2752 Chicago Ave

Duplex · 2 units: 4 bed / 2 bath ×2 unit split estimated · 4,536 sq ft

Minneapolis, MN · Phillips West · View the listing ↗

Cash flows

50 photos

Photos courtesy of Keller Williams Realty, via Realtor.com.

Asking price: $475,000
Monthly cash flow: $171
Estimated rent: $5,100/mo
Break-even price: $507,210

Adjust the numbers See the full breakdown

From the listing

Rare, late Victorian up/down side-by-side duplex. With separate, private entrances and porches, each unit features three floors of living space plus a private, unfinished basement ideal for storage. The living spaces have retained their original character, with beautiful woodwork, hardwood floors, classic columns, and in one, even a window seat. One unit is vacant and move-in ready; the other has a month-to-month tenant, giving you the flexibility to retain the renter or occupy either. This gives a buyer the flexibility to live in one and use income from the other to help cover the mortgage. Abbott Northwestern Hospital is directly across the street. Midtown Global Market and other neighborhood shops are within walking distance. A newer two-car garage and two off-street spaces mean there's always a place to park.

Listing courtesy of Keller Williams Realty (Kari Lundin). Description from Realtor.com, MLS #7152658. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a side-by-side-style duplex (the listing says up/down) in Phillips West, listed 3 days at $475K. Our numbers give about $171/month cash flow at asking with 20% down and a 6.8% cap rate, so it works only just, and only if rents hit our roughly $2,550 per unit estimate. The listing gives no rents, no lease terms and no utility details, so the income side is all estimate. Photos show a solid, original-character building with a dated but usable kitchen and a stone-walled basement. Ask for the rent roll and heat costs first, then see it if the tenant's rent is near our estimate.

Things to consider

Thin cash flow at asking About $171/month at 20% down leaves little cushion for repairs or vacancy, and the break-even price is only about $32K above asking.
Income is unverified There are no stated rents, and our estimate of about $2,550 per unit may not match what the tenant pays or what the vacant unit can fetch.
Heat and utility responsibility is unknown Hot-water heat can mean owner-paid gas, which could erase the cash flow.
Old stone foundation and basement condition A 1905 building with stone walls can have moisture or structural issues that are expensive to fix.From photo 8
Month-to-month tenant means turnover risk, but also owner-occupant flexibility You can keep the tenant or take the unit, but income can drop quickly after closing.Listing says: “the other has a month-to-month tenant, giving you the flexibility to retain the renter or occupy either”

From the photos

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

Rents the listing states

Occupied unit: $0 (month-to-month)Listing says: the other has a month-to-month tenant, giving you the flexibility to retain the renter or occupy either

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: $475,000
Cash to close: $109,250
Price per unit: $237,500
GRM: 7.8

Each month

Cash flow: $171/mo
Cash-on-cash: 1.9%
Cap rate: 6.8%
DSCR: 1.07×

Break-even

Price that breaks even: $507,210
Rent that breaks even: $4,874/mo

Long run

Year 30: property vs stocks: $2.31M vs $832K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,100
Vacancy (6%)	−$306
Collected	$4,794
Property tax Public record	−$677
Insurance Estimate	−$269
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$459
Capital reserve (9% of rent)	−$459
Net operating income	$2,700
Mortgage (principal + interest)	−$2,528
Cash flow	$171
Principal paid down (equity, not cash)	$322

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$2,308,904

Your equity when you sell: $1,083,773
Rental profits, invested at 7%: $1,225,132

Same money in stocks$831,639

Cash to close, invested at 7%: $831,639

The building comes out $1,477,265 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 $2.31M, stocks $832K. The property wins.

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 / 2 bath estimate $2,550/mo · range $2,225–$2,850

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
1810 10th Ave S, Unit Lower, Minneapolis 55404 off market	$2,050	4 / 2	—	0.9 mi	2026-06-15	93%
1810 10th Ave S, Minneapolis 55404 off market	$2,150	4 / 2	—	0.9 mi	2026-06-15	93%
220 E 27th St, Minneapolis 55408	$2,600	4 / 1	2,516	0.5 mi	2026-04-04	84%
737 E 27th St, Minneapolis 55407 off market	$2,600	4 / 1.5	1,699	0.1 mi	2024-01-17	82%
739 E 27th St, Minneapolis 55407 off market	$2,600	4 / 1	1,699	0.1 mi	2022-05-23	80%
3032 3rd Ave S, Minneapolis 55408	$2,200	4 / 1	1,800	0.6 mi	2026-08-17	80%
2121 11th Ave S, Minneapolis 55404 off market	$2,289	4 / 1	1,800	0.7 mi	2026-06-12	80%
2636 14th Ave S, Apt 2, Minneapolis 55407 off market	$1,650	3 / 1	—	0.4 mi	2026-07-10	79%
2709 Bloomington Ave S, Unit 2, Minneapolis 55407 off market	$1,900	3 / 1	—	0.5 mi	2026-05-21	79%
3209 2nd Ave S, Unit 2, Minneapolis 55408 off market	$1,795	4 / 2.5	1,200	0.7 mi	2026-01-13	79%

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

mediumStone foundation and basement walls with visible flaking paint; needs a structural and moisture check Based on: photo 8 · AI review
mediumHot-water (radiator) heat with unknown metering; owner may pay heat for both units Based on: data: county.heat_type · AI review
mediumNo rent, expense or utility information in the listing, so income is unverified Listing says: One unit is vacant and move-in ready · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "vacant and move-in ready; the other has a month-to-month tenant, giving you the flexibility to retain the"

Opportunities

The seller bought for $93,000 in Mar 1995, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 3502924320138: last sale 1995-03-01, $93,000
Owner-occupy one unit and rent the other, or keep the tenant Listing says: This gives a buyer the flexibility to live in one and use income from the other to help cover the mortgage. · AI review
Minneapolis has no rent cap, so rents can rise to market after turnover Based on: data: underwriting.rent_rule · AI review
Parking is a plus: newer garage plus off-street spaces Listing says: A newer two-car garage and two off-street spaces mean there's always a place to park. · AI review

Questions for the agent

What does the month-to-month tenant pay, and when does their lease start?
Is heat one boiler or one per unit, and what were last year's gas bills?
Are the units separately metered for electric and water?
How old are the roof, boilers, wiring and panels?
Is the stone foundation sound, and has the basement ever taken on water?
Why is the seller selling after owning since 1995?

Bottom line

Charming, well-kept old duplex that barely cash flows at asking, so verify rents and heat costs before you get excited. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$8,130
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,227
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 1905: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

Price history Realtor.com

On the market since 2026-10-02 (3 days); last sold for $93,000 on 1995-04-26.

Date	Event	Price
2026-10-02	Listed	$475,000
1995-04-26	Sold public record	$93,000
1995-04-25	Sold public record	$93,000
1991-12-24	Sold public record	$56,900
1990-12-31	Sold public record	$42,500
1990-07-31	Sold public record	$42,500
1990-07-09	Sold public record	$35,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1905
Market value (2026)	$428,100
Property tax	$8,130
Special assessments	none
Homestead	no
Last sale	1995-03-01 · $93,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 674 m away.

Crime in Phillips West

312 incidents in the last 12 months (62 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).