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2740 Lyndale Ave S

5 units · 5 units: 2 bed / 1 bath ×3 and 1 bed / 1 bath ×2 unit split estimated · 2,856 sq ft

Minneapolis, MN · Lowry Hill East · View the listing ↗

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9 photos
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2740 Lyndale Ave S, photo 9
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Photos courtesy of National Realty Guild - Broker, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price
$650,000
5 units · $130K per unit
Monthly cash flow
−$118
at 20% down, 7%
Estimated rent
$7,025/mo
medium confidence · 23 rentals within 0.75 mi
Break-even price
$627,895
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 4-plex on Lyndale in Uptown, asking $650K, and it has sat 207 days. Our underwriting at ask shows about -$118/month cash flow and a 6.2% cap, with break-even near $628K, so it doesn't work at today's rates without a price cut. The county counts 5 units and the city licenses 4, so the unit count is the first thing to nail down, since the basement 'possibility more units' talk invites trouble. The description claims a full remodel with permits pulled, but the listing gives no rents, and one unit is being held vacant, so ask for the rent roll and permit history. The Tier 2 license and the flat roof are the other early checks. Worth a showing only if the seller will come down toward break-even or lower.

Things to consider

  1. Negative cash flow at the ask Our model shows about -$118/month at asking price with break-even near $628K. Any offer needs to be below that for the numbers to work.
  2. Unit count mismatch The city licenses 4 units and the county counts 5. A fifth unit may not be legal to rent, which affects income and financing.Listing says: “possibility more units”
  3. Flat roof and stucco Flat roofs leak at seams and drains, and a roof claimed as remodeled still needs a documented age and moisture check.Listing says: “Roof, Boilers, Furnaces, electrical etc (all permits pulled)”
  4. Tier 2 rental license The city has flagged more violations here than typical, so expect more inspections and possible repair orders that cost money.
  5. No rents disclosed Without a rent roll you can't verify income. Our rent estimates are $1,350-$1,675 for 2-beds, but they are estimates.
  6. Long time on market 207 days gives you leverage to push for a lower price or seller concessions.

From the photos

Listing photo 1
1 of 7Concern

Stucco exterior with a flat roofline and a visible crack in the stucco above the first-floor windows. Inspect the stucco and roof edge for moisture.

Listing photo 2
2 of 7Plus

Kitchen appears updated with granite-look counters, stainless appliances and shaker cabinets, so it looks renter-ready in this unit.

Listing photo 4
3 of 7Plus

Flooring appears to be vinyl plank, a cosmetic update that is durable and cheap to replace.

Listing photo 5
4 of 7Check

Baseboard hot-water-style radiators are visible along walls, which seems at odds with the county's forced-air record. Confirm what heat each unit actually has.

Listing photo 9
5 of 7Concern

A window air-conditioning unit sits in the bedroom window, so central AC appears to be missing.

Listing photo 9
6 of 7Plus

The bedroom has a walk-in closet and a window, so it appears to count as a legal bedroom. Egress is not confirmed.

Listing photo 1
7 of 7Check

Photos show only one unit's interior. No bathrooms, basement, boilers, electrical panels or other units are shown. Request them.

Based on 9 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

  • doneRoof, boilers, furnaces, electrical remodeled by previous owner, permits pulledListing says: Building completely remodeled by previous owner : Roof, Boilers, Furnaces, electrical etc (all permits pulled)

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
$650,000
Cash to close
$149,500
Price per unit
$130,000
GRM
7.7

Each month

Cash flow
−$118/mo
Cash-on-cash
−0.9%
Cap rate
6.2%
DSCR
0.97×

Break-even

Price that breaks even
$627,895
Rent that breaks even
$7,180/mo

Long run

Year 30: property vs stocks
$2.59M vs $1.15M
Cash flow turns positive
year 3

Monthly

Monthly breakdown

Rent$7,025
Vacancy (6%)−$422
Collected$6,604
Property tax Public record−$1,034
Insurance Estimate−$478
Water, sewer, trash Estimate−$425
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (9% of rent)−$632
Capital reserve (9% of rent)−$632
Net operating income$3,342
Mortgage (principal + interest)−$3,460
Cash flow−$118
Principal paid down (equity, not cash)$440

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$2,588,198
Your equity when you sell
$1,483,058

Sells for $1,577,721 (value up 3% a year), minus 6% selling cost ($94,663). Rent paid down $520,000 of loan.

Rental profits, invested at 7%
$1,105,141

$567,220 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$1,150,261
Cash to close, invested at 7%
$1,138,032

$149,500 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$12,229

$1,740 you'd have paid in while the building lost money, invested instead.

