3504 Cedar Ave S
Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 1,486 sq ft
Minneapolis, MN · Powderhorn Park · View the listing ↗
Photos courtesy of National Realty Guild - Broker, via Realtor.com.
- Asking price
- $280,000 2 units · $140K per unit
- Monthly cash flow
- −$252 at 20% down, 7%
- Estimated rent
- $2,650/mo medium confidence
- Break-even price
- $232,653 where cash flow hits $0
First look
This is a small Minneapolis duplex at $280K with no rents in the listing, and at the asking price our numbers don't work: about -$252/mo cash flow with 20% down and a 5.3% cap rate. Our estimates are roughly $1,150 for the 1-bed and $1,500 for the 2-bed, which is about $2,650 a month combined, and the break-even price is near $233K, so the ask is well above what the rents support. Nothing in the description covers heat, roof, or systems, so those are the first things to check. At 121 days on market it may be worth a showing, but only at a lower price. Get the actual rent roll, lease dates, and who pays heat before spending more time on it.
Things to consider
- Price is well above what the rents support At ask, cash flow is negative and the cap rate is about 5.3%. The break-even price is well below the listing, so this needs a sizable reduction to work.
- Rents and leases are unknown Without a rent roll you can't verify income. Our estimates are only a guide and tenant leases may be below market.Listing says: “Main level 1-BR apartment and upper level has 2 BR's.”
- Seller has big room to negotiate The seller bought for $33,500 in 2009 and the listing is 121 days old, so a low offer still leaves them a large gain.
- Investor tax bill may differ from what's shown The county shows non-homestead status and market value below the ask. Check taxes after a sale reassessment.
- Systems and building age are unverified The building dates to 1914 and the listing says nothing about the roof, wiring, plumbing or furnace. Big repairs would worsen already weak numbers.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
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
- $280,000
- Cash to close
- $36,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$596/mo
- Cash-on-cash
- −19.6%
- Cap rate
- 5.3%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $189,044
- Rent that breaks even
- $3,424/mo
Long run
- Year 30: property vs stocks
- $786K vs $521K
- Cash flow turns positive
- year 13
The deal
- Price
- $280,000
- Cash to close
- $36,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$820/mo
- Cash-on-cash
- −27.0%
- Cap rate
- 4.3%
- DSCR
- 0.55×
Break-even
- Price that breaks even
- $154,818
- Rent that breaks even
- $3,846/mo
Long run
- Year 30: property vs stocks
- $670K vs $753K
- Cash flow turns positive
- year 21
The deal
- Price
- $270,000
- Cash to close
- $35,100
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$530/mo
- Cash-on-cash
- −18.1%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $189,044
- Rent that breaks even
- $3,339/mo
Long run
- Year 30: property vs stocks
- $789K vs $468K
- Cash flow turns positive
- year 12
The deal
- Price
- $270,000
- Cash to close
- $35,100
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$754/mo
- Cash-on-cash
- −25.8%
- Cap rate
- 4.5%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $154,818
- Rent that breaks even
- $3,751/mo
Long run
- Year 30: property vs stocks
- $657K vs $685K
- Cash flow turns positive
- year 20
The deal
- Price
- $280,000
- Cash to close
- $64,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$252/mo
- Cash-on-cash
- −4.7%
- Cap rate
- 5.3%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $232,653
- Rent that breaks even
- $2,977/mo
Long run
- Year 30: property vs stocks
- $880K vs $568K
- Cash flow turns positive
- year 9
The deal
- Price
- $280,000
- Cash to close
- $64,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$476/mo
- Cash-on-cash
- −8.9%
- Cap rate
- 4.3%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $190,532
- Rent that breaks even
- $3,345/mo
Long run
- Year 30: property vs stocks
- $710K vs $747K
- Cash flow turns positive
- year 17
The deal
- Price
- $270,000
- Cash to close
- $62,100
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$199/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $232,653
- Rent that breaks even
- $2,908/mo
Long run
- Year 30: property vs stocks
- $892K vs $525K
- Cash flow turns positive
- year 7
The deal
- Price
- $270,000
- Cash to close
- $62,100
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$423/mo
- Cash-on-cash
- −8.2%
- Cap rate
- 4.5%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $190,532
- Rent that breaks even
- $3,267/mo
Long run
- Year 30: property vs stocks
- $703K vs $685K
- Cash flow turns positive
- year 15
The deal
- Price
- $280,000
- Cash to close
- $78,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$159/mo
- Cash-on-cash
- −2.4%
- Cap rate
