3113 Harriet Ave
Duplex · 2 units: 4 bed / 1 bath and 3 bed / 1 bath unit split estimated · 2,137 sq ft
Minneapolis, MN · Lyndale · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $399,000 2 units · $200K per unit
- Monthly cash flow
- $284 at 20% down, 7%
- Estimated rent
- $4,375/mo medium confidence
- Break-even price
- $452,278 where cash flow hits $0
First look
This is a Lyn-Lake up/down duplex asking $399K, and at that price our underwriting shows about +$284/mo with a 7.2% cap rate. Break-even price is roughly $452K, so the ask is about $53K below break-even. The seller paid $385K in 2020, so there is little room to treat this as a bargain. The listing gives no rents, no lease status and no expense figures, so ask for the rent roll and who pays heat on the hot-water system. Our estimates are about $2,425 for the lower 4-bed and $1,950 for the upper 3-bed, and those only help if the unit setup holds up. The 'bonus room' bedroom is the big question: confirm egress and what the rental license covers. Worth a showing at the current price if the rents and bedroom count check out.
Things to consider
- Price is below what the numbers support At ask, cash flow is about +$284/mo and the cap rate is 7.2%. Break-even is near $452K.
- No rents or lease details given Without a rent roll you can't verify income. Our estimates are $2,425 and $1,950.
- Bedroom count is unclear in the lower unit A porch conversion bonus room may not count as a legal bedroom, which affects rent and licensing.Listing says: “lower unit had a renovation to finish the front porch into an insulated finished bedroom/room”
- Recent mechanical updates reduce near-term capex Newer boilers and water heaters lower the risk of big early expenses, but confirm ages and invoices.Listing says: “Newer; boilers, water heaters, two car garage”
- Old stucco building 1894 construction with stucco means checking for moisture, foundation and window air conditioner use, with no central air visible.From photo 7
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
- doneNewer boilers and water heatersListing says: Newer; boilers, water heaters, two car garage
- doneLower unit front porch converted to insulated finished bedroom/roomListing says: lower unit had a renovation to finish the front porch into an insulated finished bedroom/room
- doneNew two-car garage with opener and upgraded electric serviceListing says: the garage is newer two car garage with opener as well as upgraded electric service
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
- $399,000
- Cash to close
- $51,870
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- −$206/mo
- Cash-on-cash
- −4.8%
- Cap rate
- 7.2%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $367,501
- Rent that breaks even
- $4,643/mo
Long run
- Year 30: property vs stocks
- $1.82M vs $429K
- Cash flow turns positive
- year 4
The deal
- Price
- $399,000
- Cash to close
- $51,870
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- −$576/mo
- Cash-on-cash
- −13.3%
- Cap rate
- 6.1%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $310,995
- Rent that breaks even
- $5,216/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $559K
- Cash flow turns positive
- year 7
The deal
- Price
- $389,000
- Cash to close
- $50,570
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- −$141/mo
- Cash-on-cash
- −3.3%
- Cap rate
- 7.4%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $367,501
- Rent that breaks even
- $4,558/mo
Long run
- Year 30: property vs stocks
- $1.85M vs $403K
- Cash flow turns positive
- year 4
The deal
- Price
- $389,000
- Cash to close
- $50,570
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- −$511/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 6.3%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $310,995
- Rent that breaks even
- $5,120/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $522K
- Cash flow turns positive
- year 6
The deal
- Price
- $399,000
- Cash to close
- $91,770
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- $284/mo
- Cash-on-cash
- 3.7%
- Cap rate
- 7.2%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $452,278
- Rent that breaks even
- $4,007/mo
Long run
- Year 30: property vs stocks
- $2.16M vs $699K
- Cash flow turns positive
- year 1
The deal
- Price
- $399,000
- Cash to close
- $91,770
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- −$87/mo
- Cash-on-cash
- −1.1%
- Cap rate
- 6.1%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $382,737
- Rent that breaks even
- $4,501/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $708K
- Cash flow turns positive
- year 3
The deal
- Price
- $389,000
- Cash to close
- $89,470
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- $337/mo
- Cash-on-cash
- 4.5%
- Cap rate
- 7.4%
- DSCR
- 1.16×
Break-even
- Price that breaks even
- $452,278
- Rent that breaks even
- $3,938/mo
Long run
- Year 30: property vs stocks
- $2.20M vs $681K
- Cash flow turns positive
- year 1
The deal
- Price
- $389,000
- Cash to close
- $89,470
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- −$33/mo
