3524 Lyndale Ave S
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,800 sq ft
Minneapolis, MN · South Uptown · View the listing ↗
Photos courtesy of Lakes Area Realty, via Realtor.com.
- Asking price
- $795,000 2 units · $398K per unit
- Monthly cash flow
- −$3,033 at 20% down, 7%
- Break-even price
- $225,141 where cash flow hits $0
First look
This is a nicely finished 1924 duplex, but the price is the problem. At $795K the underwriting shows about -$3,033 a month and a 1.8% cap rate, and our rent estimate is only $1,700 per 2-bed unit. The county values it at $641,600 and the seller paid $509,000 in 2019, so the ask sits well above both. The listing gives no rents and the description is all finish and charm, so ask for a rent roll and the list of work done before going further. It's worth a showing only if you want to see the quality, and 176 days on market suggests the seller needs to come down a lot.
Things to consider
- Price is far beyond what the rents support The asking price is about $570K above the break-even price, and the deal loses about $3,033 a month. No renovation quality closes that gap.
- Seller's purchase price and county value are well below the ask They bought at $509K in 2019 and the county values it at $641.6K. The ask reflects renovation costs and a hoped-for premium, not what rents support.
- Rents are unstated, so income is unverified Our estimate is $1,700 a unit, which may be low for the finish. Verify what tenants actually pay before trusting any number.
- Property taxes are heavy at the non-homestead rate The $12,184 bill takes a large share of rent income and could be reassessed higher after the renovation.
- Long time on market gives room to negotiate At 176 days the seller likely has less leverage than the ask suggests, so you may be able to bid far lower.
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
- neededWood-burning fireplaces need cleaning and inspectionListing says: wood-burning fireplaces (need to be cleaned & inspected)
- doneNew boilers and water heatersListing says: new boilers & water heaters
- doneRefinished hardwood floors and new stainless appliancesListing says: Fully refinished hardwood floors, all new stainless steel appliances
- doneFull restoration and renovationListing says: Meticulously, fully restored & renovated Mediterranean style 1924 duplex
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
- $795,000
- Cash to close
- $103,350
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$4,009/mo
- Cash-on-cash
- −46.6%
- Cap rate
- 1.8%
- DSCR
- 0.23×
Break-even
- Price that breaks even
- $182,940
- Rent that breaks even
- $8,540/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $4.59M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $795,000
- Cash to close
- $103,350
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$4,297/mo
- Cash-on-cash
- −49.9%
- Cap rate
- 1.4%
- DSCR
- 0.17×
Break-even
- Price that breaks even
- $139,027
- Rent that breaks even
- $9,579/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $5.04M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $102,050
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$3,944/mo
- Cash-on-cash
- −46.4%
- Cap rate
- 1.8%
- DSCR
- 0.23×
Break-even
- Price that breaks even
- $182,940
- Rent that breaks even
- $8,456/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.51M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $102,050
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$4,231/mo
- Cash-on-cash
- −49.8%
- Cap rate
- 1.4%
- DSCR
- 0.18×
Break-even
- Price that breaks even
- $139,027
- Rent that breaks even
- $9,485/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.96M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $795,000
- Cash to close
- $182,850
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$3,033/mo
- Cash-on-cash
- −19.9%
- Cap rate
- 1.8%
- DSCR
- 0.28×
Break-even
- Price that breaks even
- $225,141
- Rent that breaks even
- $7,288/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $4.46M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $795,000
- Cash to close
- $182,850
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$3,321/mo
- Cash-on-cash
- −21.8%
- Cap rate
- 1.4%
- DSCR
- 0.22×
Break-even
- Price that breaks even
- $171,098
- Rent that breaks even
- $8,175/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $4.91M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $180,550
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$2,980/mo
- Cash-on-cash
- −19.8%
- Cap rate
- 1.8%
- DSCR
- 0.29×
Break-even
- Price that breaks even
- $225,141
- Rent that breaks even
- $7,220/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.38M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $180,550
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$3,267/mo
- Cash-on-cash
- −21.7%
- Cap rate
- 1.4%
- DSCR
- 0.22×
Break-even
- Price that breaks even
- $171,098
- Rent that breaks even
- $8,099/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.83M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $795,000
- Cash to close
- $222,600
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$2,769/mo
- Cash-on-cash
- −14.9%
- Cap rate
- 1.8%
- DSCR
- 0.30×
Break-even
- Price that breaks even
- $240,150
- Rent that breaks even
- $6,949/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $4.46M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $795,000
- Cash to close
- $222,600
- Price per unit
- $397,500
- GRM
- 19.5
Each month
- Cash flow
- −$3,056/mo
- Cash-on-cash
- −16.5%
- Cap rate
- 1.4%
- DSCR
- 0.23×
Break-even
- Price that breaks even
- $182,504
- Rent that breaks even
- $7,795/mo
Long run
- Year 30: property vs stocks
- $1.81M vs $4.91M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $219,800
