3322 Stevens Ave
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 3,899 sq ft
Minneapolis, MN · Lyndale · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $315,000 2 units · $158K per unit
- Monthly cash flow
- $34 at 20% down, 7%
- Break-even price
- $321,482 where cash flow hits $0
First look
The listing leans on "previous" rents of $3,630/month, but those are not current tenants and run above our estimates ($1,825 and $1,650 mid, about $3,475 combined). At the $315K ask, our underwriting shows about $34/month cash flow with a 6.5% cap rate, and break-even is near $321K. That is roughly break-even at today's rates, with almost no cushion, and it only holds if rents reach our estimates. Photos show fresh flooring and a new kitchen, but also stained walls and a boiler claim with no age or proof. Ask for the leases, rent deposits and bank records first, then decide on a showing. The ask is slightly below break-even, so any price cut adds cushion.
Things to consider
- Stated rents are historical and above our estimates Our mid estimates total about $3,475 versus $3,630 claimed. If real rents land below our estimate, cash flow turns negative.Listing says: “Previously generating a combined $3,630/month in rental income”
- Price is slightly below break-even Break-even is about $321K and the ask is $315K. There is almost no cushion, so negotiating lower is the way to build margin.
- Big price jump since the 2024 purchase The seller paid $238K and wants 32% more. Check whether the work justifies it or if it is a cosmetic flip.
- Investor tax bill is non-homestead Taxes of about $5,764 are a large expense relative to the rents and are already in the cash flow numbers.
- Heating system and age unverified Steam heat with a claimed newer boiler can be a plus, but a failed or mixed system is a costly repair.Listing says: “A newer high-efficiency boiler adds to the property's appeal and efficiency.”
- Interstate noise nearby Being about 71 m from I-35W can reduce rents or lengthen vacancy.
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 high-efficiency boilerListing says: A newer high-efficiency boiler adds to the property's appeal and efficiency.
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
- $315,000
- Cash to close
- $40,950
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- −$352/mo
- Cash-on-cash
- −10.3%
- Cap rate
- 6.5%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $261,222
- Rent that breaks even
- $3,932/mo
Long run
- Year 30: property vs stocks
- $1.19M vs $400K
- Cash flow turns positive
- year 5
The deal
- Price
- $315,000
- Cash to close
- $40,950
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- −$646/mo
- Cash-on-cash
- −18.9%
- Cap rate
- 5.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $216,340
- Rent that breaks even
- $4,418/mo
Long run
- Year 30: property vs stocks
- $897K vs $568K
- Cash flow turns positive
- year 12
The deal
- Price
- $305,000
- Cash to close
- $39,650
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- −$287/mo
- Cash-on-cash
- −8.7%
- Cap rate
- 6.7%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $261,222
- Rent that breaks even
- $3,847/mo
Long run
- Year 30: property vs stocks
- $1.21M vs $370K
- Cash flow turns positive
- year 5
The deal
- Price
- $305,000
- Cash to close
- $39,650
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- −$581/mo
- Cash-on-cash
- −17.6%
- Cap rate
- 5.6%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $216,340
- Rent that breaks even
- $4,322/mo
Long run
- Year 30: property vs stocks
- $902K vs $516K
- Cash flow turns positive
- year 11
The deal
- Price
- $315,000
- Cash to close
- $72,450
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- $34/mo
- Cash-on-cash
- 0.6%
- Cap rate
- 6.5%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $321,482
- Rent that breaks even
- $3,430/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $552K
- Cash flow turns positive
- year 1
The deal
- Price
- $315,000
- Cash to close
- $72,450
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- −$259/mo
- Cash-on-cash
- −4.3%
- Cap rate
- 5.4%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $266,247
- Rent that breaks even
- $3,854/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $626K
- Cash flow turns positive
- year 8
The deal
- Price
- $305,000
- Cash to close
- $70,150
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- $88/mo
- Cash-on-cash
- 1.5%
- Cap rate
- 6.7%
- DSCR
- 1.05×
Break-even
- Price that breaks even
- $321,482
- Rent that breaks even
- $3,361/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $534K
- Cash flow turns positive
- year 1
The deal
- Price
- $305,000
- Cash to close
- $70,150
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- −$206/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.6%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $266,247
- Rent that breaks even
- $3,776/mo
Long run
- Year 30: property vs stocks
- $1.02M vs $585K
- Cash flow turns positive
- year 7
The deal
- Price
- $315,000
- Cash to close
- $88,200
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- $139/mo
- Cash-on-cash
- 1.9%
- Cap rate
- 6.5%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $342,914
- Rent that breaks even
- $3,294/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $671K
- Cash flow turns positive
- year 1
The deal
- Price
- $315,000
- Cash to close
- $88,200
- Price per unit
- $157,500
- GRM
- 7.6
Each month
- Cash flow
- −$155/mo
- Cash-on-cash
- −2.1%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $283,996
- Rent that breaks even
- $3,701/mo
Long run
- Year 30: property vs stocks
- $1.08M vs $702K
- Cash flow turns positive
- year 5
The deal
- Price
- $305,000
- Cash to close
- $85,400
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- $189/mo
- Cash-on-cash
- 2.7%
- Cap rate
- 6.7%
- DSCR
- 1.12×
Break-even
- Price that breaks even
- $342,914
- Rent that breaks even
- $3,229/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $650K
- Cash flow turns positive
- year 1
The deal
- Price
- $305,000
- Cash to close
- $85,400
- Price per unit
- $152,500
- GRM
- 7.3
Each month
- Cash flow
- −$105/mo
- Cash-on-cash
- −1.5%
- Cap rate
- 5.6%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $283,996
- Rent that breaks even
- $3,628/mo
Long run
- Year 30: property vs stocks
- $1.10M vs $667K
- Cash flow turns positive
