3010 Tyler St NE

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 2,510 sq ft

Minneapolis, MN · Audubon Park · View the listing ↗

Overpriced

51 photos

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

Asking price: $465,000
Monthly cash flow: −$830
Estimated rent: $3,550/mo
Break-even price: $309,149

Adjust the numbers See the full breakdown

From the listing

Opportunity knocks in Audubon Park! This classic Northeast Minneapolis side-by-side duplex offers two inviting units, each with its own private entrance, separate electric meters, and individual central air. Move in with piece of mind knowing a brand new roof will be installed in October! The 3-bedroom, 1-bath unit pairs a welcoming main-level kitchen, dining, and living area with three generous bedrooms upstairs, and has been thoughtfully refreshed with plush new carpeting, refinished hardwood floors, and original wide millwork that honors the home's timeless character, from the leaded-glass front door to the charming built-in corner cabinet. Its kitchen features oak cabinetry, a full stainless appliance suite with gas range, and a roomy pantry, while the renovated full bath shines with a new vanity and flooring. The 2-bedroom, 1-bath unit offers an easy main-level layout with a bright living room and a kitchen pairing rich dark cabinetry, a crisp subway tile backsplash, and stainless appliances - plus a bonus reading room at the top of the stairs, perfect for a quiet retreat or home office. Each unit enjoys its own private lower level with its own washer and dryer set and abundant storage, and the oversized detached garage has room for vehicles, hobbies, and more. All this just steps from Audubon Park's playgrounds, ball fields, and splash pad, moments from Central Avenue's restaurants and coffee shops, and a quick trip to downtown Minneapolis.

Listing courtesy of Keller Williams Realty (Bethany Nelson). Description from Realtor.com, MLS #7144626. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a clean-looking side-by-side duplex in Audubon Park, but the price does not work at today's rates. At $465K, our numbers show a 4.2% cap rate and about -$830/month cash flow with 20% down. Break-even is near $309K, so you would be paying about 50% more than current rents support. The listing gives no rents or lease terms, so the first ask is a rent roll with lease dates and trailing-12 expenses. The new roof promised for October and the separate electric meters are real positives. It sold for $258K in 2014 and has been listed only 2 days, so there is little pricing history to lean on. Only worth a showing if the seller is far below ask or the rents are much higher than our estimates.

Things to consider

Price is far above what the income supports Our break-even is about $309K against a $465K ask. At today's rates this loses over $800 a month with 20% down.
Rents are unknown Without a rent roll, income is only our estimate of roughly $3,550 a month combined. Actual rents and lease terms drive value.
Roof is promised, not done A roof replacement is a major cost. Get the contract, scope and who pays in writing.Listing says: “a brand new roof will be installed in October”
Tenant-paid utilities help the expense side Separate meters and individual air conditioning keep owner expenses lower. Confirm who pays heat and water.Listing says: “separate electric meters, and individual central air”
Ceiling wiring and 1900 vintage raise electrical questions Surface conduit and an old house can mean panel upgrades or insurer pushback. Get an electrician to look.From photo 2
Licensed as a 2-unit rental Active Tier 1 license supports legal rental status and a clean compliance history.

From the photos

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

Condition and repairs

doneBrand new roof to be installed in OctoberListing says: a brand new roof will be installed in October
done3-bed unit refreshed: new carpet, refinished hardwoodsListing says: plush new carpeting, refinished hardwood floors
done3-bed unit bath renovated with new vanity and flooringListing says: the renovated full bath shines with a new vanity and flooring

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: $465,000
Cash to close: $106,950
Price per unit: $232,500
GRM: 10.9

Each month

Cash flow: −$830/mo
Cash-on-cash: −9.3%
Cap rate: 4.2%
DSCR: 0.66×

Break-even

Price that breaks even: $309,149
Rent that breaks even: $4,627/mo

Long run

Year 30: property vs stocks: $1.17M vs $1.27M
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$3,550
Vacancy (6%)	−$213
Collected	$3,337
Property tax Public record	−$636
Insurance Estimate	−$223
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$284
Capital reserve (9% of rent)	−$320
Net operating income	$1,645
Mortgage (principal + interest)	−$2,475
Cash flow	−$830
Principal paid down (equity, not cash)	$315

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$1,173,052

Your equity when you sell: $1,060,956
Rental profits, invested at 7%: $112,095

Same money in stocks$1,272,376

Cash to close, invested at 7%: $814,131
Monthly shortfalls, invested: $458,245

Stocks come out $99,324 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 $1.17M, stocks $1.27M. Stocks win.

