4145 Colfax Ave S
Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 3,034 sq ft
Minneapolis, MN · East Harriet · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $740,000 2 units · $370K per unit
- Monthly cash flow
- −$1,899 at 20% down, 7%
- Break-even price
- $383,174 where cash flow hits $0
First look
This is a handsome 1931 Tudor duplex in East Harriet, but it prices like a home, not a rental. At $740K and our mid rent estimate of $2,325 per 3-bed unit, the cap rate is about 3.3% and cash flow is roughly -$1,899 a month with 20% down. Taxes are $13,733 on a non-homestead basis, which is a big drag. No rents or lease details are given, so the first ask is whether either unit is occupied and what it pays. It only makes sense for an owner-occupant who values the location and the 4-stall garage; as a pure investment, it needs a much lower price. Photos show clean but dated kitchens and baths, and the boiler situation needs a closer look.
Things to consider
- Price is far above what the rents support At about $4,650 a month in estimated rent, the property can't cover taxes, insurance and a mortgage at this price. Break-even is about $383K, roughly half the ask.
- Non-homestead taxes are very heavy The $13.7K tax bill is nearly 2% of the price and eats a large share of rental income. An owner-occupant would pay less.
- Heating system is only partly updated Only one boiler is described as newer. A failed older boiler can cost thousands, and it affects who pays for heat.Listing says: “one newer boiler”
- Recent capital work reduces near-term risk Roof, chimney masonry and garages are recent, so big exterior bills look less likely soon. Ask for permits and invoices.Listing says: “2017 roof and rebuilt top 17-feet of exterior masonry on the chimney”
- Interiors look dated, so rents may stay near the middle of our range Original-style baths and cosmetic kitchens may limit rents versus renovated units. Updates cost money before you can push rents.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 garages (4 stalls)Listing says: a brand-new 2-car garage for each unit (4 stalls total)
- doneOne newer boilerListing says: Updates include newer garages, one newer boiler, 2017 roof
- doneRoof replaced 2017Listing says: 2017 roof and rebuilt top 17-feet of exterior masonry on the chimney
- doneChimney masonry rebuilt (top 17 feet)Listing says: rebuilt top 17-feet of exterior masonry on the chimney (new brick, limestone overhang, and reinforced concrete cap)
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
- $740,000
- Cash to close
- $96,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$2,808/mo
- Cash-on-cash
- −35.0%
- Cap rate
- 3.3%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $311,350
- Rent that breaks even
- $8,250/mo
Long run
- Year 30: property vs stocks
- $1.69M vs $2.86M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $740,000
- Cash to close
- $96,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$3,201/mo
- Cash-on-cash
- −39.9%
- Cap rate
- 2.7%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $251,292
- Rent that breaks even
- $9,253/mo
Long run
- Year 30: property vs stocks
- $1.69M vs $3.47M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $730,000
- Cash to close
- $94,900
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$2,742/mo
- Cash-on-cash
- −34.7%
- Cap rate
- 3.4%
- DSCR
- 0.43×
Break-even
- Price that breaks even
- $311,350
- Rent that breaks even
- $8,166/mo
Long run
- Year 30: property vs stocks
- $1.67M vs $2.78M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $730,000
- Cash to close
- $94,900
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$3,136/mo
- Cash-on-cash
- −39.6%
- Cap rate
- 2.7%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $251,292
- Rent that breaks even
- $9,159/mo
Long run
- Year 30: property vs stocks
- $1.67M vs $3.39M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $740,000
- Cash to close
- $170,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$1,899/mo
- Cash-on-cash
- −13.4%
- Cap rate
- 3.3%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $383,174
- Rent that breaks even
- $7,085/mo
Long run
- Year 30: property vs stocks
- $1.70M vs $2.74M
- Cash flow turns positive
- year 27
The deal
- Price
- $740,000
- Cash to close
- $170,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$2,293/mo
- Cash-on-cash
- −16.2%
- Cap rate
- 2.7%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $309,262
- Rent that breaks even
- $7,947/mo
Long run
