5921 Chicago Ave S
Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 2,695 sq ft
Minneapolis, MN · Diamond Lake · View the listing ↗
Photos courtesy of Lakes Area Realty - South - Broker, via Realtor.com.
Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.
- Asking price
- $557,000 2 units · $278K per unit
- Monthly cash flow
- −$789 at 20% down, 7%
- Estimated rent
- $4,150/mo medium confidence
- Break-even price
- $408,684 where cash flow hits $0
First look
This is a clean, well-kept 1947 side-by-side in Diamond Lake, but at $557K it doesn't pencil. Our underwriting shows about -$790/month at 20% down and a 4.7% cap rate, and break-even price is roughly $409K, so the ask is about $148K too high. The listing says both units are leased but gives no rents, lease terms or end dates, so get the rent roll first. Our rent estimates ($2,200 for the 3-bed, $1,950 for the 2-bed) are untested. The city rental license covers only one unit, so confirm the second is licensed. The photos show a nicely updated kitchen and bath, which is good for holding but gives little room to add value. Worth a showing only if the seller moves toward the low $400Ks or the rents are strong.
Things to consider
- Price is above what the rents support Negative monthly cash flow at 20% down means you fund the property from other income. A price near break-even is the starting point for any offer.
- Rents are not stated Our estimates are modeled, not actual. The real rent roll could be well above or below them, which moves the whole analysis.Listing says: “two leased residences today”
- Rental license covers one unit An unlicensed second unit can limit your ability to rent it legally or require a new license and inspection.
- Homestead tax understates your tax bill The current $7,508 is on a homestead basis. A non-homestead rate would likely be higher and cut cash flow further.
- Condition looks good, so there is limited value-add Updated kitchen and bath suggest low near-term capex, but also little room to force rent growth beyond market.From photo 3
- Owner-occupant angle Living in one unit may be the best way to make this work, but existing leases may delay move-in.Listing says: “the possibility of living in one while renting the other when the existing leases allow”
From the photos
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
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
- $557,000
- Cash to close
- $72,410
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$1,473/mo
- Cash-on-cash
- −24.4%
- Cap rate
- 4.7%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $332,078
- Rent that breaks even
- $6,039/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $1.30M
- Cash flow turns positive
- year 17
The deal
- Price
- $557,000
- Cash to close
- $72,410
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$1,824/mo
- Cash-on-cash
- −30.2%
- Cap rate
- 3.9%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $278,479
- Rent that breaks even
- $6,773/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $1.72M
- Cash flow turns positive
- year 24
The deal
- Price
- $547,000
- Cash to close
- $71,110
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$1,408/mo
- Cash-on-cash
- −23.8%
- Cap rate
- 4.8%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $332,078
- Rent that breaks even
- $5,955/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $1.23M
- Cash flow turns positive
- year 17
The deal
- Price
- $547,000
- Cash to close
- $71,110
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$1,759/mo
- Cash-on-cash
- −29.7%
- Cap rate
- 4.0%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $278,479
- Rent that breaks even
- $6,679/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $1.64M
- Cash flow turns positive
- year 24
The deal
- Price
- $557,000
- Cash to close
- $128,110
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$789/mo
- Cash-on-cash
- −7.4%
- Cap rate
- 4.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $408,684
- Rent that breaks even
- $5,162/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $1.33M
- Cash flow turns positive
- year 13
The deal
- Price
- $557,000
- Cash to close
- $128,110
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$1,140/mo
- Cash-on-cash
- −10.7%
- Cap rate
- 3.9%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $342,720
- Rent that breaks even
- $5,790/mo
Long run
- Year 30: property vs stocks
- $1.35M vs $1.68M
- Cash flow turns positive
- year 20
The deal
- Price
- $547,000
- Cash to close
- $125,810
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$736/mo
- Cash-on-cash
- −7.0%
- Cap rate
- 4.8%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $408,684
- Rent that breaks even
- $5,094/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $1.27M
- Cash flow turns positive
- year 12
The deal
- Price
- $547,000
- Cash to close
- $125,810
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$1,087/mo
- Cash-on-cash
- −10.4%
- Cap rate
- 4.0%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $342,720
- Rent that breaks even
- $5,714/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $1.61M
- Cash flow turns positive
- year 19
The deal
- Price
- $557,000
- Cash to close
- $155,960
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$604/mo
- Cash-on-cash
- −4.6%
- Cap rate
- 4.7%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $435,930
- Rent that breaks even
- $4,925/mo
Long run
- Year 30: property vs stocks
