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501 Newton Ave N

Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,278 sq ft

Minneapolis, MN · Harrison · View the listing ↗

Cash flows
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Photos, via Realtor.com.

Asking price
$325,000
2 units · $162K per unit
Monthly cash flow
$273
at 20% down, 7%
Estimated rent
$3,700/mo
medium confidence
Break-even price
$376,247
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a Minneapolis up/down duplex asking $325K, and at that price it makes about $273 a month at 20% down by our numbers. Our rent estimates are $1,850 for each 3-bed unit, right in line with the listing's ~$1,800 per unit pitch, and the break-even price is about $376K. The listing gives no actual rents, leases, repairs or utility details, so the 1% rule talk is only a pitch. Photos show hardwood floors and original woodwork, but only one interior room per unit type is shown and no kitchens, baths, basement or mechanicals. Get the rent roll, the rental license status and the heating setup first. The numbers can cash flow at ask if the rents are real, but verify them before touring. Tour if the rent roll and repair picture hold up, or if you plan to live in one unit.

Things to consider

  1. Price is below what the rents support At ask the deal runs about +$273 a month and the break-even is about $376K. The cushion is real but thin if repairs or vacancy run high.
  2. Listing rent claim is close to our estimates The ~$1,800 per unit figure is a marketing number; our estimate is $1,850 per unit. The math only holds if actual rents and leases match.Listing says: “See Supplements for RentOMeter rental analysis of ~$1,800/unit”
  3. Rental license is not on file An unlicensed rental can mean inspection findings and delays before you can legally rent. It could also mean it's been owner-occupied.
  4. Kitchens, baths and mechanicals are unseen On a 1909 building these drive repair costs and insurability. Window AC units and radiators suggest older systems.From photo 6
  5. Seller's gain since 2016 The seller paid $200K in 2016, and the county values it near the ask. Check how much improvement the gain reflects and whether there is room to negotiate.
  6. Owner-occupant path is a good fit A house hack at owner-occupant financing can lower down payment and interest costs, and the homestead tax applies.Listing says: “owner-occupant looking to house hack”

From the photos

Listing photo 5
1 of 7Plus

Original hardwood floors and wood staircase with stained-glass window appear in good shape; strong character.

Listing photo 6
2 of 7Plus

Rooms are bright and large with hardwood floors that look refinished or well kept.

Listing photo 6
3 of 7Check

Window air conditioners and a radiator are visible, suggesting no central AC and possibly radiator heat despite 'forced air' in the records.

Listing photo 7
4 of 7Plus

Stacked washer/dryer appears in a room off the main living space, which supports the in-unit laundry claim.

Listing photo 1
5 of 7Concern

Siding and trim appear older, with peeling or worn paint at the corners and porch, and the screened porch looks weathered. Budget exterior paint and porch repair.

Listing photo 2
6 of 7Check

Downspout drains onto the ground at the side of the house, and the yard grades near the foundation should be checked for water issues.

Listing photo 1
7 of 7Check

No photos of kitchens, bathrooms, basement, furnace, water heater or electrical panel, which are the biggest cost items.

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

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
$325,000
Cash to close
$74,750
Price per unit
$162,500
GRM
7.3

Each month

Cash flow
$273/mo
Cash-on-cash
4.4%
Cap rate
7.4%
DSCR
1.16×

Break-even

Price that breaks even
$376,247
Rent that breaks even
$3,346/mo

Long run

Year 30: property vs stocks
$1.82M vs $569K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$3,700
Vacancy (6%)−$222
Collected$3,478
Property tax Listing−$399
Insurance Estimate−$217
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$296
Capital reserve (9% of rent)−$333
Net operating income$2,003
Mortgage (principal + interest)−$1,730
Cash flow$273
Principal paid down (equity, not cash)$220

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$1,817,771
Your equity when you sell
$741,528

Sells for $788,860 (value up 3% a year), minus 6% selling cost ($47,332). Rent paid down $260,000 of loan.