- Year 30: property vs stocks
- $1.69M vs $3.35M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $730,000
- Cash to close
- $167,900
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$1,846/mo
- Cash-on-cash
- −13.2%
- Cap rate
- 3.4%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $383,174
- Rent that breaks even
- $7,017/mo
Long run
- Year 30: property vs stocks
- $1.68M vs $2.67M
- Cash flow turns positive
- year 27
The deal
- Price
- $730,000
- Cash to close
- $167,900
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$2,239/mo
- Cash-on-cash
- −16.0%
- Cap rate
- 2.7%
- DSCR
- 0.42×
Break-even
- Price that breaks even
- $309,262
- Rent that breaks even
- $7,870/mo
Long run
- Year 30: property vs stocks
- $1.67M vs $3.27M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $740,000
- Cash to close
- $207,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$1,653/mo
- Cash-on-cash
- −9.6%
- Cap rate
- 3.3%
- DSCR
- 0.55×
Break-even
- Price that breaks even
- $408,719
- Rent that breaks even
- $6,769/mo
Long run
- Year 30: property vs stocks
- $1.71M vs $2.76M
- Cash flow turns positive
- year 25
The deal
- Price
- $740,000
- Cash to close
- $207,200
- Price per unit
- $370,000
- GRM
- 13.3
Each month
- Cash flow
- −$2,046/mo
- Cash-on-cash
- −11.9%
- Cap rate
- 2.7%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $329,879
- Rent that breaks even
- $7,593/mo
Long run
- Year 30: property vs stocks
- $1.69M vs $3.35M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $730,000
- Cash to close
- $204,400
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$1,603/mo
- Cash-on-cash
- −9.4%
- Cap rate
- 3.4%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $408,719
- Rent that breaks even
- $6,705/mo
Long run
- Year 30: property vs stocks
- $1.69M vs $2.69M
- Cash flow turns positive
- year 24
The deal
- Price
- $730,000
- Cash to close
- $204,400
- Price per unit
- $365,000
- GRM
- 13.1
Each month
- Cash flow
- −$1,997/mo
- Cash-on-cash
- −11.7%
- Cap rate
- 2.7%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $329,879
- Rent that breaks even
- $7,521/mo
Long run
- Year 30: property vs stocks
- $1.67M vs $3.27M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$4,431 |
| PMI | −$416 |
| Cash flow | −$2,808 |
| Principal paid down (equity, not cash) | $564 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$4,431 |
| PMI | −$416 |
| Cash flow | −$3,201 |
| Principal paid down (equity, not cash) | $564 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$4,371 |
| PMI | −$411 |
| Cash flow | −$2,742 |
| Principal paid down (equity, not cash) | $556 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$4,371 |
| PMI | −$411 |
| Cash flow | −$3,136 |
| Principal paid down (equity, not cash) | $556 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$3,939 |
| Cash flow | −$1,899 |
| Principal paid down (equity, not cash) | $501 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$3,939 |
| Cash flow | −$2,293 |
| Principal paid down (equity, not cash) | $501 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$3,885 |
| Cash flow | −$1,846 |
| Principal paid down (equity, not cash) | $494 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$3,885 |
| Cash flow | −$2,239 |
| Principal paid down (equity, not cash) | $494 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$3,692 |
| Cash flow | −$1,653 |
| Principal paid down (equity, not cash) | $470 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$3,692 |
| Cash flow | −$2,046 |
| Principal paid down (equity, not cash) | $470 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Net operating income | $2,039 |
| Mortgage (principal + interest) | −$3,643 |
| Cash flow | −$1,603 |
| Principal paid down (equity, not cash) | $463 |
| Rent | $4,650 |
| Vacancy (6%) | −$279 |
| Collected | $4,371 |
| Property tax Public record | −$1,144 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$372 |
| Capital reserve (8% of rent) | −$372 |
| Property management | −$393 |
| Net operating income | $1,646 |
| Mortgage (principal + interest) | −$3,643 |
| Cash flow | −$1,997 |
| Principal paid down (equity, not cash) | $463 |
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
- $1,688,404
- Rental profits, invested at 7%
- $0
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $666,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $732,299
- Monthly shortfalls, invested
- $2,125,264
$96,200 put into an index fund instead of the down payment and closing costs.
