7632 Pleasant Ave
Fourplex · 4 units: 2 bed / 1 bath ×3 and 1 bed / 1 bath unit split estimated · 4,008 sq ft
Richfield, MN · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $575,000 4 units · $144K per unit
- Monthly cash flow
- −$335 at 20% down, 7%
- Break-even price
- $512,032 where cash flow hits $0
First look
This is a 4-unit Richfield building from 1966 at $575K, and it has been listed 178 days. At our underwriting it loses about $296 a month with a 5.8% cap rate, and break-even is near $519K, so the ask is roughly $56K too high. The listing gives no rents, taxes or expenses, so get the rent roll and trailing-12 first. Photos show one remodeled unit and one older-looking kitchen with an older electric range, so unit condition varies a lot. Worth a showing only if the price drops toward break-even or the actual rents beat our estimates.
Things to consider
- Negative cash flow at the asking price Our underwriting shows about -$296 a month at ask, and break-even is about $519K. Buying at ask needs rents well above our estimates.
- Month-to-month tenants only Rents are flexible but income is not locked in. Tenants can leave quickly, and the listing gives no rents to check against our estimates.Listing says: “The property benefits from month-to-month leases with long-term tenants”
- Unit condition is uneven Only Unit 2 is described as remodeled, so the other units may need turnover work before they command higher rents.Listing says: “a complete remodel of Unit 2 in 2024 featuring new carpet, fresh paint, new blinds”
- Taxes and unit count are unverified The county parcel did not match, so property tax, license and legal unit count are unknown. Taxes could be a large expense on a $575K fourplex.
- Recent boiler lowers a big capital risk A 2025 boiler removes a major near-term expense, though one boiler also means the owner likely pays the heat bill.Listing says: “including a new boiler (2025), newer windows and a complete remodel of Unit 2 in 2024”
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
- doneNew boiler (2025)Listing says: including a new boiler (2025), newer windows and a complete remodel of Unit 2 in 2024
- doneUnit 2 complete remodel in 2024: carpet, paint, blinds, windows, cabinets, counters, appliances, bathListing says: a complete remodel of Unit 2 in 2024 featuring new carpet, fresh paint, new blinds
- doneNewer windowsListing says: newer windows and a complete remodel of Unit 2 in 2024
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
- $575,000
- Cash to close
- $74,750
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$1,041/mo
- Cash-on-cash
- −16.7%
- Cap rate
- 5.7%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $416,055
- Rent that breaks even
- $6,810/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $930K
- Cash flow turns positive
- year 10
The deal
- Price
- $575,000
- Cash to close
- $74,750
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$1,504/mo
- Cash-on-cash
- −24.1%
- Cap rate
- 4.7%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $345,342
- Rent that breaks even
- $7,638/mo
Long run
- Year 30: property vs stocks
- $1.45M vs $1.34M
- Cash flow turns positive
- year 18
The deal
- Price
- $565,000
- Cash to close
- $73,450
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$976/mo
- Cash-on-cash
- −15.9%
- Cap rate
- 5.8%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $416,055
- Rent that breaks even
- $6,726/mo
Long run
- Year 30: property vs stocks
- $1.78M vs $883K
- Cash flow turns positive
- year 10
The deal
- Price
- $565,000
- Cash to close
- $73,450
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$1,439/mo
- Cash-on-cash
- −23.5%
- Cap rate
- 4.8%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $345,342
- Rent that breaks even
- $7,544/mo
Long run
- Year 30: property vs stocks
- $1.45M vs $1.27M
- Cash flow turns positive
- year 17
The deal
- Price
- $575,000
- Cash to close
- $132,250
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$335/mo
- Cash-on-cash
- −3.0%
- Cap rate
- 5.7%
- DSCR
- 0.89×
Break-even
- Price that breaks even
- $512,032
- Rent that breaks even
- $5,905/mo
Long run
- Year 30: property vs stocks
- $2.01M vs $1.08M
- Cash flow turns positive
- year 6
The deal
- Price
- $575,000
- Cash to close
- $132,250
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$798/mo
- Cash-on-cash
- −7.2%
- Cap rate
- 4.7%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $425,007
- Rent that breaks even
- $6,623/mo
Long run
- Year 30: property vs stocks
- $1.58M vs $1.36M
- Cash flow turns positive
- year 13
The deal
- Price
- $565,000
- Cash to close
- $129,950
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$282/mo
- Cash-on-cash
- −2.6%
- Cap rate
- 5.8%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $512,032
- Rent that breaks even
- $5,836/mo
Long run
- Year 30: property vs stocks
- $2.03M vs $1.04M
