836 Thornton St SE
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 3,108 sq ft
Minneapolis, MN · Prospect Park - East River Road · View the listing ↗
Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.
- Asking price
- $719,000 2 units · $360K per unit
- Monthly cash flow
- −$2,534 at 20% down, 7%
- Estimated rent
- $3,250/mo medium confidence
- Break-even price
- $242,835 where cash flow hits $0
First look
This is priced as a development play, not a rental. At $719K the underwriting shows about -$2,534 a month and a 2.2% cap rate, and the break-even price is around $243K, so it doesn't work as a rental at today's rates. The description gives no rents, no unit split, no lease info and no repair or system details, and the photos show a dated kitchen and a cramped attic unit. It has sat 276 days. Only worth a showing if you want the Corridor 4 zoning angle and can confirm what that actually allows. Otherwise the price has to fall by a lot.
Things to consider
- Price is far above what rents support Underwriting shows heavy monthly losses and a break-even near $243K. You would be paying for land and zoning, not income.
- Redevelopment is the real thesis Value depends on what Corridor 4 permits and whether demolition or expansion pencils out. That needs zoning and cost checks before offering.Listing says: “Additional details on Corridor 4 zoning are available in the supplements.”
- Rental legality is unconfirmed No rental license is on file, and the attic kitchen may be an extra unit. Licensing or code fixes could cost money and limit income.From photo 6
- Dated interiors need capital The kitchen and finishes look original or older. Budget for updates before reaching estimated rents.From photo 5
- Negotiating leverage is strong 276 days on market and a $500 seller basis mean the seller can take a much lower price.
- Tax bill is heavy Non-homestead tax of about $8.9K plus assessments eats into income at any realistic rent.
From the photos
Based on 6 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
- $719,000
- Cash to close
- $93,470
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$3,417/mo
- Cash-on-cash
- −43.9%
- Cap rate
- 2.2%
- DSCR
- 0.27×
Break-even
- Price that breaks even
- $197,317
- Rent that breaks even
- $7,688/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $3.82M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $719,000
- Cash to close
- $93,470
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$3,692/mo
- Cash-on-cash
- −47.4%
- Cap rate
- 1.7%
- DSCR
- 0.22×
Break-even
- Price that breaks even
- $155,341
- Rent that breaks even
- $8,637/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $4.25M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $92,170
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$3,352/mo
- Cash-on-cash
- −43.6%
- Cap rate
- 2.2%
- DSCR
- 0.28×
Break-even
- Price that breaks even
- $197,317
- Rent that breaks even
- $7,603/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $3.74M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $92,170
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$3,627/mo
- Cash-on-cash
- −47.2%
- Cap rate
- 1.7%
- DSCR
- 0.22×
Break-even
- Price that breaks even
- $155,341
- Rent that breaks even
- $8,541/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $4.17M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $719,000
- Cash to close
- $165,370
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$2,534/mo
- Cash-on-cash
- −18.4%
- Cap rate
- 2.2%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $242,835
- Rent that breaks even
- $6,541/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $3.70M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $719,000
- Cash to close
- $165,370
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$2,809/mo
- Cash-on-cash
- −20.4%
- Cap rate
- 1.7%
- DSCR
- 0.27×
Break-even
- Price that breaks even
- $191,176
- Rent that breaks even
- $7,349/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $4.13M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $163,070
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$2,481/mo
- Cash-on-cash
- −18.3%
- Cap rate
- 2.2%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $242,835
- Rent that breaks even
- $6,472/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $3.62M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $163,070
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$2,756/mo
- Cash-on-cash
- −20.3%
- Cap rate
- 1.7%
- DSCR
- 0.27×
Break-even
- Price that breaks even
- $191,176
- Rent that breaks even
- $7,271/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $4.05M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $719,000
- Cash to close
- $201,320
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$2,295/mo
- Cash-on-cash
- −13.7%
- Cap rate
- 2.2%
- DSCR
- 0.36×
Break-even
- Price that breaks even
- $259,024