- Cash-on-cash
- −0.4%
- Cap rate
- 6.3%
- DSCR
- 0.98×
Break-even
- Price that breaks even
- $382,737
- Rent that breaks even
- $4,424/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $684K
- Cash flow turns positive
- year 2
The deal
- Price
- $399,000
- Cash to close
- $111,720
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- $416/mo
- Cash-on-cash
- 4.5%
- Cap rate
- 7.2%
- DSCR
- 1.21×
Break-even
- Price that breaks even
- $482,430
- Rent that breaks even
- $3,834/mo
Long run
- Year 30: property vs stocks
- $2.31M vs $850K
- Cash flow turns positive
- year 1
The deal
- Price
- $399,000
- Cash to close
- $111,720
- Price per unit
- $199,500
- GRM
- 7.6
Each month
- Cash flow
- $46/mo
- Cash-on-cash
- 0.5%
- Cap rate
- 6.1%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $408,253
- Rent that breaks even
- $4,308/mo
Long run
- Year 30: property vs stocks
- $1.73M vs $850K
- Cash flow turns positive
- year 1
The deal
- Price
- $389,000
- Cash to close
- $108,920
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- $466/mo
- Cash-on-cash
- 5.1%
- Cap rate
- 7.4%
- DSCR
- 1.24×
Break-even
- Price that breaks even
- $482,430
- Rent that breaks even
- $3,770/mo
Long run
- Year 30: property vs stocks
- $2.34M vs $829K
- Cash flow turns positive
- year 1
The deal
- Price
- $389,000
- Cash to close
- $108,920
- Price per unit
- $194,500
- GRM
- 7.4
Each month
- Cash flow
- $96/mo
- Cash-on-cash
- 1.1%
- Cap rate
- 6.3%
- DSCR
- 1.05×
Break-even
- Price that breaks even
- $408,253
- Rent that breaks even
- $4,235/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $829K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$2,389 |
| PMI | −$224 |
| Cash flow | −$206 |
| Principal paid down (equity, not cash) | $304 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$2,389 |
| PMI | −$224 |
| Cash flow | −$576 |
| Principal paid down (equity, not cash) | $304 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$2,329 |
| PMI | −$219 |
| Cash flow | −$141 |
| Principal paid down (equity, not cash) | $296 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$2,329 |
| PMI | −$219 |
| Cash flow | −$511 |
| Principal paid down (equity, not cash) | $296 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$2,124 |
| Cash flow | $284 |
| Principal paid down (equity, not cash) | $270 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$2,124 |
| Cash flow | −$87 |
| Principal paid down (equity, not cash) | $270 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$2,070 |
| Cash flow | $337 |
| Principal paid down (equity, not cash) | $263 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$2,070 |
| Cash flow | −$33 |
| Principal paid down (equity, not cash) | $263 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$1,991 |
| Cash flow | $416 |
| Principal paid down (equity, not cash) | $253 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$1,991 |
| Cash flow | $46 |
| Principal paid down (equity, not cash) | $253 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $2,407 |
| Mortgage (principal + interest) | −$1,941 |
| Cash flow | $466 |
| Principal paid down (equity, not cash) | $247 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$518 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $2,037 |
| Mortgage (principal + interest) | −$1,941 |
| Cash flow | $96 |
| Principal paid down (equity, not cash) | $247 |
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
- $910,369
- Rental profits, invested at 7%
- $912,198
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $359,100 of loan.
$461,720 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $394,848
- Monthly shortfalls, invested
- $33,892
$51,870 put into an index fund instead of the down payment and closing costs.
$4,979 you'd have paid in while the building lost money, invested instead.
The building comes out $1,393,827 ahead after 30 years.
- Your equity when you sell
- $910,369
- Rental profits, invested at 7%
- $466,837
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $359,100 of loan.
$271,045 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $394,848
- Monthly shortfalls, invested
- $164,260
$51,870 put into an index fund instead of the down payment and closing costs.
$25,611 you'd have paid in while the building lost money, invested instead.
The building comes out $818,099 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $966,108
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $350,100 of loan.
$481,187 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $384,952
- Monthly shortfalls, invested
- $18,190
$50,570 put into an index fund instead of the down payment and closing costs.
$2,621 you'd have paid in while the building lost money, invested instead.
The building comes out $1,450,520 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $508,943
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $350,100 of loan.
$288,350 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $384,952
- Monthly shortfalls, invested
- $136,753
$50,570 put into an index fund instead of the down payment and closing costs.