- year 4
Monthly
Monthly breakdown
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | −$352 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | −$646 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,826 |
| PMI | −$172 |
| Cash flow | −$287 |
| Principal paid down (equity, not cash) | $232 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,826 |
| PMI | −$172 |
| Cash flow | −$581 |
| Principal paid down (equity, not cash) | $232 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,677 |
| Cash flow | $34 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,677 |
| Cash flow | −$259 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,623 |
| Cash flow | $88 |
| Principal paid down (equity, not cash) | $207 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,623 |
| Cash flow | −$206 |
| Principal paid down (equity, not cash) | $207 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,572 |
| Cash flow | $139 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,572 |
| Cash flow | −$155 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,711 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | $189 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Public record | −$480 |
| Insurance Estimate | −$254 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,417 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | −$105 |
| Principal paid down (equity, not cash) | $194 |
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
- $718,713
- Rental profits, invested at 7%
- $468,177
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $283,500 of loan.
$255,989 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,722
- Monthly shortfalls, invested
- $88,273
$40,950 put into an index fund instead of the down payment and closing costs.
$13,501 you'd have paid in while the building lost money, invested instead.
The building comes out $786,895 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $178,629
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $283,500 of loan.
$118,199 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,722
- Monthly shortfalls, invested
- $256,018
$40,950 put into an index fund instead of the down payment and closing costs.
$43,548 you'd have paid in while the building lost money, invested instead.
The building comes out $329,602 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $517,523
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $274,500 of loan.
$274,671 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $301,826
- Monthly shortfalls, invested
- $68,006
$39,650 put into an index fund instead of the down payment and closing costs.
$10,356 you'd have paid in while the building lost money, invested instead.
The building comes out $843,587 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $206,087
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $274,500 of loan.
$132,017 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $301,826
- Monthly shortfalls, invested
- $213,863
$39,650 put into an index fund instead of the down payment and closing costs.
$35,540 you'd have paid in while the building lost money, invested instead.
The building comes out $386,295 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $672,282
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $252,000 of loan.
$326,439 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,508
$72,450 put into an index fund instead of the down payment and closing costs.
The building comes out $839,486 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $289,970
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $252,000 of loan.
$170,487 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,508
- Monthly shortfalls, invested
- $74,981
$72,450 put into an index fund instead of the down payment and closing costs.
$11,886 you'd have paid in while the building lost money, invested instead.
The building comes out $382,193 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $732,613
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $244,000 of loan.
$345,600 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,000
$70,150 put into an index fund instead of the down payment and closing costs.
The building comes out $894,509 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $326,077
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $244,000 of loan.
$185,594 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,000
- Monthly shortfalls, invested
- $50,757
$70,150 put into an index fund instead of the down payment and closing costs.
$7,832 you'd have paid in while the building lost money, invested instead.
The building comes out $437,217 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $791,059
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $236,250 of loan.
$364,161 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,401
$88,200 put into an index fund instead of the down payment and closing costs.
The building comes out $838,371 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $364,851
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $236,250 of loan.
$200,990 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,401
- Monthly shortfalls, invested
- $31,085
$88,200 put into an index fund instead of the down payment and closing costs.
$4,666 you'd have paid in while the building lost money, invested instead.
The building comes out $381,077 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $847,620
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $228,750 of loan.
$382,125 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $650,087
$85,400 put into an index fund instead of the down payment and closing costs.
The building comes out $893,429 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $406,751
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $228,750 of loan.
$216,692 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $650,087
- Monthly shortfalls, invested
- $16,424
$85,400 put into an index fund instead of the down payment and closing costs.
$2,405 you'd have paid in while the building lost money, invested instead.
The building comes out $436,136 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 $1.19M, stocks $400K. The property wins.
Year 30 (loan paid off): property $897K, stocks $568K. The property wins.
Year 30 (loan paid off): property $1.21M, stocks $370K. The property wins.
