616 Monroe St NE
Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 2,151 sq ft
Minneapolis, MN · St. Anthony East · View the listing ↗
Photos courtesy of Edina Realty, Inc., via Realtor.com.
- Asking price
- $385,000 2 units · $192K per unit
- Monthly cash flow
- −$327 at 20% down, 7%
- Estimated rent
- $3,475/mo medium confidence
- Break-even price
- $323,591 where cash flow hits $0
First look
This is a 5-bed Minneapolis duplex asking $385K, the same price the seller paid in December 2024 after 276 days on market, so there's no sign the seller is giving anything back yet. Our numbers show about -$327/month at the ask and a 5.4% cap rate, and the break-even price is below ask, so it doesn't work at today's rates unless the price drops meaningfully. The description gives no rents, no roof or mechanical ages, and contradicts itself on heat: county data says hot water, the photos show radiators, yet the listing says the upper unit has separate forced air. Sort out the heating and who pays for it first, then get the rent roll and rental license status. Only worth a showing if the seller is near our break-even number or the actual rents beat our estimates.
Things to consider
- Price is above what the rents support At the ask the model loses money monthly, and break-even is about $324K. Financing at today's rates makes it worse.
- Rents and leases are unknown Without a rent roll you can't verify income. Our estimates are about $1,775 for the 3-bed and $1,700 for the 2-bed.
- Heating system and who pays it If the owner pays boiler gas it adds a large cost; if each unit has its own system, you also have two systems to maintain.Listing says: “Each unit is separately metered for gas and electric and paid by tenants.”
- Rental license is missing in city data An unlicensed building can mean inspection items, fees, or delays before you can rent legally.
- Age and condition of the building A 1900 build with worn siding and aged roof sections suggests exterior and mechanical capex that isn't in the listing.From photo 3
- Taxes will likely rise for an investor Taxes of $5,498 are on a homestead basis; an investor typically pays a higher non-homestead rate, which cuts cash flow further.
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 updates to both units (unspecified)Listing says: This property features two units with recent updates.
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
- $385,000
- Cash to close
- $50,050
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$800/mo
- Cash-on-cash
- −19.2%
- Cap rate
- 5.4%
- DSCR
- 0.68×
Break-even
- Price that breaks even
- $262,936
- Rent that breaks even
- $4,513/mo
Long run
- Year 30: property vs stocks
- $1.11M vs $697K
- Cash flow turns positive
- year 12
The deal
- Price
- $385,000
- Cash to close
- $50,050
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$1,094/mo
- Cash-on-cash
- −26.2%
- Cap rate
- 4.5%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $218,054
- Rent that breaks even
- $5,070/mo
Long run
- Year 30: property vs stocks
- $939K vs $988K
- Cash flow turns positive
- year 20
The deal
- Price
- $375,000
- Cash to close
- $48,750
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$734/mo
- Cash-on-cash
- −18.1%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $262,936
- Rent that breaks even
- $4,428/mo
Long run
- Year 30: property vs stocks
- $1.11M vs $645K
- Cash flow turns positive
- year 11
The deal
- Price
- $375,000
- Cash to close
- $48,750
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$1,028/mo
- Cash-on-cash
- −25.3%
- Cap rate
- 4.6%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $218,054
- Rent that breaks even
- $4,975/mo
Long run
- Year 30: property vs stocks
- $929K vs $921K
- Cash flow turns positive
- year 19
The deal
- Price
- $385,000
- Cash to close
- $88,550
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$327/mo
- Cash-on-cash
- −4.4%
- Cap rate
- 5.4%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $323,591
- Rent that breaks even
- $3,899/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $769K
- Cash flow turns positive
- year 8
The deal
- Price
- $385,000
- Cash to close
- $88,550
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$621/mo
- Cash-on-cash
- −8.4%
- Cap rate
- 4.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $268,356
- Rent that breaks even
- $4,381/mo
Long run
- Year 30: property vs stocks
- $1.00M vs $989K
- Cash flow turns positive
- year 15
The deal
- Price
- $375,000
- Cash to close
- $86,250
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$274/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 5.5%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $323,591
- Rent that breaks even
- $3,830/mo
Long run
- Year 30: property vs stocks
- $1.25M vs $727K
- Cash flow turns positive
- year 7
The deal
- Price
- $375,000
- Cash to close
- $86,250
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$568/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $268,356
- Rent that breaks even
