3428 Hennepin Ave S
Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 2,700 sq ft
Minneapolis, MN · East Bde Maka Ska · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $625,000 2 units · $312K per unit
- Monthly cash flow
- −$1,624 at 20% down, 7%
- Estimated rent
- $3,800/mo medium confidence
- Break-even price
- $319,952 where cash flow hits $0
First look
This is a nice-looking 1928 Tudor duplex near Bde Maka Ska, but at $625K it does not work as a rental. Our rent estimates are about $1,900 per unit, and the underwriting shows roughly -$1,624 a month and a 3.3% cap rate. It reads like an owner-occupant listing: the description says it makes an excellent owner occupied duplex, and the tax is on a homestead basis, so your tax bill as an investor will likely be higher. Roof replaced in 2023 is a real plus, and the photos show well-kept woodwork and hardwoods. Before a showing, get actual rents and leases, confirm the rental license situation, and decide if you are buying to live in it, because the rental numbers alone don't support the price.
Things to consider
- Price far above what the rents support At our estimated rents, the underwriting shows deep negative cash flow. It only works if you live in one unit and accept a large monthly carrying cost.
- Rents and leases are unknown The listing gives no rent roll. Our estimates are about $1,900 per unit, but actual rents could differ, and that drives everything.
- Rental license is missing in city records An unlicensed rental can limit your ability to collect rent or force costly inspections and repairs.
- Taxes and assessments will hit harder for an investor The current bill is a homestead rate with assessments on top, so expect a higher non-homestead bill.
- Roof is new, but other systems are unverified The 2023 roof is a plus, yet boiler, wiring and plumbing are not described, and old Tudors can hide costly updates.Listing says: “Roof replaced in 2023.”
- Extra unit potential is speculative Adding a unit requires permits, code compliance and licensing, so don't count on it in your numbers.Listing says: “Egress window in lower level sets the stage for additional potential unit”
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
- doneRoof replacedListing says: Roof replaced in 2023.
- doneNew LVT flooring in kitchensListing says: new LVT in kitchens
- doneUpdated upper unit bathroomListing says: updated upper unit bathroom
- doneLandscaping, brick paver parking, sprinkler system, deck and screened porchListing says: thoughtful updates to landscaping with brick paver parking area, brick paver sidewalk, sprinkler system, deck and a screened in porch
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
- $625,000
- Cash to close
- $81,250
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$2,391/mo
- Cash-on-cash
- −35.3%
- Cap rate
- 3.3%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $259,978
- Rent that breaks even
- $6,865/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.44M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $625,000
- Cash to close
- $81,250
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$2,712/mo
- Cash-on-cash
- −40.1%
- Cap rate
- 2.7%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $210,899
- Rent that breaks even
- $7,701/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.94M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $615,000
- Cash to close
- $79,950
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$2,325/mo
- Cash-on-cash
- −34.9%
- Cap rate
- 3.3%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $259,978
- Rent that breaks even
- $6,781/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $2.36M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $615,000
- Cash to close
- $79,950
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$2,647/mo
- Cash-on-cash
- −39.7%
- Cap rate
- 2.7%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $210,899
- Rent that breaks even
- $7,606/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $2.86M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $625,000
- Cash to close
- $143,750
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,624/mo
- Cash-on-cash
- −13.6%
- Cap rate
- 3.3%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $319,952
- Rent that breaks even
- $5,882/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.34M
- Cash flow turns positive
- year 28
The deal
- Price
- $625,000
- Cash to close
- $143,750
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,945/mo
- Cash-on-cash
- −16.2%
- Cap rate
- 2.7%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $259,550
- Rent that breaks even
- $6,597/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.83M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $615,000
