3921 Lyndale Ave N

Duplex · 2 units: 4 bed / 2 bath ×2 unit split estimated · 2,660 sq ft

Minneapolis, MN · Webber - Camden · View the listing ↗

Cash flows

13 photos

Photos, via Realtor.com.

Asking price: $379,900
Monthly cash flow: $194
Estimated rent: $4,150/mo
Break-even price: $416,411

Adjust the numbers See the full breakdown

First look

Side-by-side duplex in North Minneapolis, asking $379,900, with 4-bed / 2.75-bath units on each side and a garage for each. Our estimate puts rent near $2,075 per side, which gives about $194/mo cash flow and a 7% cap at asking with 20% down. That is thin, and it rests on estimated rents because the listing gives none. The photos show a clean but dated 1954 interior, so rents likely depend on a refresh. Photos show only one unit's kitchen and bath, so check the other side, the basement, the mechanicals and the foundation. It's worth a showing only if the price comes down or the rent roll supports $2,000+ per side. 104 days on market gives room to negotiate.

Things to consider

Thin cash flow at asking About $194/mo and a 7% cap at asking leave little cushion for repairs, vacancy or rate changes. Break-even price is about $416K, but that depends on estimated rents.
Rents are estimates, not actuals The listing states no rents. A $2,075 mid-estimate per side needs confirming with leases, as the low case is $1,550.
Dated interiors Original bath and older kitchens may need updates to reach top-of-range rents. Budget for turnover wear in 8-bedroom total use.From photo 4
Negotiating leverage 104 days on market gives room for a lower offer, which is the main way to improve the numbers.
High tax bill Non-homestead tax of about $6.5K eats a large part of income. Check for reassessment after sale.
Owner-occupant angle Marketed as live-in. If you are an investor, verify that rents work without owner-occupancy financing.Listing says: “perfect fit for an owner-occupant or a sharp portfolio addition”

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

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: $379,900
Cash to close: $87,377
Price per unit: $189,950
GRM: 7.6

Each month

Cash flow: $194/mo
Cash-on-cash: 2.7%
Cap rate: 7.0%
DSCR: 1.10×

Break-even

Price that breaks even: $416,411
Rent that breaks even: $3,898/mo

Long run

Year 30: property vs stocks: $1.93M vs $665K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,150
Vacancy (6%)	−$249
Collected	$3,901
Property tax Public record	−$544
Insurance Estimate	−$205
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$374
Capital reserve (8% of rent)	−$332
Net operating income	$2,216
Mortgage (principal + interest)	−$2,022
Cash flow	$194
Principal paid down (equity, not cash)	$257

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$1,932,109

Your equity when you sell: $866,790
Rental profits, invested at 7%: $1,065,319

Same money in stocks$665,136

Cash to close, invested at 7%: $665,136

The building comes out $1,266,973 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 $1.93M, stocks $665K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

4 bed / 2 bath estimate $2,075/mo · range $1,550–$2,575

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
3706 N Penn Ave, Unit 2, Minneapolis 55412	$1,999	4 / 2	1,351	1.0 mi	2026-07-12	87%
414 33rd Ave N, Minneapolis 55412 off market	$1,600	4 / 2	2,592	0.8 mi	2025-11-12	84%
3201 N Humboldt Ave, Minneapolis 55412 off market	$2,200	4 / 2	2,244	1.0 mi	2026-02-13	80%
4216 Bryant Ave N, Minneapolis 55412 off market	$2,200	4 / 1	1,010	0.4 mi	2025-09-22	80%
2643 Lyndale Ave N, Minneapolis 55411 off market	$750	4 / 2	2,198	1.3 mi	2024-08-16	80%
2818 Dupont Ave N, Minneapolis 55411 off market	$2,800	4 / 2	2,084	1.2 mi	2026-01-01	79%
3342 Fremont Ave N, Unit 2, Minneapolis 55412 off market	$2,200	4 / 2	2,000	0.8 mi	2024-10-02	79%
3049 Grand St NE, Minneapolis 55418 off market	$1,600	3 / 1	—	0.9 mi	2026-04-02	78%
2959 Bryant Ave N, Minneapolis 55411 off market	$2,400	4 / 2	2,000	1.1 mi	2026-09-25	78%
3118 Morgan Ave N, Minneapolis 55411 off market	$1,900	3 / 1	—	1.2 mi	2025-10-15	78%

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumNo rents, lease status or expenses given. The description pitches owner-occupancy, so the numbers are unverified. Listing says: Live in one side and let the other pay your mortgage, or rent out both for maximum cash flow. · AI review
mediumTax bill is $6,525 on a non-homestead basis, heavy against estimated rent. Confirm the current figure. Based on: data: county.tax · AI review
lowInterstate I-94 is under 200 m away. Noise and air quality may weigh on rents and tenant quality. Based on: data: highway · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 104 days on market, 1 price cuts
Large 4-bed units are rare, and no rent cap means rents can rise after a refresh. Listing says: hard-to-find 4-bedroom, 2.75-bathroom layout · AI review
104 days on market suggests room to negotiate below ask. Based on: data: listing.days_on_market · AI review
Separate garage for each side helps rentability. Listing says: each side comes complete with its own private, individual garage · AI review

Questions for the agent

What are the current rents, lease terms and move-in dates for each side, and are tenants in place?
Does each side have its own furnace, water heater, electric meter and gas meter?
What are the age and condition of the roof, furnaces, water heaters and electrical panels?
Why has it sat 104 days, and have there been price cuts or failed offers?
Are the basement bedrooms legal, with egress? Does the rental license cover all of that space?
What do tenants pay for utilities, and what were the last 12 months of owner expenses?

Bottom line

Big 4-bed units and a decent price-to-rent ratio, but only about $194/mo cash flow at asking on estimated rents, so verify rents and negotiate down. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$6,525
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,465
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. 8 bedrooms: +1 pt repairs for wear	9% / 8%

Price history Realtor.com

On the market since 2026-06-23 (104 days); down $20,000 (5.0%) from the first ask of $399,900; last sold for $275,000 on 2018-10-12.

Date	Event	Price
2026-10-01	Price changed	$379,900
2026-06-25	Relisted	$399,900
2026-06-24	Removed	—
2026-06-23	Listed	$399,900
2018-10-12	Sold	$275,000
2018-08-21	Sold	$275,000
2018-08-02	Listed	$275,000
2010-11-29	Sold	$50,500
2010-10-30	Listed	$37,000
1995-07-07	Sold public record	$69,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1954
Market value (2026)	$343,600
Property tax	$6,525
Special assessments	none
Homestead	no
Last sale	2018-08-01 · $273,000

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 191 m away.

Crime in Webber - Camden

232 incidents in the last 12 months (41 per 1,000 residents), +5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).