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2742 Taylor St NE

Duplex · 2 units: 2 bed / 1 bath and 3 bed / 1 bath · 1,972 sq ft

Minneapolis, MN · Audubon Park · View the listing ↗

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Photos, via Realtor.com.

Asking price
$375,000
2 units · $188K per unit
Monthly cash flow
−$158
at 20% down, 7%
Estimated rent
$3,550/mo
medium confidence · 8 rentals within 1.5 mi
Break-even price
$345,343
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a flipped up/down duplex in Minneapolis priced at $375K, up from a $230K purchase a year ago. Our numbers say it doesn't work at ask: about -$158/month cash flow with 20% down, a 5.9% cap rate, and a break-even price near $345K. The photos show a cosmetic refresh (paint, flooring, countertops, fixtures) over a 1900 house, so the real question is what was done behind the walls. The listing gives no rents, no heat or utility detail beyond hot-water heat in the county data, and no permits. Check for a rental license, permits, and the boiler and electrical first. It's only worth a showing if the seller will come down toward the mid-$300s.

Things to consider

  1. Price is above what the rents support Our underwriting shows negative cash flow of about $158 a month at ask and a break-even price near $345K, so you'd be paying a flip premium that rents don't cover.
  2. Big jump from last sale The seller paid $230K a year ago and wants $375K. Cosmetic work rarely justifies that gap, so the offer should be anchored on rents, not on the renovation story.
  3. Rental license and permit status unknown No rental license is on file, and a licensing inspection could force repairs or delay renting. Unpermitted work can also cause problems at inspection or insurance.
  4. Systems are unaddressed The description is all finishes. A 1900 duplex with radiators needs boiler, wiring, plumbing and foundation checks, and those costs aren't in a cosmetic flip.Listing says: “This property combines classic character with stylish, modern updates throughout both units.”
  5. Taxes are billed on the homestead rate County shows homestead status. An investor pays the higher non-homestead rate, which would worsen the numbers.

From the photos

Listing photo 2
1 of 8Check

Exterior has fresh dark gray paint on the front and a new-looking porch; the rear siding looks older and unpainted, so the refresh appears front-focused.

Listing photo 7
2 of 8Plus

Kitchen has white cabinets, new-looking counters, stainless fridge and vinyl plank flooring. Looks recent and rent-ready, though mostly cosmetic.

Listing photo 10
3 of 8Plus

Both kitchens appear to be similarly updated, supporting two finished units. Gas ranges appear in both.

Listing photo 5
4 of 8Check

Cast-iron radiators remain in the bathroom and bedrooms, so the hot-water boiler is original-style and its age is unknown.

Listing photo 9
5 of 8Concern

Stair carpet and drop-ceiling tiles in the entry and bedroom suggest older, budget finishes in parts of the house.

Listing photo 2
6 of 8Check

Rear has a stacked open porch/deck structure and a basement window well area; check porch framing and the foundation condition at grade.

Listing photo 3
7 of 8Check

No photos of the basement, boiler, electrical panel, roof close-up or laundry, so the major systems are unseen.

Listing photo 8
8 of 8Plus

Bathrooms are updated with new vanity and tile in one, and a corner shower with a pedestal sink in another. Quality varies between them.

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

Condition and repairs

  • doneMain-level refresh: flooring, paint, countertops, fixturesListing says: refreshed with new flooring, fresh paint, updated countertops, new fixtures, and high-end finishes throughout
  • doneUpper-level refresh: flooring, paint, countertops, fixturesListing says: including new flooring, fresh paint, updated countertops, fixtures, and attractive finishes

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
$375,000
Cash to close
$86,250
Price per unit
$187,500
GRM
8.8

Each month

Cash flow
−$158/mo
Cash-on-cash
−2.2%
Cap rate
5.9%
DSCR
0.92×

Break-even

Price that breaks even
$345,343
Rent that breaks even
$3,750/mo

Long run

Year 30: property vs stocks
$1.39M vs $683K
Cash flow turns positive
year 5

Monthly

Monthly breakdown

Rent$3,550
Vacancy (6%)−$213
Collected$3,337
Property tax Listing−$526
Insurance Estimate−$210
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (7% of rent)−$249
Capital reserve (8% of rent)−$284
Net operating income$1,838
Mortgage (principal + interest)−$1,996
Cash flow−$158
Principal paid down (equity, not cash)$254

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$1,389,710
Your equity when you sell
$855,610

Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $300,000 of loan.

Rental profits, invested at 7%
$534,100

$287,782 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$682,980
Cash to close, invested at 7%
$656,557

$86,250 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$26,423

$3,890 you'd have paid in while the building lost money, invested instead.

