Minneapolis › Central

3129 Clinton Ave

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 3,058 sq ft

Minneapolis, MN · Central · View the listing ↗

Overpriced

30 photos

Photos, via Realtor.com.

Asking price: $385,000
Monthly cash flow: −$522
Estimated rent: $3,150/mo
Break-even price: $286,853

Adjust the numbers See the full breakdown

From the listing

Welcome to 3129 Clinton- a beautifully renovated, move-in-ready duplex offering the perfect opportunity to house hack or expand your investment portfolio! Both spacious units feature 2 bedrooms and 1 bathroom, along with updated kitchens, bathrooms, cabinetry, appliances, windows, and more. Each unit has separate utilities and its own furnace (both replaced in 2020) as well as a brand-new washer and dryer set for each unit, located in the clean, dry basement, which also offers plenty of storage. Enjoy peace of mind with a brand-new roof and siding, a clean TISH report with a COA, and an impressive energy disclosure report. Outside, you'll find a fully fenced backyard and a large rear parking pad. The lower unit is leased to wonderful long-term tenants, while the upper unit is leased to an excellent tenant, who is now month-to-month - providing flexibility for buyers looking to owner-occupy or add a turnkey property to their investment portfolio. Come check it out- you won't be disappointed! :)

Description from Realtor.com, MLS #7120900. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a renovated 2-bed/2-bed duplex asking $385K, and the numbers don't work. Our rent estimate is about $1,575 per unit, and at asking we model roughly -$522/month cash flow and a 4.8% cap rate. Break-even is near $287K, so the price is well above what the rents support. The seller paid $330K in 2020 and the county values it at $313,800. The listing gives no rents, so ask for the rent roll and leases first. Also check the tax bill: the $5,960 is non-homestead, so confirm whether it will change. Only worth a showing if the price drops a lot or you plan to live in one unit.

Things to consider

Price is far above the income At asking, cash flow is negative and the cap rate is thin. Rents would need to be much higher, or the price much lower, for this to work.
Rents and lease terms are unknown Without a rent roll you can't check income. Month-to-month means the upper unit could turn over soon.Listing says: “the upper unit is leased to an excellent tenant, who is now month-to-month”
Recent updates lower near-term capex New roof, siding and 2020 furnaces reduce big-ticket risk, but confirm permits and ages.Listing says: “brand-new roof and siding”
Non-homestead taxes and no assessments The listed tax is already non-homestead at $5,960, and there are no special assessments. Check for reassessment after sale.
Separate utilities simplify operations Tenants carry their own utilities, which lowers owner costs and keeps the numbers predictable.Listing says: “Each unit has separate utilities and its own furnace”

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

doneBoth furnaces replaced in 2020Listing says: its own furnace (both replaced in 2020)
doneNew roof and sidingListing says: brand-new roof and siding
doneUpdated kitchens, bathrooms, cabinetry, appliances and windowsListing says: updated kitchens, bathrooms, cabinetry, appliances, windows, and more
doneNew washer and dryer in each unitListing says: brand-new washer and dryer set for each unit

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: $385,000
Cash to close: $88,550
Price per unit: $192,500
GRM: 10.2

Each month

Cash flow: −$522/mo
Cash-on-cash: −7.1%
Cap rate: 4.8%
DSCR: 0.75×

Break-even

Price that breaks even: $286,853
Rent that breaks even: $3,811/mo

Long run

Year 30: property vs stocks: $1.07M vs $901K
Cash flow turns positive: year 13

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Public record	−$497
Insurance Estimate	−$235
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (7% of rent)	−$221
Capital reserve (8% of rent)	−$252
Net operating income	$1,527
Mortgage (principal + interest)	−$2,049
Cash flow	−$522
Principal paid down (equity, not cash)	$261

