Minneapolis › Bancroft

3952 Bloomington Ave

Duplex · 2 units: 2 bed / 2 bath ×2 unit split estimated · 2,454 sq ft

Minneapolis, MN · Bancroft · View the listing ↗

Far off

44 photos

Photos, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.

Asking price: $475,000
Monthly cash flow: −$1,369
Estimated rent: $2,900/mo
Break-even price: $217,700

Adjust the numbers See the full breakdown

First look

This is a 2-unit side-by-side in Bancroft asking $475K, and the numbers don't work. Our rent estimate is about $1,450 per 2-bed/2-bath, and at 20% down it loses roughly $1,369 a month with a 2.9% cap rate. Cash flow breaks even near $218K, so the ask is far above what long-term rents support. The seller bought for $291K in 2023, and the listing leans on past short-term-rental use with no income figures. Verify the licensing and the real rent or STR history before a showing; at this price it only makes sense as an owner-occupant play.

Things to consider

Price far above what rents support At about $1,450 per unit, ask-price cash flow is deeply negative. The break-even price is about $218K, so a large cut or a big down payment is needed.
Short-term rental income is unproven The listing gives no income. STR revenue can be seasonal and licence-dependent, so underwrite it on long-term rent unless you see documented statements.Listing says: “Previously operated as furnished short-term rentals”
Property is 2.5-year flip in value A $291K purchase in 2023 followed by $475K asking suggests the seller is pricing in the renovations and STR use. Check county value and permits.
Owner-occupant path is the strongest case Living in one unit lowers financing costs, and the second unit's rent offsets the payment. Even so, the monthly payment will still be heavy at this price.Listing says: “live in one unit while generating income from the other”
Property taxes are high and non-homestead The tax bill of about $8,066 is a major expense on about $2,900 a month of potential rent. Owner-occupying could reduce it with homestead status.

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

doneUpdated kitchens and modern finishes in both unitsListing says: modern finishes, updated kitchens, comfortable living spaces, and finished lower-level areas

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: $475,000
Cash to close: $109,250
Price per unit: $237,500
GRM: 13.6

Each month

Cash flow: −$1,369/mo
Cash-on-cash: −15.0%
Cap rate: 2.9%
DSCR: 0.46×

Break-even

Price that breaks even: $217,700
Rent that breaks even: $4,656/mo

Long run

Year 30: property vs stocks: $1.08M vs $2.00M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$2,900
Vacancy (6%)	−$174
Collected	$2,726
Property tax Public record	−$672
Insurance Estimate	−$201
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$232
Capital reserve (8% of rent)	−$232
Net operating income	$1,159
Mortgage (principal + interest)	−$2,528
Cash flow	−$1,369
Principal paid down (equity, not cash)	$322

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$1,083,773

Your equity when you sell: $1,083,773
Rental profits, invested at 7%: $0

Same money in stocks$1,996,631

Cash to close, invested at 7%: $831,639
Monthly shortfalls, invested: $1,164,992

Stocks come out $912,858 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 $1.08M, stocks $2.00M. 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 $1,450/mo · range $1,275–$1,575 · 6 rentals within 0.75 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
4112 Chicago Ave S, Minneapolis	$1,499	2 / 1	1,000	0.5 mi	2025-01-31	Apartment
3715 Columbus Ave S Apt 2, Minneapolis	$1,395	2 / 1	920	0.6 mi	—	Apartment
3715 Columbus Ave S Apt 4, Minneapolis	$1,495	2 / 1	920	0.6 mi	—	Apartment
3549 Columbus Ave S, Minneapolis	$1,250	2 / 1	800	0.7 mi	—	Apartment
3718 Oakland Ave S, Minneapolis	$1,150	2 / 1	700	0.7 mi	2026-01-03	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

highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 3952 BLOOMINGTON AVE, units=1
highFurnished short-term rental history; no long-term rent roll or income figures given Listing says: Previously operated as furnished short-term rentals · AI review
highPrice is about $184K above the county's market value and far above the 2023 sale Based on: data: county.last_sale_price · AI review
mediumAsking is $257,300 above the price where cash flow breaks even ($217,700) at the default scenario. Based on: Derived: price $475,000 vs. break-even $217,700
mediumFinished lower-level areas may not be legal bedrooms or baths; the 2 bed / 2 bath count may rely on them Listing says: finished lower-level areas · AI review

Opportunities

Owner-occupy one side and rent the other to cut carrying cost Listing says: live in one unit while generating income from the other · AI review
Minneapolis has no rent cap, so rents can follow the market after a switch to long-term Based on: data: underwriting.rent_rule · AI review
Updated kitchens and finishes in place, so little cosmetic work is needed before renting Based on: photo 8 · AI review

Questions for the agent

What were trailing-12 gross income and expenses as a short-term rental, with platform statements?
Does the short-term license transfer, and is the second unit licensed for any rental use?
How are the lower levels finished, are there egress windows, and were permits pulled?
Are the units separately metered for gas and electric, and how many furnaces and water heaters are there?
Why was it listed at $475K after a $291K purchase in 2023, and has the price changed in 42 days?
Are there any current tenants or booked stays?

Bottom line

Nicely updated, but $475K is more than double what long-term rents support, so it works only as an owner-occupant deal or if the STR income is proven. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$8,066
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,414
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 2026-07-04 (93 days, relisted 1×); down $24,900 (5.0%) from the first ask of $499,900; last sold for $291,000 on 2023-07-31; listed for rent at $800/mo on 2014-01-13.

Date	Event	Price
2026-09-26	Price changed	$475,000
2026-08-21	Listed	$495,000
2026-07-04	Removed	$499,900
2023-07-31	Sold	$291,000
2015-11-13	Rental removed	$800/mo
2014-01-13	Listed for rent	$800/mo
1997-07-15	Sold public record	$78,500

County record Public record

Recorded as	duplex
Living units	2
Year built	1950
Market value (2026)	$426,400
Property tax	$8,066
Special assessments	none
Homestead	no
Last sale	2023-07-01 · $291,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1708 m away.

Crime in Bancroft

126 incidents in the last 12 months (37 per 1,000 residents), −8% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).