3101 E 24th St
5 units · 5 units: 3 bed / 1 bath ×2 and 2 bed / 1 bath ×3 unit split estimated · 4,464 sq ft
Minneapolis, MN · Seward · View the listing ↗
Photos courtesy of Engel & Volkers Americas, Inc, 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
- $875,000 5 units · $175K per unit
- Monthly cash flow
- −$1,000 at 20% down, 7%
- Estimated rent
- $7,450/mo medium confidence
- Break-even price
- $687,134 where cash flow hits $0
First look
The description says fourplex with four 3-bed/1-bath units, but county records and the listing facts count 5 units, and the city rental license covers only 4. Settle that first, because our numbers assume 5 units with mixed bed counts and the real unit mix could change the income a lot. At $875K the deal does not work today: we get about -$1,000/month cash flow at a 5.0% cap, and our break-even price is about $687K. The seller paid $700K in 2021 and the county values it at $635K, so the ask is well above both. No rents are given, so get the rent roll, leases and 12 months of expenses before anything else. It has sat 101 days, so there is room to negotiate, but only worth a showing if the seller will come down hard or the rents prove much stronger than our estimates.
Things to consider
- Unit count doesn't match the license If there are really 5 units and only 4 are licensed, you could face legal and insurance trouble and lose that income. If there are only 4, our numbers are off.
- Price doesn't work at current rates Cash flow is about -$1,000/month at ask and break-even is around $687K. You would need a big price cut or rents well above estimate.
- Ask is above past sale and county value The seller paid $700K in 2021 and the county says $635K. Paying $875K means banking on rent growth that isn't shown.
- Heat setup and who pays Hot-water heat from one boiler is a large expense if the owner pays. Individual control does not mean individual billing.Listing says: “Each unit has access to control their own heat! It's how the boiler system was set up.”
- Rents and lease terms are unverified The listing says all units are leased on year-long leases but gives no rent amounts, so income can't be checked against our estimates.Listing says: “All units are fully leased!”
- Negotiating room Over 100 days on market suggests the seller may accept a lower price.
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
- donePaint and some newer appliances installed under new ownershipListing says: Updates such as paint and some newer appliances installed to units through new ownership
- doneNewer dryer replacing previous coin-op dryerListing says: Coin-op washer, and free newer dryer to replace previous coin-op.
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
- $875,000
- Cash to close
- $113,750
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$2,074/mo
- Cash-on-cash
- −21.9%
- Cap rate
- 5.0%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $558,334
- Rent that breaks even
- $10,179/mo
Long run
- Year 30: property vs stocks
- $2.35M vs $1.81M
- Cash flow turns positive
- year 15
The deal
- Price
- $875,000
- Cash to close
- $113,750
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$2,704/mo
- Cash-on-cash
- −28.5%
- Cap rate
- 4.2%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $462,113
- Rent that breaks even
- $11,454/mo
Long run
- Year 30: property vs stocks
- $2.07M vs $2.51M
- Cash flow turns positive
- year 23
The deal
- Price
- $865,000
- Cash to close
- $112,450
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$2,009/mo
- Cash-on-cash
- −21.4%
- Cap rate
- 5.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $558,334
- Rent that breaks even
- $10,093/mo
Long run
- Year 30: property vs stocks
- $2.35M vs $1.75M
- Cash flow turns positive
- year 14
The deal
- Price
- $865,000
- Cash to close
- $112,450
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$2,639/mo
- Cash-on-cash
- −28.2%
- Cap rate
- 4.2%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $462,113
- Rent that breaks even
- $11,357/mo
Long run
- Year 30: property vs stocks
- $2.05M vs $2.43M
- Cash flow turns positive
- year 22
The deal
- Price
- $875,000
- Cash to close
- $201,250
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$1,000/mo
- Cash-on-cash
- −6.0%
- Cap rate
- 5.0%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $687,134
- Rent that breaks even
- $8,766/mo
Long run
- Year 30: property vs stocks
- $2.59M vs $1.90M
- Cash flow turns positive
- year 11
The deal
- Price
- $875,000
- Cash to close
- $201,250
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$1,630/mo
- Cash-on-cash
- −9.7%
- Cap rate
- 4.2%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $568,716
- Rent that breaks even
- $9,864/mo
Long run
- Year 30: property vs stocks
- $2.18M vs $2.47M
- Cash flow turns positive
- year 18
The deal
- Price
- $865,000
- Cash to close
- $198,950
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$947/mo
- Cash-on-cash
- −5.7%
- Cap rate
- 5.1%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $687,134
- Rent that breaks even
- $8,696/mo
Long run
- Year 30: property vs stocks
- $2.60M vs $1.85M
- Cash flow turns positive
- year 10
The deal
- Price
- $865,000
- Cash to close
- $198,950
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$1,577/mo