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$1,069,362

Your equity when you sell: $878,426
Rental profits, invested at 7%: $190,936

Same money in stocks$901,456

Cash to close, invested at 7%: $674,065
Monthly shortfalls, invested: $227,390

The building comes out $167,906 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 $1.07M, stocks $901K. 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 $1,575/mo · range $1,450–$1,775 · 13 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3123 2nd Ave S Unit 1, Minneapolis	$1,490	2 / 1	1,123	0.1 mi	2026-07-30	Apartment
3212 1st Ave S, Minneapolis	$1,800	2 / 1	900	0.3 mi	2026-09-08	Duplex triplex
3429 2nd Ave S Fl 1, Minneapolis	$1,400	2 / 1	850	0.4 mi	—	Apartment
3329 Nicollet Ave Unit 300, Minneapolis	$1,675	2 / 1	700	0.4 mi	—	Apartment
3503 2nd Ave S, Minneapolis	$1,639	2 / 1	686	0.5 mi	2025-08-04	Apartment
2835 Park Ave, Minneapolis	$1,340	2 / 1	—	0.5 mi	2026-07-17	Apartment
3515 2nd Ave S Unit 303, Minneapolis	$1,695	2 / 1	750	0.5 mi	2026-09-07	Apartment
2723 Portland Ave S, Minneapolis	$1,589	2 / 1	—	0.5 mi	2026-07-17	Apartment
2625 3rd Ave S, Minneapolis	$1,399	2 / 1	1,000	0.6 mi	2026-02-10	Apartment
3549 Columbus Ave S, Minneapolis	$1,250	2 / 1	800	0.7 mi	—	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

highUpper tenant is month-to-month and no rents are disclosed, so income is unverified. Listing says: the upper unit is leased to an excellent tenant, who is now month-to-month · AI review
mediumSits 59 days on market at a price well above its 2020 sale price and county value. Based on: data: listing.days_on_market · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "leased to an excellent tenant, who is now month-to-month - providing flexibility for buyers looking to owner-occupy"
lowNear I-35W, about 270 m away, which may mean noise and affect tenant appeal. Based on: data: highway.distance_m · AI review

Opportunities

Owner-occupy one unit and rent the other to offset the cost (house hack). Listing says: the perfect opportunity to house hack or expand your investment portfolio · AI review
Minneapolis has no rent cap, so rents can rise with the market after turnover. Based on: data: underwriting.rent_rule · AI review
Separate utilities and furnaces keep owner operating costs low. Listing says: Each unit has separate utilities and its own furnace · AI review

Questions for the agent

What are the current rents and lease end dates for each unit? Can I see the leases and the rent roll?
Why is the upper tenant month-to-month, and are they planning to stay?
What are the trailing-12 expenses, including insurance and water?
Can I see the TISH report, COA and energy disclosure?
What is the age of the roof and siding, and were permits pulled?
Why was the price set at $385K when it sold for $330K in 2020?

Bottom line

Nicely updated duplex, but $385K is about $98K above what the rents support, so it only works as a house hack or at a big discount. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$5,960
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,821
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 1897: +1 pt capital reserve; "fully renovated" in the description: -1 pts each	7% / 8%

Price history Realtor.com

On the market since 2026-08-04 (62 days); down $40,000 (9.4%) from the first ask of $425,000; last sold for $330,000 on 2020-04-10.

Date	Event	Price
2026-09-30	Price changed	$385,000
2026-09-11	Price changed	$395,000
2026-09-02	Price changed	$405,000
2026-08-21	Price changed	$415,000
2026-08-04	Listed	$425,000
2020-04-10	Sold	$330,000
2020-03-02	Listed	$325,000
2019-05-01	Sold public record	$850,000
1985-06-01	Sold public record	$68,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1897
Market value (2026)	$313,800
Property tax	$5,960
Special assessments	none
Homestead	no
Last sale	2020-04-01 · $330,000

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 272 m away.

Crime in Central

411 incidents in the last 12 months (50 per 1,000 residents), −9% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).