3213 Minnehaha Ave
Duplex · 2 units: 4 bed / 1.5 bath and 3 bed / 1.5 bath unit split estimated · 3,370 sq ft
Minneapolis, MN · Longfellow · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $459,900 2 units · $230K per unit
- Monthly cash flow
- −$372 at 20% down, 7%
- Estimated rent
- $4,100/mo medium confidence
- Break-even price
- $389,987 where cash flow hits $0
First look
This is a big 1905 duplex in Minneapolis priced at $459,900, and it doesn't pencil. Our underwriting shows about -$372 a month at asking, a 5.4% cap rate, and break-even near $389,987. The seller paid $450,000 in 2021 and county market value is $384,900, so the ask is above both. The description is thin: no rents, no lease status, no utilities, and it mentions '9 bedrooms' while the listing data says 7. Photos show lived-in, occupied units, so get the rent roll and leases first. Don't spend a showing until the price drops or the rents are verified well above our estimate.
Things to consider
- Price is far above what the rents support At asking, cash flow is about -$372 a month and the cap rate is 5.4%. You would be paying to own it unless the price falls sharply.
- Rents and leases are unknown The description gives no rent, lease or occupancy information, so income can't be verified. Our estimates are $2,200 and $1,900.
- Bedroom count is unclear Rent depends on legal bedrooms. If 9 is inflated, the rent estimates could be too high.Listing says: “With 9 bedrooms, newer windows, fresh paint, and a new roof, it's move-in ready.”
- Rental licensing is unverified There is no rental license on file, so you could face inspection items or a delay in licensing. Ask for the inspection history.
- Recent updates reduce near-term capital needs A new roof and newer windows lower the biggest repair risks, but ask for permits and receipts.Listing says: “brand new roof”
- Property taxes are high at the non-homestead rate Tax of about $7,309 as a non-homestead property is a major expense that weighs on cash flow.
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
- doneNew roofListing says: brand new roof
- doneNewer windowsListing says: newer windows, fresh paint, and a new roof
- doneFresh paintListing says: newer windows, fresh paint, and a new roof
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
- $459,900
- Cash to close
- $59,787
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$937/mo
- Cash-on-cash
- −18.8%
- Cap rate
- 5.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $316,886
- Rent that breaks even
- $5,317/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $818K
- Cash flow turns positive
- year 12
The deal
- Price
- $459,900
- Cash to close
- $59,787
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$1,284/mo
- Cash-on-cash
- −25.8%
- Cap rate
- 4.5%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $263,932
- Rent that breaks even
- $5,973/mo
Long run
- Year 30: property vs stocks
- $1.13M vs $1.15M
- Cash flow turns positive
- year 19
The deal
- Price
- $449,900
- Cash to close
- $58,487
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$871/mo
- Cash-on-cash
- −17.9%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $316,886
- Rent that breaks even
- $5,232/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $766K
- Cash flow turns positive
- year 11
The deal
- Price
- $449,900
- Cash to close
- $58,487
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$1,218/mo
- Cash-on-cash
- −25.0%
- Cap rate
- 4.6%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $263,932
- Rent that breaks even
- $5,877/mo
Long run
- Year 30: property vs stocks
- $1.12M vs $1.09M
- Cash flow turns positive
- year 18
The deal
- Price
- $459,900
- Cash to close
- $105,777
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$372/mo
- Cash-on-cash
- −4.2%
- Cap rate
- 5.4%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $389,987
- Rent that breaks even
- $4,583/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $909K
- Cash flow turns positive
- year 8
The deal
- Price
- $459,900
- Cash to close
- $105,777
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$719/mo
- Cash-on-cash
- −8.2%
- Cap rate
- 4.5%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $324,817
- Rent that breaks even
- $5,149/mo
Long run
- Year 30: property vs stocks
- $1.22M vs $1.16M
- Cash flow turns positive
- year 15
The deal
- Price
- $449,900
- Cash to close
- $103,477
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$319/mo
- Cash-on-cash
- −3.7%
- Cap rate
- 5.5%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $389,987
- Rent that breaks even
- $4,514/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $868K
- Cash flow turns positive
- year 7
The deal
- Price
- $449,900
- Cash to close
- $103,477
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$666/mo
- Cash-on-cash
- −7.7%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $324,817
- Rent that breaks even
- $5,071/mo
Long run
- Year 30: property vs stocks
- $1.21M vs $1.10M
- Cash flow turns positive
- year 14
The deal
- Price
- $459,900
- Cash to close
- $128,772
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$219/mo
- Cash-on-cash
- −2.0%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $415,986
- Rent that breaks even
- $4,385/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $1.02M
