3544 Stevens Ave
Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 2,180 sq ft
Minneapolis, MN · Lyndale · View the listing ↗
Photos courtesy of Bridge Realty, via Realtor.com.
- Asking price
- $296,000 2 units · $148K per unit
- Monthly cash flow
- −$423 at 20% down, 7%
- Break-even price
- $216,545 where cash flow hits $0
First look
This is a 1908 Minneapolis duplex that looks like a dated owner-occupied house, not a rental, and the numbers don't work at $296K. Our underwriting shows about -$442/month cash flow and a 4.6% cap rate, and break-even is near $213K. The photos show original kitchens, peeling plaster in the dining room and radiator heat, so budget for a real rehab on top of the price. The 'potential 3rd unit' in the attic is a pitch, not income, and it would need permits and egress. Check the rental license status, what is behind the peeling walls, and whether the seller will come down hard before you spend time on a showing.
Things to consider
- Price is far above what the income supports Our estimate shows negative cash flow and a break-even price about $83K below asking. Any offer needs to account for that gap plus rehab.
- No rental records or license Without a rental license you may face inspection and compliance costs before you can legally rent. There is no rent history to rely on.Listing says: “In trust with no rental records.”
- Rehab budget is likely substantial Dated kitchens and damaged plaster mean you won't get estimate-level rents without spending money first.From photo 8
- Seller has a very low basis and is a trust A 1989 purchase at $14,900 means the seller can accept a much lower offer and still profit.
- Highway noise near I-35W Traffic noise can depress rents and may limit tenant quality.
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
- doneNew boilerListing says: new boiler, new water heater
- doneNew water heaterListing says: new boiler, new water heater
- doneNewer storm windows and maintenance-free sidingListing says: Maintenance free siding and newer storm windows
- doneSewer lines cleaned and approvedListing says: Sewer lines have been cleaned and approved.
- neededUpdating and turnover neededListing says: Priced well below market for updating and turnover.
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
- $296,000
- Cash to close
- $38,480
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$786/mo
- Cash-on-cash
- −24.5%
- Cap rate
- 4.7%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $175,955
- Rent that breaks even
- $3,596/mo
Long run
- Year 30: property vs stocks
- $740K vs $702K
- Cash flow turns positive
- year 18
The deal
- Price
- $296,000
- Cash to close
- $38,480
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$1,004/mo
- Cash-on-cash
- −31.3%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $142,697
- Rent that breaks even
- $4,040/mo
Long run
- Year 30: property vs stocks
- $679K vs $979K
- Cash flow turns positive
- year 27
The deal
- Price
- $286,000
- Cash to close
- $37,180
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$721/mo
- Cash-on-cash
- −23.3%
- Cap rate
- 4.8%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $175,955
- Rent that breaks even
- $3,511/mo
Long run
- Year 30: property vs stocks
- $733K vs $638K
- Cash flow turns positive
- year 17
The deal
- Price
- $286,000
- Cash to close
- $37,180
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$939/mo
- Cash-on-cash
- −30.3%
- Cap rate
- 3.9%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $142,697
- Rent that breaks even
- $3,945/mo
Long run
- Year 30: property vs stocks
- $660K vs $903K
- Cash flow turns positive
- year 26
The deal
- Price
- $296,000
- Cash to close
- $68,080
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$423/mo
- Cash-on-cash
- −7.5%
- Cap rate
- 4.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $216,545
- Rent that breaks even
- $3,124/mo
Long run
- Year 30: property vs stocks
- $801K vs $713K
- Cash flow turns positive
- year 14
The deal
- Price
- $296,000
- Cash to close
- $68,080
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$641/mo
- Cash-on-cash
- −11.3%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $175,615
- Rent that breaks even
- $3,510/mo
Long run
- Year 30: property vs stocks
- $696K vs $947K
- Cash flow turns positive
- year 23
The deal
- Price
- $286,000
- Cash to close
- $65,780
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$370/mo
- Cash-on-cash
- −6.7%
- Cap rate
- 4.8%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $216,545
- Rent that breaks even
- $3,055/mo
Long run
- Year 30: property vs stocks
- $800K vs $657K
- Cash flow turns positive
- year 12
The deal
- Price
- $286,000
- Cash to close
- $65,780
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$588/mo
- Cash-on-cash
- −10.7%
- Cap rate