- Cash-on-cash
- −9.5%
- Cap rate
- 4.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $568,716
- Rent that breaks even
- $9,785/mo
Long run
- Year 30: property vs stocks
- $2.17M vs $2.40M
- Cash flow turns positive
- year 18
The deal
- Price
- $875,000
- Cash to close
- $245,000
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$709/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.0%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $732,943
- Rent that breaks even
- $8,383/mo
Long run
- Year 30: property vs stocks
- $2.76M vs $2.07M
- Cash flow turns positive
- year 8
The deal
- Price
- $875,000
- Cash to close
- $245,000
- Price per unit
- $175,000
- GRM
- 9.8
Each month
- Cash flow
- −$1,339/mo
- Cash-on-cash
- −6.6%
- Cap rate
- 4.2%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $606,630
- Rent that breaks even
- $9,433/mo
Long run
- Year 30: property vs stocks
- $2.26M vs $2.55M
- Cash flow turns positive
- year 15
The deal
- Price
- $865,000
- Cash to close
- $242,200
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$659/mo
- Cash-on-cash
- −3.3%
- Cap rate
- 5.1%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $732,943
- Rent that breaks even
- $8,317/mo
Long run
- Year 30: property vs stocks
- $2.77M vs $2.03M
- Cash flow turns positive
- year 8
The deal
- Price
- $865,000
- Cash to close
- $242,200
- Price per unit
- $173,000
- GRM
- 9.7
Each month
- Cash flow
- −$1,289/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 4.2%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $606,630
- Rent that breaks even
- $9,359/mo
Long run
- Year 30: property vs stocks
- $2.25M vs $2.49M
- Cash flow turns positive
- year 15
Monthly
Monthly breakdown
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$5,239 |
| PMI | −$492 |
| Cash flow | −$2,074 |
| Principal paid down (equity, not cash) | $667 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$5,239 |
| PMI | −$492 |
| Cash flow | −$2,704 |
| Principal paid down (equity, not cash) | $667 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$5,179 |
| PMI | −$487 |
| Cash flow | −$2,009 |
| Principal paid down (equity, not cash) | $659 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$5,179 |
| PMI | −$487 |
| Cash flow | −$2,639 |
| Principal paid down (equity, not cash) | $659 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$4,657 |
| Cash flow | −$1,000 |
| Principal paid down (equity, not cash) | $593 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$4,657 |
| Cash flow | −$1,630 |
| Principal paid down (equity, not cash) | $593 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$4,604 |
| Cash flow | −$947 |
| Principal paid down (equity, not cash) | $586 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$4,604 |
| Cash flow | −$1,577 |
| Principal paid down (equity, not cash) | $586 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$4,366 |
| Cash flow | −$709 |
| Principal paid down (equity, not cash) | $556 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$4,366 |
| Cash flow | −$1,339 |
| Principal paid down (equity, not cash) | $556 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Net operating income | $3,657 |
| Mortgage (principal + interest) | −$4,316 |
| Cash flow | −$659 |
| Principal paid down (equity, not cash) | $549 |
| Rent | $7,450 |
| Vacancy (6%) | −$447 |
| Collected | $7,003 |
| Property tax Public record | −$1,005 |
| Insurance Estimate | −$515 |
| Water, sewer, trash Estimate | −$425 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$670 |
| Capital reserve (9% of rent) | −$670 |
| Property management | −$630 |
| Net operating income | $3,027 |
| Mortgage (principal + interest) | −$4,316 |
| Cash flow | −$1,289 |
| Principal paid down (equity, not cash) | $549 |
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
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $353,284
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $787,500 of loan.
$248,968 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $865,894
- Monthly shortfalls, invested
- $940,253
$113,750 put into an index fund instead of the down payment and closing costs.
$168,170 you'd have paid in while the building lost money, invested instead.
The building comes out $543,560 ahead after 30 years.
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $72,569
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $787,500 of loan.
$61,679 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $865,894
- Monthly shortfalls, invested
- $1,639,922
$113,750 put into an index fund instead of the down payment and closing costs.
$340,705 you'd have paid in while the building lost money, invested instead.
Stocks come out $436,824 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $373,324
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $778,500 of loan.
$260,465 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $855,998
- Monthly shortfalls, invested
- $890,681
$112,450 put into an index fund instead of the down payment and closing costs.
$157,841 you'd have paid in while the building lost money, invested instead.
The building comes out $600,252 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $81,021
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $778,500 of loan.