- Cash flow turns positive
- year 5
The deal
- Price
- $459,900
- Cash to close
- $128,772
- Price per unit
- $229,950
- GRM
- 9.3
Each month
- Cash flow
- −$566/mo
- Cash-on-cash
- −5.3%
- Cap rate
- 4.5%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $346,471
- Rent that breaks even
- $4,926/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $1.22M
- Cash flow turns positive
- year 12
The deal
- Price
- $449,900
- Cash to close
- $125,972
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$169/mo
- Cash-on-cash
- −1.6%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $415,986
- Rent that breaks even
- $4,320/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $986K
- Cash flow turns positive
- year 4
The deal
- Price
- $449,900
- Cash to close
- $125,972
- Price per unit
- $224,950
- GRM
- 9.1
Each month
- Cash flow
- −$516/mo
- Cash-on-cash
- −4.9%
- Cap rate
- 4.6%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $346,471
- Rent that breaks even
- $4,853/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $1.16M
- Cash flow turns positive
- year 11
Monthly
Monthly breakdown
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,754 |
| PMI | −$259 |
| Cash flow | −$937 |
| Principal paid down (equity, not cash) | $350 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,754 |
| PMI | −$259 |
| Cash flow | −$1,284 |
| Principal paid down (equity, not cash) | $350 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,694 |
| PMI | −$253 |
| Cash flow | −$871 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,694 |
| PMI | −$253 |
| Cash flow | −$1,218 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,448 |
| Cash flow | −$372 |
| Principal paid down (equity, not cash) | $311 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,448 |
| Cash flow | −$719 |
| Principal paid down (equity, not cash) | $311 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,395 |
| Cash flow | −$319 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,395 |
| Cash flow | −$666 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,295 |
| Cash flow | −$219 |
| Principal paid down (equity, not cash) | $292 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,295 |
| Cash flow | −$566 |
| Principal paid down (equity, not cash) | $292 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Net operating income | $2,076 |
| Mortgage (principal + interest) | −$2,245 |
| Cash flow | −$169 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$609 |
| Insurance Estimate | −$242 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$328 |
| Capital reserve (9% of rent) | −$369 |
| Property management | −$347 |
| Net operating income | $1,729 |
| Mortgage (principal + interest) | −$2,245 |
| Cash flow | −$516 |
| Principal paid down (equity, not cash) | $286 |
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
- $1,049,320
- Rental profits, invested at 7%
- $290,320
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $413,910 of loan.
$189,958 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $455,114
- Monthly shortfalls, invested
- $362,698
$59,787 put into an index fund instead of the down payment and closing costs.
$61,232 you'd have paid in while the building lost money, invested instead.
The building comes out $521,828 ahead after 30 years.
- Your equity when you sell
- $1,049,320
- Rental profits, invested at 7%
- $84,615
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $413,910 of loan.
$66,262 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $455,114
- Monthly shortfalls, invested
- $696,533
$59,787 put into an index fund instead of the down payment and closing costs.
$135,560 you'd have paid in while the building lost money, invested instead.
Stocks come out $17,712 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $318,200
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $404,910 of loan.
$203,893 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $445,218
- Monthly shortfalls, invested
- $320,965
$58,487 put into an index fund instead of the down payment and closing costs.
$53,341 you'd have paid in while the building lost money, invested instead.
The building comes out $578,521 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $97,745
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $404,910 of loan.
$75,007 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $445,218
- Monthly shortfalls, invested
- $640,050
$58,487 put into an index fund instead of the down payment and closing costs.
$122,479 you'd have paid in while the building lost money, invested instead.
The building comes out $38,981 ahead after 30 years.
- Your equity when you sell
- $1,049,320
- Rental profits, invested at 7%
- $457,925
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $367,920 of loan.
$267,568 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $805,202
- Monthly shortfalls, invested
- $103,432
$105,777 put into an index fund instead of the down payment and closing costs.
$16,274 you'd have paid in while the building lost money, invested instead.
The building comes out $598,613 ahead after 30 years.
- Your equity when you sell
- $1,049,320
- Rental profits, invested at 7%
- $168,032
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $367,920 of loan.