The building comes out $706,730 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 $1.39M, stocks $683K. 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 $1,675/mo · range $1,525–$1,675 · 11 rentals within 0.75 mi

AddressRentBd / BaSq ftDistanceListedType
1028 28th Ave NE, Minneapolis $1,595 2 / 1 950 0.0 mi 2026-10-03 Apartment
2902 Polk St NE, Minneapolis $1,500 2 / 1 — 0.2 mi 2025-11-21 Apartment
2636 Jackson St NE Unit 2, Minneapolis $1,600 2 / 1 881 0.3 mi — Apartment
2526 Polk St NE, Minneapolis $1,700 2 / 1 1,300 0.3 mi 2026-08-18 Apartment
920 24th Ave NE, Minneapolis $1,350 2 / 1 845 0.5 mi 2026-07-21 Apartment
2207 1/2 Central Ave NE Apt 4, Minneapolis $1,600 2 / 1 1,000 0.6 mi 2023-03-22 Apartment
2550 Jefferson St NE Apt 1, Minneapolis $1,495 2 / 1 1,000 0.6 mi 2026-05-27 Apartment
2015 Central Ave NE, Minneapolis $1,600 2 / 1 1,050 0.6 mi 2025-01-03 Apartment
2005 Taylor St NE # 2, Minneapolis $1,595 2 / 1 900 0.6 mi — Duplex triplex
1010 20th Ave NE Unit 2, Minneapolis $1,395 2 / 1 730 0.7 mi 2026-09-17 Duplex triplex

3 bed estimate $1,875/mo · range $1,800–$2,200 · 8 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
920 24th Ave NE, Minneapolis $2,388 3 / 1 1,223 0.5 mi 2026-07-21 Apartment
2318 Jefferson St NE, Minneapolis $1,715 3 / 1.5 — 0.7 mi 2025-11-06 Apartment
1709 Fillmore St NE, Minneapolis $2,099 3 / 1 1,350 0.9 mi 2026-08-04 Apartment
1460 Van Buren St NE, Minneapolis $1,570 3 / 1.5 1,154 1.0 mi 2026-07-30 Apartment
1622 Washington St NE, Minneapolis $1,795 3 / 1 1,200 1.1 mi 2026-09-21 Apartment
1322 Central Ave NE Unit 1, Minneapolis $1,800 3 / 1 1,150 1.1 mi 2026-09-10 Duplex triplex
1226 Adams St NE, Minneapolis $2,049 3 / 1 1,750 1.4 mi 2026-07-08 Apartment
742 Buchanan St NE, Minneapolis $1,700 3 / 1 — 1.4 mi 2026-04-02 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

  • highCosmetic flip with no mention of systems (boiler, electrical, plumbing, roof, foundation) Listing says: Move-in ready with many of the updates already completed · AI review
  • mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 2742 TAYLOR ST N E
  • mediumBought for $230,000 in Oct 2025; asking is 63% more 12 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 1202924220120: last sale 2025-10-01, $230,000
  • mediumPhotos show the basement is unfinished and unseen; a 1900 house may have an old stone foundation and old mechanicals Listing says: The unfinished basement provides additional storage space and plenty of possibilities for future use. · AI review
  • mediumRadiators in the photos indicate a hot-water boiler system of unknown age that the listing does not mention Based on: photo 5 · AI review

Opportunities

  • No rent cap in Minneapolis, so rents can follow the market on turnover and new leases Based on: data: underwriting.rent_rule · AI review
  • Both units look freshly finished, so little near-term cosmetic spend is likely and rent-ready condition may support the high end of the estimate Based on: photo 7 · AI review
  • Ample off-street parking is a plus for renters in this area Listing says: The property also features ample off-street parking, making it convenient for occupants of both units. · AI review

Questions for the agent

  • Who did the renovation, and were permits pulled for the work? Can I see them?
  • How old are the boiler, water heater, electrical panel and roof?
  • Is the building licensed as a rental, and when was the last inspection?
  • Is each unit separately metered for gas and electric, and is there one boiler or two?
  • What are the expected rents, and is either unit leased or vacant now?
  • Why did the price go from $230K to $375K in a year?

Bottom line

Pretty flip, but at $375K it loses about $160 a month and only starts to pencil near $345K, so verify permits and systems before offering anywhere close to ask. 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.$6,315
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,522
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 reserve; "fully updated" in the description: -1 pts each7% / 8%

Price history Realtor.com

On the market since 2026-09-17 (18 days); down $24,900 (6.2%) from the first ask of $399,900; last sold for $230,000 on 2025-10-23; listed for rent at $975/mo on 2023-10-12.

DateEventPrice
Price changed$375,000
Listed$399,900
Sold public record$230,000
Removed—
Listed for rent$975/mo
Removed—
Listed for rent$945/mo
Rental removed$899/mo
Listed for rent$899/mo
Rental removed$899/mo
Listed for rent$899/mo
Sold public record$225,000
Sold public record$53,000
Sold public record$52,900

County record Public record

Recorded asduplex
Living units2
Year built1900
Market value (2026)$416,200
Property tax$6,315
Special assessmentsnone
Homesteadno
Last sale2025-10-01 · $230,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 35W, about 1911 m away.

Crime in Audubon Park

157 incidents in the last 12 months (29 per 1,000 residents), +10% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).