Year 30 (loan paid off): property $902K, stocks $516K. The property wins.
Year 30 (loan paid off): property $1.39M, stocks $552K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $626K. The property wins.
Year 30 (loan paid off): property $1.43M, stocks $534K. The property wins.
Year 30 (loan paid off): property $1.02M, stocks $585K. The property wins.
Year 30 (loan paid off): property $1.51M, stocks $671K. The property wins.
Year 30 (loan paid off): property $1.08M, stocks $702K. The property wins.
Year 30 (loan paid off): property $1.54M, stocks $650K. The property wins.
Year 30 (loan paid off): property $1.10M, stocks $667K. 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.
3 bed estimate $1,825/mo · range $1,650–$2,050 · 6 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3333 Nicollet Ave Unit B, Minneapolis | $2,499 | 3 / 2 | 0.1 mi |
| 3208 Blaisdell Ave Apt 3, Minneapolis | $1,750 | 3 / 1 | 0.3 mi |
| 3336 4th Ave S Apt 4, Minneapolis | $1,595 | 3 / 1 | 0.3 mi |
| 3336 4th Ave S Apt 2, Minneapolis | $1,795 | 3 / 1 | 0.3 mi |
| 2821 1st Ave S, Minneapolis | $1,600 | 3 / 1 | 0.6 mi |
| 705 W 31st St, Minneapolis | $1,775 | 3 / 1 | 0.7 mi |
2 bed estimate $1,650/mo · range $1,375–$1,750 · 20 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3329 Nicollet Ave Unit 300, Minneapolis | $1,675 | 2 / 1 | 0.1 mi |
| 3212 1st Ave S, Minneapolis | $1,800 | 2 / 1 | 0.1 mi |
| 3429 2nd Ave S Fl 1, Minneapolis | $1,400 | 2 / 1 | 0.2 mi |
| 3503 2nd Ave S, Minneapolis | $1,639 | 2 / 1 | 0.2 mi |
| 3515 2nd Ave S Unit 303, Minneapolis | $1,695 | 2 / 1 | 0.2 mi |
| 3123 2nd Ave S Unit 1, Minneapolis | $1,490 | 2 / 1 | 0.3 mi |
| 3648 Blaisdell Ave Apt 2, Minneapolis | $1,595 | 2 / — | 0.5 mi |
| 3520 Grand Ave S, Minneapolis | $1,225 | 2 / 1 | 0.5 mi |
| 3535-3537 Harriet Ave, Minneapolis | $2,225 | 2 / 1 | 0.5 mi |
| 3247 Lyndale Ave S, Minneapolis | $1,315 | 2 / 1 | 0.6 mi |
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
- highRents quoted are 'previous' rents, not current tenants. They are about $600/month above our combined estimate and may not be achievable. Listing says: Previously generating a combined $3,630/month in rental income · AI review
- mediumBought for $238,000 in Mar 2024; asking is 32% more 31 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 0302824130099: last sale 2024-03-01, $238,000
- mediumAbout 71 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 71 m
- mediumSteam heat plus a 'newer' boiler with no age or install date. Unclear if one boiler serves both units and who pays for heat. Based on: data: county.heat_type · AI review
- mediumWalls in the main unit appear stained or dirty, which could point to past moisture or hard wear. Needs inspection. Based on: photo 3 · AI review
- low1900 build with stucco exterior and old enclosed porch. Check the stucco, porch and foundation condition. Based on: photo 1 · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 7 days on market, 2 price cuts
- Both kitchens and baths look partly updated, so turn costs may be modest. Flooring appears new. Based on: photo 8 · AI review
- In-unit laundry in both units plus basement laundry supports rent and tenant appeal. Listing says: Both units offer the convenience of in-unit laundry · AI review
- Minneapolis has no rent cap, so rents can follow the market after a refresh. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Who were the previous tenants, when did they leave, and why is the property vacant or unleased now?
- Can you provide signed leases, deposit records and proof the $2,030 and $1,600 rents were actually paid?
- What was renovated since the March 2024 purchase at $238K, and were permits pulled?
- How old is the boiler, is there one or two, and who pays for heat?
- What is the unit mix in beds and baths, and are the in-unit laundry hookups legal and working?
- What caused the stains on the main-level walls, and has there been any water intrusion?
Bottom line
At $315K the numbers barely break even, and only if rents hit our $3,475 estimate rather than the $3,630 old rents. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $5,764 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,052 |
| 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 2026-09-28 (7 days); last sold for $238,000 on 2024-03-29.
| Date | Event | Price |
|---|---|---|
| Listed | $315,000 | |
| Removed | $349,900 | |
| Removed | $379,000 | |
| Removed | $299,000 | |
| Sold | $238,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $303,500 |
| Property tax | $5,764 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-03-01 · $238,000 |
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 71 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).