3339 Aldrich Ave N
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,700 sq ft
Minneapolis, MN · McKinley · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $275,000 2 units · $138K per unit
- Monthly cash flow
- $137 at 20% down, 7%
- Estimated rent
- $3,150/mo medium confidence
- Break-even price
- $300,678 where cash flow hits $0
First look
This is a 1898 up/down duplex in McKinley, asking $275K after the seller paid $260K in November 2024. Our numbers have it making about $137 a month at 20% down and the asking price, with a 7.0% cap rate. The break-even price is around $300.7K, so the ask is about $26K below break-even. The listing gives no rents and pitches the lower unit to an owner-occupant, so get a rent roll or confirm both units can be rented. The lead abatement work, 2019 roof and new windows help, but the basement shows a rubble stone foundation and old panels. Worth a showing if the inspection of the foundation and electrical comes back clean, since the numbers work at the ask.
Things to consider
- Price is below what the numbers support At the ask and 20% down we show positive cash flow, and break-even is about $300.7K. The margin is thin, though, and depends on rents you still need to verify.
- Rents are unknown The description gives no rents. Our estimate is about $1,575 per unit, and the lower unit is marketed to an owner-occupant, so income depends on what you verify.Listing says: “The lower unit is designed with the owner-occupant in mind.”
- Old stone foundation Moisture and mortar problems in an 1898 foundation can be expensive. Get an inspection before going firm.From photo 7
- Recent capital work lowers near-term risk A newer roof and new windows mean fewer big-ticket items in the first few years.Listing says: “new roof in 2019”
- Non-homestead taxes are already counted County shows non-homestead status with about $4,695 in tax, so the tax bill shouldn't jump after purchase.
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
- doneLead abatement program: new windows, paint and other work, about $40kListing says: recently completed MPLS lead abatement program with $40k improvements in new windows, paint projects, etc.
- doneNew roofListing says: new roof in 2019
- doneNew garage doorsListing says: new garage doors installed 2023
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
- $275,000
- Cash to close
- $35,750
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- −$201/mo
- Cash-on-cash
- −6.7%
- Cap rate
- 7.0%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $244,317
- Rent that breaks even
- $3,411/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $315K
- Cash flow turns positive
- year 5
The deal
- Price
- $275,000
- Cash to close
- $35,750
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- −$467/mo
- Cash-on-cash
- −15.7%
- Cap rate
- 5.8%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $203,633
- Rent that breaks even
- $3,832/mo
Long run
- Year 30: property vs stocks
- $866K vs $426K
- Cash flow turns positive
- year 9
The deal
- Price
- $265,000
- Cash to close
- $34,450
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- −$135/mo
- Cash-on-cash
- −4.7%
- Cap rate
- 7.2%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $244,317
- Rent that breaks even
- $3,326/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $285K
- Cash flow turns positive
- year 4
The deal
- Price
- $265,000
- Cash to close
- $34,450
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- −$402/mo
- Cash-on-cash
- −14.0%
- Cap rate
- 6.0%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $203,633
- Rent that breaks even
- $3,736/mo
Long run
- Year 30: property vs stocks
- $879K vs $383K
- Cash flow turns positive
- year 8
The deal
- Price
- $275,000
- Cash to close
- $63,250
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- $137/mo
- Cash-on-cash
- 2.6%
- Cap rate
- 7.0%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $300,678
- Rent that breaks even
- $2,973/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $481K
- Cash flow turns positive
- year 1
The deal
- Price
- $275,000
- Cash to close
- $63,250
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- −$130/mo
- Cash-on-cash
- −2.5%
- Cap rate
- 5.8%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $250,608
- Rent that breaks even
- $3,339/mo
Long run
- Year 30: property vs stocks
