3614 Russell Ave N
Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 1,537 sq ft
Minneapolis, MN · Cleveland · View the listing ↗
Photos courtesy of Exp Realty - Broker, via Realtor.com.
- Asking price
- $150,000 2 units · $75K per unit
- Monthly cash flow
- $207 at 20% down, 7%
- Break-even price
- $188,939 where cash flow hits $0
First look
This is a $150K Minneapolis duplex in Cleveland that has sat 121 days, and the listing gives almost nothing: no rents, no unit split, no tenant status. Our model shows about $188/mo cash flow and a 7.9% cap at asking, but that rests on our rent estimates, not real rents. The county last valued it at $267,500 and it sold for $228K in 2022, so $150K is a big drop and begs the question of what is wrong with it. Check the stucco and the back porch structure first, then get the rent roll, the special assessment details and rental licensing status. Worth a showing only if the agent can explain the price gap and the inspection comes back clean.
Things to consider
- Large discount to value signals hidden problems Asking is far under the 2022 sale and county value. Something may be wrong with condition, title, tenants or the building.
- Rents are our estimates, not actuals The cash flow figure depends on estimated rents. Real rents or vacancy could change it a lot.
- Rental license is missing An unlicensed building can mean inspection work and delays before you can legally rent it.
- Porch and exterior need inspection The makeshift support and stucco could mean repair costs the price doesn't reflect.From photo 5
- Updated systems reduce some risk A 2020 furnace and 2013 plumbing and electrical help, but confirm they were permitted and what type of wiring remains.Listing says: “Furnace 2020, Plumbing updated 2013, electrical updated 2013.”
From the photos
Based on 7 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- donePlumbing updatedListing says: Plumbing updated 2013
- doneElectrical updatedListing says: electrical updated 2013
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
- $150,000
- Cash to close
- $19,500
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- $23/mo
- Cash-on-cash
- 1.4%
- Cap rate
- 8.0%
- DSCR
- 1.02×
Break-even
- Price that breaks even
- $153,523
- Rent that breaks even
- $2,445/mo
Long run
- Year 30: property vs stocks
- $779K vs $148K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $19,500
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- −$186/mo
- Cash-on-cash
- −11.5%
- Cap rate
- 6.4%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $121,557
- Rent that breaks even
- $2,747/mo
Long run
- Year 30: property vs stocks
- $504K vs $199K
- Cash flow turns positive
- year 7
The deal
- Price
- $140,000
- Cash to close
- $18,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- $89/mo
- Cash-on-cash
- 5.8%
- Cap rate
- 8.6%
- DSCR
- 1.10×
Break-even
- Price that breaks even
- $153,523
- Rent that breaks even
- $2,360/mo
Long run
- Year 30: property vs stocks
- $826K vs $139K
- Cash flow turns positive
- year 1
The deal
- Price
- $140,000
- Cash to close
- $18,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- −$121/mo
- Cash-on-cash
- −8.0%
- Cap rate
- 6.8%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $121,557
- Rent that breaks even
- $2,651/mo
Long run
- Year 30: property vs stocks
- $529K vs $167K
- Cash flow turns positive
- year 5
The deal
- Price
- $150,000
- Cash to close
- $34,500
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- $207/mo
- Cash-on-cash
- 7.2%
- Cap rate
- 8.0%
- DSCR
- 1.26×
Break-even
- Price that breaks even
- $188,939
- Rent that breaks even
- $2,206/mo
Long run
- Year 30: property vs stocks
- $919K vs $263K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $34,500
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- −$2/mo
- Cash-on-cash
- −0.1%
- Cap rate
- 6.4%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $149,598
- Rent that breaks even
- $2,478/mo
Long run
- Year 30: property vs stocks
- $593K vs $263K
- Cash flow turns positive
- year 2
The deal
- Price
- $140,000
- Cash to close
- $32,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- $260/mo
- Cash-on-cash
- 9.7%
- Cap rate
- 8.6%
- DSCR
- 1.35×
Break-even
- Price that breaks even