$68,056 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $855,998
- Monthly shortfalls, invested
- $1,578,761
$112,450 put into an index fund instead of the down payment and closing costs.
$325,256 you'd have paid in while the building lost money, invested instead.
Stocks come out $380,132 ahead after 30 years.
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $596,914
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $700,000 of loan.
$376,173 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,531,966
- Monthly shortfalls, invested
- $371,722
$201,250 put into an index fund instead of the down payment and closing costs.
$62,179 you'd have paid in while the building lost money, invested instead.
The building comes out $689,649 ahead after 30 years.
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $179,537
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $700,000 of loan.
$136,464 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,531,966
- Monthly shortfalls, invested
- $934,730
$201,250 put into an index fund instead of the down payment and closing costs.
$182,295 you'd have paid in while the building lost money, invested instead.
Stocks come out $290,735 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $625,485
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $692,000 of loan.
$389,563 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,514,458
- Monthly shortfalls, invested
- $339,962
$198,950 put into an index fund instead of the down payment and closing costs.
$56,409 you'd have paid in while the building lost money, invested instead.
The building comes out $744,672 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $192,401
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $692,000 of loan.
$144,767 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,514,458
- Monthly shortfalls, invested
- $887,262
$198,950 put into an index fund instead of the down payment and closing costs.
$171,437 you'd have paid in while the building lost money, invested instead.
Stocks come out $235,712 ahead after 30 years.
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $764,299
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $656,250 of loan.
$452,061 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,865,002
- Monthly shortfalls, invested
- $209,172
$245,000 put into an index fund instead of the down payment and closing costs.
$33,282 you'd have paid in while the building lost money, invested instead.
The building comes out $686,549 ahead after 30 years.
- Your equity when you sell
- $1,996,424
- Rental profits, invested at 7%
- $260,141
Sells for $2,123,855 (value up 3% a year), minus 6% selling cost ($127,431). Rent paid down $656,250 of loan.
$186,030 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,865,002
- Monthly shortfalls, invested
- $685,397
$245,000 put into an index fund instead of the down payment and closing costs.
$127,076 you'd have paid in while the building lost money, invested instead.
Stocks come out $293,835 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $796,295
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $648,750 of loan.
$465,832 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,843,688
- Monthly shortfalls, invested
- $184,607
$242,200 put into an index fund instead of the down payment and closing costs.
$29,091 you'd have paid in while the building lost money, invested instead.
The building comes out $741,608 ahead after 30 years.
- Your equity when you sell
- $1,973,607
- Rental profits, invested at 7%
- $276,832
Sells for $2,099,582 (value up 3% a year), minus 6% selling cost ($125,975). Rent paid down $648,750 of loan.
$195,608 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,843,688
- Monthly shortfalls, invested
- $645,528
$242,200 put into an index fund instead of the down payment and closing costs.
$118,691 you'd have paid in while the building lost money, invested instead.
Stocks come out $238,777 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
Year 30 (loan paid off): property $2.35M, stocks $1.81M. The property wins.
Year 30 (loan paid off): property $2.07M, stocks $2.51M. Stocks win.
Year 30 (loan paid off): property $2.35M, stocks $1.75M. The property wins.
Year 30 (loan paid off): property $2.05M, stocks $2.43M. Stocks win.
Year 30 (loan paid off): property $2.59M, stocks $1.90M. The property wins.
Year 30 (loan paid off): property $2.18M, stocks $2.47M. Stocks win.
Year 30 (loan paid off): property $2.60M, stocks $1.85M. The property wins.
Year 30 (loan paid off): property $2.17M, stocks $2.40M. Stocks win.
Year 30 (loan paid off): property $2.76M, stocks $2.07M. The property wins.
Year 30 (loan paid off): property $2.26M, stocks $2.55M. Stocks win.
Year 30 (loan paid off): property $2.77M, stocks $2.03M. The property wins.
Year 30 (loan paid off): property $2.25M, stocks $2.49M. Stocks win.
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.