- $4,303/mo
Long run
- Year 30: property vs stocks
- $1.00M vs $929K
- Cash flow turns positive
- year 14
The deal
- Price
- $385,000
- Cash to close
- $107,800
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$199/mo
- Cash-on-cash
- −2.2%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $345,164
- Rent that breaks even
- $3,733/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $861K
- Cash flow turns positive
- year 6
The deal
- Price
- $385,000
- Cash to close
- $107,800
- Price per unit
- $192,500
- GRM
- 9.2
Each month
- Cash flow
- −$493/mo
- Cash-on-cash
- −5.5%
- Cap rate
- 4.5%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $286,247
- Rent that breaks even
- $4,194/mo
Long run
- Year 30: property vs stocks
- $1.05M vs $1.04M
- Cash flow turns positive
- year 13
The deal
- Price
- $375,000
- Cash to close
- $105,000
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$149/mo
- Cash-on-cash
- −1.7%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $345,164
- Rent that breaks even
- $3,668/mo
Long run
- Year 30: property vs stocks
- $1.35M vs $824K
- Cash flow turns positive
- year 5
The deal
- Price
- $375,000
- Cash to close
- $105,000
- Price per unit
- $187,500
- GRM
- 9.0
Each month
- Cash flow
- −$443/mo
- Cash-on-cash
- −5.1%
- Cap rate
- 4.6%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $286,247
- Rent that breaks even
- $4,121/mo
Long run
- Year 30: property vs stocks
- $1.05M vs $981K
- Cash flow turns positive
- year 12
Monthly
Monthly breakdown
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$2,305 |
| PMI | −$217 |
| Cash flow | −$800 |
| Principal paid down (equity, not cash) | $293 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$2,305 |
| PMI | −$217 |
| Cash flow | −$1,094 |
| Principal paid down (equity, not cash) | $293 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$2,245 |
| PMI | −$211 |
| Cash flow | −$734 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$2,245 |
| PMI | −$211 |
| Cash flow | −$1,028 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$2,049 |
| Cash flow | −$327 |
| Principal paid down (equity, not cash) | $261 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$2,049 |
| Cash flow | −$621 |
| Principal paid down (equity, not cash) | $261 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$274 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$568 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$1,921 |
| Cash flow | −$199 |
| Principal paid down (equity, not cash) | $244 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$1,921 |
| Cash flow | −$493 |
| Principal paid down (equity, not cash) | $244 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Net operating income | $1,722 |
| Mortgage (principal + interest) | −$1,871 |
| Cash flow | −$149 |
| Principal paid down (equity, not cash) | $238 |
| Rent | $3,475 |
| Vacancy (6%) | −$208 |
| Collected | $3,266 |
| Property tax Listing | −$509 |
| Insurance Estimate | −$214 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$278 |
| Capital reserve (9% of rent) | −$313 |
| Property management | −$294 |
| Net operating income | $1,428 |
| Mortgage (principal + interest) | −$1,871 |
| Cash flow | −$443 |
| Principal paid down (equity, not cash) | $238 |
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
- $878,426
- Rental profits, invested at 7%
- $227,589
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $346,500 of loan.
$150,474 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $380,993
- Monthly shortfalls, invested
- $316,477
$50,050 put into an index fund instead of the down payment and closing costs.
$53,810 you'd have paid in while the building lost money, invested instead.
The building comes out $408,545 ahead after 30 years.
- Your equity when you sell
- $878,426
- Rental profits, invested at 7%
- $60,972
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $346,500 of loan.
$48,520 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $380,993
- Monthly shortfalls, invested
- $607,153
$50,050 put into an index fund instead of the down payment and closing costs.
$119,694 you'd have paid in while the building lost money, invested instead.
Stocks come out $48,748 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $254,691
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $337,500 of loan.
$164,193 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $371,097
- Monthly shortfalls, invested
- $273,966
$48,750 put into an index fund instead of the down payment and closing costs.
$45,704 you'd have paid in while the building lost money, invested instead.
The building comes out $465,238 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $73,282
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $337,500 of loan.
$56,884 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $371,097
- Monthly shortfalls, invested
- $549,849
$48,750 put into an index fund instead of the down payment and closing costs.
$106,232 you'd have paid in while the building lost money, invested instead.
