6909 36th Ave N

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath · 1,584 sq ft

22 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $369,900
Monthly cash flow: −$222
Estimated rent: $3,450/mo
Break-even price: $328,218

Adjust the numbers See the full breakdown

First look

This is a side-by-side duplex with a 3-bed and a 2-bed unit, built in 1960 and listed two days ago at $369,900. Our underwriting at the asking price with 20% down shows about -$222 a month and a 5.67% cap rate. Break-even price is around $328K, so it doesn't work at today's rates unless the price comes down. Both kitchens and baths look original, so expect to pay for updates before you can push rents toward our estimates of $1,825 and $1,625. The listing gives no rents, lease status, utilities or system ages, so get those first. The basement finishing idea is the seller's pitch, not income, and I would not pay for it. Worth a showing only if the seller will meet the break-even price.

Things to consider

Negative cash flow at asking price Our underwriting shows about -$222 a month at ask. The price needs to fall toward $328K to break even.
Dated interiors limit near-term rent growth Original kitchens and baths mean you will likely spend on updates before reaching the mid-range rents. Budget for turnover work.From photo 5
Rents and expenses are unknown With no stated rents or utility details, you can't confirm income. Current rents may be well under our estimates.
Basement finishing is a pitch, not income Adding bedrooms requires egress, permits and money, and may not raise rents enough to justify the cost.Listing says: “The large unfinished basements could easily be finished for 2 additional bedrooms and a full bath.”
No rent cap in Crystal Rents can rise with the market after improvements, which helps if you buy at the right price.

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: $369,900
Cash to close: $85,077
Price per unit: $184,950
GRM: 8.9

Each month

Cash flow: −$222/mo
Cash-on-cash: −3.1%
Cap rate: 5.7%
DSCR: 0.89×

Break-even

Price that breaks even: $328,218
Rent that breaks even: $3,734/mo

Long run

Year 30: property vs stocks: $1.29M vs $697K
Cash flow turns positive: year 6

Monthly

Monthly breakdown

Rent	$3,450
Vacancy (6%)	−$207
Collected	$3,243
Property tax Listing	−$531
Insurance Estimate	−$183
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$276
Capital reserve (8% of rent)	−$276
Net operating income	$1,747
Mortgage (principal + interest)	−$1,969
Cash flow	−$222
Principal paid down (equity, not cash)	$250

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$1,291,625

Your equity when you sell: $843,973
Rental profits, invested at 7%: $447,651

Same money in stocks$696,545

Cash to close, invested at 7%: $647,628
Monthly shortfalls, invested: $48,917

The building comes out $595,080 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 $1.29M, stocks $697K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-06. The estimate above is RentCast's, weighted toward the closest matches.

3 bed / 1 bath estimate $1,825/mo · range $1,525–$2,125

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
3547 3547/3549 Halifax Ave, # N3549, Robbinsdal… off market	$1,995	3 / 1	1,450	1.8 mi	2026-05-16	95%
3045 Grimes Ave N, Robbinsdale 55422	$1,850	3 / 1	1,400	2.0 mi	2026-09-15	94%
4229-4231 Unity Ave N, Robbinsdale 55912 off market	$2,000	3 / 1	1,000	1.2 mi	2026-07-16	89%
3957 3959 Oregon Ave N, New, Hope 55427 off market	$1,675	2 / 1	1,900	0.6 mi	2026-05-01	86%
3833 Oregon Ave N, New, Hope 55427 off market	$1,650	2 / 1	—	0.4 mi	2026-07-09	84%
3246 Douglas Dr N, Apt 1, Crystal 55422 off market	$1,390	2 / 1	—	0.6 mi	2026-04-02	84%
3927 W Broadway Ave, Robbinsdale 55422	$1,250	2 / 1	—	1.7 mi	2026-02-04	82%
3708 Xenia Ave N, Crystal 55422 off market	$2,400	3 / 1	1,410	0.8 mi	2025-12-16	82%
3601 Halifax Ave N, Robbinsdale 55422 off market	$1,790	2 / 2	1,500	1.8 mi	2026-02-10	82%
3501 Louisiana Ave N, Crystal 55427	$1,589	2 / 1	1,000	0.2 mi	2026-01-14	81%

2 bed / 1 bath estimate $1,625/mo · range $1,450–$1,775

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
3957 3959 Oregon Ave N, New, Hope 55427 off market	$1,675	2 / 1	1,900	0.6 mi	2026-05-01	95%
3833 Oregon Ave N, New, Hope 55427 off market	$1,650	2 / 1	—	0.4 mi	2026-07-09	93%
3246 Douglas Dr N, Apt 1, Crystal 55422 off market	$1,390	2 / 1	—	0.6 mi	2026-04-02	93%
3927 W Broadway Ave, Robbinsdale 55422	$1,250	2 / 1	—	1.7 mi	2026-02-04	91%
3601 Halifax Ave N, Robbinsdale 55422 off market	$1,790	2 / 2	1,500	1.8 mi	2026-02-10	91%
3501 Louisiana Ave N, Crystal 55427	$1,589	2 / 1	1,000	0.2 mi	2026-01-14	91%
8015 36th Ave N, New, Hope 55427	$1,775	2 / 1	976	0.6 mi	2024-04-13	90%
3501 Hillsboro Ave N, New, Hope 55427	$1,490	2 / 1	1,020	1.5 mi	2026-07-30	89%
3501-3507 Hillsboro Ave N, New, Hope 55427	$1,490	2 / 1	1,020	1.5 mi	2026-07-30	89%
4032 37th Ave N, Robbinsdale 55422	$1,299	2 / 1	1,000	1.7 mi	2024-10-10	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

highAsking price is above our break-even price, so cash flow is negative at ask Based on: data: underwriting.break_even_price · AI review
mediumNo rents, lease terms or utility split given, so income and expenses can't be verified Based on: data: rent_estimate · AI review
mediumKitchens and baths appear original and dated, so updates will likely be needed Based on: photo 5 · AI review

Opportunities

Unfinished basements could be finished for added bedrooms, but check egress, permits and cost first Listing says: The large unfinished basements could easily be finished for 2 additional bedrooms and a full bath. · AI review
Separate driveways and garages for each unit support rent and tenant appeal Listing says: Separate driveways and garages for each unit. · AI review
Long-held family property, so rents may be below market and the seller may be motivated Listing says: This property has been in the same family for decades. · AI review

Questions for the agent

What are the current rents, lease end dates and are any tenants month-to-month?
Who pays heat, electric, water and trash, and are there separate meters?
How old are the roof, furnaces, central air, water heaters and electrical panels?
Is the property licensed as a rental in Crystal, and when was the last inspection?
Are there any egress windows in the basements, and has any finishing been permitted?
What were last year's taxes and are there any special assessments?

Bottom line

Solid, simple side-by-side with garages, but it loses money at the asking price and needs a price near $328K 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.	$6,373
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,196
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 2026-10-05 (1 days); last sold for $125,000 on 2004-07-14.

Date	Event	Price
2026-10-05	Listed	$369,900
2004-07-14	Sold public record	$125,000
1999-07-06	Sold public record	$125,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$6,373
County	Hennepin
Parcel number	2011821120107

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Crystal on rental licensing before you buy.