- Rent that breaks even
- $6,231/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $3.70M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $719,000
- Cash to close
- $201,320
- Price per unit
- $359,500
- GRM
- 18.4
Each month
- Cash flow
- −$2,570/mo
- Cash-on-cash
- −15.3%
- Cap rate
- 1.7%
- DSCR
- 0.28×
Break-even
- Price that breaks even
- $203,921
- Rent that breaks even
- $7,000/mo
Long run
- Year 30: property vs stocks
- $1.64M vs $4.13M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $198,520
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$2,245/mo
- Cash-on-cash
- −13.6%
- Cap rate
- 2.2%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $259,024
- Rent that breaks even
- $6,166/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $3.62M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $709,000
- Cash to close
- $198,520
- Price per unit
- $354,500
- GRM
- 18.2
Each month
- Cash flow
- −$2,520/mo
- Cash-on-cash
- −15.2%
- Cap rate
- 1.7%
- DSCR
- 0.29×
Break-even
- Price that breaks even
- $203,921
- Rent that breaks even
- $6,927/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $4.05M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$4,305 |
| PMI | −$404 |
| Cash flow | −$3,417 |
| Principal paid down (equity, not cash) | $548 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$4,305 |
| PMI | −$404 |
| Cash flow | −$3,692 |
| Principal paid down (equity, not cash) | $548 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$4,245 |
| PMI | −$399 |
| Cash flow | −$3,352 |
| Principal paid down (equity, not cash) | $540 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$4,245 |
| PMI | −$399 |
| Cash flow | −$3,627 |
| Principal paid down (equity, not cash) | $540 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$3,827 |
| Cash flow | −$2,534 |
| Principal paid down (equity, not cash) | $487 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$3,827 |
| Cash flow | −$2,809 |
| Principal paid down (equity, not cash) | $487 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$3,774 |
| Cash flow | −$2,481 |
| Principal paid down (equity, not cash) | $480 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$3,774 |
| Cash flow | −$2,756 |
| Principal paid down (equity, not cash) | $480 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$3,588 |
| Cash flow | −$2,295 |
| Principal paid down (equity, not cash) | $456 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$3,588 |
| Cash flow | −$2,570 |
| Principal paid down (equity, not cash) | $456 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Net operating income | $1,292 |
| Mortgage (principal + interest) | −$3,538 |
| Cash flow | −$2,245 |
| Principal paid down (equity, not cash) | $450 |
| Rent | $3,250 |
| Vacancy (6%) | −$195 |
| Collected | $3,055 |
| Property tax Public record | −$744 |
| Insurance Estimate | −$236 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$260 |
| Capital reserve (9% of rent) | −$292 |
| Property management | −$275 |
| Net operating income | $1,018 |
| Mortgage (principal + interest) | −$3,538 |
| Cash flow | −$2,520 |
| Principal paid down (equity, not cash) | $450 |
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
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $647,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $711,517
- Monthly shortfalls, invested
- $3,106,172
$93,470 put into an index fund instead of the down payment and closing costs.
$890,165 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,177,200 ahead after 30 years.
- Your equity when you sell
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $647,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $711,517
- Monthly shortfalls, invested
- $3,533,856
$93,470 put into an index fund instead of the down payment and closing costs.
$1,047,135 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,604,884 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $638,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $701,622
- Monthly shortfalls, invested
- $3,036,559
$92,170 put into an index fund instead of the down payment and closing costs.
$868,339 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,120,508 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $638,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $701,622
- Monthly shortfalls, invested
- $3,464,243
$92,170 put into an index fund instead of the down payment and closing costs.
$1,025,309 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,548,192 ahead after 30 years.
- Your equity when you sell
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $575,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,258,839
- Monthly shortfalls, invested
- $2,438,808
$165,370 put into an index fund instead of the down payment and closing costs.
$698,545 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,057,157 ahead after 30 years.