3 bed / 1 bath estimate $1,550/mo · range $1,325–$1,775
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2701 Delaware St SE, Minneapolis 55414 | $1,700 | 3 / 1 | 1.0 mi | 93% |
| 2709 Bloomington Ave S, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.3 mi | 92% |
| 2709 Bloomington Ave S, Unit 2, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.3 mi | 92% |
| 2636 14th Ave S, Apt 2, Minneapolis 55407 off market | $1,650 | 3 / 1 | 1.4 mi | 92% |
| 811 28th Ave S, Minneapolis 55454 | $1,400 | 2 / 1 | 0.5 mi | 84% |
| 1311-1313 Franklin Ave SE, Minneapolis 55414 off market | $1,350 | 2 / 1 | 0.5 mi | 84% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 0.7 mi | 84% |
| 90 Malcolm Ave SE, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.9 mi | 83% |
| 2214 Sharon Ave SE, Apt 2, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.9 mi | 83% |
| 119 Bedford St SE, Minneapolis 55414 off market | $1,550 | 2 / 1 | 1.0 mi | 83% |
2 bed / 1 bath estimate $1,450/mo · range $1,325–$1,600
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 811 28th Ave S, Minneapolis 55454 | $1,400 | 2 / 1 | 0.5 mi | 93% |
| 1311-1313 Franklin Ave SE, Minneapolis 55414 off market | $1,350 | 2 / 1 | 0.5 mi | 93% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 0.7 mi | 93% |
| 90 Malcolm Ave SE, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.9 mi | 93% |
| 2214 Sharon Ave SE, Apt 2, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.9 mi | 93% |
| 119 Bedford St SE, Minneapolis 55414 off market | $1,550 | 2 / 1 | 1.0 mi | 92% |
| 77 Bedford St SE, # 4, Minneapolis 55414 off market | $1,550 | 2 / 1 | 1.0 mi | 92% |
| 67 Bedford St SE, Apt 3, Minneapolis 55414 off market | $1,600 | 2 / 1 | 1.1 mi | 92% |
| 69 Bedford St SE, Apt 2, Minneapolis 55414 off market | $1,600 | 2 / 1 | 1.1 mi | 92% |
| 75 Bedford St SE, Apt 1, Minneapolis 55414 off market | $1,500 | 2 / 1 | 1.1 mi | 92% |
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
- highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 3101 24TH ST E, units=4
- highUnit count conflict: description and license say 4, county and our analysis count 5. A fifth unit may be unlicensed or not legal. Based on: data: city.rental_license · AI review
- highAsk is far above the county value and the 2021 sale price, and about $188K over our break-even price. Based on: data: underwriting.break_even_price · AI review
- highNegative cash flow of about $1,000/month at the asking price. Based on: data: underwriting.cash_flow_monthly · AI review
- mediumHeat is a hot-water boiler system. Claim that each unit controls its own heat needs checking, and the owner may pay the gas bill. Listing says: Each unit has access to control their own heat! It's how the boiler system was set up. · AI review
- mediumNo rents are stated, so income is unverified. Listing says: Tenants are on year long leases and have renewed. · AI review
- lowClose to I-94, which can affect noise and appeal. Based on: data: highway.distance_m · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 101 days on market, 1 price cuts
- 101 days on market gives room to negotiate well below ask. Based on: data: listing.days_on_market · AI review
- Plenty of off-street parking is a strong draw for tenants. Listing says: Tons of parking in the back that can fit at least 8 cars. · AI review
- Laundry on site gives a small extra income stream. Listing says: Coin-op washer, and free newer dryer to replace previous coin-op. · AI review
- No rent cap in Minneapolis, so rents can rise to market as leases turn. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Is this 4 units or 5? Is the fifth unit legal and licensed, and what is it?
- Can I see the rent roll, leases and trailing 12 months of expenses?
- Who pays for heat? Are there separate meters or zone valves for each unit, and is it one boiler or several?
- How old is the boiler, roof, and the electrical panels and wiring?
- Why has it sat 101 days, and has the price been cut?
- What does the coin-op laundry earn per month, and what is in the basement storage units?
Bottom line
Big 3-bedroom units with parking, but the ask is far above value and the unit count doesn't match the license, so don't offer until the rents and legal count are proven. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $12,060 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $6,178 |
| 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 1905: +1 pt capital reserve; 12 bedrooms: +1 pt repairs for wear | 9% / 9% |
Price history Realtor.com
On the market since 2026-06-26 (101 days); down $20,000 (2.2%) from the first ask of $895,000; last sold for $700,000 on 2021-10-11; listed for rent at $1,670/mo on 2025-03-24.
| Date | Event | Price |
|---|---|---|
| Price changed | $875,000 | |
| Removed | $940,000 | |
| Listed | $895,000 | |
| Rental removed | $1,670/mo | |
| Rent changed | $1,670/mo | |
| Listed for rent | $1,675/mo | |
| Sold public record | $700,000 | |
| Sold public record | $160,000 | |
| Sold public record | $160,000 | |
| Sold public record | $183,000 |
County record Public record
| Recorded as | apartment 4 or 5 unit |
| Living units | 5 |
| Year built | 1905 |
| Market value (2026) | $635,000 |
| Property tax | $12,060 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2021-09-01 · $700,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 94, about 664 m away.
Crime in Seward
518 incidents in the last 12 months (69 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).