2733 Virginia Ave N

Fourplex · 4 units: 2 bed / 1 bath ×3 and 1 bed / 1 bath unit split estimated · 3,200 sq ft

69 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $550,000
Monthly cash flow: −$19
Estimated rent: $5,750/mo
Break-even price: $546,462

Adjust the numbers See the full breakdown

From the listing

Solid investment opportunity in a desirable New Hope location! This fully rented 4-unit property offers an attractive combination of established rental income and a well-maintained building. Each unit provides comfortable living space, while the clean, well-kept common areas create a welcoming environment for residents and add to the overall appeal of the property. With all four units currently leased, this is an excellent opportunity for an investor looking for a property with established occupancy and income already in place. Conveniently located near shopping, dining, parks, schools, and major roadways, this property offers both tenant appeal and long-term investment potential.

Listing courtesy of RE/MAX Results (Kerby & Cristina Real Estate Experts). Description from Realtor.com, MLS #7132087. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 4-unit brick walk-up style building, 7 bed / 4 bath, listed at $550K, six days on market. The listing gives no rents, no expenses and no unit mix, so everything rests on our estimates. At the ask with 20% down, we show about -$19/mo cash flow and a 6.3% cap rate. Break-even price is about $546K, so it roughly breaks even at today's rates and leaves no cushion without a cut or higher real rents. Photos show dated but livable 1960s-era units, with a shared stairwell and baseboard heat visible. Get the rent roll, leases, trailing-12 expenses and the heat/meter setup first. Then decide on a showing. It's worth one only if actual rents beat our estimates.

Things to consider

No income data in the listing Without rents and expenses, the cap rate is only our estimate. A fully leased claim means little if rents are below market or leases are short.Listing says: “With all four units currently leased, this is an excellent opportunity for an investor”
Price vs. numbers At the ask, cash flow is slightly negative and break-even is just under list. Any offer needs to be tested against real rents.
Unverified parcel and taxes We couldn't match a county record, so taxes and unit count are unverified. Taxes could be higher for an investor and change the math.
Older building with unknown systems A 1965 build may have original plumbing, wiring and roof. Replacement costs would hit cash flow.
Dated interiors Original-looking kitchens and baths mean turnover costs and a refresh budget, but also room to raise rents.From photo 6

From the photos

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

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: $550,000
Cash to close: $126,500
Price per unit: $137,500
GRM: 8.0

Each month

Cash flow: −$19/mo
Cash-on-cash: −0.2%
Cap rate: 6.3%
DSCR: 0.99×

Break-even

Price that breaks even: $546,462
Rent that breaks even: $5,774/mo

Long run

Year 30: property vs stocks: $2.32M vs $965K
Cash flow turns positive: year 2

Monthly

Monthly breakdown

Rent	$5,750
Vacancy (6%)	−$345
Collected	$5,405
Property tax Listing	−$810
Insurance Estimate	−$367
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$460
Capital reserve (8% of rent)	−$460
Net operating income	$2,908
Mortgage (principal + interest)	−$2,927
Cash flow	−$19
Principal paid down (equity, not cash)	$372

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$2,317,273

Your equity when you sell: $1,254,894
Rental profits, invested at 7%: $1,062,379

Same money in stocks$964,558

Cash to close, invested at 7%: $962,950
Monthly shortfalls, invested: $1,608

The building comes out $1,352,715 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 $2.32M, stocks $965K. 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.

2 bed estimate $1,500/mo · range $1,350–$1,675 · 11 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2800 Hillsboro Ave N-2800 Hillsboro Ave N Unit …	$1,599	2 / 1	988	0.6 mi	—	Apartment
2911 Hillsboro Ave N, New Hope	$1,295	2 / 1	1,100	0.7 mi	2025-01-08	Apartment
8015 36th Ave N, New Hope	$1,775	2 / 1	976	0.9 mi	2024-04-13	Apartment
2500 Nathan Ln N, Plymouth	$1,624	2 / 1.5	1,000	1.0 mi	2024-04-26	Apartment
3501 Louisiana Ave N, Crystal	$1,589	2 / 1	1,000	1.0 mi	2026-01-14	Apartment
3501 Hillsboro Ave N, New Hope	$1,490	2 / 1	1,020	1.1 mi	2026-07-30	Apartment
7104 36th Ave N, New Hope	$1,249	2 / 1	800	1.1 mi	2026-01-21	Apartment
3610 Lancaster Ln N, Plymouth	$1,435	2 / 1	950	1.3 mi	2024-04-12	Apartment
3300 Douglas Dr N, Crystal	$1,269	2 / 1	870	1.3 mi	2026-09-29	Apartment
9630 37th Pl N, Plymouth	$1,340	2 / 1	1,000	1.4 mi	2024-06-11	Apartment

1 bed estimate $1,250/mo · range $1,200–$1,350 · 9 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2740 Xylon Ave N Apt 1, New Hope	$1,150	1 / 1	450	0.0 mi	2026-08-01	Apartment
2911 Hillsboro Ave N, New Hope	$1,075	1 / 1	790	0.7 mi	2025-01-08	Apartment
8100 36th Ave N, New Hope	$1,250	1 / 1	750	0.9 mi	2026-07-29	Apartment
7611 36th Ave N, New Hope	$1,381	1 / 1	775	0.9 mi	2025-05-15	Apartment
7710 36th Ave N, Crystal	$1,200	1 / 1	750	1.0 mi	2024-04-12	Apartment
7201 36th Ave N, Crystal	$1,185	1 / 1	710	1.1 mi	2026-02-20	Apartment
3610 Lancaster Ln N, Plymouth	$1,289	1 / 1	743	1.3 mi	2024-04-12	Apartment
9630 37th Pl N, Plymouth	$1,275	1 / 1	800	1.4 mi	2024-06-11	Apartment
9700 37th Pl N, Plymouth	$1,129	1 / 1	860	1.5 mi	2024-04-26	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

highNo rents, lease terms or expenses given; only 'established rental income' is claimed Listing says: offers an attractive combination of established rental income and a well-maintained building · AI review
mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 2733 VIRGINIA AVE N
mediumCash flow is negative at the ask, and break-even price sits below the list price Based on: data: underwriting.cash_flow_monthly · AI review
mediumBuilt 1965: check wiring type (aluminum was common then), plumbing and roof age Based on: data: listing.year_built · AI review

Opportunities

Dated kitchens and baths could support rent increases after a refresh, if the market allows (no rent cap) Based on: data: underwriting.rent_rule · AI review
Fully leased with common areas that look clean and maintained Listing says: With all four units currently leased, this is an excellent opportunity for an investor · AI review

Questions for the agent

Can I get the rent roll with lease end dates, deposits and any month-to-month tenants?
What are the trailing-12 expenses, including taxes, insurance, utilities and repairs?
Who pays heat, water and electric, and how many meters and boilers or heaters are there?
What's the unit mix, and are all four units licensed rentals?
What are the ages of the roof, windows, water heaters and electrical panels?
Why is the owner selling, and how long have they owned it?

Bottom line

A clean-looking 1965 fourplex that roughly breaks even at $550K on our numbers, so the real rents and expenses decide whether it's worth pursuing. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$9,718
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,400
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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. base rate	8% / 8%

Price history Realtor.com

On the market since 2026-09-29 (6 days).

Date	Event	Price
2026-09-29	Listed	$550,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$9,718
County	Hennepin
Parcel number	1911821440073

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Hope on rental licensing before you buy.