$21,090 you'd have paid in while the building lost money, invested instead.
The building comes out $874,792 ahead after 30 years.
- Your equity when you sell
- $910,369
- Rental profits, invested at 7%
- $1,248,651
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $319,200 of loan.
$563,078 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $698,577
$91,770 put into an index fund instead of the down payment and closing costs.
The building comes out $1,460,443 ahead after 30 years.
- Your equity when you sell
- $910,369
- Rental profits, invested at 7%
- $682,726
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $319,200 of loan.
$353,173 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $698,577
- Monthly shortfalls, invested
- $9,803
$91,770 put into an index fund instead of the down payment and closing costs.
$1,402 you'd have paid in while the building lost money, invested instead.
The building comes out $884,715 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $1,308,982
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $311,200 of loan.
$582,239 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $681,068
$89,470 put into an index fund instead of the down payment and closing costs.
The building comes out $1,515,467 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $736,100
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $311,200 of loan.
$371,332 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $681,068
- Monthly shortfalls, invested
- $2,846
$89,470 put into an index fund instead of the down payment and closing costs.
$400 you'd have paid in while the building lost money, invested instead.
The building comes out $939,738 ahead after 30 years.
- Your equity when you sell
- $910,369
- Rental profits, invested at 7%
- $1,399,102
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $299,250 of loan.
$610,860 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $850,441
$111,720 put into an index fund instead of the down payment and closing costs.
The building comes out $1,459,030 ahead after 30 years.
- Your equity when you sell
- $910,369
- Rental profits, invested at 7%
- $823,374
Sells for $968,478 (value up 3% a year), minus 6% selling cost ($58,109). Rent paid down $299,250 of loan.
$399,554 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $850,441
$111,720 put into an index fund instead of the down payment and closing costs.
The building comes out $883,302 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $1,455,663
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $291,750 of loan.
$628,823 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $829,127
$108,920 put into an index fund instead of the down payment and closing costs.
The building comes out $1,514,088 ahead after 30 years.
- Your equity when you sell
- $887,553
- Rental profits, invested at 7%
- $879,934
Sells for $944,205 (value up 3% a year), minus 6% selling cost ($56,652). Rent paid down $291,750 of loan.
$417,517 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $829,127
$108,920 put into an index fund instead of the down payment and closing costs.
The building comes out $938,360 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 $1.82M, stocks $429K. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $559K. The property wins.
Year 30 (loan paid off): property $1.85M, stocks $403K. The property wins.
Year 30 (loan paid off): property $1.40M, stocks $522K. The property wins.
Year 30 (loan paid off): property $2.16M, stocks $699K. The property wins.
Year 30 (loan paid off): property $1.59M, stocks $708K. The property wins.
Year 30 (loan paid off): property $2.20M, stocks $681K. The property wins.
Year 30 (loan paid off): property $1.62M, stocks $684K. The property wins.
Year 30 (loan paid off): property $2.31M, stocks $850K. The property wins.
Year 30 (loan paid off): property $1.73M, stocks $850K. The property wins.
Year 30 (loan paid off): property $2.34M, stocks $829K. The property wins.