Rental profits, invested at 7%
$1,076,243

$479,430 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$569,016
Cash to close, invested at 7%
$569,016

$74,750 put into an index fund instead of the down payment and closing costs.

The building comes out $1,248,755 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 $1.82M, stocks $569K. 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 / 1 bath estimate $1,850/mo · range $1,725–$2,000

AddressRentBd / BaSq ftDistanceListedMatch
1702 Glenwood Ave, Minneapolis 55405 off market $1,525 3 / 1 — 0.2 mi 2026-04-30 94%
1823 Girard Ave N, Minneapolis 55411 off market $1,650 3 / 1 — 1.1 mi 2025-11-15 92%
1500 W Broadway Ave, Unit 3, Minneapolis 55411 off market $1,700 3 / 1 — 1.2 mi 2026-05-07 92%
1500 W Broadway Ave, Unit 2, Minneapolis 55411 off market $1,700 3 / 1 — 1.2 mi 2026-05-07 92%
1616 Emerson Ave N, Minneapolis 55411 off market $1,648 3 / 1 1,600 1.1 mi 2026-04-17 91%
1611 Glenwood Ave, Apt 2, Minneapolis 55405 off market $1,995 3 / 2 1,800 0.3 mi 2026-09-29 90%
1510 22nd Ave N, Minneapolis 55411 off market $1,670 3 / 1 1,500 1.4 mi 2026-05-07 90%
1917 N Newton Ave, Unit 1919, Minneapolis 55411 off market $1,850 3 / 1 1,378 1.2 mi 2024-07-20 89%
1917 Newton Ave N, Fl 1, Minneapolis 55411 off market $1,840 3 / 1 1,375 1.2 mi 2024-11-04 89%
2112 5th Ave N, Unit 1, Minneapolis 55405 $1,595 3 / 1 1,200 0.1 mi 2026-10-04 89%

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

  • highPriced far above the $243K break-even; negative cash flow at ask. Based on: data: underwriting.break_even_price · AI review
  • mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 501 NEWTON AVE N
  • mediumListing pitches $1,800 per unit from a third-party tool, with no actual rents or leases given. Our estimates are lower. Listing says: See Supplements for RentOMeter rental analysis of ~$1,800/unit · AI review
  • mediumTaxes are on a homestead basis; an investor will likely pay a higher non-homestead bill. Based on: data: county.homestead · AI review

Opportunities

  • Minneapolis has no rent cap, so rents can rise to market after turnover or a refresh. Based on: data: underwriting.rent_rule · AI review
  • House-hack option: live in one unit and rent the other to cut your cost. Listing says: Live in one unit while renting the other · AI review

Questions for the agent

  • Are there current tenants? What are the rents, lease terms and security deposits?
  • Is the building licensed as a rental in Minneapolis, and when was it last inspected?
  • How is each unit heated and who pays for heat, water and trash? Are there separate meters?
  • What are the roof, furnace, water heater and electrical panel ages?
  • What is the actual bed/bath split for each unit, and are the basement or attic spaces finished and legal?
  • Why was it listed at $325K when the seller paid $200K in 2016, and is there room to negotiate?

Bottom line

Nice-looking old duplex, and $325K is about $51K below what our rents support, so it can work as an investment if the rents and condition check out. 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.$4,791
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,606
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 1909: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-09-25 (10 days); last sold for $200,000 on 2016-09-08.

DateEventPrice
Listed$325,000
Sold public record$200,000
Sold$128,000
Listed$113,900

County record Public record

Recorded asduplex
Living units2
Year built1909
Market value (2026)$325,200
Property tax$4,791
Special assessmentsnone
Homesteadno
Last sale2016-08-01 · $200,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 394 EXPR, about 1395 m away.

Crime in Harrison

245 incidents in the last 12 months (76 per 1,000 residents), +27% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).