Menu
Back to Minneapolis
Minneapolis › Central

3327 Oakland Ave

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,920 sq ft

Minneapolis, MN · Central · View the listing ↗

Close
25 photos
3327 Oakland Ave, photo 1
1 / 25
3327 Oakland Ave, photo 2
2 / 25
3327 Oakland Ave, photo 3
3 / 25
3327 Oakland Ave, photo 4
4 / 25
3327 Oakland Ave, photo 5
5 / 25
3327 Oakland Ave, photo 6
6 / 25
3327 Oakland Ave, photo 7
7 / 25
3327 Oakland Ave, photo 8
8 / 25
3327 Oakland Ave, photo 9
9 / 25
3327 Oakland Ave, photo 10
10 / 25
3327 Oakland Ave, photo 11
11 / 25
3327 Oakland Ave, photo 12
12 / 25
3327 Oakland Ave, photo 13
13 / 25
3327 Oakland Ave, photo 14
14 / 25
3327 Oakland Ave, photo 15
15 / 25
3327 Oakland Ave, photo 16
16 / 25
3327 Oakland Ave, photo 17
17 / 25
3327 Oakland Ave, photo 18
18 / 25
3327 Oakland Ave, photo 19
19 / 25
3327 Oakland Ave, photo 20
20 / 25
3327 Oakland Ave, photo 21
21 / 25
3327 Oakland Ave, photo 22
22 / 25
3327 Oakland Ave, photo 23
23 / 25
3327 Oakland Ave, photo 24
24 / 25
3327 Oakland Ave, photo 25
25 / 25

Photos courtesy of Keller Williams Classic Realty Northwest, via Realtor.com.

Asking price
$339,000
2 units · $170K per unit
Monthly cash flow
−$144
at 20% down, 7%
Estimated rent
$3,150/mo
medium confidence · 13 rentals within 0.75 mi
Break-even price
$311,935
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a stucco up/down in Central Minneapolis asking $339K, with stated rents of $1,435 and $1,470 ($2,905/mo combined), while our estimate is $1,575 per unit ($3,150/mo). Our underwriting at ask shows about -$144/mo and a 5.9% cap, and break-even is near $312K, so the price is somewhat above what the rents support, though the building looks fine. The sellers paid $315K in 2021 and the county values it at $310,600. After 151 days on market there is room to push on price. Before a showing, get the flat roof's age and repair history, since the 2026 repair suggests a leak, and ask for leases and 12 months of expenses. Don't pay anything near ask unless the rent roll beats what the listing shows.

Things to consider

  1. Price is above what the rents support At ask the property runs about -$144/mo and break-even is near $312K. The gap is fairly small and could be closed with a lower price or rent increases.
  2. Flat roof with a recent repair Flat roofs on stucco are expensive to fix and leaks can hide in walls. A 2026 repair suggests a problem happened.Listing says: “Recent updates: flat roof repair (2026), fresh paint, updated window framing.”
  3. Month-to-month tenants Income isn't locked in and turnover could come soon after closing. Verify the rents with leases or deposits.Listing says: “with month-to-month leases”
  4. Stated rents are below our estimates Our estimate is $1,575 per 2-bed, against $1,435 and $1,470 stated. If the stated rents are below market, there may be room to raise them at turnover.
  5. Seller's recent purchase and long time on market The seller paid $315K in 2021 and it has sat 151 days. That supports a lower offer.

From the photos

Listing photo 2
1 of 7Plus

Two front doors and two address numbers on a shared stoop confirm two units. Stucco exterior looks intact from the street.

Listing photo 3
2 of 7Check

Flat-roof stucco building with small shingled awnings. Roof surface isn't visible, so its condition is unknown.

Listing photo 6
3 of 7Plus

Hardwood floors look refinished and in good condition with arched openings.

Listing photo 9
4 of 7Concern

Kitchen appears basic: white cabinets, laminate counters, an older-style gas range and a white fridge. Looks functional but dated.

Listing photo 8
5 of 7Check

Cast-iron radiators are visible, so the building has hot-water heat. Check the boiler's age.

Listing photo 5
6 of 7Check

The staged living room appears virtually altered. Rely on the empty-room photos for condition.

Listing photo 4
7 of 7Check

No photos of the bathrooms, basement, boiler, electrical panel or roof. Ask for these.

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Rents the listing states

  • Upper: $1,435 (month-to-month)Listing says: Upper unit rents at $1,435/mo, lower at $1,470/mo ($2,905/mo combined), with month-to-month leases.
  • Lower: $1,470 (month-to-month)Listing says: Upper unit rents at $1,435/mo, lower at $1,470/mo ($2,905/mo combined), with month-to-month leases.

Condition and repairs

  • doneFlat roof repair (2026)Listing says: Recent updates: flat roof repair (2026), fresh paint, updated window framing.
  • doneFresh paintListing says: Recent updates: flat roof repair (2026), fresh paint, updated window framing.
  • doneUpdated window framingListing says: Recent updates: flat roof repair (2026), fresh paint, updated window framing.