- Your equity when you sell
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $575,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,258,839
- Monthly shortfalls, invested
- $2,866,492
$165,370 put into an index fund instead of the down payment and closing costs.
$855,515 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,484,841 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $567,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,241,330
- Monthly shortfalls, invested
- $2,378,477
$163,070 put into an index fund instead of the down payment and closing costs.
$679,384 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,002,134 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $567,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,241,330
- Monthly shortfalls, invested
- $2,806,161
$163,070 put into an index fund instead of the down payment and closing costs.
$836,354 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,429,818 ahead after 30 years.
- Your equity when you sell
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $539,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,532,499
- Monthly shortfalls, invested
- $2,167,695
$201,320 put into an index fund instead of the down payment and closing costs.
$612,441 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,059,704 ahead after 30 years.
- Your equity when you sell
- $1,640,490
- Rental profits, invested at 7%
- $0
Sells for $1,745,202 (value up 3% a year), minus 6% selling cost ($104,712). Rent paid down $539,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,532,499
- Monthly shortfalls, invested
- $2,595,379
$201,320 put into an index fund instead of the down payment and closing costs.
$769,412 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,487,388 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $531,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,511,185
- Monthly shortfalls, invested
- $2,111,134
$198,520 put into an index fund instead of the down payment and closing costs.
$594,478 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,004,646 ahead after 30 years.
- Your equity when you sell
- $1,617,673
- Rental profits, invested at 7%
- $0
Sells for $1,720,929 (value up 3% a year), minus 6% selling cost ($103,256). Rent paid down $531,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,511,185
- Monthly shortfalls, invested
- $2,538,818
$198,520 put into an index fund instead of the down payment and closing costs.
$751,449 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,432,330 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 $1.64M, stocks $3.82M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $4.25M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $3.74M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $4.17M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $3.70M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $4.13M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $3.62M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $4.05M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $3.70M. Stocks win.
Year 30 (loan paid off): property $1.64M, stocks $4.13M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $3.62M. Stocks win.
Year 30 (loan paid off): property $1.62M, stocks $4.05M. 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 bath estimate $1,800/mo · range $1,650–$1,925
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 2701 Delaware St SE, Minneapolis 55414 | $1,700 | 3 / 1 | 0.5 mi | 93% |
| 3022 39th-3024-upper Ave S, Unit 3024, Minneapo… off market | $1,795 | 3 / 1 | 1.2 mi | 85% |
| 3022 3024 39th Ave S, Minneapolis 55406 off market | $1,795 | 3 / 1 | 1.2 mi | 85% |
| 1311-1313 Franklin Ave SE, Minneapolis 55414 off market | $1,350 | 2 / 1 | 0.0 mi | 84% |
| 90 Malcolm Ave SE, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.3 mi | 84% |
| 77 Bedford St SE, # 4, Minneapolis 55414 off market | $1,550 | 2 / 1 | 0.6 mi | 84% |
| 69 Bedford St SE, Apt 2, Minneapolis 55414 off market | $1,600 | 2 / 1 | 0.6 mi | 84% |
| 811 28th Ave S, Minneapolis 55454 | $1,400 | 2 / 1 | 0.6 mi | 84% |
| 67 Bedford St SE, Apt 3, Minneapolis 55414 off market | $1,600 | 2 / 1 | 0.6 mi | 84% |
| 119 Bedford St SE, Minneapolis 55414 off market | $1,550 | 2 / 1 | 0.6 mi | 84% |
2 bed / 1 bath estimate $1,450/mo · range $1,325–$1,600
