5636 Cedar Ave S
Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 2,815 sq ft
Minneapolis, MN · Diamond Lake · View the listing ↗
Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.
- Asking price
- $529,900 2 units · $265K per unit
- Monthly cash flow
- −$689 at 20% down, 7%
- Break-even price
- $400,493 where cash flow hits $0
First look
This is a clean, well-kept side-by-side near Lake Nokomis, but the numbers don't work at $529,900. Our rent estimate is about $2,025 per side, cash flow is about -$729 a month and the cap rate is 4.7%. The county values it at $450,200 and the last sale was $304,000 in 2004, so the ask looks stretched. No rents are stated, so get the rent roll, leases and a year of utility bills before anything else. Worth a showing only if you plan to live in one side and the price comes down a lot.
Things to consider
- Price does not match income At ask, cash flow is deeply negative and the cap rate is about 4.7%. Break-even is around $393K, far below the ask.
- Rents are unverified Estimates are about $2,025 per side but no actual rents are given. Get the rent roll before relying on any figure.
- Taxes are at the non-homestead rate Investor tax is about $8,500 a year, which eats a large share of rent.
- Cedar Avenue traffic noise The property is very close to a busy road, which can lower rents and slow leasing.
- Updated kitchens and separate utilities help operations Recent kitchens and tenant-paid heat and electric lower owner costs and improve rentability.Listing says: “Utilities are split, with tenants paying separate heat and electricity.”
- Unseen systems and bathrooms may need money Photos show dated bathrooms and skip mechanicals, so budget for inspection findings.From photo 10
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
- doneKitchen remodel on the 5636 side (2016)Listing says: The 5636 side offers a kitchen remodeled in 2016
- doneKitchen update on the 5638 side (2023)Listing says: The 5638 side boasts a beautifully updated kitchen from 2023
- doneMAC energy updates (windows, doors, attic insulation, typically)Listing says: This duplex has been MAC updated, with improvements that typically include upgraded windows, doors, and attic insulation
- doneNew carpeting over oak hardwood in living roomsListing says: classic oak hardwood floors preserved under brand-new living room carpeting
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
- $529,900
- Cash to close
- $68,887
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$1,339/mo
- Cash-on-cash
- −23.3%
- Cap rate
- 4.8%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $325,423
- Rent that breaks even
- $5,774/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $1.17M
- Cash flow turns positive
- year 16
The deal
- Price
- $529,900
- Cash to close
- $68,887
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$1,686/mo
- Cash-on-cash
- −29.4%
- Cap rate
- 4.0%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $272,469
- Rent that breaks even
- $6,457/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $1.58M
- Cash flow turns positive
- year 24
The deal
- Price
- $519,900
- Cash to close
- $67,587
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$1,274/mo
- Cash-on-cash
- −22.6%
- Cap rate
- 4.9%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $325,423
- Rent that breaks even
- $5,692/mo
Long run
- Year 30: property vs stocks
- $1.37M vs $1.11M
- Cash flow turns positive
- year 16
The deal
- Price
- $519,900
- Cash to close
- $67,587
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$1,621/mo
- Cash-on-cash
- −28.8%
- Cap rate
- 4.1%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $272,469
- Rent that breaks even
- $6,365/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $1.50M
- Cash flow turns positive
- year 23
The deal
- Price
- $529,900
- Cash to close
- $121,877
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$689/mo
- Cash-on-cash
- −6.8%
- Cap rate
- 4.8%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $400,493
- Rent that breaks even
- $4,961/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $1.21M
- Cash flow turns positive
- year 12
The deal
- Price
- $529,900
- Cash to close
- $121,877
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$1,036/mo
- Cash-on-cash
- −10.2%
- Cap rate
- 4.0%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $335,324
- Rent that breaks even
- $5,548/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $1.54M
- Cash flow turns positive
- year 19
The deal
- Price
- $519,900
- Cash to close
- $119,577
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$636/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 4.9%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $400,493
- Rent that breaks even
- $4,894/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $1.16M
- Cash flow turns positive
- year 11
The deal
- Price
- $519,900
- Cash to close
- $119,577
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$982/mo
- Cash-on-cash
- −9.9%
- Cap rate
- 4.1%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $335,324
- Rent that breaks even
- $5,473/mo
Long run
- Year 30: property vs stocks
- $1.29M vs $1.48M
- Cash flow turns positive
- year 18
The deal
- Price
- $529,900
- Cash to close
- $148,372
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$512/mo
- Cash-on-cash
- −4.1%
- Cap rate
- 4.8%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $427,193
- Rent that breaks even
- $4,741/mo
Long run
- Year 30: property vs stocks
- $1.60M vs $1.30M
- Cash flow turns positive
- year 10
The deal
- Price
- $529,900
- Cash to close
- $148,372
- Price per unit
- $264,950
- GRM
- 10.8
Each month
- Cash flow
- −$859/mo
- Cash-on-cash
- −7.0%
- Cap rate
- 4.0%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $357,678
- Rent that breaks even
- $5,301/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $1.59M
- Cash flow turns positive
- year 16
The deal
- Price
- $519,900
- Cash to close
- $145,572
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$463/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 4.9%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $427,193
- Rent that breaks even