- 5.3%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $248,164
- Rent that breaks even
- $2,856/mo
Long run
- Year 30: property vs stocks
- $943K vs $633K
- Cash flow turns positive
- year 6
The deal
- Price
- $280,000
- Cash to close
- $78,400
- Price per unit
- $140,000
- GRM
- 8.8
Each month
- Cash flow
- −$383/mo
- Cash-on-cash
- −5.9%
- Cap rate
- 4.3%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $203,234
- Rent that breaks even
- $3,209/mo
Long run
- Year 30: property vs stocks
- $740K vs $778K
- Cash flow turns positive
- year 14
The deal
- Price
- $270,000
- Cash to close
- $75,600
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$109/mo
- Cash-on-cash
- −1.7%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $248,164
- Rent that breaks even
- $2,792/mo
Long run
- Year 30: property vs stocks
- $960K vs $594K
- Cash flow turns positive
- year 5
The deal
- Price
- $270,000
- Cash to close
- $75,600
- Price per unit
- $135,000
- GRM
- 8.5
Each month
- Cash flow
- −$333/mo
- Cash-on-cash
- −5.3%
- Cap rate
- 4.5%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $203,234
- Rent that breaks even
- $3,136/mo
Long run
- Year 30: property vs stocks
- $737K vs $720K
- Cash flow turns positive
- year 13
Monthly
Monthly breakdown
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,677 |
| PMI | −$158 |
| Cash flow | −$596 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,677 |
| PMI | −$158 |
| Cash flow | −$820 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,617 |
| PMI | −$152 |
| Cash flow | −$530 |
| Principal paid down (equity, not cash) | $206 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,617 |
| PMI | −$152 |
| Cash flow | −$754 |
| Principal paid down (equity, not cash) | $206 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,490 |
| Cash flow | −$252 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,490 |
| Cash flow | −$476 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,437 |
| Cash flow | −$199 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,437 |
| Cash flow | −$423 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,397 |
| Cash flow | −$159 |
| Principal paid down (equity, not cash) | $178 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,397 |
| Cash flow | −$383 |
| Principal paid down (equity, not cash) | $178 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,238 |
| Mortgage (principal + interest) | −$1,347 |
| Cash flow | −$109 |
| Principal paid down (equity, not cash) | $171 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$373 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,014 |
| Mortgage (principal + interest) | −$1,347 |
| Cash flow | −$333 |
| Principal paid down (equity, not cash) | $171 |
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
- $638,855
- Rental profits, invested at 7%
- $147,319
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $252,000 of loan.
$98,903 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $277,086
- Monthly shortfalls, invested
- $244,219
$36,400 put into an index fund instead of the down payment and closing costs.
$42,047 you'd have paid in while the building lost money, invested instead.
The building comes out $264,869 ahead after 30 years.
- Your equity when you sell
- $638,855
- Rental profits, invested at 7%
- $30,786
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $252,000 of loan.
$25,379 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $277,086
- Monthly shortfalls, invested
- $476,413
$36,400 put into an index fund instead of the down payment and closing costs.
$96,514 you'd have paid in while the building lost money, invested instead.
Stocks come out $83,858 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $173,233
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $243,000 of loan.
$112,276 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $267,190
- Monthly shortfalls, invested
- $200,521
$35,100 put into an index fund instead of the down payment and closing costs.
$33,594 you'd have paid in while the building lost money, invested instead.
The building comes out $321,562 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $41,326
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $243,000 of loan.
$32,876 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $267,190
- Monthly shortfalls, invested
- $417,340
$35,100 put into an index fund instead of the down payment and closing costs.
$82,185 you'd have paid in while the building lost money, invested instead.
Stocks come out $27,166 ahead after 30 years.
- Your equity when you sell
- $638,855
- Rental profits, invested at 7%
- $240,713
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $224,000 of loan.
$143,945 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,229
- Monthly shortfalls, invested
- $77,721
$64,400 put into an index fund instead of the down payment and closing costs.
$12,466 you'd have paid in while the building lost money, invested instead.