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1311-1313 Franklin Ave SE, Minneapolis 55414 off market | $1,350 | 2 / 1 | 0.0 mi | 94% |
| 90 Malcolm Ave SE, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.3 mi | 93% |
| 77 Bedford St SE, # 4, Minneapolis 55414 off market | $1,550 | 2 / 1 | 0.6 mi | 93% |
| 69 Bedford St SE, Apt 2, Minneapolis 55414 off market | $1,600 | 2 / 1 | 0.6 mi | 93% |
| 811 28th Ave S, Minneapolis 55454 | $1,400 | 2 / 1 | 0.6 mi | 93% |
| 67 Bedford St SE, Apt 3, Minneapolis 55414 off market | $1,600 | 2 / 1 | 0.6 mi | 93% |
| 119 Bedford St SE, Minneapolis 55414 off market | $1,550 | 2 / 1 | 0.6 mi | 93% |
| 2214 Sharon Ave SE, Apt 2, Minneapolis 55414 off market | $1,450 | 2 / 1 | 0.6 mi | 93% |
| 75 Bedford St SE, Apt 1, Minneapolis 55414 off market | $1,500 | 2 / 1 | 0.6 mi | 93% |
| 2807 E 29th St, Apt 6, Minneapolis 55406 off market | $1,100 | 2 / 1 | 1.2 mi | 92% |
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
- highDescription is built around redevelopment, not rental income. No rents, leases or occupancy are given. Listing says: presenting significant potential for a comprehensive development venture · AI review
- highAssessed market value is $470K versus a $719K ask. Based on: data: county.market_value · AI review
- 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 836 THORNTON ST S E
- mediumAsking is $476,165 above the price where cash flow breaks even ($242,835) at the default scenario. Based on: Derived: price $719,000 vs. break-even $242,835
- mediumSq ft conflict: listing text says 2,590 but facts show 3,108. Finished attic space may not be legal living area. Based on: data: listing.sqft · AI review
- low$383 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 3002923340058: special assessments (current) = $382.83
- lowRight beside I-94, which can mean road noise and weaker tenant appeal. Based on: data: highway.distance_m · AI review
Opportunities
- The seller bought for $500 in May 2003, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 3002923340058: last sale 2003-05-01, $500
- Long time on market: room to negotiate. Based on: Listing data: 276 days on market, 1 price cuts
- Corridor 4 zoning may allow denser redevelopment, but the buyer must verify what is permitted and feasible. Listing says: the property is zoned under Corridor 4 · AI review
- Near the University of Minnesota, so student and staff rental demand is likely. Minneapolis has no rent cap. Listing says: near the University of Minnesota · AI review
- Long time on market and a very low seller basis give room for a big price cut. Based on: data: listing.days_on_market · AI review
Questions for the agent
- What are the current rents, lease terms and move-out dates for each unit?
- Is the building licensed as a rental, and is the attic space a legal, inspected unit?
- What are the $383 special assessments for, and who pays them at closing?
- What is the actual unit layout and bedroom count per unit, and how old are the boiler, roof and electrical?
- Is the seller entertaining offers near assessed value, and what offers or cuts has it had in 276 days?
- What does the supplement say Corridor 4 permits here, and has anyone checked feasibility with the city?
Bottom line
At $719K this only makes sense as a land-and-zoning bet; as a rental it loses thousands a month and needs a price far closer to $250K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordHennepin County record, current payable year (non-homestead) | $8,926 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,835 |
| 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 2026-01-02 (276 days); last sold for $71,500 on 1993-05-10.
| Date | Event | Price |
|---|---|---|
| Removed | $719,000 | |
| Removed | $749,000 | |
| Removed | $799,000 | |
| Removed | — | |
| Removed | $719,000 | |
| Listed | $719,000 | |
| Removed | — | |
| Listed | $1,600,000 | |
| Sold public record | $71,500 |
County record Public record
| Recorded as | duplex |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $470,000 |
| Property tax | $8,926 |
| Special assessments | $383 |
| Homestead | no |
| Last sale | 2003-05-01 · $500 |
Source: Hennepin County parcel records.
City rental license
No record in Minneapolis Active Rental Licenses.
Nearest highway
I 94, about 178 m away.
Crime in Prospect Park - East River Road
378 incidents in the last 12 months (33 per 1,000 residents), −6% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).