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50 Arthur Ave SE

Duplex · 2 units: 4 bed and 2 bed · 2,290 sq ft

Minneapolis, MN · Prospect Park - East River Road · View the listing ↗

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

Asking price
$450,000
2 units · $225K per unit
Monthly cash flow
−$234
at 20% down, 7%
Estimated rent
$4,225/mo
high confidence · 19 rentals within 1.5 mi
Break-even price
$406,101
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 2-unit Minneapolis duplex near the U of M asking $450K. Our underwriting shows about -$195/month at the ask, a 5.9% cap rate, and a break-even price near $413K. The description gives no rents, no lease status and no repair history, so the income side is all our estimate: about $2,600 for the 4-bed upper and $1,675 for the 2-bed lower. The photos show original-style hardwoods and dated kitchens. Get the rent roll, the heat setup and the roof and mechanical ages first. At this price it only looks worth a showing if the seller will come down toward $410K.

Things to consider

  1. Price is above what the rents support The deal loses about $195 a month at the ask. Only a lower price or higher verified rents fix that.
  2. Rents are unverified Our estimates are $2,600 for the upper and $1,675 for the lower. Real rents could be higher or lower, and that decides the deal.
  3. Confirm the heat setup Separate heat per unit would put heating costs on tenants. A shared boiler would put them on you.Listing says: “Each unit has separate heat and gas.”
  4. The 4-bed upper may have the more varied tenant pool Large units near a university rent well to groups but see heavy wear and turnover. Budget extra for repairs.Listing says: “The upper unit features 4 bedrooms and 1.5 bathrooms”
  5. Dated kitchens give room for value-add Updating both kitchens could support higher rents, but it adds cost that the current numbers do not include.From photo 9

From the photos

Listing photo 1
1 of 6Plus

Hardwood floors, built-ins and radiators appear to be in good condition in the upper unit's main rooms

Listing photo 3
2 of 6Concern

Kitchen has a basic laminate-type floor, butcher-block island and older black appliances; it looks dated but usable

Listing photo 9
3 of 6Concern

The second kitchen has older light-wood cabinets and sheet flooring, so it looks original or aged

Listing photo 5
4 of 6Check

One bathroom has a small corner shower and appears updated; the other has a tub with tile surround and a pedestal-style sink that looks older

Listing photo 10
5 of 6Check

Exterior is painted siding with a gravel driveway; the paint looks okay, but the roof and foundation are not visible

Listing photo 8
6 of 6Check

Radiators are visible, which means hot-water heat; no boiler, panel or water heater photos were provided

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 2-stall garageListing says: A newer 2 stall garage and 3 off-street parking spots add value

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

Down payment %
Offer $
Management
Interest rate %
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
$450,000
Cash to close
$103,500
Price per unit
$225,000
GRM
8.9

Each month

Cash flow
−$234/mo
Cash-on-cash
−2.7%
Cap rate
5.8%
DSCR
0.90×

Break-even

Price that breaks even
$406,101
Rent that breaks even
$4,528/mo

Long run

Year 30: property vs stocks
$1.62M vs $834K
Cash flow turns positive
year 5

Monthly

Monthly breakdown

Rent$4,225
Vacancy (6%)−$254
Collected$3,972
Property tax Listing−$644
Insurance Estimate−$217
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$338
Capital reserve (9% of rent)−$380
Net operating income$2,161
Mortgage (principal + interest)−$2,395
Cash flow−$234
Principal paid down (equity, not cash)$305

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$1,619,227
Your equity when you sell
$1,026,732

Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $360,000 of loan.

Rental profits, invested at 7%
$592,495

$325,580 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$833,700
Cash to close, invested at 7%
$787,868

$103,500 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$45,831

$6,863 you'd have paid in while the building lost money, invested instead.

The building comes out $785,527 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 $1.62M, stocks $834K. The property wins.

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.