- Cash to close
- $141,450
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,570/mo
- Cash-on-cash
- −13.3%
- Cap rate
- 3.3%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $319,952
- Rent that breaks even
- $5,813/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $2.26M
- Cash flow turns positive
- year 27
The deal
- Price
- $615,000
- Cash to close
- $141,450
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,892/mo
- Cash-on-cash
- −16.0%
- Cap rate
- 2.7%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $259,550
- Rent that breaks even
- $6,521/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $2.75M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $625,000
- Cash to close
- $175,000
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,416/mo
- Cash-on-cash
- −9.7%
- Cap rate
- 3.3%
- DSCR
- 0.55×
Break-even
- Price that breaks even
- $341,282
- Rent that breaks even
- $5,615/mo
Long run
- Year 30: property vs stocks
- $1.44M vs $2.35M
- Cash flow turns positive
- year 25
The deal
- Price
- $625,000
- Cash to close
- $175,000
- Price per unit
- $312,500
- GRM
- 13.7
Each month
- Cash flow
- −$1,737/mo
- Cash-on-cash
- −11.9%
- Cap rate
- 2.7%
- DSCR
- 0.44×
Break-even
- Price that breaks even
- $276,854
- Rent that breaks even
- $6,298/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.83M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $615,000
- Cash to close
- $172,200
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,366/mo
- Cash-on-cash
- −9.5%
- Cap rate
- 3.3%
- DSCR
- 0.55×
Break-even
- Price that breaks even
- $341,282
- Rent that breaks even
- $5,551/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $2.28M
- Cash flow turns positive
- year 25
The deal
- Price
- $615,000
- Cash to close
- $172,200
- Price per unit
- $307,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,687/mo
- Cash-on-cash
- −11.8%
- Cap rate
- 2.7%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $276,854
- Rent that breaks even
- $6,226/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $2.76M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,742 |
| PMI | −$352 |
| Cash flow | −$2,391 |
| Principal paid down (equity, not cash) | $476 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,742 |
| PMI | −$352 |
| Cash flow | −$2,712 |
| Principal paid down (equity, not cash) | $476 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,682 |
| PMI | −$346 |
| Cash flow | −$2,325 |
| Principal paid down (equity, not cash) | $469 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,682 |
| PMI | −$346 |
| Cash flow | −$2,647 |
| Principal paid down (equity, not cash) | $469 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,327 |
| Cash flow | −$1,624 |
| Principal paid down (equity, not cash) | $423 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,327 |
| Cash flow | −$1,945 |
| Principal paid down (equity, not cash) | $423 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,273 |
| Cash flow | −$1,570 |
| Principal paid down (equity, not cash) | $416 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,273 |
| Cash flow | −$1,892 |
| Principal paid down (equity, not cash) | $416 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,119 |
| Cash flow | −$1,416 |
| Principal paid down (equity, not cash) | $397 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,119 |
| Cash flow | −$1,737 |
| Principal paid down (equity, not cash) | $397 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Net operating income | $1,703 |
| Mortgage (principal + interest) | −$3,069 |
| Cash flow | −$1,366 |
| Principal paid down (equity, not cash) | $390 |
| Rent | $3,800 |
| Vacancy (6%) | −$228 |
| Collected | $3,572 |
| Property tax Listing | −$825 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$304 |
| Capital reserve (8% of rent) | −$304 |
| Property management | −$321 |
| Net operating income | $1,381 |
| Mortgage (principal + interest) | −$3,069 |
| Cash flow | −$1,687 |
| Principal paid down (equity, not cash) | $390 |
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
- $1,426,017
- Rental profits, invested at 7%
- $0
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $562,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $618,496
- Monthly shortfalls, invested
- $1,818,064
$81,250 put into an index fund instead of the down payment and closing costs.
$453,156 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,010,542 ahead after 30 years.
- Your equity when you sell
- $1,426,017
- Rental profits, invested at 7%
- $0
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $562,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $618,496
- Monthly shortfalls, invested
- $2,318,125
$81,250 put into an index fund instead of the down payment and closing costs.