$527,904 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,169,159 ahead after 30 years.
- Your equity when you sell
- $1,688,404
- Rental profits, invested at 7%
- $0
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $666,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $732,299
- Monthly shortfalls, invested
- $2,737,181
$96,200 put into an index fund instead of the down payment and closing costs.
$752,492 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,781,076 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $0
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $657,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $722,403
- Monthly shortfalls, invested
- $2,055,651
$94,900 put into an index fund instead of the down payment and closing costs.
$506,078 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,112,466 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $0
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $657,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $722,403
- Monthly shortfalls, invested
- $2,667,568
$94,900 put into an index fund instead of the down payment and closing costs.
$730,666 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,724,383 ahead after 30 years.
- Your equity when you sell
- $1,688,404
- Rental profits, invested at 7%
- $7,570
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $592,000 of loan.
$7,229 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,295,606
- Monthly shortfalls, invested
- $1,445,977
$170,200 put into an index fund instead of the down payment and closing costs.
$337,916 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,045,610 ahead after 30 years.
- Your equity when you sell
- $1,688,404
- Rental profits, invested at 7%
- $0
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $592,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,295,606
- Monthly shortfalls, invested
- $2,050,325
$170,200 put into an index fund instead of the down payment and closing costs.
$555,275 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,657,527 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $10,405
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $584,000 of loan.
$9,784 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,278,098
- Monthly shortfalls, invested
- $1,388,482
$167,900 put into an index fund instead of the down payment and closing costs.
$321,310 you'd have paid in while the building lost money, invested instead.
Stocks come out $990,586 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $0
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $584,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,278,098
- Monthly shortfalls, invested
- $1,989,994
$167,900 put into an index fund instead of the down payment and closing costs.
$536,115 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,602,503 ahead after 30 years.
- Your equity when you sell
- $1,688,404
- Rental profits, invested at 7%
- $23,977
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $555,000 of loan.
$21,509 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,577,259
- Monthly shortfalls, invested
- $1,183,352
$207,200 put into an index fund instead of the down payment and closing costs.
$263,578 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,048,232 ahead after 30 years.
- Your equity when you sell
- $1,688,404
- Rental profits, invested at 7%
- $0
Sells for $1,796,174 (value up 3% a year), minus 6% selling cost ($107,770). Rent paid down $555,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,577,259
- Monthly shortfalls, invested
- $1,771,293
$207,200 put into an index fund instead of the down payment and closing costs.
$466,657 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,660,148 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $28,499
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $547,500 of loan.
$25,261 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,555,945
- Monthly shortfalls, invested
- $1,131,314
$204,400 put into an index fund instead of the down payment and closing costs.
$249,367 you'd have paid in while the building lost money, invested instead.
Stocks come out $993,173 ahead after 30 years.
- Your equity when you sell
- $1,665,588
- Rental profits, invested at 7%
- $0
Sells for $1,771,902 (value up 3% a year), minus 6% selling cost ($106,314). Rent paid down $547,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,555,945
- Monthly shortfalls, invested
- $1,714,733
$204,400 put into an index fund instead of the down payment and closing costs.
$448,694 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,605,090 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 $1.69M, stocks $2.86M. Stocks win.
Year 30 (loan paid off): property $1.69M, stocks $3.47M. Stocks win.
Year 30 (loan paid off): property $1.67M, stocks $2.78M. Stocks win.
Year 30 (loan paid off): property $1.67M, stocks $3.39M. Stocks win.
Year 30 (loan paid off): property $1.70M, stocks $2.74M. Stocks win.
Year 30 (loan paid off): property $1.69M, stocks $3.35M. Stocks win.