- $4,678/mo
Long run
- Year 30: property vs stocks
- $1.60M vs $1.26M
- Cash flow turns positive
- year 9
The deal
- Price
- $519,900
- Cash to close
- $145,572
- Price per unit
- $259,950
- GRM
- 10.6
Each month
- Cash flow
- −$809/mo
- Cash-on-cash
- −6.7%
- Cap rate
- 4.1%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $357,678
- Rent that breaks even
- $5,231/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $1.53M
- Cash flow turns positive
- year 16
Monthly
Monthly breakdown
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$3,173 |
| PMI | −$298 |
| Cash flow | −$1,339 |
| Principal paid down (equity, not cash) | $404 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$3,173 |
| PMI | −$298 |
| Cash flow | −$1,686 |
| Principal paid down (equity, not cash) | $404 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$3,113 |
| PMI | −$292 |
| Cash flow | −$1,274 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$3,113 |
| PMI | −$292 |
| Cash flow | −$1,621 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$2,820 |
| Cash flow | −$689 |
| Principal paid down (equity, not cash) | $359 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$2,820 |
| Cash flow | −$1,036 |
| Principal paid down (equity, not cash) | $359 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$2,767 |
| Cash flow | −$636 |
| Principal paid down (equity, not cash) | $352 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$2,767 |
| Cash flow | −$982 |
| Principal paid down (equity, not cash) | $352 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$2,644 |
| Cash flow | −$512 |
| Principal paid down (equity, not cash) | $336 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$2,644 |
| Cash flow | −$859 |
| Principal paid down (equity, not cash) | $336 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Net operating income | $2,132 |
| Mortgage (principal + interest) | −$2,594 |
| Cash flow | −$463 |
| Principal paid down (equity, not cash) | $330 |
| Rent | $4,100 |
| Vacancy (6%) | −$246 |
| Collected | $3,854 |
| Property tax Public record | −$710 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$287 |
| Capital reserve (7% of rent) | −$287 |
| Property management | −$347 |
| Net operating income | $1,785 |
| Mortgage (principal + interest) | −$2,594 |
| Cash flow | −$809 |
| Principal paid down (equity, not cash) | $330 |
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
- $1,209,034
- Rental profits, invested at 7%
- $169,646
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $476,910 of loan.
$123,899 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $524,385
- Monthly shortfalls, invested
- $648,509
$68,887 put into an index fund instead of the down payment and closing costs.
$119,287 you'd have paid in while the building lost money, invested instead.
The building comes out $205,786 ahead after 30 years.
- Your equity when you sell
- $1,209,034
- Rental profits, invested at 7%
- $33,626
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $476,910 of loan.
$29,244 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $524,385
- Monthly shortfalls, invested
- $1,052,029
$68,887 put into an index fund instead of the down payment and closing costs.
$222,655 you'd have paid in while the building lost money, invested instead.
Stocks come out $333,754 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $187,702
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $467,910 of loan.
$134,677 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $514,489
- Monthly shortfalls, invested
- $596,952
$67,587 put into an index fund instead of the down payment and closing costs.
$108,239 you'd have paid in while the building lost money, invested instead.
The building comes out $262,478 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $40,987
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $467,910 of loan.
$34,985 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $514,489
- Monthly shortfalls, invested
- $989,777
$67,587 put into an index fund instead of the down payment and closing costs.
$206,571 you'd have paid in while the building lost money, invested instead.
Stocks come out $277,062 ahead after 30 years.
- Your equity when you sell
- $1,209,034
- Rental profits, invested at 7%
- $298,727
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $423,920 of loan.
$195,116 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $927,759
- Monthly shortfalls, invested
- $285,745
$121,877 put into an index fund instead of the down payment and closing costs.
$49,280 you'd have paid in while the building lost money, invested instead.
The building comes out $294,257 ahead after 30 years.
- Your equity when you sell
- $1,209,034
- Rental profits, invested at 7%
- $90,575
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $423,920 of loan.
$70,501 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $927,759
- Monthly shortfalls, invested
- $617,133
$121,877 put into an index fund instead of the down payment and closing costs.
$122,689 you'd have paid in while the building lost money, invested instead.
Stocks come out $245,283 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $323,511
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $415,920 of loan.
$207,502 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $910,251
- Monthly shortfalls, invested
- $250,198
$119,577 put into an index fund instead of the down payment and closing costs.
$42,506 you'd have paid in while the building lost money, invested instead.
The building comes out $349,279 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $102,537
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $415,920 of loan.
$78,404 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $910,251
- Monthly shortfalls, invested
- $568,765
$119,577 put into an index fund instead of the down payment and closing costs.
$111,432 you'd have paid in while the building lost money, invested instead.
Stocks come out $190,260 ahead after 30 years.
- Your equity when you sell
- $1,209,034
- Rental profits, invested at 7%
- $387,313
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $397,425 of loan.