$117,693 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $805,202
- Monthly shortfalls, invested
- $353,078
$105,777 put into an index fund instead of the down payment and closing costs.
$64,423 you'd have paid in while the building lost money, invested instead.
The building comes out $59,073 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $494,662
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $359,920 of loan.
$282,808 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $787,693
- Monthly shortfalls, invested
- $79,837
$103,477 put into an index fund instead of the down payment and closing costs.
$12,353 you'd have paid in while the building lost money, invested instead.
The building comes out $653,636 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $187,299
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $359,920 of loan.
$128,405 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $787,693
- Monthly shortfalls, invested
- $312,014
$103,477 put into an index fund instead of the down payment and closing costs.
$55,974 you'd have paid in while the building lost money, invested instead.
The building comes out $114,096 ahead after 30 years.
- Your equity when you sell
- $1,049,320
- Rental profits, invested at 7%
- $570,369
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $344,925 of loan.
$312,719 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $980,245
- Monthly shortfalls, invested
- $42,461
$128,772 put into an index fund instead of the down payment and closing costs.
$6,350 you'd have paid in while the building lost money, invested instead.
The building comes out $596,983 ahead after 30 years.
- Your equity when you sell
- $1,049,320
- Rental profits, invested at 7%
- $227,834
Sells for $1,116,298 (value up 3% a year), minus 6% selling cost ($66,978). Rent paid down $344,925 of loan.
$149,887 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $980,245
- Monthly shortfalls, invested
- $239,466
$128,772 put into an index fund instead of the down payment and closing costs.
$41,542 you'd have paid in while the building lost money, invested instead.
The building comes out $57,443 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $611,906
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $337,425 of loan.
$328,359 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $958,931
- Monthly shortfalls, invested
- $27,437
$125,972 put into an index fund instead of the down payment and closing costs.
$4,027 you'd have paid in while the building lost money, invested instead.
The building comes out $652,042 ahead after 30 years.
- Your equity when you sell
- $1,026,503
- Rental profits, invested at 7%
- $250,493
Sells for $1,092,025 (value up 3% a year), minus 6% selling cost ($65,522). Rent paid down $337,425 of loan.
$161,340 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $958,931
- Monthly shortfalls, invested
- $205,564
$125,972 put into an index fund instead of the down payment and closing costs.
$35,032 you'd have paid in while the building lost money, invested instead.
The building comes out $112,501 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 $1.34M, stocks $818K. The property wins.
Year 30 (loan paid off): property $1.13M, stocks $1.15M. Stocks win.
Year 30 (loan paid off): property $1.34M, stocks $766K. The property wins.
Year 30 (loan paid off): property $1.12M, stocks $1.09M. The property wins.
Year 30 (loan paid off): property $1.51M, stocks $909K. The property wins.
Year 30 (loan paid off): property $1.22M, stocks $1.16M. The property wins.
Year 30 (loan paid off): property $1.52M, stocks $868K. The property wins.
Year 30 (loan paid off): property $1.21M, stocks $1.10M. The property wins.
Year 30 (loan paid off): property $1.62M, stocks $1.02M. The property wins.
Year 30 (loan paid off): property $1.28M, stocks $1.22M. The property wins.
Year 30 (loan paid off): property $1.64M, stocks $986K. The property wins.