The building comes out $7,945 ahead after 30 years.
- Your equity when you sell
- $878,426
- Rental profits, invested at 7%
- $363,608
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $308,000 of loan.
$214,371 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $674,065
- Monthly shortfalls, invested
- $95,144
$88,550 put into an index fund instead of the down payment and closing costs.
$15,101 you'd have paid in while the building lost money, invested instead.
The building comes out $472,824 ahead after 30 years.
- Your equity when you sell
- $878,426
- Rental profits, invested at 7%
- $125,961
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $308,000 of loan.
$89,590 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $674,065
- Monthly shortfalls, invested
- $314,791
$88,550 put into an index fund instead of the down payment and closing costs.
$58,158 you'd have paid in while the building lost money, invested instead.
The building comes out $15,531 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $399,275
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $300,000 of loan.
$229,385 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $656,557
- Monthly shortfalls, invested
- $70,480
$86,250 put into an index fund instead of the down payment and closing costs.
$10,955 you'd have paid in while the building lost money, invested instead.
The building comes out $527,848 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $144,149
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $300,000 of loan.
$99,937 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $656,557
- Monthly shortfalls, invested
- $272,648
$86,250 put into an index fund instead of the down payment and closing costs.
$49,344 you'd have paid in while the building lost money, invested instead.
The building comes out $70,554 ahead after 30 years.
- Your equity when you sell
- $878,426
- Rental profits, invested at 7%
- $454,476
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $288,750 of loan.
$251,522 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $820,601
- Monthly shortfalls, invested
- $40,841
$107,800 put into an index fund instead of the down payment and closing costs.
$6,147 you'd have paid in while the building lost money, invested instead.
The building comes out $471,460 ahead after 30 years.
- Your equity when you sell
- $878,426
- Rental profits, invested at 7%
- $173,138
Sells for $934,496 (value up 3% a year), minus 6% selling cost ($56,070). Rent paid down $288,750 of loan.
$115,614 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $820,601
- Monthly shortfalls, invested
- $216,796
$107,800 put into an index fund instead of the down payment and closing costs.
$38,077 you'd have paid in while the building lost money, invested instead.
The building comes out $14,168 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $495,363
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $281,250 of loan.
$267,047 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $799,287
- Monthly shortfalls, invested
- $25,167
$105,000 put into an index fund instead of the down payment and closing costs.
$3,709 you'd have paid in while the building lost money, invested instead.
The building comes out $526,519 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $194,864
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $281,250 of loan.
$126,797 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $799,287
- Monthly shortfalls, invested
- $181,962
$105,000 put into an index fund instead of the down payment and closing costs.
$31,296 you'd have paid in while the building lost money, invested instead.
The building comes out $69,226 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 $1.11M, stocks $697K. The property wins.
Year 30 (loan paid off): property $939K, stocks $988K. Stocks win.
Year 30 (loan paid off): property $1.11M, stocks $645K. The property wins.
Year 30 (loan paid off): property $929K, stocks $921K. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $769K. The property wins.
Year 30 (loan paid off): property $1.00M, stocks $989K. The property wins.
Year 30 (loan paid off): property $1.25M, stocks $727K. The property wins.
Year 30 (loan paid off): property $1.00M, stocks $929K. The property wins.
Year 30 (loan paid off): property $1.33M, stocks $861K. The property wins.
Year 30 (loan paid off): property $1.05M, stocks $1.04M. The property wins.
Year 30 (loan paid off): property $1.35M, stocks $824K. The property wins.