- 3.9%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $175,615
- Rent that breaks even
- $3,432/mo
Long run
- Year 30: property vs stocks
- $681K vs $877K
- Cash flow turns positive
- year 21
The deal
- Price
- $296,000
- Cash to close
- $82,880
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$324/mo
- Cash-on-cash
- −4.7%
- Cap rate
- 4.7%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $230,981
- Rent that breaks even
- $2,996/mo
Long run
- Year 30: property vs stocks
- $844K vs $757K
- Cash flow turns positive
- year 11
The deal
- Price
- $296,000
- Cash to close
- $82,880
- Price per unit
- $148,000
- GRM
- 9.6
Each month
- Cash flow
- −$542/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $187,323
- Rent that breaks even
- $3,366/mo
Long run
- Year 30: property vs stocks
- $712K vs $964K
- Cash flow turns positive
- year 20
The deal
- Price
- $286,000
- Cash to close
- $80,080
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$275/mo
- Cash-on-cash
- −4.1%
- Cap rate
- 4.8%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $230,981
- Rent that breaks even
- $2,932/mo
Long run
- Year 30: property vs stocks
- $847K vs $705K
- Cash flow turns positive
- year 10
The deal
- Price
- $286,000
- Cash to close
- $80,080
- Price per unit
- $143,000
- GRM
- 9.3
Each month
- Cash flow
- −$492/mo
- Cash-on-cash
- −7.4%
- Cap rate
- 3.9%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $187,323
- Rent that breaks even
- $3,293/mo
Long run
- Year 30: property vs stocks
- $699K vs $897K
- Cash flow turns positive
- year 18
Monthly
Monthly breakdown
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,772 |
| PMI | −$166 |
| Cash flow | −$786 |
| Principal paid down (equity, not cash) | $226 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,772 |
| PMI | −$166 |
| Cash flow | −$1,004 |
| Principal paid down (equity, not cash) | $226 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,712 |
| PMI | −$161 |
| Cash flow | −$721 |
| Principal paid down (equity, not cash) | $218 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,712 |
| PMI | −$161 |
| Cash flow | −$939 |
| Principal paid down (equity, not cash) | $218 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,575 |
| Cash flow | −$423 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,575 |
| Cash flow | −$641 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | −$370 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | −$588 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,477 |
| Cash flow | −$324 |
| Principal paid down (equity, not cash) | $188 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,477 |
| Cash flow | −$542 |
| Principal paid down (equity, not cash) | $188 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Net operating income | $1,153 |
| Mortgage (principal + interest) | −$1,427 |
| Cash flow | −$275 |
| Principal paid down (equity, not cash) | $182 |
| Rent | $2,575 |
| Vacancy (6%) | −$154 |
| Collected | $2,420 |
| Property tax Listing | −$385 |
| Insurance Estimate | −$215 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$206 |
| Capital reserve (9% of rent) | −$232 |
| Property management | −$218 |
| Net operating income | $935 |
| Mortgage (principal + interest) | −$1,427 |
| Cash flow | −$492 |
| Principal paid down (equity, not cash) | $182 |
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
- $675,362
- Rental profits, invested at 7%
- $64,981
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $266,400 of loan.
$49,607 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $292,920
- Monthly shortfalls, invested
- $409,204
$38,480 put into an index fund instead of the down payment and closing costs.
$77,980 you'd have paid in while the building lost money, invested instead.
The building comes out $38,219 ahead after 30 years.
- Your equity when you sell
- $675,362
- Rental profits, invested at 7%
- $3,466
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $266,400 of loan.
$3,301 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $292,920
- Monthly shortfalls, invested
- $686,546
$38,480 put into an index fund instead of the down payment and closing costs.
$156,042 you'd have paid in while the building lost money, invested instead.
Stocks come out $300,639 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $80,310
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $257,400 of loan.
$59,304 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $283,024
- Monthly shortfalls, invested
- $354,920
$37,180 put into an index fund instead of the down payment and closing costs.
$65,851 you'd have paid in while the building lost money, invested instead.
The building comes out $94,912 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $6,984
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $257,400 of loan.