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$2,719/mo
- Cash-on-cash
- −14.8%
- Cap rate
- 1.8%
- DSCR
- 0.31×
Break-even
- Price that breaks even
- $240,150
- Rent that breaks even
- $6,885/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.38M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $785,000
- Cash to close
- $219,800
- Price per unit
- $392,500
- GRM
- 19.2
Each month
- Cash flow
- −$3,006/mo
- Cash-on-cash
- −16.4%
- Cap rate
- 1.4%
- DSCR
- 0.23×
Break-even
- Price that breaks even
- $182,504
- Rent that breaks even
- $7,723/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $4.83M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$4,760 |
| PMI | −$447 |
| Cash flow | −$4,009 |
| Principal paid down (equity, not cash) | $606 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$4,760 |
| PMI | −$447 |
| Cash flow | −$4,297 |
| Principal paid down (equity, not cash) | $606 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$4,700 |
| PMI | −$442 |
| Cash flow | −$3,944 |
| Principal paid down (equity, not cash) | $598 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$4,700 |
| PMI | −$442 |
| Cash flow | −$4,231 |
| Principal paid down (equity, not cash) | $598 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$4,231 |
| Cash flow | −$3,033 |
| Principal paid down (equity, not cash) | $538 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$4,231 |
| Cash flow | −$3,321 |
| Principal paid down (equity, not cash) | $538 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$4,178 |
| Cash flow | −$2,980 |
| Principal paid down (equity, not cash) | $532 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$4,178 |
| Cash flow | −$3,267 |
| Principal paid down (equity, not cash) | $532 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$3,967 |
| Cash flow | −$2,769 |
| Principal paid down (equity, not cash) | $505 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$3,967 |
| Cash flow | −$3,056 |
| Principal paid down (equity, not cash) | $505 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Net operating income | $1,198 |
| Mortgage (principal + interest) | −$3,917 |
| Cash flow | −$2,719 |
| Principal paid down (equity, not cash) | $498 |
| Rent | $3,400 |
| Vacancy (6%) | −$204 |
| Collected | $3,196 |
| Property tax Public record | −$1,015 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$272 |
| Capital reserve (8% of rent) | −$272 |
| Property management | −$288 |
| Net operating income | $911 |
| Mortgage (principal + interest) | −$3,917 |
| Cash flow | −$3,006 |
| Principal paid down (equity, not cash) | $498 |
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
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $715,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $786,727
- Monthly shortfalls, invested
- $3,804,162
$103,350 put into an index fund instead of the down payment and closing costs.
$1,121,641 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,776,995 ahead after 30 years.
- Your equity when you sell
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $715,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $786,727
- Monthly shortfalls, invested
- $4,251,585
$103,350 put into an index fund instead of the down payment and closing costs.
$1,285,856 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,224,418 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $706,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $776,831
- Monthly shortfalls, invested
- $3,734,548
$102,050 put into an index fund instead of the down payment and closing costs.
$1,099,815 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,720,302 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $706,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $776,831
- Monthly shortfalls, invested
- $4,181,972
$102,050 put into an index fund instead of the down payment and closing costs.
$1,264,030 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,167,725 ahead after 30 years.
- Your equity when you sell
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $636,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,391,901
- Monthly shortfalls, invested
- $3,066,255
$182,850 put into an index fund instead of the down payment and closing costs.
$909,766 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,644,263 ahead after 30 years.
- Your equity when you sell
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $636,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,391,901
- Monthly shortfalls, invested
- $3,513,679
$182,850 put into an index fund instead of the down payment and closing costs.
$1,073,981 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,091,686 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $628,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,374,393
- Monthly shortfalls, invested
- $3,005,924
$180,550 put into an index fund instead of the down payment and closing costs.
$890,606 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,589,240 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $628,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,374,393
- Monthly shortfalls, invested
- $3,453,347
$180,550 put into an index fund instead of the down payment and closing costs.
$1,054,821 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,036,663 ahead after 30 years.
- Your equity when you sell
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $596,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,694,488
- Monthly shortfalls, invested
- $2,766,485
$222,600 put into an index fund instead of the down payment and closing costs.
$814,562 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,647,079 ahead after 30 years.