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.

3 bed estimate $1,900/mo · range $1,800–$2,300 · 6 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
920 24th Ave NE, Minneapolis	$2,388	3 / 1	1,223	0.7 mi	2026-07-21	Apartment
2318 Jefferson St NE, Minneapolis	$1,715	3 / 1.5	—	0.9 mi	2025-11-06	Apartment
1709 Fillmore St NE, Minneapolis	$2,099	3 / 1	1,350	1.2 mi	2026-08-04	Apartment
1460 Van Buren St NE, Minneapolis	$1,570	3 / 1.5	1,154	1.3 mi	2026-07-30	Apartment
1622 Washington St NE, Minneapolis	$1,795	3 / 1	1,200	1.4 mi	2026-09-21	Apartment
1322 Central Ave NE Unit 1, Minneapolis	$1,800	3 / 1	1,150	1.4 mi	2026-09-10	Duplex triplex

2 bed estimate $1,650/mo · range $1,550–$1,725 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2902 Polk St NE, Minneapolis	$1,500	2 / 1	—	0.2 mi	2025-11-21	Apartment
1028 28th Ave NE, Minneapolis	$1,595	2 / 1	950	0.3 mi	2026-10-03	Apartment
2636 Jackson St NE Unit 2, Minneapolis	$1,600	2 / 1	881	0.5 mi	—	Apartment
2526 Polk St NE, Minneapolis	$1,700	2 / 1	1,300	0.6 mi	2026-08-18	Apartment
2550 Jefferson St NE Apt 1, Minneapolis	$1,495	2 / 1	1,000	0.7 mi	2026-05-27	Apartment
920 24th Ave NE, Minneapolis	$1,350	2 / 1	845	0.7 mi	2026-07-21	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 or lease terms given; income is unverified Based on: data: rent_estimate · AI review
mediumAsking is $155,851 above the price where cash flow breaks even ($309,149) at the default scenario. Based on: Derived: price $465,000 vs. break-even $309,149
mediumRoof is not installed yet; confirm scope, contractor, who pays and completion before closing Listing says: a brand new roof will be installed in October · AI review
medium1900 build with unknown electrical panel and wiring; no panel photos Based on: data: listing.year_built · AI review
lowTax bill is non-homestead at about $7.6K, a heavy drag on cash flow Based on: data: county.tax · AI review

Opportunities

Separate electric meters and individual central air mean tenants likely carry their own utilities Listing says: separate electric meters, and individual central air · AI review
Each unit has its own washer/dryer and storage, which supports rent and tenant retention Listing says: Each unit enjoys its own private lower level with its own washer and dryer set · AI review
Oversized detached garage could bring garage rent or add value Listing says: the oversized detached garage has room for vehicles, hobbies, and more · AI review
Minneapolis has no rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What are the current rents, lease end dates and security deposits for each unit?
Who is installing the roof, what is the contract and warranty, and who pays?
Who pays heat? Is there one furnace or two, and how old are they?
What are the trailing-12 expenses: taxes, insurance, repairs, water and trash?
What is the age of the electrical panels and the wiring?
Is the garage shared or assigned, and are there any other parking arrangements?

Bottom line

Nice, low-maintenance side-by-side, but $465K is about 50% more than the rents support, so only negotiate if the seller comes way down. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$7,627
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,670
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	8% / 9%

Price history Realtor.com

On the market since 2026-09-30 (5 days); last sold for $259,900 on 2014-04-01.

Date	Event	Price
2026-09-30	Listed	$465,000
2014-04-01	Sold	$259,900
2014-01-23	Listed	$259,900
2009-10-23	Sold	$155,900
2009-08-28	Listed	$147,900
2009-02-01	Removed	$149,900
2008-09-10	Listed	$199,900
2004-05-10	Sold public record	$289,900

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$401,600
Property tax	$7,627
Special assessments	none
Homestead	no
Last sale	2014-03-01 · $258,000

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 2433 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).