$6,425 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $283,024
- Monthly shortfalls, invested
- $620,451
$37,180 put into an index fund instead of the down payment and closing costs.
$137,341 you'd have paid in while the building lost money, invested instead.
Stocks come out $243,946 ahead after 30 years.
- Your equity when you sell
- $675,362
- Rental profits, invested at 7%
- $125,179
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $236,800 of loan.
$85,214 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $518,242
- Monthly shortfalls, invested
- $194,660
$68,080 put into an index fund instead of the down payment and closing costs.
$34,700 you'd have paid in while the building lost money, invested instead.
The building comes out $87,639 ahead after 30 years.
- Your equity when you sell
- $675,362
- Rental profits, invested at 7%
- $20,484
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $236,800 of loan.
$17,403 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $518,242
- Monthly shortfalls, invested
- $428,822
$68,080 put into an index fund instead of the down payment and closing costs.
$91,258 you'd have paid in while the building lost money, invested instead.
Stocks come out $251,218 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $147,198
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $228,800 of loan.
$96,798 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $500,734
- Monthly shortfalls, invested
- $156,347
$65,780 put into an index fund instead of the down payment and closing costs.
$27,123 you'd have paid in while the building lost money, invested instead.
The building comes out $142,662 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $28,391
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $228,800 of loan.
$23,289 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $500,734
- Monthly shortfalls, invested
- $376,398
$65,780 put into an index fund instead of the down payment and closing costs.
$77,983 you'd have paid in while the building lost money, invested instead.
Stocks come out $196,195 ahead after 30 years.
- Your equity when you sell
- $675,362
- Rental profits, invested at 7%
- $168,210
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $222,000 of loan.
$107,312 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $630,904
- Monthly shortfalls, invested
- $126,078
$82,880 put into an index fund instead of the down payment and closing costs.
$21,351 you'd have paid in while the building lost money, invested instead.
The building comes out $86,590 ahead after 30 years.
- Your equity when you sell
- $675,362
- Rental profits, invested at 7%
- $36,405
Sells for $718,470 (value up 3% a year), minus 6% selling cost ($43,108). Rent paid down $222,000 of loan.
$28,979 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $630,904
- Monthly shortfalls, invested
- $333,130
$82,880 put into an index fund instead of the down payment and closing costs.
$67,386 you'd have paid in while the building lost money, invested instead.
Stocks come out $252,268 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $194,080
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $214,500 of loan.
$119,629 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $609,589
- Monthly shortfalls, invested
- $95,387
$80,080 put into an index fund instead of the down payment and closing costs.
$15,705 you'd have paid in while the building lost money, invested instead.
The building comes out $141,649 ahead after 30 years.
- Your equity when you sell
- $652,545
- Rental profits, invested at 7%
- $46,754
Sells for $694,197 (value up 3% a year), minus 6% selling cost ($41,652). Rent paid down $214,500 of loan.
$35,992 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $609,589
- Monthly shortfalls, invested
- $286,918
$80,080 put into an index fund instead of the down payment and closing costs.
$56,436 you'd have paid in while the building lost money, invested instead.
Stocks come out $197,209 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 $740K, stocks $702K. The property wins.
Year 30 (loan paid off): property $679K, stocks $979K. Stocks win.
Year 30 (loan paid off): property $733K, stocks $638K. The property wins.
Year 30 (loan paid off): property $660K, stocks $903K. Stocks win.
Year 30 (loan paid off): property $801K, stocks $713K. The property wins.
Year 30 (loan paid off): property $696K, stocks $947K. Stocks win.
Year 30 (loan paid off): property $800K, stocks $657K. The property wins.
Year 30 (loan paid off): property $681K, stocks $877K. Stocks win.
Year 30 (loan paid off): property $844K, stocks $757K. The property wins.
Year 30 (loan paid off): property $712K, stocks $964K. Stocks win.
Year 30 (loan paid off): property $847K, stocks $705K. The property wins.