Year 30 (loan paid off): property $1.77M, stocks $829K. 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 / 1 bath estimate $2,425/mo · range $1,850–$3,000
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3145 Pleasant Ave S, Minneapolis 55408 off market | $2,250 | 4 / 1 | 0.1 mi | 94% |
| 3310 Lyndale Ave S, Unit 3, Minneapolis 55408 off market | $3,200 | 4 / 2 | 0.3 mi | 93% |
| 3136 Lyndale Ave S, Minneapolis 55408 off market | $1,995 | 3 / 1 | 0.2 mi | 90% |
| 3212 Lyndale Ave S, Minneapolis 55408 off market | $2,400 | 4 / 2 | 0.2 mi | 89% |
| 3040 Colfax Ave S, Minneapolis 55408 off market | $2,200 | 3 / 1 | 0.4 mi | 85% |
| 3317 Bryant Ave S, Apt 1, Minneapolis 55408 off market | $2,795 | 4 / 3 | 0.4 mi | 85% |
| 911 W 31st St, Unit 2, Minneapolis 55408 off market | $3,495 | 5 / 2 | 0.3 mi | 85% |
| 3207-09 Lyndale Ave S, Minneapolis 55408 off market | $1,650 | 3 / 1 | 0.2 mi | 84% |
| 2924 Grand Ave S, Apt 2, Minneapolis 55408 off market | $1,720 | 3 / 1 | 0.2 mi | 83% |
| 717 W 28th St, Minneapolis 55408 off market | $1,795 | 3 / 1 | 0.4 mi | 82% |
3 bed / 1 bath estimate $1,950/mo · range $1,700–$2,175
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3136 Lyndale Ave S, Minneapolis 55408 off market | $1,995 | 3 / 1 | 0.2 mi | 99% |
| 3040 Colfax Ave S, Minneapolis 55408 off market | $2,200 | 3 / 1 | 0.4 mi | 95% |
| 3207-09 Lyndale Ave S, Minneapolis 55408 off market | $1,650 | 3 / 1 | 0.2 mi | 94% |
| 2924 Grand Ave S, Apt 2, Minneapolis 55408 off market | $1,720 | 3 / 1 | 0.2 mi | 92% |
| 717 W 28th St, Minneapolis 55408 off market | $1,795 | 3 / 1 | 0.4 mi | 91% |
| 2957 Lyndale Ave S, Unit 614-1, Minneapolis 55408 off market | $2,300 | 3 / 1 | 0.2 mi | 91% |
| 3012 Bryant Ave S, Minneapolis 55408 off market | $1,569 | 3 / 1 | 0.3 mi | 90% |
| 3208 Blaisdell Ave, Apt 3, Minneapolis 55408 | $1,750 | 3 / 1 | 0.3 mi | 89% |
| 711 W 28th St, Minneapolis 55408 | $1,595 | 3 / 1 | 0.4 mi | 87% |
| 116 W 34th St, Unit 2, Minneapolis 55408 off market | $1,595 | 3 / 1 | 0.4 mi | 86% |
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
- mediumConverted porch bedroom may lack permits or legal egress; lower unit bed count is unclear (3 bed plus bonus room) Listing says: Three-bedroom one bath on the lower level with bonus room/bedroom. · AI review
- mediumBuilt 1894 with stucco exterior; check for moisture behind the stucco and the foundation condition Based on: data: listing.year_built · AI review
- mediumAsking price is above the county value and is not supported by our rent estimates Based on: data: county.market_value · AI review
Opportunities
- Owner-occupy one unit and rent the other, or buy as an investment; no rent cap in Minneapolis allows rent growth after turnover Listing says: Excellent owner occupy opportunity and/or investment property. · AI review
- Garage has upgraded electric service that could support a heater or extra use Listing says: upgraded electric service for potential heater · AI review
- Active Tier 1 rental license for two units is already in place Based on: data: city.rental_license · AI review
Questions for the agent
- What are the current rents, lease end dates and security deposits for each unit?
- Who pays heat and water, and what were the last 12 months of utility bills?
- Was the porch conversion permitted, and does the bonus room have egress and a closet?
- How old are the boilers, roof and electrical panels, and are there separate meters?
- Why is the price above the 2020 sale price of $385K, and will the seller negotiate?
- Is the rental license transferable, and are there any open city inspection orders?
Bottom line
Pleasant, updated Lyn-Lake duplex that at $399K makes about $284 a month, provided the rents and bedroom count hold up. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $6,211 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,568 |
| 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 1894: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-09-30 (5 days); last sold for $385,000 on 2020-09-23; listed for rent at $1,795/mo on 2022-06-27.
| Date | Event | Price |
|---|---|---|
| Listed | $399,000 | |
| Removed | $414,000 | |
| Removed | — | |
| Removed | — | |
| Listed for rent | $1,795/mo | |
| Removed | — | |
| Removed | — | |
| Listed | $449,000 | |
| Listed for rent | $1,550/mo | |
| Removed | — | |
| Listed for rent | $1,550/mo | |
| Removed | — | |
| Listed for rent | $1,425/mo | |
| Removed | — | |
| Listed for rent | $1,795/mo | |
| Sold | $385,000 | |
| Listed | $385,000 | |
| Sold public record | $271,000 | |
| Sold | $269,900 | |
| Listed | $269,900 | |
| Removed | $275,000 | |
| Price changed | $275,000 | |
| Listed | $279,900 | |
| Removed | $284,900 | |
| Price changed | $284,900 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1894 |
| Market value (2026) | $328,300 |
| Property tax | $6,211 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2020-09-01 · $385,000 |
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 796 m away.
Crime in Lyndale
473 incidents in the last 12 months (66 per 1,000 residents), −2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).