4 bed estimate $2,500/mo · range $2,325–$2,750 · 19 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
2622 Essex St SE, Minneapolis $2,895 4 / 2 1,400 0.2 mi 2025-09-27 Apartment
633 Ontario St SE, Minneapolis $2,600 4 / 2 — 0.5 mi 2026-01-13 Apartment
857 23rd Ave SE, Minneapolis $2,250 4 / 2 1,910 1.1 mi 2026-07-13 Duplex triplex
874 23rd Ave SE, Minneapolis $2,295 4 / 2 1,700 1.1 mi 2026-07-13 Duplex triplex
915 22nd Ave SE, Minneapolis $2,495 4 / 2 1,200 1.3 mi 2026-09-30 Apartment
917 22nd Ave SE, Minneapolis $2,400 4 / 2 1,800 1.3 mi 2026-09-30 Apartment
2310 Como Ave SE, Minneapolis $2,550 4 / 2 1,600 1.3 mi 2026-09-30 Apartment
2312 Como Ave SE, Minneapolis $2,550 4 / 2 1,600 1.3 mi 2026-09-30 Apartment
932/934/936/938 15th Ave SE, Minneapolis $3,045 4 / 4 1,400 1.3 mi 2026-09-26 Apartment
958 15th Ave SE, Minneapolis $2,100 4 / 2 — 1.4 mi 2026-09-25 Apartment

2 bed estimate $1,725/mo · range $1,500–$1,950 · 20 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
485 Malcolm Ave SE, Minneapolis $2,489 2 / 2 1,087 0.3 mi 2025-11-18 Apartment
624 Huron Blvd SE, Minneapolis $1,425 2 / 1 900 0.4 mi 2025-12-16 Apartment
3400 University Ave SE, Minneapolis $1,849 2 / 1.5 997 0.4 mi 2026-04-15 Apartment
808 Berry St, Saint Paul $2,260 2 / 2 1,076 0.6 mi 2026-09-03 Apartment
940 Franklin Ter, Minneapolis $1,450 2 / 1 755 0.7 mi 2024-06-11 Apartment
811 28th Ave S, Minneapolis $1,400 2 / 1 — 0.8 mi 2026-05-20 Apartment
301 SE Saint Anthony Ave, Minneapolis $1,300 2 / 1 850 0.9 mi 2024-04-12 Apartment
2520 S 8th St, Minneapolis $1,737 2 / 1 692 1.0 mi 2026-05-21 Apartment
2329 27th Ave S Apt 4, Minneapolis $1,800 2 / 1 1,020 1.1 mi 2026-09-22 Apartment
2323 Charles Ave, Saint Paul $2,300 2 / 2 955 1.1 mi 2024-04-12 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

  • highNegative cash flow at asking price; price is about $37K above break-even Based on: data: underwriting.break_even_price · AI review
  • mediumNo rents or lease terms given, so income is unverified Based on: data: rent_estimate · AI review
  • mediumDescription says 'separate heat and gas' but the county lists hot-water heat, which often means a boiler. Confirm there are really two systems. Listing says: Each unit has separate heat and gas. · AI review
  • low1911 building with radiators and mixed-age kitchens; wiring and plumbing age unknown Based on: photo 8 · AI review

Opportunities

  • Separate heat and gas should mean tenants carry their own utilities, which limits owner expenses Listing says: Each unit has separate heat and gas. · AI review
  • Minneapolis has no rent cap, so rents can follow the market after updates Based on: data: underwriting.rent_rule · AI review
  • Near the U of M and light rail, with off-street parking and a garage, which helps tenant demand Listing says: A newer 2 stall garage and 3 off-street parking spots add value · AI review

Questions for the agent

  • What are the current rents, lease end dates and security deposits for each unit?
  • Is each unit on its own boiler or furnace, and how old are they?
  • How old are the roof, electrical panel and water heaters?
  • Is the lower unit legally a 2-bed, and does the rental license match?
  • Why is the seller selling, and is the property owner-occupied now?
  • What do the tenants pay for water, sewer and trash?

Bottom line

Good location and a solid structure, but at $450K it loses money on our numbers, so it only works with a lower price or rents above 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.$7,732
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,610
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. built 1911: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-09-20 (15 days); last sold for $241,100 on 2010-06-24.

DateEventPrice
Listed$450,000
Sold public record$241,100

County record Public record

Recorded asduplex
Living units2
Year built1911
Market value (2026)$500,800
Property tax$7,732
Special assessmentsnone
Homesteadno
Last sale2010-06-01 · $241,100

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 378 m away.

Crime in Prospect Park - East River Road

378 incidents in the last 12 months (33 per 1,000 residents), −6% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).