- Your equity when you sell
- $1,813,894
- Rental profits, invested at 7%
- $0
Sells for $1,929,674 (value up 3% a year), minus 6% selling cost ($115,780). Rent paid down $596,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,694,488
- Monthly shortfalls, invested
- $3,213,908
$222,600 put into an index fund instead of the down payment and closing costs.
$978,777 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,094,503 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $588,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,673,174
- Monthly shortfalls, invested
- $2,709,924
$219,800 put into an index fund instead of the down payment and closing costs.
$796,598 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,592,021 ahead after 30 years.
- Your equity when you sell
- $1,791,077
- Rental profits, invested at 7%
- $0
Sells for $1,905,401 (value up 3% a year), minus 6% selling cost ($114,324). Rent paid down $588,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,673,174
- Monthly shortfalls, invested
- $3,157,347
$219,800 put into an index fund instead of the down payment and closing costs.
$960,813 you'd have paid in while the building lost money, invested instead.
Stocks come out $3,039,444 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 $1.81M, stocks $4.59M. Stocks win.
Year 30 (loan paid off): property $1.81M, stocks $5.04M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.51M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.96M. Stocks win.
Year 30 (loan paid off): property $1.81M, stocks $4.46M. Stocks win.
Year 30 (loan paid off): property $1.81M, stocks $4.91M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.38M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.83M. Stocks win.
Year 30 (loan paid off): property $1.81M, stocks $4.46M. Stocks win.
Year 30 (loan paid off): property $1.81M, stocks $4.91M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.38M. Stocks win.
Year 30 (loan paid off): property $1.79M, stocks $4.83M. Stocks win.
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 $1,700/mo · range $1,450–$1,800 · 18 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3520 Grand Ave S, Minneapolis | $1,225 | 2 / 1 | 0.2 mi |
| 3509 Emerson Ave S, Minneapolis | $1,399 | 2 / 1 | 0.3 mi |
| 3700 Grand Ave S, Minneapolis | $1,275 | 2 / 1 | 0.3 mi |
| 3305 Bryant Ave S, Minneapolis | $1,375 | 2 / 1 | 0.3 mi |
| 3452 Emerson Ave S, Minneapolis | $1,349 | 2 / 1 | 0.3 mi |
| 3247 Lyndale Ave S, Minneapolis | $1,315 | 2 / 1 | 0.3 mi |
| 3721 Grand Ave S Unit 1, Minneapolis | $1,600 | 2 / 1 | 0.3 mi |
| 3721 Grand Ave S Unit 2, Minneapolis | $1,600 | 2 / 1 | 0.3 mi |
| 3648 Blaisdell Ave Apt 2, Minneapolis | $1,595 | 2 / — | 0.4 mi |
| 3329 Nicollet Ave, Minneapolis | $1,675 | 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
- highPrice far above county value and the rents these units can support Based on: data: county.market_value · AI review
- mediumAsking is $569,859 above the price where cash flow breaks even ($225,141) at the default scenario. Based on: Derived: price $795,000 vs. break-even $225,141
- mediumRenovation scope and permits are unverified; the work list is only promised later Listing says: A list of work done will be included in supplements. · AI review
- mediumHeat type is hot water, likely a shared boiler system. Owner may end up paying heat Based on: data: county.heat_type · AI review
- lowSun den is counted separately from the bedrooms; do not treat it as a third bedroom for rent Listing says: Each unit has 2 bedrooms & a SW sunny den. · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 179 days on market
- Heavily renovated, so little near-term capex and strong appeal to tenants Listing says: new boilers & water heaters · AI review
- In-unit washer and dryer supports higher rent Listing says: each has their own new stainless LG steam washer & dryer · AI review
- 3-car garage can be rented separately for extra income Listing says: There is a 3 car garage & an extra parking spot in the driveway. · AI review
- Minneapolis has no rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- What are the current rents, lease terms and security deposits? Are both units occupied?
- Can I see the list of work done, with permits and dates for the boilers and water heaters?
- Who pays heat and water, and are there separate boilers and meters per unit?
- What is the electrical panel and wiring situation after the renovation?
- Has the price been cut, and what has the seller turned down in 176 days?
- How is the garage used, and could it be rented separately?
Bottom line
Beautiful renovation, but at $795K it loses thousands a month at our rents, so it only works at a far lower price. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $12,184 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,500 |
| 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 2026-04-09 (179 days); down $54,000 (6.4%) from the first ask of $849,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $795,000 | |
| Listed | $849,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1924 |
| Market value (2026) | $641,600 |
| Property tax | $12,184 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2019-10-01 · $509,000 |
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 1089 m away.
Crime in South Uptown
337 incidents in the last 12 months (57 per 1,000 residents), −13% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).