- $1.63M vs $1.41M
- Cash flow turns positive
- year 11
The deal
- Price
- $557,000
- Cash to close
- $155,960
- Price per unit
- $278,500
- GRM
- 11.2
Each month
- Cash flow
- −$955/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 3.9%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $365,568
- Rent that breaks even
- $5,524/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $1.72M
- Cash flow turns positive
- year 17
The deal
- Price
- $547,000
- Cash to close
- $153,160
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$554/mo
- Cash-on-cash
- −4.3%
- Cap rate
- 4.8%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $435,930
- Rent that breaks even
- $4,861/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $1.36M
- Cash flow turns positive
- year 10
The deal
- Price
- $547,000
- Cash to close
- $153,160
- Price per unit
- $273,500
- GRM
- 11.0
Each month
- Cash flow
- −$905/mo
- Cash-on-cash
- −7.1%
- Cap rate
- 4.0%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $365,568
- Rent that breaks even
- $5,452/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $1.66M
- Cash flow turns positive
- year 17
Monthly
Monthly breakdown
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$3,335 |
| PMI | −$313 |
| Cash flow | −$1,473 |
| Principal paid down (equity, not cash) | $424 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$3,335 |
| PMI | −$313 |
| Cash flow | −$1,824 |
| Principal paid down (equity, not cash) | $424 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$3,275 |
| PMI | −$308 |
| Cash flow | −$1,408 |
| Principal paid down (equity, not cash) | $417 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$3,275 |
| PMI | −$308 |
| Cash flow | −$1,759 |
| Principal paid down (equity, not cash) | $417 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$2,965 |
| Cash flow | −$789 |
| Principal paid down (equity, not cash) | $377 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,965 |
| Cash flow | −$1,140 |
| Principal paid down (equity, not cash) | $377 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$2,911 |
| Cash flow | −$736 |
| Principal paid down (equity, not cash) | $370 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,911 |
| Cash flow | −$1,087 |
| Principal paid down (equity, not cash) | $370 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$2,779 |
| Cash flow | −$604 |
| Principal paid down (equity, not cash) | $354 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,779 |
| Cash flow | −$955 |
| Principal paid down (equity, not cash) | $354 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Net operating income | $2,175 |
| Mortgage (principal + interest) | −$2,729 |
| Cash flow | −$554 |
| Principal paid down (equity, not cash) | $347 |
| Rent | $4,150 |
| Vacancy (6%) | −$249 |
| Collected | $3,901 |
| Property tax Listing | −$626 |
| Insurance Estimate | −$206 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$332 |
| Capital reserve (8% of rent) | −$332 |
| Property management | −$351 |
| Net operating income | $1,824 |
| Mortgage (principal + interest) | −$2,729 |
| Cash flow | −$905 |
| Principal paid down (equity, not cash) | $347 |
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
- $1,270,866
- Rental profits, invested at 7%
- $152,673
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $501,300 of loan.
$114,183 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,203
- Monthly shortfalls, invested
- $744,401
$72,410 put into an index fund instead of the down payment and closing costs.
$139,624 you'd have paid in while the building lost money, invested instead.
The building comes out $127,934 ahead after 30 years.
- Your equity when you sell
- $1,270,866
- Rental profits, invested at 7%
- $28,107
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $501,300 of loan.
$24,876 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,203
- Monthly shortfalls, invested
- $1,165,955
$72,410 put into an index fund instead of the down payment and closing costs.
$250,756 you'd have paid in while the building lost money, invested instead.
Stocks come out $418,185 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $168,876
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $492,300 of loan.
$124,242 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $541,307
- Monthly shortfalls, invested
- $690,992
$71,110 put into an index fund instead of the down payment and closing costs.
$127,857 you'd have paid in while the building lost money, invested instead.
The building comes out $184,627 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $34,325
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $492,300 of loan.
$29,906 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $541,307
- Monthly shortfalls, invested
- $1,102,560
$71,110 put into an index fund instead of the down payment and closing costs.
$233,960 you'd have paid in while the building lost money, invested instead.
Stocks come out $361,492 ahead after 30 years.
- Your equity when you sell
- $1,270,866
- Rental profits, invested at 7%
- $275,572
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $445,600 of loan.
$184,685 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $975,206
- Monthly shortfalls, invested
- $350,302
$128,110 put into an index fund instead of the down payment and closing costs.
$61,680 you'd have paid in while the building lost money, invested instead.
The building comes out $220,930 ahead after 30 years.
