal + interest)−$3,114
Cash flow−$1,822
Principal paid down (equity, not cash)$396

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$1,334,752
Your equity when you sell
$1,334,752

Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $468,000 of loan.

Rental profits, invested at 7%
$0

$0 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$2,672,052
Cash to close, invested at 7%
$1,024,229

$134,550 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$1,647,824

$450,769 you'd have paid in while the building lost money, invested instead.

Stocks come out $1,337,300 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 $1.33M, stocks $2.67M. Stocks win.

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.

4 bed / 1 bath estimate $2,425/mo · range $2,200–$2,675

AddressRentBd / BaSq ftDistanceListedMatch
220 E 27th St, Minneapolis 55408 $2,600 4 / 1 2,516 0.4 mi 2026-04-04 95%
2711 Aldrich Ave S, Unit 2, Minneapolis 55408 off market $2,289 4 / 1 2,000 0.4 mi 2026-09-02 91%
2711 Aldrich Ave S, # 2, Minneapolis 55408 off market $2,289 4 / 1 1,850 0.4 mi 2026-09-25 90%
2709 Aldrich Ave S, Minneapolis 55408 off market $2,289 4 / 1 1,850 0.4 mi 2026-05-12 90%
2529 Pleasant Ave, Unit 2, Minneapolis 55404 $2,500 4 / 2 2,000 0.3 mi 2026-08-25 87%
214 24th St W, Unit 2, Minneapolis 55404 off market $2,195 4 / 2 2,000 0.5 mi 2026-08-27 86%
2711 Aldrich Ave S, Minneapolis 55408 off market $2,289 4 / 1 1,200 0.4 mi 2026-08-05 85%
2450 Blaisdell Ave S, Unit 2, Minneapolis 55404 off market $2,350 3 / 1 2,000 0.3 mi 2026-07-24 82%
2449 Lyndale Ave S, Minneapolis 55405 $2,395 4 / 3 1,804 0.5 mi 2026-06-02 80%
2821 1st Ave S, Minneapolis 55408 $1,600 3 / 1 1,743 0.3 mi 2026-06-17 80%

1 bed / 1 bath estimate $1,050/mo · range $900–$1,175

AddressRentBd / BaSq ftDistanceListedMatch
2725 Pleasant Ave, Apt 301, Minneapolis 55408 off market $1,100 1 / 1 — 0.0 mi 2026-07-12 94%
2821 Garfield Ave S, Minneapolis 55408 off market $1,150 1 / 1 — 0.3 mi 2026-06-04 94%
2926 Harriet Ave S, Minneapolis 55408 $1,150 1 / 1 — 0.3 mi 2026-09-15 94%
17 E 27th St, Apt 4, Minneapolis 55408 off market $830 1 / 1 — 0.3 mi 2023-10-08 94%
205 27th St E, Minneapolis 55408 $1,250 1 / 1 — 0.4 mi 2026-09-30 93%
2630 Blaisdell Ave S, Minneapolis 55408 $1,225 1 / 1 3,164 0.2 mi 2026-09-21 85%
2725 Pleasant Ave S, Unit 205, Minneapolis 55408 off market $900 0 / 1 — 0.0 mi 2026-07-15 84%
2725 Pleasant Ave S, Unit 305, Minneapolis 55408 off market $900 0 / 1 — 0.0 mi 2026-04-17 84%
2804 Blaisdell Ave, Minneapolis 55408 $950 0 / 1 — 0.1 mi 2026-10-02 84%
2633 Pleasant Ave, Minneapolis 55408 $950 0 / 1 — 0.1 mi 2026-09-22 84%

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

  • highPriced for an owner-occupant, not an investor. Rents don't support the price. Listing says: An excellent opportunity for an owner-occupant looking to live in one unit while generating rental income · AI review
  • mediumAsking is $342,336 above the price where cash flow breaks even ($242,664) at the default scenario. Based on: Derived: price $585,000 vs. break-even $242,664
  • mediumVague 'major updates' claim with no specifics on what was done, by whom, or whether permitted. Listing says: All major, high-cost updates were completed in 2025. · AI review
  • mediumTax bill is heavy at $11K for a non-homestead investor. Based on: data: county.tax · AI review

Opportunities

  • No rent cap in Minneapolis, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review
  • Off-street parking for up to 6 vehicles is rare for a duplex and helps leasing. Listing says: Off-street parking is available for up to 6 vehicles. · AI review
  • Central heat and A/C and basement laundry. Updated kitchens look low-maintenance. Listing says: along with central heating and cooling · AI review

Questions for the agent

  • Are both units occupied now? What are the rents, lease terms and end dates?
  • What exactly was done in 2025, and can you share permits and invoices?
  • Can I see the TISH inspection report and any repair list?
  • Does each unit have its own furnace, A/C and meters? Who pays what?
  • Why did the seller sell at $545K in 2024 and relist at $585K?
  • What are the roof and water heater ages?

Bottom line

Nicely refreshed duplex, but at $585K it only works if you live in one unit and accept a big monthly carry. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)$11,029
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,821
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 1913: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-09-16 (19 days); last sold for $545,000 on 2024-08-06; listed for rent at $2,600/mo on 2023-05-24.

DateEventPrice
Listed$585,000
Sold public record$545,000
Sold$565,000
Removed—
Listed for rent$2,600/mo
Listed for rent$1,500/mo
Removed—
Rent changed$1,625/mo
Listed for rent$2,600/mo
Rent changed$1,650/mo
Rent changed$1,725/mo
Removed—
Removed—
Listed for rent$1,595/mo
Price changed$575,000
Listed for rent$2,675/mo
Removed—
Listed$589,900
Listed for rent$2,675/mo
Sold public record$275,000
Sold$290,000
Listed$290,000
Sold public record$341,451
Sold public record$97,500
Sold public record$45,000

County record Public record

Recorded asduplex
Living units2
Year built1913
Market value (2026)$583,000
Property tax$11,029
Special assessmentsnone
Homesteadno
Last sale2024-07-01 · $545,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 604 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).