- $991K vs $506K
- Cash flow turns positive
- year 5
The deal
- Price
- $265,000
- Cash to close
- $60,950
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- $190/mo
- Cash-on-cash
- 3.7%
- Cap rate
- 7.2%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $300,678
- Rent that breaks even
- $2,903/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $464K
- Cash flow turns positive
- year 1
The deal
- Price
- $265,000
- Cash to close
- $60,950
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- −$77/mo
- Cash-on-cash
- −1.5%
- Cap rate
- 6.0%
- DSCR
- 0.95×
Break-even
- Price that breaks even
- $250,608
- Rent that breaks even
- $3,262/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $474K
- Cash flow turns positive
- year 4
The deal
- Price
- $275,000
- Cash to close
- $77,000
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- $228/mo
- Cash-on-cash
- 3.6%
- Cap rate
- 7.0%
- DSCR
- 1.17×
Break-even
- Price that breaks even
- $320,723
- Rent that breaks even
- $2,854/mo
Long run
- Year 30: property vs stocks
- $1.49M vs $586K
- Cash flow turns positive
- year 1
The deal
- Price
- $275,000
- Cash to close
- $77,000
- Price per unit
- $137,500
- GRM
- 7.3
Each month
- Cash flow
- −$38/mo
- Cash-on-cash
- −0.6%
- Cap rate
- 5.8%
- DSCR
- 0.97×
Break-even
- Price that breaks even
- $267,316
- Rent that breaks even
- $3,206/mo
Long run
- Year 30: property vs stocks
- $1.07M vs $590K
- Cash flow turns positive
- year 3
The deal
- Price
- $265,000
- Cash to close
- $74,200
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- $278/mo
- Cash-on-cash
- 4.5%
- Cap rate
- 7.2%
- DSCR
- 1.21×
Break-even
- Price that breaks even
- $320,723
- Rent that breaks even
- $2,789/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $565K
- Cash flow turns positive
- year 1
The deal
- Price
- $265,000
- Cash to close
- $74,200
- Price per unit
- $132,500
- GRM
- 7.0
Each month
- Cash flow
- $12/mo
- Cash-on-cash
- 0.2%
- Cap rate
- 6.0%
- DSCR
- 1.01×
Break-even
- Price that breaks even
- $267,316
- Rent that breaks even
- $3,133/mo
Long run
- Year 30: property vs stocks
- $1.10M vs $565K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,647 |
| PMI | −$155 |
| Cash flow | −$201 |
| Principal paid down (equity, not cash) | $210 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,647 |
| PMI | −$155 |
| Cash flow | −$467 |
| Principal paid down (equity, not cash) | $210 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,587 |
| PMI | −$149 |
| Cash flow | −$135 |
| Principal paid down (equity, not cash) | $202 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,587 |
| PMI | −$149 |
| Cash flow | −$402 |
| Principal paid down (equity, not cash) | $202 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,464 |
| Cash flow | $137 |
| Principal paid down (equity, not cash) | $186 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,464 |
| Cash flow | −$130 |
| Principal paid down (equity, not cash) | $186 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,410 |
| Cash flow | $190 |
| Principal paid down (equity, not cash) | $179 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,410 |
| Cash flow | −$77 |
| Principal paid down (equity, not cash) | $179 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,372 |
| Cash flow | $228 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,372 |
| Cash flow | −$38 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Net operating income | $1,600 |
| Mortgage (principal + interest) | −$1,322 |
| Cash flow | $278 |
| Principal paid down (equity, not cash) | $168 |
| Rent | $3,150 |
| Vacancy (6%) | −$189 |
| Collected | $2,961 |
| Property tax Public record | −$391 |
| Insurance Estimate | −$204 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$252 |
| Capital reserve (9% of rent) | −$284 |
| Property management | −$266 |
| Net operating income | $1,334 |
| Mortgage (principal + interest) | −$1,322 |
| Cash flow | $12 |
| Principal paid down (equity, not cash) | $168 |
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
- $627,447
- Rental profits, invested at 7%
- $541,597
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $247,500 of loan.
$279,783 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $272,138
- Monthly shortfalls, invested
- $42,630
$35,750 put into an index fund instead of the down payment and closing costs.