- $188,939
- Rent that breaks even
- $2,137/mo
Long run
- Year 30: property vs stocks
- $956K vs $245K
- Cash flow turns positive
- year 1
The deal
- Price
- $140,000
- Cash to close
- $32,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- $51/mo
- Cash-on-cash
- 1.9%
- Cap rate
- 6.8%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $149,598
- Rent that breaks even
- $2,400/mo
Long run
- Year 30: property vs stocks
- $630K vs $245K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $42,000
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- $257/mo
- Cash-on-cash
- 7.3%
- Cap rate
- 8.0%
- DSCR
- 1.34×
Break-even
- Price that breaks even
- $201,534
- Rent that breaks even
- $2,141/mo
Long run
- Year 30: property vs stocks
- $975K vs $320K
- Cash flow turns positive
- year 1
The deal
- Price
- $150,000
- Cash to close
- $42,000
- Price per unit
- $75,000
- GRM
- 5.1
Each month
- Cash flow
- $48/mo
- Cash-on-cash
- 1.4%
- Cap rate
- 6.4%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $159,572
- Rent that breaks even
- $2,405/mo
Long run
- Year 30: property vs stocks
- $649K vs $320K
- Cash flow turns positive
- year 1
The deal
- Price
- $140,000
- Cash to close
- $39,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- $307/mo
- Cash-on-cash
- 9.4%
- Cap rate
- 8.6%
- DSCR
- 1.44×
Break-even
- Price that breaks even
- $201,534
- Rent that breaks even
- $2,076/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $298K
- Cash flow turns positive
- year 1
The deal
- Price
- $140,000
- Cash to close
- $39,200
- Price per unit
- $70,000
- GRM
- 4.7
Each month
- Cash flow
- $98/mo
- Cash-on-cash
- 3.0%
- Cap rate
- 6.8%
- DSCR
- 1.14×
Break-even
- Price that breaks even
- $159,572
- Rent that breaks even
- $2,333/mo
Long run
- Year 30: property vs stocks
- $683K vs $298K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$898 |
| PMI | −$84 |
| Cash flow | $23 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$898 |
| PMI | −$84 |
| Cash flow | −$186 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$838 |
| PMI | −$79 |
| Cash flow | $89 |
| Principal paid down (equity, not cash) | $107 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$838 |
| PMI | −$79 |
| Cash flow | −$121 |
| Principal paid down (equity, not cash) | $107 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | $207 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$798 |
| Cash flow | −$2 |
| Principal paid down (equity, not cash) | $102 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$745 |
| Cash flow | $260 |
| Principal paid down (equity, not cash) | $95 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$745 |
| Cash flow | $51 |
| Principal paid down (equity, not cash) | $95 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$748 |
| Cash flow | $257 |
| Principal paid down (equity, not cash) | $95 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$748 |
| Cash flow | $48 |
| Principal paid down (equity, not cash) | $95 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Net operating income | $1,006 |
| Mortgage (principal + interest) | −$699 |
| Cash flow | $307 |
| Principal paid down (equity, not cash) | $89 |
| Rent | $2,475 |
| Vacancy (6%) | −$148 |
| Collected | $2,326 |
| Property tax Listing | −$470 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$198 |
| Capital reserve (9% of rent) | −$223 |
| Property management | −$209 |
| Net operating income | $796 |
| Mortgage (principal + interest) | −$699 |
| Cash flow | $98 |
| Principal paid down (equity, not cash) | $89 |
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
- $342,244
- Rental profits, invested at 7%
- $437,136
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $135,000 of loan.
$203,004 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,439
$19,500 put into an index fund instead of the down payment and closing costs.
The building comes out $630,941 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $161,935
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $135,000 of loan.
$91,261 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $148,439
- Monthly shortfalls, invested
- $50,497
$19,500 put into an index fund instead of the down payment and closing costs.