- Cash flow turns positive
- year 5
The deal
- Price
- $565,000
- Cash to close
- $129,950
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$745/mo
- Cash-on-cash
- −6.9%
- Cap rate
- 4.8%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $425,007
- Rent that breaks even
- $6,546/mo
Long run
- Year 30: property vs stocks
- $1.58M vs $1.31M
- Cash flow turns positive
- year 12
The deal
- Price
- $575,000
- Cash to close
- $161,000
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$144/mo
- Cash-on-cash
- −1.1%
- Cap rate
- 5.7%
- DSCR
- 0.95×
Break-even
- Price that breaks even
- $546,168
- Rent that breaks even
- $5,659/mo
Long run
- Year 30: property vs stocks
- $2.17M vs $1.24M
- Cash flow turns positive
- year 3
The deal
- Price
- $575,000
- Cash to close
- $161,000
- Price per unit
- $143,750
- GRM
- 8.8
Each month
- Cash flow
- −$607/mo
- Cash-on-cash
- −4.5%
- Cap rate
- 4.7%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $453,341
- Rent that breaks even
- $6,348/mo
Long run
- Year 30: property vs stocks
- $1.66M vs $1.45M
- Cash flow turns positive
- year 11
The deal
- Price
- $565,000
- Cash to close
- $158,200
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$94/mo
- Cash-on-cash
- −0.7%
- Cap rate
- 5.8%
- DSCR
- 0.97×
Break-even
- Price that breaks even
- $546,168
- Rent that breaks even
- $5,595/mo
Long run
- Year 30: property vs stocks
- $2.20M vs $1.21M
- Cash flow turns positive
- year 3
The deal
- Price
- $565,000
- Cash to close
- $158,200
- Price per unit
- $141,250
- GRM
- 8.6
Each month
- Cash flow
- −$557/mo
- Cash-on-cash
- −4.2%
- Cap rate
- 4.8%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $453,341
- Rent that breaks even
- $6,276/mo
Long run
- Year 30: property vs stocks
- $1.67M vs $1.40M
- Cash flow turns positive
- year 10
Monthly
Monthly breakdown
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$3,443 |
| PMI | −$323 |
| Cash flow | −$1,041 |
| Principal paid down (equity, not cash) | $438 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$3,443 |
| PMI | −$323 |
| Cash flow | −$1,504 |
| Principal paid down (equity, not cash) | $438 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$3,383 |
| PMI | −$318 |
| Cash flow | −$976 |
| Principal paid down (equity, not cash) | $430 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$3,383 |
| PMI | −$318 |
| Cash flow | −$1,439 |
| Principal paid down (equity, not cash) | $430 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$3,060 |
| Cash flow | −$335 |
| Principal paid down (equity, not cash) | $389 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$3,060 |
| Cash flow | −$798 |
| Principal paid down (equity, not cash) | $389 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$3,007 |
| Cash flow | −$282 |
| Principal paid down (equity, not cash) | $383 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$3,007 |
| Cash flow | −$745 |
| Principal paid down (equity, not cash) | $383 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$2,869 |
| Cash flow | −$144 |
| Principal paid down (equity, not cash) | $365 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$2,869 |
| Cash flow | −$607 |
| Principal paid down (equity, not cash) | $365 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Net operating income | $2,725 |
| Mortgage (principal + interest) | −$2,819 |
| Cash flow | −$94 |
| Principal paid down (equity, not cash) | $359 |
| Rent | $5,475 |
| Vacancy (6%) | −$328 |
| Collected | $5,146 |
| Property tax Listing | −$762 |
| Insurance Estimate | −$384 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$438 |
| Capital reserve (8% of rent) | −$438 |
| Property management | −$463 |
| Net operating income | $2,262 |
| Mortgage (principal + interest) | −$2,819 |
| Cash flow | −$557 |
| Principal paid down (equity, not cash) | $359 |
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
- $1,311,935
- Rental profits, invested at 7%
- $455,394
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $517,500 of loan.
$284,839 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $569,016
- Monthly shortfalls, invested
- $361,323
$74,750 put into an index fund instead of the down payment and closing costs.
$59,012 you'd have paid in while the building lost money, invested instead.
The building comes out $836,989 ahead after 30 years.
- Your equity when you sell
- $1,311,935
- Rental profits, invested at 7%
- $140,673
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $517,500 of loan.
$106,058 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $569,016
- Monthly shortfalls, invested
- $767,086
$74,750 put into an index fund instead of the down payment and closing costs.
$144,665 you'd have paid in while the building lost money, invested instead.
The building comes out $116,506 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $487,630
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $508,500 of loan.