$636,691 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,510,604 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $0
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $553,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $608,600
- Monthly shortfalls, invested
- $1,748,451
$79,950 put into an index fund instead of the down payment and closing costs.
$431,330 you'd have paid in while the building lost money, invested instead.
Stocks come out $953,850 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $0
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $553,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $608,600
- Monthly shortfalls, invested
- $2,248,512
$79,950 put into an index fund instead of the down payment and closing costs.
$614,865 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,453,912 ahead after 30 years.
- Your equity when you sell
- $1,426,017
- Rental profits, invested at 7%
- $5,687
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $500,000 of loan.
$5,448 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,094,262
- Monthly shortfalls, invested
- $1,243,636
$143,750 put into an index fund instead of the down payment and closing costs.
$292,036 you'd have paid in while the building lost money, invested instead.
Stocks come out $906,193 ahead after 30 years.
- Your equity when you sell
- $1,426,017
- Rental profits, invested at 7%
- $0
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $500,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,094,262
- Monthly shortfalls, invested
- $1,738,010
$143,750 put into an index fund instead of the down payment and closing costs.
$470,123 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,406,255 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $8,244
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $492,000 of loan.
$7,775 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,076,753
- Monthly shortfalls, invested
- $1,185,862
$141,450 put into an index fund instead of the down payment and closing costs.
$275,203 you'd have paid in while the building lost money, invested instead.
Stocks come out $851,170 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $0
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $492,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,076,753
- Monthly shortfalls, invested
- $1,677,679
$141,450 put into an index fund instead of the down payment and closing costs.
$450,962 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,351,232 ahead after 30 years.
- Your equity when you sell
- $1,426,017
- Rental profits, invested at 7%
- $18,627
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $468,750 of loan.
$16,811 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,332,145
- Monthly shortfalls, invested
- $1,020,907
$175,000 put into an index fund instead of the down payment and closing costs.
$228,552 you'd have paid in while the building lost money, invested instead.
Stocks come out $908,408 ahead after 30 years.
- Your equity when you sell
- $1,426,017
- Rental profits, invested at 7%
- $0
Sells for $1,517,039 (value up 3% a year), minus 6% selling cost ($91,022). Rent paid down $468,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,332,145
- Monthly shortfalls, invested
- $1,502,341
$175,000 put into an index fund instead of the down payment and closing costs.
$395,276 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,408,469 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $22,910
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $461,250 of loan.
$20,403 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,310,830
- Monthly shortfalls, invested
- $968,630
$172,200 put into an index fund instead of the down payment and closing costs.
$214,182 you'd have paid in while the building lost money, invested instead.
Stocks come out $853,349 ahead after 30 years.
- Your equity when you sell
- $1,403,200
- Rental profits, invested at 7%
- $0
Sells for $1,492,766 (value up 3% a year), minus 6% selling cost ($89,566). Rent paid down $461,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,310,830
- Monthly shortfalls, invested
- $1,445,781
$172,200 put into an index fund instead of the down payment and closing costs.
$377,313 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,353,411 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 $1.43M, stocks $2.44M. Stocks win.
Year 30 (loan paid off): property $1.43M, stocks $2.94M. Stocks win.
Year 30 (loan paid off): property $1.40M, stocks $2.36M. Stocks win.
Year 30 (loan paid off): property $1.40M, stocks $2.86M. Stocks win.
Year 30 (loan paid off): property $1.43M, stocks $2.34M. Stocks win.
Year 30 (loan paid off): property $1.43M, stocks $2.83M. Stocks win.
Year 30 (loan paid off): property $1.41M, stocks $2.26M. Stocks win.
Year 30 (loan paid off): property $1.40M, stocks $2.75M. Stocks win.
Year 30 (loan paid off): property $1.44M, stocks $2.35M. Stocks win.
Year 30 (loan paid off): property $1.43M, stocks $2.83M. Stocks win.
Year 30 (loan paid off): property $1.43M, stocks $2.28M. Stocks win.