The building comes out $1,437,937 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 $2.59M, stocks $1.15M. 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 $1,475/mo · range $1,350–$1,675 · 23 rentals within 0.75 mi

AddressRentBd / BaSq ftDistanceListedType
2800 Grand Ave S, Minneapolis $1,195 2 / 1 800 0.2 mi 2025-01-03 Apartment
2644 Dupont Ave S Unit 1, Minneapolis $1,575 2 / 1 945 0.3 mi — Apartment
2941 Harriet Ave S, Minneapolis $1,425 2 / 1 566 0.3 mi 2026-06-23 Apartment
500 W Lake St Apt 222, Minneapolis $1,699 2 / 1 951 0.3 mi — Apartment
2525 Harriet Ave, Minneapolis $1,495 2 / 1 761 0.3 mi 2026-07-20 Apartment
410 W Lake St, Minneapolis $1,715 2 / 1 877 0.3 mi 2026-03-04 Apartment
2611 Pleasant Ave, Minneapolis $1,430 2 / 1 750 0.3 mi 2025-04-30 Apartment
2825 Fremont Ave S, Minneapolis $1,635 2 / 1 925 0.3 mi 2024-04-12 Apartment
900 W 25th St, Minneapolis $1,299 2 / 1 1,000 0.4 mi 2026-03-04 Apartment
2626 Fremont Ave S, Minneapolis $1,225 2 / 1 800 0.4 mi 2024-04-15 Apartment

1 bed estimate $1,300/mo · range $1,125–$1,525 · 25 rentals within 0.5 mi

AddressRentBd / BaSq ftDistanceListedType
607 W 28th St, Minneapolis $1,480 1 / 1 578 0.1 mi 2026-04-08 Apartment
2813-15 Garfield Ave S, Minneapolis $1,250 1 / 1 620 0.1 mi 2026-09-30 Apartment
2841 Bryant Ave S, Minneapolis $1,500 1 / 1 715 0.1 mi 2025-09-24 Apartment
2833 Lyndale Ave S, Minneapolis $1,549 1 / 1 782 0.1 mi 2024-04-12 Apartment
2645 Garfield Ave Apt 1, Minneapolis $1,295 1 / 1 600 0.1 mi 2026-09-16 Duplex triplex
2641 Garfield Ave S, Minneapolis $985 1 / 1 550 0.1 mi 2024-04-15 Apartment
2621 Lyndale Ave S, Minneapolis $1,650 1 / 1 691 0.2 mi 2026-10-02 Apartment
2800 Colfax Ave S, Minneapolis $1,050 1 / 1 — 0.2 mi 2024-04-15 Apartment
2715 Dupont Ave S, Minneapolis $1,029 1 / 1 — 0.2 mi 2026-09-03 Apartment
2908 Bryant Ave S, Minneapolis $1,159 1 / 1 730 0.2 mi 2026-05-08 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

  • highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 2740 LYNDALE AVE S, units=4
  • mediumRental license Tier 2: the city has flagged more violations than typical; expect more frequent inspections and repair orders. Public record: Minneapolis Active Rental Licenses: 2740 LYNDALE AVE S, grade/tier=Tier 2, status=Active
  • mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 3302924410067: roof=Flat, exterior=WOOD
  • mediumUnit 2 is vacant and held for the sale, so there is no proof of its rent and the income picture is incomplete. Listing says: Unit 2 being held vacant for sale. · AI review
  • mediumBasement 'more units' talk is speculative, and the city license covers only 4 units while the county counts 5. Don't pay for unpermitted units. Listing says: possibility more units · AI review
  • lowSold for $780K in 2018 and now asking $650K, with a county value of $656K. Property tax of about $12.4K is heavy against likely rents. Based on: data: county.tax · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 207 days on market
  • 207 days on market suggests room to negotiate toward the $628K break-even or lower. Based on: data: listing.days_on_market · AI review
  • Separate boilers/furnaces per unit mean tenants likely pay their own heat, which lowers owner expenses. Confirm metering. Listing says: 4 separate boilers/furnaces keeps expenses low! · AI review
  • Eight off-street spaces are a real draw in Uptown. Listing says: 8 off street parking spots. · AI review

Questions for the agent

  • Can I see the current rent roll, lease dates and security deposits for all occupied units?
  • What was Unit 2 rented at before it was held vacant, and why is it being held vacant?
  • Do you have the permit records for the roof, boilers and electrical, and how old is the flat roof?
  • What is the legal unit count? The city license says 4 and the county says 5.
  • What is the Tier 2 rental license history, and are there open violations or orders?
  • Do tenants pay their own heat and electric, and are all units separately metered?

Bottom line

Decent location and a reportedly remodeled building, but at $650K it loses money monthly, so it only works at a lower price once rents, unit count and the flat roof check out. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)$12,410
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$5,735
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$425
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 1909: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear9% / 9%

Price history Realtor.com

On the market since 2026-03-12 (207 days); down $30,000 (4.4%) from the first ask of $680,000; last sold for $780,000 on 2018-10-29.

DateEventPrice
Price changed$650,000
Removed$700,000
Removed$780,000
Removed$800,000
Listed$680,000
Removed—
Price changed$924,900
Listed$949,900
Rental removed$1,375/mo
Sold$780,000
Sold$795,000
Relisted$795,000
Removed$795,000
Listed$795,000
Sold public record$90,000
Sold public record$130,000
Sold public record$90,000

County record Public record

Recorded asapartment 4 or 5 unit
Living units5
Year built1909
Market value (2026)$656,000
Property tax$12,410
Special assessmentsnone
Homesteadno
Last sale2018-10-01 · $780,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 4 unit(s), Tier 2, status active, renews 2027-03-01.

Nearest highway

I 35W, about 1106 m away.

Crime in Lowry Hill East

647 incidents in the last 12 months (74 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).