$299,928 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $559,120
- Monthly shortfalls, invested
- $323,947
$73,450 put into an index fund instead of the down payment and closing costs.
$52,275 you'd have paid in while the building lost money, invested instead.
The building comes out $893,683 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $156,507
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $508,500 of loan.
$115,964 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $559,120
- Monthly shortfalls, invested
- $713,307
$73,450 put into an index fund instead of the down payment and closing costs.
$132,746 you'd have paid in while the building lost money, invested instead.
The building comes out $173,199 ahead after 30 years.
- Your equity when you sell
- $1,311,935
- Rental profits, invested at 7%
- $700,258
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $460,000 of loan.
$390,057 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,006,721
- Monthly shortfalls, invested
- $72,482
$132,250 put into an index fund instead of the down payment and closing costs.
$10,988 you'd have paid in while the building lost money, invested instead.
The building comes out $932,991 ahead after 30 years.
- Your equity when you sell
- $1,311,935
- Rental profits, invested at 7%
- $264,384
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $460,000 of loan.
$177,693 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,006,721
- Monthly shortfalls, invested
- $357,091
$132,250 put into an index fund instead of the down payment and closing costs.
$63,058 you'd have paid in while the building lost money, invested instead.
The building comes out $212,507 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $742,355
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $452,000 of loan.
$406,338 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $989,213
- Monthly shortfalls, invested
- $54,247
$129,950 put into an index fund instead of the down payment and closing costs.
$8,108 you'd have paid in while the building lost money, invested instead.
The building comes out $988,014 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $286,384
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $452,000 of loan.
$189,274 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $989,213
- Monthly shortfalls, invested
- $318,760
$129,950 put into an index fund instead of the down payment and closing costs.
$55,478 you'd have paid in while the building lost money, invested instead.
The building comes out $267,531 ahead after 30 years.
- Your equity when you sell
- $1,311,935
- Rental profits, invested at 7%
- $862,445
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $431,250 of loan.
$450,493 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,225,573
- Monthly shortfalls, invested
- $17,854
$161,000 put into an index fund instead of the down payment and closing costs.
$2,564 you'd have paid in while the building lost money, invested instead.
The building comes out $930,954 ahead after 30 years.
- Your equity when you sell
- $1,311,935
- Rental profits, invested at 7%
- $351,251
Sells for $1,395,676 (value up 3% a year), minus 6% selling cost ($83,741). Rent paid down $431,250 of loan.
$221,564 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,225,573
- Monthly shortfalls, invested
- $227,143
$161,000 put into an index fund instead of the down payment and closing costs.
$38,070 you'd have paid in while the building lost money, invested instead.
The building comes out $210,470 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $910,765
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $423,750 of loan.
$467,258 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,204,259
- Monthly shortfalls, invested
- $9,613
$158,200 put into an index fund instead of the down payment and closing costs.
$1,367 you'd have paid in while the building lost money, invested instead.
The building comes out $986,012 ahead after 30 years.
- Your equity when you sell
- $1,289,119
- Rental profits, invested at 7%
- $377,769
Sells for $1,371,403 (value up 3% a year), minus 6% selling cost ($82,284). Rent paid down $423,750 of loan.
$234,049 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,204,259
- Monthly shortfalls, invested
- $197,101
$158,200 put into an index fund instead of the down payment and closing costs.
$32,592 you'd have paid in while the building lost money, invested instead.
The building comes out $265,529 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 $1.77M, stocks $930K. The property wins.
Year 30 (loan paid off): property $1.45M, stocks $1.34M. The property wins.
Year 30 (loan paid off): property $1.78M, stocks $883K. The property wins.
Year 30 (loan paid off): property $1.45M, stocks $1.27M. The property wins.
Year 30 (loan paid off): property $2.01M, stocks $1.08M. The property wins.
Year 30 (loan paid off): property $1.58M, stocks $1.36M. The property wins.
Year 30 (loan paid off): property $2.03M, stocks $1.04M. The property wins.
Year 30 (loan paid off): property $1.58M, stocks $1.31M. The property wins.
Year 30 (loan paid off): property $2.17M, stocks $1.24M. The property wins.
Year 30 (loan paid off): property $1.66M, stocks $1.45M. The property wins.
Year 30 (loan paid off): property $2.20M, stocks $1.21M. The property wins.
Year 30 (loan paid off): property $1.67M, stocks $1.40M. The property wins.
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.
