Minneapolis › Standish

3852 Standish Ave

Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 2,462 sq ft

Minneapolis, MN · Standish · View the listing ↗

Far off

44 photos

Photos courtesy of Wolff & Simon Real Estate - Broker, via Realtor.com.

Asking price: $529,900
Monthly cash flow: −$1,254
Estimated rent: $3,150/mo
Break-even price: $294,344

Adjust the numbers See the full breakdown

From the listing

Don't miss out on this incredible opportunity to own a meticulously maintained, owner-occupied duplex in the sought-after Standish neighborhood! Nestled on a prime corner lot, this property offers a private fenced yard, an inviting patio area, and a convenient storage shed, perfect for your outdoor needs. Step inside to discover stunning hardwood floors throughout the main level of both units, accompanied by practical kitchen and dining room layouts that create a welcoming atmosphere. One side features a beautifully finished basement, ideal for use as a mother-in-law suite or a non-conforming third unit, complete with two bedrooms, a charming living area, and a cozy gas fireplace for those chilly evenings. The property also boasts newer high-efficiency furnaces and air conditioning units for comfort year-round. You'll find ample laundry facilities, a utility room, and a generously sized storage area in the unfinished section of the basement. This unique property won't last long on the market-come see it for yourself today!

Listing courtesy of Wolff & Simon Real Estate - Broker (Brian Halik). Description from Realtor.com, MLS #7126967. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1930 Standish duplex asking $529,900, and the numbers don't work. Our underwriting shows about -$1,254 a month and a 3.5% cap rate, with two units we estimate at roughly $1,575 each. The seller paid $452,500 in 2023 and is now asking about $77K more, and the county values it at $369,300. The listing gives no rents, no lease terms and no repair history, so ask for the rent roll first. The finished basement is sold as a possible third unit, but it is described as non-conforming, so don't count rent from it. Unless the price drops hard, I wouldn't spend a showing on it as an investment.

Things to consider

Price is far above what the rents support Our underwriting shows a loss of about $1,254 a month and a 3.5% cap rate. Break-even price is about $294K.
Seller is asking well above the recent sale price Paid $452,500 in 2023 and now asks $529,900, while the county values the property at $369,300. That gap is hard to justify on rent.
Basement is not a legal third unit The listing calls it non-conforming, so its rent potential is limited and unlicensed use could cause problems. Check with the city.Listing says: “ideal for use as a mother-in-law suite or a non-conforming third unit”
Taxes will likely rise for an investor The current bill reflects homestead status. A non-homestead bill would be higher and further reduce cash flow.
Kitchens and baths look dated Cosmetic updates would be needed to reach top rents, which adds cost on top of a price that already doesn't work.From photo 7

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

doneNewer high-efficiency furnaces and air conditioning unitsListing says: newer high-efficiency furnaces and air conditioning units for comfort year-round

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: $529,900
Cash to close: $121,877
Price per unit: $264,950
GRM: 14.0

Each month

Cash flow: −$1,254/mo
Cash-on-cash: −12.3%
Cap rate: 3.5%
DSCR: 0.56×

Break-even

Price that breaks even: $294,344
Rent that breaks even: $4,757/mo

Long run

Year 30: property vs stocks: $1.24M vs $1.80M
Cash flow turns positive: year 24

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Listing	−$459
Insurance Estimate	−$201
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$252
Capital reserve (8% of rent)	−$252
Net operating income	$1,567
Mortgage (principal + interest)	−$2,820
Cash flow	−$1,254
Principal paid down (equity, not cash)	$359

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$1,238,388

Your equity when you sell: $1,209,034
Rental profits, invested at 7%: $29,354

Same money in stocks$1,799,175

Cash to close, invested at 7%: $927,759
Monthly shortfalls, invested: $871,416

Stocks come out $560,787 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 $1.24M, stocks $1.80M. 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 $1,575/mo · range $1,375–$1,775 · 21 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3725 Cedar Ave S, Minneapolis	$1,349	2 / 1	767	0.4 mi	2026-06-30	Apartment
3806 28th Ave S, Minneapolis	$2,150	2 / 2	899	0.4 mi	2025-07-14	Apartment
3710 Minnehaha Ave, Minneapolis	$1,299	2 / 1	844	0.8 mi	2025-02-28	Apartment
3900 Minnehaha Ave S, Minneapolis	$1,900	2 / 1	—	0.8 mi	2026-09-29	Apartment
3966 Minnehaha Ave, Minneapolis	$1,095	2 / 1	690	0.9 mi	2026-08-05	Apartment
3140 16th Ave S, Minneapolis	$1,300	2 / 1	800	1.1 mi	2026-10-03	Apartment
3620 42nd St E, Minneapolis	$1,220	2 / 2	—	1.1 mi	2026-09-29	Apartment
3609 E 42nd St Apt 1, Minneapolis	$1,700	2 / 1	750	1.1 mi	—	Apartment
2220 E Lake St, Minneapolis	$1,425	2 / 1	835	1.1 mi	—	Apartment
4112 Chicago Ave S, Minneapolis	$1,499	2 / 1	1,000	1.1 mi	2025-01-31	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

highSeller paid $452,500 in Aug 2023 and now asks $529,900, while the county values the property at $369,300. The ask is far above what the property supports. Based on: data: county.market_value · AI review
mediumAsking is $235,556 above the price where cash flow breaks even ($294,344) at the default scenario. Based on: Derived: price $529,900 vs. break-even $294,344
mediumThe finished basement bedrooms are non-conforming, so no legal rent can be counted from them. Treat the finished basement as storage or owner space, not income. Listing says: ideal for use as a mother-in-law suite or a non-conforming third unit · AI review
mediumOwner-occupied listing with no rent roll, so there are no verified rents or lease terms. Listing says: meticulously maintained, owner-occupied duplex · AI review
mediumListing shows $5,509 in tax with homestead status. An investor pays the higher non-homestead bill, so the tax cost will likely rise. Based on: data: county.homestead · AI review

Opportunities

Minneapolis has no rent cap, so rents can follow the market after any refresh. Based on: data: underwriting.rent_rule · AI review
Fifty days on market gives room to negotiate, though the price would need to fall by a large amount to work. Based on: data: listing.days_on_market · AI review
A corner lot with a detached 2-car garage and a fenced yard helps tenant appeal and parking. Based on: photo 5 · AI review

Questions for the agent

Can I see the rent roll, lease terms and last 12 months of expenses?
Do tenants or the owner pay heat, water and electric, and are they separately metered?
How old are the furnaces, roof, water heaters and electrical panels?
Is the basement permitted and does it have egress windows? Is it covered by the rental license?
What is the status of the Short Term Registration (ShrtTrmReg) at 3854 Standish?
Will the seller come down toward the county value and our break-even price?

Bottom line

At $529,900 this small duplex loses about $1,250 a month on our numbers, so it only works at a far 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.	$5,509
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,416
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 2026-08-13 (53 days); last sold for $452,500 on 2023-08-25.

Date	Event	Price
2026-08-13	Listed	$529,900
2023-08-25	Sold	$452,500
2001-07-31	Sold public record	$174,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1930
Market value (2026)	$369,300
Property tax	$5,509
Special assessments	none
Homestead	no
Last sale	2023-08-01 · $452,500

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 55, about 884 m away.

Crime in Standish

276 incidents in the last 12 months (40 per 1,000 residents), −1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).