Minneapolis › McKinley

3606 Bryant Ave N

Duplex · 2 units: 1 bed / 1 bath ×2 unit split estimated · 1,388 sq ft

Minneapolis, MN · McKinley · View the listing ↗

Overpriced

21 photos

Photos, via Realtor.com.

Asking price: $264,900
Monthly cash flow: −$488
Estimated rent: $2,100/mo
Break-even price: $173,234

Adjust the numbers See the full breakdown

First look

This is a recently flipped-looking duplex asking $264,900, and the numbers don't work at today's rates. Our underwriting shows about -$488/month and a 4.2% cap rate, with break-even near $173,234. The seller paid $250K in Dec 2023, so the ask is only modestly above that, yet it has sat 158 days. The description gives no rents, no unit split and no repair history beyond "up-to-date" systems, so ask for the rent roll and permits first. The photos show fresh finishes, but one photo shows electric baseboard heat while the county lists forced air, which needs sorting out. Only worth a showing if the price drops sharply or actual rents beat our $1,050 per unit estimate.

Things to consider

Price versus income At asking the deal loses money every month and break-even is about two-thirds of the price. Any offer needs to be built from verified rents.
Unverified systems claim The listing says plumbing, electrical and HVAC are up to date, but photos show none of them. Get permits and an inspection.Listing says: “Turn-key duplex with up-to-date plumbing, electrical, hvac.”
Heat setup unclear Baseboard electric versus forced air changes who pays heat and the tenants' real cost, which affects rents and expenses.
Rents are not stated Our estimate is $1,050 per unit with a 900 to 1,200 range, and the listing gives nothing to confirm it.
Taxes will likely rise The current bill is homestead; an investor will pay a higher non-homestead rate, cutting cash flow further.
Long time on market 158 days and a modest gain over the 2023 sale price suggest the seller may take less.

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

donePlumbing, electrical and HVAC described as up to dateListing says: Turn-key duplex with up-to-date plumbing, electrical, hvac.
doneSidewalks replacedListing says: sidewalks replaced in spring 2024

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: $264,900
Cash to close: $60,927
Price per unit: $132,450
GRM: 10.5

Each month

Cash flow: −$488/mo
Cash-on-cash: −9.6%
Cap rate: 4.2%
DSCR: 0.65×

Break-even

Price that breaks even: $173,234
Rent that breaks even: $2,734/mo

Long run

Year 30: property vs stocks: $657K vs $744K
Cash flow turns positive: year 18

Monthly

Monthly breakdown

Rent	$2,100
Vacancy (6%)	−$126
Collected	$1,974
Property tax Listing	−$268
Insurance Estimate	−$197
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$168
Capital reserve (9% of rent)	−$189
Net operating income	$922
Mortgage (principal + interest)	−$1,410
Cash flow	−$488
Principal paid down (equity, not cash)	$179

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

If you buy this building$656,658

Your equity when you sell: $604,403
Rental profits, invested at 7%: $52,255

Same money in stocks$744,012

Cash to close, invested at 7%: $463,792
Monthly shortfalls, invested: $280,220

Stocks come out $87,354 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

This propertyStocks at 7%

Year 30 (loan paid off): property $657K, stocks $744K. 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.

1 bed estimate $1,050/mo · range $950–$1,150 · 13 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3600 Fremont Ave N Apt 3, Minneapolis	$875	1 / 1	600	0.2 mi	—	Apartment
617 Lowry Ave N, Minneapolis	$1,120	1 / 1	980	0.6 mi	2026-07-17	Apartment
2938 Dupont Ave N, Minneapolis	$1,050	1 / 1	600	0.7 mi	—	Apartment
2928 Emerson Ave N, Minneapolis	$1,050	1 / 1	745	0.7 mi	2026-09-24	Apartment
3706 N Penn Ave Unit 1, Minneapolis	$699	1 / 1	1,200	0.9 mi	2026-06-16	Apartment
2652 Marshall St NE, Minneapolis	$950	1 / 1	—	0.9 mi	2025-04-30	Apartment
3610 N Queen Ave Unit 1, Minneapolis	$1,000	1 / 1	900	0.9 mi	2026-09-28	Apartment
3230 Penn Ave N, Minneapolis	$925	1 / 1	765	1.0 mi	2026-06-12	Apartment
421 N 26th Ave Unit 4, Minneapolis	$950	1 / 1	90	1.1 mi	2026-09-21	Apartment
801 21st Ave N, Minneapolis	$875	1 / 1	750	1.4 mi	2025-12-30	Apartment

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 is far above what rents support; owner would lose money monthly at asking. Based on: data: underwriting.cash_flow_monthly · AI review
mediumAsking is $91,666 above the price where cash flow breaks even ($173,234) at the default scenario. Based on: Derived: price $264,900 vs. break-even $173,234
mediumHeat type conflict: county says forced air, but photos show electric baseboard heaters. Could be mixed systems and a high electric cost for tenants, or an owner-paid cost. Based on: photo 10 · AI review
mediumDescription gives no rents, no lease status and no unit details, so income is unverified. Based on: data: rent_estimate · AI review
mediumListed as homestead; investor tax bill will likely be higher than $4,498. Based on: data: county.homestead · AI review
low$166 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 0402924440176: special assessments (current) = $165.50

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 161 days on market
Minneapolis has no rent cap, so rents can follow the market if units are fresh and well run. Based on: data: underwriting.rent_rule · AI review
Active Tier 1 rental license for 2 units already in place, which signals a clean compliance record. Listing says: Minneapolis classifies this property as a TIER 1 rental property! · AI review
158 days on market gives room to negotiate hard. Based on: data: listing.days_on_market · AI review

Questions for the agent

What are the current rents, lease terms and move-in dates for each unit?
What is the real bed/bath split in each unit, and are the units truly 1-bed each?
Which permits were pulled for the plumbing, electrical and HVAC work, and who did it?
How is each unit heated, and who pays heat and electric?
What are the $166 special assessments for?
Why has it sat 158 days, and have there been price cuts or offers?

Bottom line

Cosmetically fresh duplex, but at $264,900 it loses about $488 a month on our numbers, so only a big price cut or much higher real rents makes it work. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2025. 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.	$3,218
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,362
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 1901: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-04-27 (161 days); down $50,000 (15.9%) from the first ask of $314,900; last sold for $250,000 on 2023-12-13.

Date	Event	Price
2026-09-28	Price changed	$264,900
2026-09-10	Relisted	$269,000
2026-09-09	Removed	$269,000
2026-09-02	Price changed	$269,000
2026-08-12	Price changed	$279,000
2026-07-17	Price changed	$284,900
2026-06-28	Removed	$314,900
2026-06-26	Removed	$349,900
2026-06-14	Price changed	$299,000
2026-05-15	Price changed	$314,900
2026-05-01	Price changed	$334,900
2026-04-27	Listed	$314,900
2023-12-13	Sold	$250,000
2023-02-11	Removed	—
2023-01-17	Relisted	$349,000
2022-12-24	Removed	—
2022-11-20	Listed	$349,000
2022-06-29	Sold public record	$105,000
2021-06-14	Removed	$209,900
2021-04-30	Listed	$209,900
2020-12-17	Sold public record	$152,500
2019-12-16	Sold	$152,500
2018-05-12	Sold	$133,000
2018-03-17	Listed	$140,000
2012-01-03	Sold	$15,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1901
Market value (2026)	$307,700
Property tax	$4,498
Special assessments	$166
Homestead	no
Last sale	2023-12-01 · $250,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 94, about 534 m away.

Crime in McKinley

145 incidents in the last 12 months (45 per 1,000 residents), −9% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).