2 bed estimate $1,425/mo · range $1,325–$1,500 · 9 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 700 American Blvd W, Bloomington | $1,419 | 2 / 1 | 0.4 mi |
| 7611 Knox Ave S, Richfield | $1,495 | 2 / 1.5 | 0.8 mi |
| 424 E 73rd St, Richfield | $1,285 | 2 / 1 | 0.8 mi |
| 695 American Blvd E, Bloomington | $1,415 | 2 / 1 | 0.9 mi |
| 8330 Fremont Ave S, Bloomington | $1,355 | 2 / 1 | 1.0 mi |
| 951 E 77th St, Richfield | $1,380 | 2 / 1 | 1.1 mi |
| 7500 Oliver Ave S Apt 6, Minneapolis | $1,260 | 2 / 1 | 1.2 mi |
| 800 W 65th St, Richfield | $1,350 | 2 / 1 | 1.5 mi |
| 7700 Bloomington Ave S, Richfield | $1,249 | 2 / 1 | 1.5 mi |
1 bed estimate $1,200/mo · range $1,125–$1,325 · 16 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 700 American Blvd W, Bloomington | $1,275 | 1 / 1 | 0.4 mi |
| 7611 Knox Ave S, Richfield | $1,260 | 1 / 1 | 0.8 mi |
| 631 E 77th St, Richfield | $1,134 | 1 / 1 | 0.9 mi |
| 695 American Blvd E, Bloomington | $1,205 | 1 / 1 | 0.9 mi |
| 8300 Fremont Ave S, Bloomington | $1,145 | 1 / 1 | 1.0 mi |
| 8320 Fremont Ave S Apt 104, Bloomington | $1,099 | 1 / 1 | 1.0 mi |
| 951 E 77th St, Richfield | $1,120 | 1 / 1 | 1.1 mi |
| 7530 Oliver Ave S, Richfield | $1,075 | 1 / 1 | 1.2 mi |
| 7527 Penn Ave S Apt 1, Minneapolis | $950 | 1 / 1 | 1.2 mi |
| 7521 Penn Ave S Apt 9, Richfield | $979 | 1 / 1 | 1.2 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
- highNo rents, taxes or expenses given; cash flow is negative at ask and the listing sells on 'passive income' Based on: data: underwriting.cash_flow_monthly · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 7632 PLEASANT AVE
- mediumBaseboard hot-water heat from one new boiler likely means the owner pays heat; confirm metering and gas costs Based on: photo 8 · AI review
- lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "bathroom with tile tub/shower. The property benefits from month-to-month leases with long-term tenants and historically low turnover"
- lowWall air conditioner units suggest no central air; tenants may expect more or units may be harder to rent in summer Based on: photo 4 · AI review
- lowHighway about 250 m away; expect road noise that can limit rents Based on: data: highway.distance_m · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 178 days on market
- Only Unit 2 is remodeled; other units look dated, so there is room to renovate on turnover and raise rents Based on: photo 2 · AI review
- Month-to-month leases allow rent adjustments with no rent cap, if tenants stay Listing says: helping provide consistent income and flexibility for future rent adjustments · AI review
- 178 days on market gives room to negotiate toward the break-even price Based on: data: listing.days_on_market · AI review
Questions for the agent
- Can I see the current rent roll with each unit's rent, lease start date and deposit?
- What are trailing-12 expenses: taxes, insurance, heat, water, trash, snow and lawn?
- Which utilities does the owner pay, and is the heat on one boiler for all four units?
- Which units besides Unit 2 have been updated, and what is the age of the electrical panels and roof?
- Why has it been on the market for six months, and have there been price cuts or offers?
- Is the rental license current for four units, and are there any open city inspection orders?
Bottom line
Decent-looking fourplex with a new boiler, but it loses money at $575K and needs a price near $519K or better rents 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. | $9,141 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,602 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 2026-04-10 (178 days, relisted 1×); down $49,999 (8.0%) from the first ask of $624,999; last sold for $486,000 on 2021-05-05.
| Date | Event | Price |
|---|---|---|
| Relisted | $575,000 | |
| Removed | $575,000 | |
| Price changed | $575,000 | |
| Price changed | $599,900 | |
| Price changed | $614,990 | |
| Listed | $624,999 | |
| Sold public record | $486,000 | |
| Sold public record | $125,000 | |
| Sold public record | $208,900 | |
| Sold | $208,900 | |
| Listed | $207,500 | |
| Sold public record | $400,000 | |
| Sold public record | $51,000 |
From the listing Listing
| Listed as | four plex |
| Property tax, 2026 | $9,141 |
| County | Hennepin |
| Parcel number | 3402824330026 |
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 Richfield on rental licensing before you buy.
Nearest highway
I 494;MN 5, about 253 m away.