The building comes out $311,617 ahead after 30 years.
- Your equity when you sell
- $638,855
- Rental profits, invested at 7%
- $71,003
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $224,000 of loan.
$52,167 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,229
- Monthly shortfalls, invested
- $256,738
$64,400 put into an index fund instead of the down payment and closing costs.
$48,680 you'd have paid in while the building lost money, invested instead.
Stocks come out $37,110 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $275,524
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $216,000 of loan.
$158,777 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $472,721
- Monthly shortfalls, invested
- $52,202
$62,100 put into an index fund instead of the down payment and closing costs.
$8,138 you'd have paid in while the building lost money, invested instead.
The building comes out $366,640 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $87,300
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $216,000 of loan.
$61,834 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $472,721
- Monthly shortfalls, invested
- $212,705
$62,100 put into an index fund instead of the down payment and closing costs.
$39,186 you'd have paid in while the building lost money, invested instead.
The building comes out $17,914 ahead after 30 years.
- Your equity when you sell
- $638,855
- Rental profits, invested at 7%
- $304,340
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $210,000 of loan.
$170,461 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $596,801
- Monthly shortfalls, invested
- $35,769
$78,400 put into an index fund instead of the down payment and closing costs.
$5,451 you'd have paid in while the building lost money, invested instead.
The building comes out $310,625 ahead after 30 years.
- Your equity when you sell
- $638,855
- Rental profits, invested at 7%
- $101,210
Sells for $679,633 (value up 3% a year), minus 6% selling cost ($40,778). Rent paid down $210,000 of loan.
$69,685 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $596,801
- Monthly shortfalls, invested
- $181,366
$78,400 put into an index fund instead of the down payment and closing costs.
$32,667 you'd have paid in while the building lost money, invested instead.
Stocks come out $38,102 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $344,087
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $202,500 of loan.
$185,776 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $575,486
- Monthly shortfalls, invested
- $18,956
$75,600 put into an index fund instead of the down payment and closing costs.
$2,803 you'd have paid in while the building lost money, invested instead.
The building comes out $365,684 ahead after 30 years.
- Your equity when you sell
- $616,039
- Rental profits, invested at 7%
- $120,820
Sells for $655,361 (value up 3% a year), minus 6% selling cost ($39,322). Rent paid down $202,500 of loan.
$80,226 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $575,486
- Monthly shortfalls, invested
- $144,416
$75,600 put into an index fund instead of the down payment and closing costs.
$25,245 you'd have paid in while the building lost money, invested instead.
The building comes out $16,957 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 $786K, stocks $521K. The property wins.
Year 30 (loan paid off): property $670K, stocks $753K. Stocks win.
Year 30 (loan paid off): property $789K, stocks $468K. The property wins.
Year 30 (loan paid off): property $657K, stocks $685K. Stocks win.
Year 30 (loan paid off): property $880K, stocks $568K. The property wins.
Year 30 (loan paid off): property $710K, stocks $747K. Stocks win.
Year 30 (loan paid off): property $892K, stocks $525K. The property wins.
Year 30 (loan paid off): property $703K, stocks $685K. The property wins.
Year 30 (loan paid off): property $943K, stocks $633K. The property wins.
Year 30 (loan paid off): property $740K, stocks $778K. Stocks win.
Year 30 (loan paid off): property $960K, stocks $594K. The property wins.