$7,797 you'd have paid in while the building lost money, invested instead.
The building comes out $305,244 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $506,749
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $126,000 of loan.
$224,830 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $138,543
$18,200 put into an index fund instead of the down payment and closing costs.
The building comes out $687,634 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $209,819
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $126,000 of loan.
$109,673 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $138,543
- Monthly shortfalls, invested
- $28,767
$18,200 put into an index fund instead of the down payment and closing costs.
$4,382 you'd have paid in while the building lost money, invested instead.
The building comes out $361,936 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $576,364
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $120,000 of loan.
$242,980 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,623
$34,500 put into an index fund instead of the down payment and closing costs.
The building comes out $655,985 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $250,848
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $120,000 of loan.
$123,467 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $262,623
- Monthly shortfalls, invested
- $182
$34,500 put into an index fund instead of the down payment and closing costs.
$26 you'd have paid in while the building lost money, invested instead.
The building comes out $330,287 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $636,695
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $112,000 of loan.
$262,141 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $245,115
$32,200 put into an index fund instead of the down payment and closing costs.
The building comes out $711,008 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $310,997
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $112,000 of loan.
$142,602 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $245,115
$32,200 put into an index fund instead of the down payment and closing costs.
The building comes out $385,310 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $632,924
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $112,500 of loan.
$260,943 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $319,715
$42,000 put into an index fund instead of the down payment and closing costs.
The building comes out $655,453 ahead after 30 years.
- Your equity when you sell
- $342,244
- Rental profits, invested at 7%
- $307,226
Sells for $364,089 (value up 3% a year), minus 6% selling cost ($21,845). Rent paid down $112,500 of loan.
$141,404 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $319,715
$42,000 put into an index fund instead of the down payment and closing costs.
The building comes out $329,755 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $689,485
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $105,000 of loan.
$278,906 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $298,400
$39,200 put into an index fund instead of the down payment and closing costs.
The building comes out $710,513 ahead after 30 years.
- Your equity when you sell
- $319,428
- Rental profits, invested at 7%
- $363,787
Sells for $339,817 (value up 3% a year), minus 6% selling cost ($20,389). Rent paid down $105,000 of loan.
$159,368 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $298,400
$39,200 put into an index fund instead of the down payment and closing costs.
The building comes out $384,815 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 $779K, stocks $148K. The property wins.
Year 30 (loan paid off): property $504K, stocks $199K. The property wins.
Year 30 (loan paid off): property $826K, stocks $139K. The property wins.
Year 30 (loan paid off): property $529K, stocks $167K. The property wins.
Year 30 (loan paid off): property $919K, stocks $263K. The property wins.
Year 30 (loan paid off): property $593K, stocks $263K. The property wins.
Year 30 (loan paid off): property $956K, stocks $245K. The property wins.
Year 30 (loan paid off): property $630K, stocks $245K. The property wins.
Year 30 (loan paid off): property $975K, stocks $320K. The property wins.
Year 30 (loan paid off): property $649K, stocks $320K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $298K. The property wins.
Year 30 (loan paid off): property $683K, stocks $298K. The property wins.