- Your equity when you sell
- $1,270,866
- Rental profits, invested at 7%
- $81,151
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $445,600 of loan.
$64,508 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $975,206
- Monthly shortfalls, invested
- $702,000
$128,110 put into an index fund instead of the down payment and closing costs.
$141,942 you'd have paid in while the building lost money, invested instead.
Stocks come out $325,189 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $298,065
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $437,600 of loan.
$196,411 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $957,698
- Monthly shortfalls, invested
- $312,463
$125,810 put into an index fund instead of the down payment and closing costs.
$54,246 you'd have paid in while the building lost money, invested instead.
The building comes out $275,954 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $91,974
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $437,600 of loan.
$71,886 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $957,698
- Monthly shortfalls, invested
- $652,492
$125,810 put into an index fund instead of the down payment and closing costs.
$130,160 you'd have paid in while the building lost money, invested instead.
Stocks come out $270,166 ahead after 30 years.
- Your equity when you sell
- $1,270,866
- Rental profits, invested at 7%
- $360,477
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $417,750 of loan.
$227,399 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,187,207
- Monthly shortfalls, invested
- $225,178
$155,960 put into an index fund instead of the down payment and closing costs.
$37,692 you'd have paid in while the building lost money, invested instead.
The building comes out $218,958 ahead after 30 years.
- Your equity when you sell
- $1,270,866
- Rental profits, invested at 7%
- $122,928
Sells for $1,351,985 (value up 3% a year), minus 6% selling cost ($81,119). Rent paid down $417,750 of loan.
$92,051 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,187,207
- Monthly shortfalls, invested
- $533,749
$155,960 put into an index fund instead of the down payment and closing costs.
$102,782 you'd have paid in while the building lost money, invested instead.
Stocks come out $327,162 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $387,206
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $410,250 of loan.
$239,939 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,165,893
- Monthly shortfalls, invested
- $195,347
$153,160 put into an index fund instead of the down payment and closing costs.
$32,268 you'd have paid in while the building lost money, invested instead.
The building comes out $274,016 ahead after 30 years.
- Your equity when you sell
- $1,248,050
- Rental profits, invested at 7%
- $136,430
Sells for $1,327,713 (value up 3% a year), minus 6% selling cost ($79,663). Rent paid down $410,250 of loan.
$100,434 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,165,893
- Monthly shortfalls, invested
- $490,691
$153,160 put into an index fund instead of the down payment and closing costs.
$93,202 you'd have paid in while the building lost money, invested instead.
Stocks come out $272,104 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 $1.42M, stocks $1.30M. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $1.72M. Stocks win.
Year 30 (loan paid off): property $1.42M, stocks $1.23M. The property wins.
Year 30 (loan paid off): property $1.28M, stocks $1.64M. Stocks win.
Year 30 (loan paid off): property $1.55M, stocks $1.33M. The property wins.
Year 30 (loan paid off): property $1.35M, stocks $1.68M. Stocks win.
Year 30 (loan paid off): property $1.55M, stocks $1.27M. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $1.61M. Stocks win.
Year 30 (loan paid off): property $1.63M, stocks $1.41M. The property wins.
Year 30 (loan paid off): property $1.39M, stocks $1.72M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $1.36M. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $1.66M. Stocks win.
