4162 Adair Ave N

Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 3,604 sq ft

26 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $439,900
Monthly cash flow: −$197
Estimated rent: $4,050/mo
Break-even price: $402,903

Adjust the numbers See the full breakdown

From the listing

Property is currently rented and cleanly maintained. Discover updated duplex in the heart of Robbinsdale with easy access to Highway 100, metro bus services, shopping, restaurants, faith centers etc. This duplex is designed for excellent rental and/or owner occupancy. This duplex feature recent major upgrades in both units. The front unit features two bedrooms, 1 bathroom, kitchen, and a living room on the main level. The lower level offers the third bedroom, three quarter bathroom, family room area, bonus room, and laundry. The rear unit features two bedrooms, one bathroom, kitchen with dining area, and living room. The lower level offers a nice third bedroom, three quarter bath, finished family room, and large laundry room. This duplex has a detached 2 car garage with off site parking. Set near parks and priced to sell, this residence combines comfort, convenience and value.

Listing courtesy of RE/MAX Results (Scott Housman). Description from Realtor.com, MLS #7079020. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1959 Robbinsdale duplex with a 3-bed/2-bath layout in each unit, asking $439,900. Our underwriting at 20% down shows about -$197 a month and a 5.8% cap rate. Break-even price is about $402,903, so it needs roughly $37K off to work. The listing gives no rents, no lease terms, no tax figure and no utility details, and we couldn't match a county parcel. Get the rent roll, leases and real tax bill first. At 132 days on market there is room to negotiate. Worth a showing only if the price comes down or the actual rents beat our $2,025 estimate.

Things to consider

At asking price the deal loses money Our underwriting shows about -$197 a month and a 5.8% cap rate. Break-even is about $402,903, so the price has to drop to work.
Rents are unknown Without a rent roll you can't tell whether current rents are near our $2,025 per-unit estimate. Check them against leases.Listing says: “Property is currently rented and cleanly maintained.”
Upgrades look cosmetic in the photos Kitchens and baths look mostly dated. Ask what 'major upgrades' means and budget for roof, mechanicals and kitchens if not covered.From photo 4
Taxes aren't verified An investor pays non-homestead tax, which can be much higher than the listing's number. Confirm before trusting any cash flow.
Lower-level bedrooms need to be legal If the basement bedrooms lack egress, they can't count as bedrooms and would weaken the 3-bed rent assumption.Listing says: “The lower level offers a nice third bedroom, three quarter bath, finished family room, and large laundry room.”
Seller may be flexible It has been listed 132 days with motivated-seller language, so a lower offer is realistic.

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

doneRecent major upgrades in both units (details not given)Listing says: This duplex feature recent major upgrades in both units.

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: $439,900
Cash to close: $101,177
Price per unit: $219,950
GRM: 9.1

Each month

Cash flow: −$197/mo
Cash-on-cash: −2.3%
Cap rate: 5.8%
DSCR: 0.92×

Break-even

Price that breaks even: $402,903
Rent that breaks even: $4,302/mo

Long run

Year 30: property vs stocks: $1.63M vs $805K
Cash flow turns positive: year 5

Monthly

Monthly breakdown

Rent	$4,050
Vacancy (6%)	−$243
Collected	$3,807
Property tax Listing	−$560
Insurance Estimate	−$225
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$324
Capital reserve (8% of rent)	−$324
Net operating income	$2,144
Mortgage (principal + interest)	−$2,341
Cash flow	−$197
Principal paid down (equity, not cash)	$298

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$1,626,438

Your equity when you sell: $1,003,688
Rental profits, invested at 7%: $622,751

Same money in stocks$804,702

Cash to close, invested at 7%: $770,185
Monthly shortfalls, invested: $34,517

The building comes out $821,736 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 $1.63M, stocks $805K. 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.

3 bed / 2 bath estimate $2,025/mo · range $1,625–$2,425

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
7300 Bass Lake Rd, New, Hope 55428	$1,379	3 / 2	1,600	1.9 mi	2026-07-17	84%
4101 Lowry Ave N, Robbinsdale 55422 off market	$1,950	3 / 2	3,128	1.7 mi	2026-02-24	80%
3547 3547/3549 Halifax Ave, # N3549, Robbinsdal… off market	$1,995	3 / 1	1,450	1.4 mi	2026-05-16	79%
3833 Oregon Ave N, New, Hope 55427 off market	$1,650	2 / 1	—	1.0 mi	2026-07-09	78%
3927 W Broadway Ave, Robbinsdale 55422	$1,250	2 / 1	—	1.1 mi	2026-02-04	78%
3246 Douglas Dr N, Apt 1, Crystal 55422 off market	$1,390	2 / 1	—	1.1 mi	2026-04-02	78%
3045 Grimes Ave N, Robbinsdale 55422	$1,850	3 / 1	1,400	1.9 mi	2026-09-15	78%
3500 Kyle Ave N Unit A, Minneapolis 55422 off market	$2,250	3 / 2	—	1.3 mi	2025-12-15	78%
4229-4231 Unity Ave N, Robbinsdale 55912 off market	$2,000	3 / 1	1,000	0.4 mi	2026-07-16	77%
4741 Welcome Ave N, Crystal 55429 off market	$2,700	4 / 3.5	2,800	0.7 mi	2026-03-06	77%

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

highNo rents, lease terms or tenant details are given, so income can't be verified. Listing says: Property is currently rented and cleanly maintained. · AI review
mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 4162 ADAIR AVE N
mediumTaxes and legal unit count are unverified because no county parcel matched. Based on: data: county.tax · AI review
mediumThird bedrooms and bonus rooms are in the lower levels. Egress and legal bedroom status need checking, and so does the rental license. Listing says: The lower level offers the third bedroom, three quarter bathroom, family room area, bonus room, and laundry. · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 132 days on market
Motivated-seller language: room to negotiate. Listing says: "with off site parking. Set near parks and priced to sell , this residence combines comfort, convenience and value."
Price is about $44K above break-even and the listing has sat 132 days with push language, so there is room to negotiate. Based on: data: underwriting.break_even_price · AI review
No rent cap in Robbinsdale, so rents can move to market if current rents are low. Based on: data: underwriting.rent_rule · AI review
Detached 2-car garage and in-unit laundry in each unit support rents. Listing says: This duplex has a detached 2 car garage with off site parking. · AI review

Questions for the agent

What are the current rents, lease end dates and deposits for each unit?
What were the 'major upgrades', when were they done, and were permits pulled?
What are the real property taxes, and are there any special assessments?
Are the lower-level bedrooms legal, with egress windows, and is the rental license current?
Who pays heat, water and electric, and are there separate meters and furnaces?
Why has it sat 132 days, and have there been price cuts or offers?

Bottom line

A duplex with decent bones and unit layouts, but at $439,900 it loses money, so the price needs to come down to around $403K or the rents need to beat our estimate. 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.	$6,714
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,701
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 2026-05-26 (132 days); down $30,000 (6.4%) from the first ask of $469,900; last sold for $161,000 on 2016-08-10.

Date	Event	Price
2026-07-31	Price changed	$439,900
2026-07-08	Price changed	$449,900
2026-06-25	Relisted	$469,900
2026-06-24	Removed	—
2026-05-26	Listed	$469,900
2016-08-10	Sold public record	$161,000
1985-10-01	Sold public record	$73,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$6,714
County	Hennepin
Parcel number	1611821230012

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Robbinsdale on rental licensing before you buy.