Year 30 (loan paid off): property $699K, stocks $897K. 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 $1,500/mo · range $1,275–$1,625 · 16 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3515 2nd Ave S Unit 303, Minneapolis | $1,695 | 2 / 1 | 0.1 mi |
| 3503 2nd Ave S, Minneapolis | $1,639 | 2 / 1 | 0.1 mi |
| 3429 2nd Ave S Fl 1, Minneapolis | $1,400 | 2 / 1 | 0.2 mi |
| 3648 Blaisdell Ave Apt 2, Minneapolis | $1,595 | 2 / — | 0.3 mi |
| 3329 Nicollet Ave, Minneapolis | $1,675 | 2 / 1 | 0.3 mi |
| 3212 1st Ave S, Minneapolis | $1,800 | 2 / 1 | 0.4 mi |
| 3520 Grand Ave S, Minneapolis | $1,225 | 2 / 1 | 0.4 mi |
| 3721 Grand Ave S Unit 2, Minneapolis | $1,600 | 2 / 1 | 0.5 mi |
| 3721 Grand Ave S Unit 1, Minneapolis | $1,600 | 2 / 1 | 0.5 mi |
| 3700 Grand Ave S, Minneapolis | $1,275 | 2 / 1 | 0.5 mi |
1 bed estimate $1,075/mo · range $975–$1,150 · 13 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3527 Pillsbury Ave S, Minneapolis | $1,075 | 1 / 1 | 0.3 mi |
| 3309 Pillsbury Ave S, Minneapolis | $1,000 | 1 / 1 | 0.4 mi |
| 3615 Grand Ave S, Minneapolis | $950 | 1 / 1 | 0.4 mi |
| 3538 Grand Ave S, Minneapolis | $1,015 | 1 / 1 | 0.4 mi |
| 3320 Grand Ave S, Minneapolis | $1,200 | 1 / 1 | 0.5 mi |
| 3410 Harriet Ave S, Minneapolis | $1,099 | 1 / 1 | 0.5 mi |
| 3845 Grand Ave S, Minneapolis | $1,300 | 1 / 1 | 0.6 mi |
| 3127 Pleasant Ave, Minneapolis | $1,099 | 1 / 1 | 0.6 mi |
| 3127 Pleasant Ave Apt 206, Minneapolis | $1,099 | 1 / 1 | 0.6 mi |
| 3118 Pleasant Ave, Minneapolis | $1,199 | 1 / 1 | 0.7 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
- highNo rental history or records; income is unproven and the building may not be licensed. Listing says: In trust with no rental records. · 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 3544 STEVENS AVE
- mediumAbout 72 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 72 m
- mediumPeeling, damaged plaster and paint in the dining room could indicate past moisture. Based on: photo 10 · AI review
- mediumKitchens and baths look original and dated, so rehab cost is likely significant before rents reach estimates. Based on: photo 8 · AI review
- lowAttic third unit is speculative and would need permits, egress and code compliance. Listing says: Potential 3rd unit on huge third floor attic. · AI review
Opportunities
- The seller bought for $14,900 in Sep 1989, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 0302824420112: last sale 1989-09-01, $14,900
- Add a third unit in the attic if it can be done legally; costly and unproven. Listing says: Potential 3rd unit on huge third floor attic. · AI review
- Value-add by renovating into a fresh rental; Minneapolis has no rent cap. Based on: data: underwriting.rent_rule · AI review
- Original woodwork and hardwood floors are intact and could be a selling point after refresh. Based on: photo 5 · AI review
Questions for the agent
- Is the building licensed as a rental, and has the city inspected it?
- Is the house currently vacant, and what is the plan for the trust's sale timeline?
- What is the age and condition of the wiring beyond the breaker panel, and are there any knob-and-tube remnants?
- What caused the peeling plaster in the dining room, and has there been any water intrusion?
- Are the two units separately metered for gas and electric, and is there one boiler or two?
- Has anyone checked the attic for egress, ceiling height and code requirements for a unit?
Bottom line
Interesting old duplex with good bones, but at $296K it loses money and needs a rehab, so it only works at a much lower price. 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. | $4,623 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,580 |
| 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 1908: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-10-02 (3 days).
| Date | Event | Price |
|---|---|---|
| Listed | $296,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1908 |
| Market value (2026) | $315,200 |
| Property tax | $4,624 |
| Special assessments | none |
| Homestead | no |
| Last sale | 1989-09-01 · $14,900 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 35W, about 72 m away.
Crime in Lyndale
473 incidents in the last 12 months (66 per 1,000 residents), −2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).