Year 30 (loan paid off): property $1.28M, stocks $1.16M. 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 / 1.5 bath estimate $2,200/mo · range $1,825–$2,600
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2217 25th Ave S, Minneapolis 55406 off market | $2,535 | 4 / 2 | 1.1 mi | 87% |
| 2916 30th Ave S Unit D, Minneapolis 55406 off market | $2,497 | 4 / 2 | 0.4 mi | 86% |
| 3832 20th Ave S, Minneapolis 55407 off market | $1,595 | 3 / 1 | 1.0 mi | 81% |
| 2709 Bloomington Ave S, Unit 2, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.2 mi | 80% |
| 2709 Bloomington Ave S, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.2 mi | 80% |
| 2636 14th Ave S, Apt 2, Minneapolis 55407 off market | $1,650 | 3 / 1 | 1.4 mi | 80% |
| 3345 36th Ave S, Unit 1, Minneapolis 55406 | $1,600 | 3 / 1.5 | 0.6 mi | 76% |
| 3202 23rd Ave S, Unit 3200, Minneapolis 55407 off market | $1,550 | 3 / 1.5 | 0.4 mi | 75% |
| 2616 Cedar Ave S, Minneapolis 55407 off market | $2,500 | 5 / 1 | 1.1 mi | 74% |
| 3227 34th Ave S, Minneapolis 55406 off market | $2,435 | 4 / 2 | 0.4 mi | 73% |
3 bed / 1.5 bath estimate $1,900/mo · range $1,700–$2,125
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3832 20th Ave S, Minneapolis 55407 off market | $1,595 | 3 / 1 | 1.0 mi | 90% |
| 2709 Bloomington Ave S, Unit 2, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.2 mi | 90% |
| 2709 Bloomington Ave S, Minneapolis 55407 off market | $1,900 | 3 / 1 | 1.2 mi | 90% |
| 2636 14th Ave S, Apt 2, Minneapolis 55407 off market | $1,650 | 3 / 1 | 1.4 mi | 90% |
| 3345 36th Ave S, Unit 1, Minneapolis 55406 | $1,600 | 3 / 1.5 | 0.6 mi | 86% |
| 3202 23rd Ave S, Unit 3200, Minneapolis 55407 off market | $1,550 | 3 / 1.5 | 0.4 mi | 85% |
| 3255 15th Ave S, Apt 2, Minneapolis 55407 off market | $1,800 | 3 / 1 | 1.1 mi | 83% |
| 3022 3024 39th Ave S, Minneapolis 55406 off market | $1,795 | 3 / 1 | 0.7 mi | 82% |
| 3022 39th-3024-upper Ave S, Unit 3024, Minneapo… off market | $1,795 | 3 / 1 | 0.7 mi | 82% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 0.4 mi | 82% |
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
- mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 3213 MINNEHAHA AVE
- mediumBedroom count conflicts: the description says 9 bedrooms but listing data says 7. Some rooms may not be legal bedrooms. Listing says: With 9 bedrooms, newer windows, fresh paint, and a new roof, it's move-in ready. · AI review
- mediumMarketed as multigenerational living, so it may be aimed at owner-occupants. Investor taxes are non-homestead and the rent roll is unstated. Listing says: Great opportunity for either investment or multigenerational living. · AI review
- mediumSeller bought for $450K in 2021 and county value is $384,900. The ask is well above value. Based on: data: county.market_value · AI review
- low77 days on market with no rents, lease or expense information given. Based on: data: listing.days_on_market · AI review
Opportunities
- Minneapolis has no rent cap, so rents can follow the market. Bring rents to market after turnover. Based on: data: underwriting.rent_rule · AI review
- Long time on market gives room to negotiate toward the break-even price. Based on: data: underwriting.break_even_price · AI review
- Original woodwork and hardwood floors appear intact and are a selling point for tenants. Based on: photo 4 · AI review
Questions for the agent
- Is the property currently rented? Please share the rent roll, lease dates and any month-to-month tenants.
- Is it licensed as a rental in Minneapolis, and when was the last inspection?
- How many bedrooms are legal in each unit, with egress and closets? Why does the listing say 9 and the data 7?
- What are the roof's permit date and the windows' age and installer?
- Who pays heat? Are there separate meters and boilers for each unit?
- Is the seller flexible on price given 77 days on market?
Bottom line
Big, handsome duplex with a new roof, but at $459,900 it loses money every month and needs roughly $70K off to break even. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $7,309 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,907 |
| 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% / 9% |
Price history Realtor.com
On the market since 2025-12-18 (291 days, relisted 2×); down $30,100 (6.1%) from the first ask of $490,000; last sold for $450,000 on 2021-11-01; listed for rent at $2,200/mo on 2017-06-03.
| Date | Event | Price |
|---|---|---|
| Listed | $459,900 | |
| Removed | $469,900 | |
| Removed | — | |
| Listed | $475,000 | |
| Removed | — | |
| Price changed | $475,000 | |
| Listed | $490,000 | |
| Sold | $450,000 | |
| Listed | $434,000 | |
| Sold public record | $375,000 | |
| Rental removed | $2,200/mo | |
| Sold | $375,000 | |
| Listed | $375,000 | |
| Listed for rent | $2,200/mo | |
| Sold public record | $127,084 | |
| Sold public record | $77,500 | |
| Sold public record | $77,500 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1905 |
| Market value (2026) | $384,900 |
| Property tax | $7,309 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2021-10-01 · $450,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
MN 55, about 333 m away.
Crime in Longfellow
689 incidents in the last 12 months (136 per 1,000 residents), −5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).