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 / 1.5 bath estimate $2,200/mo · range $1,850–$2,575
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 5406 Nokomis Ave, Minneapolis 55417 off market | $2,450 | 3 / 2 | 1.8 mi | 89% |
| 6050 Wentworth Ave S, Minneapolis 55419 off market | $2,495 | 3 / 2 | 0.9 mi | 86% |
| 33 Wentworth Ct E, Minneapolis 55419 off market | $1,921 | 3 / 2 | 0.9 mi | 83% |
| 5320 Lyndale Ave S, Minneapolis 55419 | $1,999 | 3 / 2 | 1.5 mi | 83% |
| 5704 Chicago Ave, Minneapolis 55417 off market | $1,860 | 2 / 2 | 0.2 mi | 82% |
| 4412 Portland Ave S, Minneapolis 55407 off market | $2,000 | 3 / 1 | 1.9 mi | 81% |
| 5120 Cedar Ave S, Minneapolis 55417 off market | $2,100 | 3 / 2 | 1.2 mi | 80% |
| 7100 Chicago Ave, Richfield 55423 off market | $1,350 | 2 / 1 | 1.4 mi | 80% |
| 6015 Elliot Ave S, Minneapolis 55417 off market | $2,650 | 3 / 2 | 0.1 mi | 80% |
| 4642 Bloomington Ave S, Minneapolis 55407 | $1,695 | 2 / 1 | 1.7 mi | 80% |
2 bed / 1.5 bath estimate $1,950/mo · range $1,725–$2,175
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 5704 Chicago Ave, Minneapolis 55417 off market | $1,860 | 2 / 2 | 0.2 mi | 91% |
| 7100 Chicago Ave, Richfield 55423 off market | $1,350 | 2 / 1 | 1.4 mi | 89% |
| 4642 Bloomington Ave S, Minneapolis 55407 | $1,695 | 2 / 1 | 1.7 mi | 89% |
| 4817 Columbus Ave, Minneapolis 55417 off market | $1,750 | 2 / 1 | 1.4 mi | 81% |
| 4815-4817 Columbus Ave, Minneapolis 55417 off market | $1,750 | 2 / 1 | 1.4 mi | 81% |
| 4536 Grand Ave S, Minneapolis 55419 off market | $2,095 | 2 / 1 | 2.0 mi | 81% |
| 5544 Chicago Ave S, Minneapolis 55417 off market | $1,350 | 2 / 1 | 0.5 mi | 81% |
| 6612 12th Ave S, Richfield 55423 off market | $1,405 | 2 / 1 | 0.9 mi | 81% |
| 4815 Nicollet Ave, Minneapolis 55419 off market | $1,795 | 2 / 1 | 1.6 mi | 80% |
| 4525 Nicollet Ave, Minneapolis 55419 off market | $1,595 | 2 / 1 | 1.9 mi | 80% |
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
- highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 5921 CHICAGO AVE, units=1
- highAsking price is well above the break-even price from our underwriting Based on: data: underwriting.break_even_price · AI review
- highNegative cash flow at 20% down at the asking price Based on: data: underwriting.cash_flow_monthly · AI review
- mediumLeases are mentioned but no rents or end dates are given; the buyer may not be able to occupy a unit soon Listing says: possibility of living in one while renting the other when the existing leases allow · AI review
- mediumCounty tax is on a homestead basis; an investor will likely pay a higher non-homestead bill Based on: data: county.homestead · AI review
Opportunities
- Detached two-stall garage adds parking and can bring garage rent or storage income Listing says: a detached two-stall garage adds parking and storage · AI review
- Owner-occupy one side and rent the other once leases allow, which could improve the numbers Listing says: the possibility of living in one while renting the other when the existing leases allow · AI review
- Finished lower-level family room at 5923 adds livable space that supports rent Listing says: with a lower-level family room for more space to spread out · AI review
Questions for the agent
- What are the current rents, lease end dates and security deposits for each unit?
- Is the second unit licensed as a rental? The city license lists only one unit.
- Who pays heat, electric, water and trash, and are there separate meters and furnaces?
- What are the ages of the roof, furnaces, water heaters and electrical panels?
- Is there any room to negotiate? Is the seller open to a price near $485K?
- Which unit has which bed and bath count, and is the lower level legal living space with egress?
Bottom line
Nice, well-kept side-by-side, but at $557K it loses about $790 a month and needs a price closer to $409K to work. 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. | $7,508 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,474 |
| 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 2026-10-01 (4 days); last sold for $409,300 on 2016-06-15; listed for rent at $1,600/mo on 2024-10-24.
| Date | Event | Price |
|---|---|---|
| Listed | $557,000 | |
| Removed | — | |
| Listed for rent | $1,600/mo | |
| Sold public record | $409,300 | |
| Sold | $319,900 | |
| Price changed | $319,900 | |
| Price changed | $324,900 | |
| Sold public record | $215,000 | |
| Listed | $329,900 | |
| Sold | $199,900 | |
| Relisted | $199,900 | |
| Removed | $199,900 | |
| Listed | $199,900 | |
| Removed | $219,900 | |
| Price changed | $219,900 | |
| Removed | $244,900 | |
| Price changed | $224,900 | |
| Price changed | $237,900 | |
| Listed | $244,900 | |
| Price changed | $260,000 | |
| Price changed | $270,000 | |
| Relisted | $299,900 | |
| Removed | $299,900 | |
| Listed | $309,900 | |
| Sold public record | $115,000 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1947 |
| Market value (2026) | $489,100 |
| Property tax | $7,508 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2016-06-01 · $409,300 |
Source: Hennepin County parcel records.
City rental license
CHOWN: 1 unit(s), Tier 1, status active, renews 2027-03-01.
Nearest highway
MN 62, about 513 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).