$6,431 you'd have paid in while the building lost money, invested instead.
The building comes out $854,277 ahead after 30 years.
- Your equity when you sell
- $627,447
- Rental profits, invested at 7%
- $238,193
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $247,500 of loan.
$145,959 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $272,138
- Monthly shortfalls, invested
- $153,750
$35,750 put into an index fund instead of the down payment and closing costs.
$24,747 you'd have paid in while the building lost money, invested instead.
The building comes out $439,752 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $590,943
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $238,500 of loan.
$298,465 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,242
- Monthly shortfalls, invested
- $22,363
$34,450 put into an index fund instead of the down payment and closing costs.
$3,287 you'd have paid in while the building lost money, invested instead.
The building comes out $910,969 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $274,400
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $238,500 of loan.
$161,992 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,242
- Monthly shortfalls, invested
- $120,344
$34,450 put into an index fund instead of the down payment and closing costs.
$18,953 you'd have paid in while the building lost money, invested instead.
The building comes out $496,445 ahead after 30 years.
- Your equity when you sell
- $627,447
- Rental profits, invested at 7%
- $754,218
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $220,000 of loan.
$346,643 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $481,475
$63,250 put into an index fund instead of the down payment and closing costs.
The building comes out $900,191 ahead after 30 years.
- Your equity when you sell
- $627,447
- Rental profits, invested at 7%
- $363,877
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $220,000 of loan.
$198,105 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $481,475
- Monthly shortfalls, invested
- $24,183
$63,250 put into an index fund instead of the down payment and closing costs.
$3,602 you'd have paid in while the building lost money, invested instead.
The building comes out $485,666 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $814,549
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $212,000 of loan.
$365,803 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $463,967
$60,950 put into an index fund instead of the down payment and closing costs.
The building comes out $955,214 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $410,102
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $212,000 of loan.
$215,117 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $463,967
- Monthly shortfalls, invested
- $10,077
$60,950 put into an index fund instead of the down payment and closing costs.
$1,454 you'd have paid in while the building lost money, invested instead.
The building comes out $540,689 ahead after 30 years.
- Your equity when you sell
- $627,447
- Rental profits, invested at 7%
- $857,913
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $206,250 of loan.
$379,575 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $586,144
$77,000 put into an index fund instead of the down payment and closing costs.
The building comes out $899,216 ahead after 30 years.
- Your equity when you sell
- $627,447
- Rental profits, invested at 7%
- $446,857
Sells for $667,497 (value up 3% a year), minus 6% selling cost ($40,050). Rent paid down $206,250 of loan.
$227,924 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $586,144
- Monthly shortfalls, invested
- $3,469
$77,000 put into an index fund instead of the down payment and closing costs.
$490 you'd have paid in while the building lost money, invested instead.
The building comes out $484,691 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $914,473
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $198,750 of loan.
$397,538 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $564,829
$74,200 put into an index fund instead of the down payment and closing costs.
The building comes out $954,275 ahead after 30 years.
- Your equity when you sell
- $604,632
- Rental profits, invested at 7%
- $499,948
Sells for $643,225 (value up 3% a year), minus 6% selling cost ($38,593). Rent paid down $198,750 of loan.
$245,398 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $564,829
$74,200 put into an index fund instead of the down payment and closing costs.
The building comes out $539,750 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 $1.17M, stocks $315K. The property wins.
Year 30 (loan paid off): property $866K, stocks $426K. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $285K. The property wins.
Year 30 (loan paid off): property $879K, stocks $383K. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $481K. The property wins.
Year 30 (loan paid off): property $991K, stocks $506K. The property wins.
Year 30 (loan paid off): property $1.42M, stocks $464K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $474K. The property wins.
Year 30 (loan paid off): property $1.49M, stocks $586K. The property wins.
Year 30 (loan paid off): property $1.07M, stocks $590K. The property wins.
Year 30 (loan paid off): property $1.52M, stocks $565K. The property wins.