Year 30 (loan paid off): property $1.05M, stocks $981K. 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 / 1.5 bath estimate $1,775/mo · range $1,575–$2,000
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 650 Pierce St NE, Unit 2, Minneapolis 55413 off market | $1,850 | 3 / 2 | 0.6 mi | 95% |
| 629 6th St SE, Minneapolis 55414 off market | $2,050 | 3 / 1 | 0.8 mi | 94% |
| 1226 Adams St NE, Minneapolis 55413 | $2,049 | 3 / 1 | 0.4 mi | 93% |
| 410 5th St NE, Minneapolis 55413 | $1,650 | 3 / 1 | 0.3 mi | 91% |
| 1326 Monroe St NE, Unit 2, Minneapolis 55413 off market | $1,970 | 3 / 1 | 0.4 mi | 91% |
| 601 Main St NE, Apt 3, Minneapolis 55413 off market | $1,795 | 3 / 1 | 0.5 mi | 91% |
| 414 8th St SE, Minneapolis 55414 off market | $1,500 | 3 / 1 | 0.5 mi | 91% |
| 430 8th St SE, Minneapolis 55414 | $1,400 | 3 / 1 | 0.6 mi | 91% |
| 742 Buchanan St NE, Minneapolis 55413 | $1,700 | 3 / 1 | 0.6 mi | 91% |
| 415 4th St SE, Minneapolis 55414 | $1,600 | 3 / 1 | 0.7 mi | 91% |
2 bed / 1.5 bath estimate $1,700/mo · range $1,400–$2,000
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 600 Buchanan St NE, Minneapolis 55413 off market | $1,100 | 2 / 1 | 0.6 mi | 91% |
| 620 Buchanan St NE, Minneapolis 55413 off market | $1,525 | 2 / 1 | 0.6 mi | 91% |
| 1704 Jefferson St NE, Units 2 & 655, Minneapoli… off market | $1,550 | 2 / 1 | 0.7 mi | 91% |
| 515 5th St SE, Apt 2, Minneapolis 55414 off market | $1,295 | 2 / 1 | 0.7 mi | 91% |
| 1823 Quincy St NE, Minneapolis 55418 off market | $1,650 | 2 / 1 | 0.8 mi | 90% |
| 1222 2nd St NE, Minneapolis 55413 | $2,299 | 2 / 2 | 0.7 mi | 89% |
| 524 8th Ave NE, Minneapolis 55413 off market | $1,645 | 2 / 1 | 0.3 mi | 87% |
| 1704 Jefferson St NE, Minneapolis 55413 off market | $1,600 | 2 / 1 | 0.7 mi | 86% |
| 650 Pierce St NE, Unit 2, Minneapolis 55413 off market | $1,850 | 3 / 2 | 0.6 mi | 86% |
| 1401 3rd St NE, Apt 3, Minneapolis 55413 off market | $1,650 | 2 / 1 | 0.7 mi | 85% |
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
- 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 616 MONROE ST N E
- mediumHeating description conflicts with county data and photos; unclear whether there are one or two systems Listing says: the upper unit offers two bedrooms, spacious living/dining room and separate forced air heating · AI review
- mediumSeller is asking what they paid 14 months ago, and no discount has been offered after 9 months listed Based on: data: listing.days_on_market · AI review
- lowSiding and trim look worn, and the electrical service appears dated, so exterior and electrical condition need review Based on: photo 3 · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 279 days on market, 1 price cuts
- Nine months on market and a flat price history suggest room to negotiate hard Based on: data: listing.days_on_market · AI review
- Minneapolis has no rent cap, so rents can rise after any needed work Based on: data: underwriting.rent_rule · AI review
- Separate gas and electric meters mean tenants pay their own utilities Listing says: Each unit is separately metered for gas and electric and paid by tenants. · AI review
Questions for the agent
- What are the current rents, lease end dates, and are any tenants month-to-month?
- Is there a Minneapolis rental license, and when was the last inspection?
- Is heat one boiler or two systems? Who pays for it, given the radiators and the 'separate forced air' note?
- What were the 'recent updates', and when were the roof, boiler, water heater and electrical panel last replaced?
- Why has it sat 276 days, and has the seller entertained offers below ask?
- Is there a 2024 inspection report from the seller's purchase?
Bottom line
At $385K it loses roughly $327 a month in our model, so it only works at a lower price. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $6,110 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,572 |
| 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 1900: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2025-12-30 (279 days); last sold for $385,000 on 2025-01-29.
| Date | Event | Price |
|---|---|---|
| Listed | $385,000 | |
| Sold public record | $385,000 | |
| Listed | $389,900 | |
| Sold | $385,000 | |
| Listed | $389,900 | |
| Sold | $60,800 | |
| Removed | $53,900 | |
| Listed | $53,900 | |
| Sold public record | $220,000 | |
| Sold public record | $55,500 | |
| Sold public record | $55,500 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $367,400 |
| Property tax | $5,498 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2024-12-01 · $385,000 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 35W, about 1105 m away.
Crime in St. Anthony East
98 incidents in the last 12 months (45 per 1,000 residents), +18% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).