Year 30 (loan paid off): property $1.68M, stocks $2.67M. Stocks win.
Year 30 (loan paid off): property $1.67M, stocks $3.27M. Stocks win.
Year 30 (loan paid off): property $1.71M, stocks $2.76M. Stocks win.
Year 30 (loan paid off): property $1.69M, stocks $3.35M. Stocks win.
Year 30 (loan paid off): property $1.69M, stocks $2.69M. Stocks win.
Year 30 (loan paid off): property $1.67M, stocks $3.27M. 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.
3 bed estimate $2,325/mo · range $1,900–$2,900 · 12 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 4429 Nicollet Ave, Minneapolis | $1,999 | 3 / 1 | 0.8 mi |
| 3520 Dupont Level Ave S Unit Lower, Minneapolis | $2,595 | 3 / 1 | 0.8 mi |
| 3552 Irving Ave S, Minneapolis | $2,795 | 3 / 2 | 0.9 mi |
| 3229 Hennepin Ave S, Minneapolis | $2,395 | 3 / 1 | 1.2 mi |
| 3329 Nicollet Ave Unit A, Minneapolis | $2,499 | 3 / 2.5 | 1.2 mi |
| 5005 Oliver Ave S Unit 2, Minneapolis | $2,850 | 3 / — | 1.3 mi |
| 3208 Blaisdell Ave Apt 3, Minneapolis | $1,750 | 3 / 1 | 1.3 mi |
| 4412 Washburn Ave S # 2, Minneapolis | $2,950 | 3 / 2 | 1.3 mi |
| 705 W 31st St, Minneapolis | $1,775 | 3 / 1 | 1.3 mi |
| 3336 4th Ave S Apt 4, Minneapolis | $1,595 | 3 / 1 | 1.4 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
- highTaxes of $13.7K on a non-homestead basis eat most of the income Based on: data: county.tax · AI review
- mediumAsking is $356,826 above the price where cash flow breaks even ($383,174) at the default scenario. Based on: Derived: price $740,000 vs. break-even $383,174
- mediumOnly 'one newer boiler' mentioned for a two-unit building; the other boiler's age is unknown, and it is unclear if heat is one system or two Listing says: one newer boiler · AI review
- mediumListing pitches lifestyle and owner-occupant appeal, with no rents, leases or expenses given Listing says: Ideal for owner occupants and investors. · AI review
- lowRental license is an owner-exempt type; confirm the license status carries over to a new owner and what inspections are required Based on: data: city.rental_license · AI review
Opportunities
- Minneapolis has no rent cap, so rents can follow the market after a refresh Based on: data: underwriting.rent_rule · AI review
- Four garage stalls could be rented separately or help justify higher unit rents Listing says: a brand-new 2-car garage for each unit (4 stalls total) · AI review
- Oversized lot and a prime location near the lake and Rose Garden support long-term value and tenant demand Listing says: Just 1.5 blocks from the Rose Garden and less than two blocks from Lake Harriet. · AI review
Questions for the agent
- Are the units occupied now, and what are the rents, lease terms and security deposits?
- Is there one boiler or two, and how old is the one that isn't new?
- What do heat, water and common-area utilities cost per year, and who pays them?
- What is the electrical service and panel type in each unit?
- Has the owner-exempt rental license been inspected, and will it transfer to a new owner?
- Why was it listed at $740K, and is the seller open to offers given 35 days on market?
Bottom line
Beautiful building in a great location, but at $740K it loses about $1,900 a month as a rental, so it only works for an owner-occupant or at a far lower price. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $13,733 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,558 |
| 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 2026-08-31 (35 days); down $35,000 (4.5%) from the first ask of $775,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $740,000 | |
| Listed | $775,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1931 |
| Market value (2026) | $723,100 |
| Property tax | $13,733 |
| Special assessments | none |
| Homestead | no |
| Last sale | — |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
I 35W, about 1332 m away.
Crime in East Harriet
159 incidents in the last 12 months (44 per 1,000 residents), +25% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).