Year 30 (loan paid off): property $737K, stocks $720K. 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 $1,500/mo · range $1,350–$1,675
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3200 23rd Ave S, Unit 3202, Minneapolis 55407 off market | $1,245 | 2 / 1 | 0.6 mi | 96% |
| 1811 E 28th St, Minneapolis 55407 off market | $1,475 | 2 / 1 | 0.9 mi | 96% |
| 3505 18th Ave S, Minneapolis 55407 off market | $1,500 | 2 / 1 | 0.0 mi | 94% |
| 3029-3031 Chicago Ave S, Minneapolis 55407 off market | $1,575 | 2 / 1 | 0.9 mi | 93% |
| 3029 Chicago Ave S, Minneapolis 55407 off market | $1,575 | 2 / 1 | 0.9 mi | 93% |
| 3925 Chicago Ave S, Unit 3, Minneapolis 55407 off market | $1,450 | 2 / 1 | 0.9 mi | 92% |
| 3925 Chicago Ave, Apt 1, Minneapolis 55407 off market | $1,500 | 2 / 1 | 0.9 mi | 92% |
| 3108 Oakland Ave, Minneapolis 55407 off market | $1,550 | 2 / 1 | 1.0 mi | 92% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 1.1 mi | 92% |
| 2643 12th Ave S, Unit 1, Minneapolis 55407 | $1,785 | 2 / 1 | 1.1 mi | 92% |
1 bed / 1 bath estimate $1,150/mo · range $1,000–$1,275
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 3545 12th Ave S, Apt 5, Minneapolis 55407 off market | $1,100 | 1 / 1 | 0.5 mi | 93% |
| 3520 12th Ave S, Apt 5, Minneapolis 55407 off market | $1,065 | 1 / 1 | 0.5 mi | 93% |
| 3540 11th Ave S, Apt 5, Minneapolis 55407 off market | $1,065 | 1 / 1 | 0.6 mi | 93% |
| 3540 11th Ave S, Apt 9, Minneapolis 55407 off market | $1,100 | 1 / 1 | 0.6 mi | 93% |
| 3540 11th Ave S, Apt 2, Minneapolis 55407 off market | $1,100 | 1 / 1 | 0.6 mi | 93% |
| 3400 10th Ave S, Apt 4, Minneapolis 55407 off market | $1,100 | 1 / 1 | 0.6 mi | 93% |
| 3124 12th Ave S, Apt 106, Minneapolis 55407 off market | $1,095 | 1 / 1 | 0.7 mi | 93% |
| 3010 20th Ave S, Apt 4, Minneapolis 55407 off market | $1,000 | 1 / 1 | 0.6 mi | 93% |
| 3208 Minnehaha Ave, Apt 3, Minneapolis 55406 off market | $1,245 | 1 / 1 | 0.9 mi | 93% |
| 4224 Cedar Ave S, Minneapolis 55407 off market | $1,550 | 1 / 1 | 0.9 mi | 93% |
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
- highAsk is roughly $84K above our break-even price at 20% down Based on: data: underwriting.break_even_price · AI review
- mediumNo rents, lease status or occupancy given, so income can't be verified Listing says: Strong opportunity for both owner-occupants and investors. · AI review
- lowListing shows 3 beds / 2 baths but the units are described as 1 BR and 2 BR; confirm the bath count per unit Based on: data: listing.baths · AI review
Opportunities
- The seller bought for $33,500 in Jan 2009, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 0202824410200: last sale 2009-01-01, $33,500
- Long time on market: room to negotiate. Based on: Listing data: 124 days on market
- Each unit has its own laundry, which helps tenant appeal and may mean separate utility setups Listing says: Each unit has its own laundry and there are 3 off-street parking spaces. · AI review
- Three off-street spaces are a plus in this neighborhood and support rents Listing says: there are 3 off-street parking spaces · AI review
- Minneapolis has no rent cap, so rents can rise with the market after any refresh Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the current rents, lease end dates, and are any tenants month-to-month?
- Who pays heat, and are there separate furnaces and meters for each unit?
- How old are the roof, furnace, water heaters and electrical panel?
- Why has it sat 121 days, and have there been price cuts or offers?
- Is the owner-exempt rental license for two units current, and is the unit count legal?
- What does the owner's trailing-12 show for taxes, insurance and repairs?
Bottom line
A tidy-looking duplex that is priced above what the rents support, so it only works at a meaningful discount. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $4,478 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,389 |
| 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 1914: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-03 (124 days); down $19,000 (6.4%) from the first ask of $299,000; last sold for $33,500 on 2009-02-06.
| Date | Event | Price |
|---|---|---|
| Price changed | $280,000 | |
| Relisted | $299,000 | |
| Removed | — | |
| Listed | $299,000 | |
| Sold public record | $33,500 | |
| Removed | $47,000 | |
| Listed | $62,000 | |
| Sold public record | $209,000 | |
| Sold public record | $41,000 | |
| Sold public record | $38,000 | |
| Sold public record | $38,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1906 |
| Market value (2026) | $236,700 |
| Property tax | $4,478 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2009-01-01 · $33,500 |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
MN 55, about 1095 m away.
Crime in Powderhorn Park
524 incidents in the last 12 months (62 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).