$237,879 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,129,446
- Monthly shortfalls, invested
- $174,522
$148,372 put into an index fund instead of the down payment and closing costs.
$28,585 you'd have paid in while the building lost money, invested instead.
The building comes out $292,379 ahead after 30 years.
- Your equity when you sell
- $1,209,034
- Rental profits, invested at 7%
- $134,394
Sells for $1,286,206 (value up 3% a year), minus 6% selling cost ($77,172). Rent paid down $397,425 of loan.
$98,477 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,129,446
- Monthly shortfalls, invested
- $461,143
$148,372 put into an index fund instead of the down payment and closing costs.
$87,207 you'd have paid in while the building lost money, invested instead.
Stocks come out $247,160 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $416,592
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $389,925 of loan.
$251,036 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,108,131
- Monthly shortfalls, invested
- $147,240
$145,572 put into an index fund instead of the down payment and closing costs.
$23,779 you'd have paid in while the building lost money, invested instead.
The building comes out $347,438 ahead after 30 years.
- Your equity when you sell
- $1,186,218
- Rental profits, invested at 7%
- $149,440
Sells for $1,261,934 (value up 3% a year), minus 6% selling cost ($75,716). Rent paid down $389,925 of loan.
$107,458 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,108,131
- Monthly shortfalls, invested
- $419,629
$145,572 put into an index fund instead of the down payment and closing costs.
$78,226 you'd have paid in while the building lost money, invested instead.
Stocks come out $192,102 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 $1.38M, stocks $1.17M. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $1.58M. Stocks win.
Year 30 (loan paid off): property $1.37M, stocks $1.11M. The property wins.
Year 30 (loan paid off): property $1.23M, stocks $1.50M. Stocks win.
Year 30 (loan paid off): property $1.51M, stocks $1.21M. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $1.54M. Stocks win.
Year 30 (loan paid off): property $1.51M, stocks $1.16M. The property wins.
Year 30 (loan paid off): property $1.29M, stocks $1.48M. Stocks win.
Year 30 (loan paid off): property $1.60M, stocks $1.30M. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $1.59M. Stocks win.
Year 30 (loan paid off): property $1.60M, stocks $1.26M. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $1.53M. 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 $2,050/mo · range $1,975–$2,275 · 6 rentals within 3 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 5100 Bloomington Ave S, Minneapolis | $1,900 | 3 / 1 | 0.8 mi |
| 5320 Lyndale Ave S, Minneapolis | $1,999 | 3 / 2 | 2.0 mi |
| 4429 Nicollet Ave, Minneapolis | $1,999 | 3 / 1 | 2.1 mi |
| 6401 Lyndale Ave S, Richfield | $2,500 | 3 / 2 | 2.1 mi |
| 8162 Bloomington Ave S, Bloomington | $2,125 | 3 / 1.5 | 3.0 mi |
| 6365 Sibley Ave, Fort Snelling | $1,925 | 3 / 2 | 3.0 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
- mediumAbout 49 m from CR 152: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (CR 152) at 49 m
- mediumNo current rents or lease terms in the listing, so income is unverified Based on: data: rent_estimate · AI review
- mediumAsking price is well above county market value Based on: data: county.market_value · AI review
- lowListing is vague on what the MAC updates actually included; scope and dates are unclear Listing says: improvements that typically include upgraded windows, doors, and attic insulation · AI review
Opportunities
- Minneapolis has no rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
- Detached 3-car garage is rare for a duplex and could be rented separately or used as a perk Listing says: The property features a rare, detached three-car garage equipped with automatic openers · AI review
- Separate heat and electric, central air and laundry for each side keep the units independent Listing says: Each side includes its own central air and private lower-level laundry room. · AI review
- Owner-occupant option: live in one side and rent the other Listing says: offering an incredible opportunity for owner-occupants or investors · AI review
Questions for the agent
- What are the current rents and lease end dates for each side, and can I see the leases?
- Are both sides occupied, and was either tenant given notice?
- What did the MAC updates cover, and when were they done?
- How old are the furnaces, water heaters, roof and electrical panels?
- Are the lower-level bedroom and basement baths permitted and legal with egress?
- Why is the ask $80K above county value, and have you seen offers?
Bottom line
Nice, low-maintenance duplex in a good spot, but $529,900 is far above what these rents support, so only negotiate if the price drops sharply. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $8,517 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,504 |
| 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. "fully updated" in the description: -1 pts each | 7% / 7% |
Price history Realtor.com
On the market since 2026-09-15 (20 days); down $25,100 (4.5%) from the first ask of $555,000; last sold for $304,000 on 2004-09-13.
| Date | Event | Price |
|---|---|---|
| Listed | $529,900 | |
| Removed | $549,000 | |
| Price changed | $549,000 | |
| Listed | $555,000 | |
| Sold public record | $304,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1950 |
| Market value (2026) | $450,200 |
| Property tax | $8,517 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2004-08-01 · $304,000 |
Source: Hennepin County parcel records.
City rental license
CHOWNEXMPT: 2 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
CR 152, about 49 m away.
Crime in Diamond Lake
123 incidents in the last 12 months (21 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).