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 $1,375/mo · range $1,275–$1,575 · 13 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3619 Fremont Ave N Apt 5, Minneapolis | $1,075 | 2 / 1 | 0.7 mi |
| 3340 Drew Ave N, Robbinsdale | $1,325 | 2 / 1 | 0.8 mi |
| 4329-4331 Thomas Ave N, Minneapolis | $1,750 | 2 / 1 | 0.9 mi |
| 3711 W Broadway Ave, Robbinsdale | $1,099 | 2 / 1 | 0.9 mi |
| 2323 26th Ave N, Minneapolis | $1,717 | 2 / 1 | 1.1 mi |
| 4028 37th Ave N, Robbinsdale | $1,199 | 2 / 1 | 1.1 mi |
| 4024 37th Ave N, Robbinsdale | $1,299 | 2 / 1 | 1.1 mi |
| 4036 37th Ave N, Robbinsdale | $1,250 | 2 / 1 | 1.2 mi |
| 4032 37th Ave N, Robbinsdale | $1,299 | 2 / 1 | 1.2 mi |
| 4347 Fremont Ave N Apt 2, Minneapolis | $1,500 | 2 / 1 | 1.2 mi |
1 bed estimate $1,100/mo · range $1,000–$1,550 · 13 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 3610 N Queen Ave Unit 1, Minneapolis | $1,000 | 1 / 1 | 0.1 mi |
| 3706 N Penn Ave Unit 1, Minneapolis | $699 | 1 / 1 | 0.2 mi |
| 3230 Penn Ave N, Minneapolis | $925 | 1 / 1 | 0.5 mi |
| 3600 Fremont Ave N Apt 3, Minneapolis | $875 | 1 / 1 | 0.7 mi |
| 3600 France Ave N, Robbinsdale | $1,495 | 1 / 1 | 0.9 mi |
| 2623 W Broadway Ave, Minneapolis | $1,082 | 1 / 1 | 0.9 mi |
| 3730 W Broadway Ave, Robbinsdale | $1,670 | 1 / 1 | 0.9 mi |
| 3711 W Broadway Ave, Robbinsdale | $1,025 | 1 / 1 | 0.9 mi |
| 2323 26th Ave N, Minneapolis | $1,436 | 1 / 1 | 1.1 mi |
| 2928 Emerson Ave N, Minneapolis | $1,050 | 1 / 1 | 1.1 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 is far below 2022 sale and county value. Find out why. Based on: data: county.market_value · 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 3614 RUSSELL AVE N
- medium$1,848 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 0502924440091: special assessments (current) = $1,848.20
- mediumBack porch/entry cover looks propped by rough timber posts. Possible structural or safety issue. Based on: photo 5 · AI review
- mediumDuplex with no rents, tenant status or lease info given in the listing. Based on: data: listing.unit_count · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 124 days on market
- Priced well under 2022 sale price with 121 days on market. Room to negotiate. Based on: data: listing.days_on_market · AI review
- Recent furnace and updated plumbing and electrical lower near-term system risk. Listing says: Furnace 2020, Plumbing updated 2013, electrical updated 2013. · AI review
- No rent cap in Minneapolis, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Why is the price so far below the 2022 sale of $228K?
- Is it occupied? What are the rents, lease terms and deposits?
- What are the $1,848 in special assessments for, and who pays them at closing?
- Is it licensed as a rental in Minneapolis, and has it been inspected?
- Does each unit have its own furnace, meters and water heater?
- Are the back porch and stairs permitted and sound?
Bottom line
Cheap on paper with thin modeled cash flow, but the deep discount and the missing rent and license details mean you must find the catch before offering. 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. | $5,639 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,403 |
| 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 1911: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-03 (124 days); down $65,000 (30.2%) from the first ask of $215,000; last sold for $228,000 on 2022-06-15.
| Date | Event | Price |
|---|---|---|
| Price changed | $150,000 | |
| Price changed | $180,000 | |
| Relisted | $215,000 | |
| Removed | — | |
| Listed | $215,000 | |
| Sold | $228,000 | |
| Price changed | $219,500 | |
| Listed | $239,500 | |
| Sold | $34,500 | |
| Listed | $29,900 | |
| Sold public record | $165,000 | |
| Sold public record | $150,000 | |
| Sold public record | $77,500 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1911 |
| Market value (2026) | $267,500 |
| Property tax | $3,790 |
| Special assessments | $1,848 |
| Homestead | no |
| Last sale | 2022-06-01 · $228,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 94, about 2024 m away.
Crime in Cleveland
109 incidents in the last 12 months (35 per 1,000 residents), −33% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).