Year 30 (loan paid off): property $1.40M, stocks $2.76M. Stocks win.
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 / 1.5 bath estimate $1,900/mo · range $1,700–$2,125
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3523 Hennepin Ave S, Minneapolis 55408 off market | $1,195 | 2 / 1 | 0.1 mi | 91% |
| 3351 Dupont Ave S, Minneapolis 55408 off market | $1,895 | 2 / 1 | 0.3 mi | 91% |
| 3350 Colfax Ave S, Minneapolis 55408 off market | $1,595 | 2 / 1 | 0.3 mi | 91% |
| 3126 Emerson Ave S, Minneapolis 55408 off market | $1,720 | 2 / 1 | 0.4 mi | 91% |
| 3024 Dupont Ave S, Minneapolis 55408 off market | $1,699 | 2 / 1 | 0.6 mi | 91% |
| 3016 Dupont Ave S, Unit 1, Minneapolis 55408 off market | $1,975 | 2 / 1 | 0.6 mi | 91% |
| 3125 Aldrich Ave S, Apt 4, Minneapolis 55408 off market | $1,600 | 2 / 1 | 0.6 mi | 91% |
| 3101 E Bde Maka Ska Pkwy, Minneapolis 55408 off market | $1,995 | 2 / 1.5 | 0.5 mi | 86% |
| 3620 Lyndale Ave S, Minneapolis 55409 off market | $1,995 | 2 / 1 | 0.5 mi | 86% |
| 3103 Irving Ave S, Minneapolis 55408 off market | $1,695 | 2 / 1 | 0.4 mi | 85% |
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
- highOwner-occupant pitch; no rent roll, no rents or lease info given Listing says: This unit makes an excellent owner occupied duplex and prime location rental property. · AI review
- 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 3428 HENNEPIN AVE
- mediumAsking is $305,048 above the price where cash flow breaks even ($319,952) at the default scenario. Based on: Derived: price $625,000 vs. break-even $319,952
- mediumHomestead tax of $8,906 will likely rise on a non-homestead basis for an investor Based on: data: county.homestead · AI review
- mediumLower-level extra unit is only potential; egress alone doesn't make it legal or licensed Listing says: Egress window in lower level sets the stage for additional potential unit, interior dwelling unit · AI review
- low$893 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 0402824310018: special assessments (current) = $892.59
- lowHot-water heat, likely one boiler, so the owner may pay heat Based on: data: county.heat_type · AI review
Opportunities
- Roof was replaced in 2023, lowering near-term big-ticket risk Listing says: Roof replaced in 2023. · AI review
- Minneapolis has no rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
- Lower level could add space or a unit if it can be made legal Listing says: Egress window in lower level sets the stage for additional potential unit · AI review
- Well-kept original woodwork and hardwoods support rent appeal Based on: photo 5 · AI review
Questions for the agent
- What are the current rents, lease terms, and who lives in each unit?
- Is the building licensed as a rental, and when was it last inspected?
- Who pays heat, and is it one boiler or separate systems?
- What are the $893 in special assessments for, and are they paid at closing?
- How old are the boiler, water heater, electrical panels and wiring?
- Has the lower level been permitted or inspected for an added unit?
Bottom line
Pretty, well-kept duplex, but at $625K the rents don't come close to covering costs, so it only makes sense as an owner-occupant purchase. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2026. 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. | $9,898 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,475 |
| 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 rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-09-30 (5 days); last sold for $488,000 on 2006-10-23.
| Date | Event | Price |
|---|---|---|
| Listed | $625,000 | |
| Sold public record | $488,000 | |
| Sold public record | $115,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1928 |
| Market value (2026) | $563,200 |
| Property tax | $8,906 |
| Special assessments | $893 |
| Homestead | no |
| Last sale | 2006-10-01 · $488,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 35W, about 1883 m away.
Crime in East Bde Maka Ska
142 incidents in the last 12 months (54 per 1,000 residents), −7% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).