Year 30 (loan paid off): property $1.10M, stocks $565K. 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.
2 bed / 1 bath estimate $1,575/mo · range $1,375–$1,775
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3107 Dupont Ave N, Unit 1, Minneapolis 55411 off market | $1,550 | 2 / 1 | 0.3 mi | 94% |
| 2935 Aldrich Ave N, Unit 1, Minneapolis 55411 off market | $1,300 | 2 / 1 | 0.4 mi | 93% |
| 3318 N Penn Ave, Unit 3, Minneapolis 55412 off market | $1,100 | 2 / 1 | 0.9 mi | 93% |
| 2635 California St NE, Minneapolis 55418 off market | $1,600 | 2 / 1 | 1.0 mi | 92% |
| 2900 Colfax Ave N, Minneapolis 55411 off market | $1,345 | 2 / 1 | 0.5 mi | 92% |
| 3610 N Queen Ave, Unit 2, Minneapolis 55412 off market | $1,400 | 2 / 1 | 1.0 mi | 91% |
| 2937-2939 Fremont Ave N, Minneapolis 55411 off market | $1,300 | 2 / 1 | 0.5 mi | 90% |
| 3241 N Humboldt Ave, Minneapolis 55412 off market | $1,400 | 2 / 1 | 0.4 mi | 90% |
| 816 21st Ave N, Apt 103, Minneapolis 55411 | $1,788 | 2 / 1 | 1.1 mi | 89% |
| 816 21st Ave N, Apt 106, Minneapolis 55411 | $1,788 | 2 / 1 | 1.1 mi | 89% |
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
- highPriced above what the rents support. Our break-even is about $39K under ask. Based on: data: underwriting · AI review
- mediumRubble stone foundation with visible staining and efflorescence on an 1898 house. Needs a structural and moisture inspection. Based on: photo 7 · AI review
- lowBought at $260K in Nov 2024, and the seller is asking $15K more about 22 months later. Based on: data: county.last_sale_price · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 8 days on market, 2 price cuts
- Separate utilities mean tenants control their own costs, so owner expenses stay low. Listing says: With separate utilities, each unit offers independent control and cost management. · AI review
- Minneapolis has no rent cap, so rents can follow the market after turnover. Based on: data: underwriting.rent_rule · AI review
- Recent lead abatement and window work reduces near-term capital needs. Listing says: This property recently completed MPLS lead abatement program · AI review
Questions for the agent
- What are the current rents, lease types and end dates for each unit? Is either unit vacant?
- Is the lower unit owner-occupied now? Will it be delivered vacant?
- How old are the electrical panels and the furnaces? Is there one panel or two?
- Has the stone foundation been inspected or repaired? Any water in the basement?
- Why did the seller list 22 months after buying, and is the price negotiable?
- Do the rental license and lead documentation transfer with the sale?
Bottom line
A recently updated old duplex that cash flows modestly at $275K, so worth pursuing if the foundation and electrical inspection come back clean. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $4,694 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,448 |
| 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 1898: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-26 (101 days, relisted 1×); down $12,000 (4.2%) from the first ask of $287,000; last sold for $260,000 on 2024-11-12.
| Date | Event | Price |
|---|---|---|
| Listed | $275,000 | |
| Removed | $280,000 | |
| Removed | $289,900 | |
| Removed | $287,000 | |
| Sold public record | $260,000 | |
| Removed | $239,900 | |
| Removed | $249,900 | |
| Sold | $45,000 | |
| Price changed | $44,900 | |
| Price changed | $49,900 | |
| Listed | $59,900 | |
| Sold public record | $155,000 | |
| Sold public record | $105,500 | |
| Sold public record | $185,000 | |
| Sold public record | $27,500 | |
| Sold public record | $105,000 | |
| Sold public record | $60,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1898 |
| Market value (2026) | $247,200 |
| Property tax | $4,694 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-11-01 · $260,000 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 94, about 547 m away.
Crime in McKinley
145 incidents in the last 12 months (45 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).