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

Down payment %
Offer $
Management
Interest rate %
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
$339,000
Cash to close
$77,970
Price per unit
$169,500
GRM
9.0

Each month

Cash flow
−$144/mo
Cash-on-cash
−2.2%
Cap rate
5.9%
DSCR
0.92×

Break-even

Price that breaks even
$311,935
Rent that breaks even
$3,335/mo

Long run

Year 30: property vs stocks
$1.26M vs $618K
Cash flow turns positive
year 5

Monthly

Monthly breakdown

Rent$3,150
Vacancy (6%)−$189
Collected$2,961
Property tax Listing−$377
Insurance Estimate−$190
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$252
Capital reserve (8% of rent)−$252
Net operating income$1,660
Mortgage (principal + interest)−$1,804
Cash flow−$144
Principal paid down (equity, not cash)$230

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$1,261,535
Your equity when you sell
$773,471

Sells for $822,842 (value up 3% a year), minus 6% selling cost ($49,371). Rent paid down $271,200 of loan.

Rental profits, invested at 7%
$488,064

$263,156 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$617,676
Cash to close, invested at 7%
$593,528

$77,970 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$24,148

$3,555 you'd have paid in while the building lost money, invested instead.

The building comes out $643,859 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 $1.26M, stocks $618K. 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 $1,375–$1,750 · 13 rentals within 0.75 mi

AddressRentBd / BaSq ftDistanceListedType
3549 Columbus Ave S, Minneapolis $1,250 2 / 1 800 0.3 mi — Apartment
3429 2nd Ave S Fl 1, Minneapolis $1,400 2 / 1 850 0.4 mi — Apartment
3503 2nd Ave S, Minneapolis $1,639 2 / 1 686 0.4 mi 2025-08-04 Apartment
3515 2nd Ave S Unit 303, Minneapolis $1,695 2 / 1 750 0.4 mi 2026-09-07 Apartment
3123 2nd Ave S Unit 1, Minneapolis $1,490 2 / 1 1,123 0.5 mi 2026-07-30 Apartment
3718 Oakland Ave S, Minneapolis $1,150 2 / 1 700 0.5 mi 2026-01-03 Apartment
3715 Columbus Ave S Apt 2, Minneapolis $1,395 2 / 1 920 0.5 mi — Apartment
3715 Columbus Ave S Apt 4, Minneapolis $1,495 2 / 1 920 0.5 mi — Apartment
3212 1st Ave S, Minneapolis $1,800 2 / 1 900 0.6 mi 2026-09-08 Duplex triplex
3329 Nicollet Ave, Minneapolis $1,675 2 / 1 700 0.6 mi 2026-09-10 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

  • highA roof repair in 2026 on a flat roof suggests a recent leak. Ask what failed and whether there was interior damage. Listing says: Recent updates: flat roof repair (2026), fresh paint, updated window framing. · AI review
  • mediumFlat roof per the city assessor on a stucco building: get its age and a moisture inspection. Public record: Hennepin County parcel 0202824230151: roof=FLAT, exterior=STUCCO
  • mediumPhotos were digitally altered, so the staged living room does not show true condition. Listing says: Some photos have been virtually altered for presentation purposes. · AI review
  • mediumHot-water heat is probably one shared boiler, so the owner likely pays heat even though the listing only says tenants pay electric and gas. Based on: data: county.heat_type · AI review
  • lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "at $1,435/mo, lower at $1,470/mo ($2,905/mo combined), with month-to-month leases. Features hardwood floors, full basement, and rare"
  • lowFresh paint and updated window framing can cover water or rot issues. Inspect the walls and window openings. Listing says: Recent updates: flat roof repair (2026), fresh paint, updated window framing. · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 154 days on market
  • Minneapolis has no rent cap, so rents can move with the market once leases roll. Based on: data: underwriting.rent_rule · AI review
  • Four off-street parking spaces are unusual for this area and help rentability. Listing says: rare four-car off-street parking · AI review
  • Hardwood floors look in good shape and need little work between tenants. Based on: photo 6 · AI review

Questions for the agent

  • How old is the flat roof, what was repaired in 2026, and was there any interior damage?
  • Can I see the leases, rent roll and 12 months of expenses, including the heating bill?
  • Is heat on one boiler or does each unit have its own system? Who pays it?
  • Which photos were virtually altered, and can I see the originals?
  • Why has it sat 151 days, and have there been price cuts or offers?
  • What is the age of the boiler, water heater and electrical panels?

Bottom line

Decent building with working rents, but at $339K it loses about $144 a month, and the price would need to fall modestly to work. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2025. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.$4,521
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,280
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. base rate8% / 8%

Price history Realtor.com

On the market since 2026-05-04 (154 days); down $10,000 (2.9%) from the first ask of $349,000; last sold for $315,000 on 2021-06-03.

DateEventPrice
Price changed$339,000
Listed$349,000
Sold$315,000
Relisted$325,000
Removed$325,000
Listed$325,000
Removed$90,000
Sold$81,150
Listed$69,900
Price changed$100,000
Price changed$120,000
Price changed$130,000
Listed$150,000
Sold public record$226,000
Sold public record$175,000
Sold public record$141,000
Sold public record$80,000
Sold public record$59,000

County record Public record

Recorded asduplex
Living units2
Year built1937
Market value (2026)$310,600
Property tax$4,530
Special assessmentsnone
Homesteadno
Last sale2021-06-01 · $315,000

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 669 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).