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8517 Davenport St NE

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,120 sq ft

Blaine, MN · View the listing ↗

Overpriced
8 photos
8517 Davenport St NE, photo 1
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8517 Davenport St NE, photo 2
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8517 Davenport St NE, photo 3
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8517 Davenport St NE, photo 4
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8517 Davenport St NE, photo 5
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8517 Davenport St NE, photo 6
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8517 Davenport St NE, photo 7
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8517 Davenport St NE, photo 8
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Photos courtesy of Get You Moved Realty - Broker, via Realtor.com.

Asking price
$360,000
2 units · $180K per unit
Monthly cash flow
−$548
at 20% down, 7%
Estimated rent
$2,650/mo
medium confidence
Break-even price
$257,104
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a side-by-side duplex of about 1,120 sq ft total, so each unit is small, around 560 sq ft. At $360K the numbers don't work today: our model shows about -$548/month cash flow with 20% down, a 4.6% cap rate, and a break-even price near $257K. The listing gives no rents, no tax figure and no utility details, and we couldn't match a county record, so none of the income is verified. The new roof, siding, deck and driveway are a real plus, but interiors look dated and both tenants are month-to-month. Ask for the rent roll, the tax bill and the rental license before a showing. At this price it only makes sense if the seller comes down toward the break-even.

Things to consider

  1. Price doesn't fit the income Our model loses about $548/month at ask with 20% down. The break-even is around $257K, so negotiate hard or pass.
  2. Rents and expenses are unverified The listing states no rents, and we couldn't find county tax data. Taxes could shift the cash flow substantially.
  3. Month-to-month tenants Turnover could come soon after closing, meaning vacancy and make-ready costs in year one.Listing says: “BOTH SIDES CURRENTLY LEASED, MONTH TO MONTH.”
  4. Big exterior items are done A new roof and siding in 2025 cut near-term capital costs, though you should confirm permits and warranties.Listing says: “NEW PATIO/DECK AND ASPHALT DRIVEWAY AND ROOF AND SIDING IN 2025.”
  5. Interiors are dated and the units are small Budget for flooring, kitchen and bath refreshes at turnover. Small 2-beds cap rent near our $1,325 mid estimate.From photo 6

From the photos

Listing photo 1
1 of 7Plus

Exterior looks tidy with fresh-looking dark blue siding, shingle roof and a mowed oversized lot, consistent with the 2025 work.

Listing photo 6
2 of 7Concern

Kitchen appears dated: white cabinets, older laminate counters, basic tile floor and a textured ceiling. Appliances look basic.

Listing photo 2
3 of 7Concern

Living area has worn-looking dark carpet and a cord on the floor; flooring appears low-grade and may need replacing at turnover.

Listing photo 4
4 of 7Concern

Bathroom appears original with older tile, pedestal-style sink and textured ceiling, but looks clean and usable.

Listing photo 5
5 of 7Check

Utility room shows a forced-air furnace with flue ducting plus a washer and dryer; age of the furnace and water heater can't be seen.

Listing photo 3
6 of 7Check

Bedroom has a closet and a floor vent, so it appears to be a real bedroom; egress window not confirmed.

Listing photo 2
7 of 7Check

Photos show only one unit's interior. No second unit, panel, basement or meters shown, so the second unit's condition and separate systems are unknown.

Based on 6 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

  • doneNew patio/deck, asphalt driveway, roof and sidingListing says: NEW PATIO/DECK AND ASPHALT DRIVEWAY AND ROOF AND SIDING IN 2025.

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

Down payment %
Offer $
Management
Interest rate %
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
$360,000
Cash to close
$82,800
Price per unit
$180,000
GRM
11.3

Each month

Cash flow
−$548/mo
Cash-on-cash
−7.9%
Cap rate
4.6%
DSCR
0.71×

Break-even

Price that breaks even
$257,104
Rent that breaks even
$3,352/mo

Long run

Year 30: property vs stocks
$973K vs $889K
Cash flow turns positive
year 14

Monthly

Monthly breakdown

Rent$2,650
Vacancy (6%)−$159
Collected$2,491
Property tax Listing−$295
Insurance Estimate−$173
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$212
Capital reserve (8% of rent)−$212
Net operating income$1,368
Mortgage (principal + interest)−$1,916
Cash flow−$548
Principal paid down (equity, not cash)$244

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$972,679
Your equity when you sell
$821,385

Sells for $873,814 (value up 3% a year), minus 6% selling cost ($52,429). Rent paid down $288,000 of loan.

Rental profits, invested at 7%
$151,293

$104,121 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$889,274
Cash to close, invested at 7%
$630,295

$82,800 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$258,979

$46,599 you'd have paid in while the building lost money, invested instead.

The building comes out $83,405 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 $973K, stocks $889K. 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.

2 bed / 1 bath estimate $1,325/mo · range $1,200–$1,450

AddressRentBd / BaSq ftDistanceListedMatch
1619 73rd Ave NE, Apt 206, Fridley 55432 $1,295 2 / 1 1,030 1.7 mi 2026-10-04 95%
1619 73rd Ave NE, Apt 204, Fridley 55432 off market $1,295 2 / 1 1,030 1.7 mi 2024-01-16 95%
450 75th Ave NE, Fridley 55432 off market $1,185 2 / 1 1,250 2.1 mi 2026-01-31 94%
10550-10590 Kumquat St NW, Coon Rapids 55448 $1,630 2 / 1 1,108 3.6 mi 2026-08-23 94%
9240 University Ave NW, Minneapolis 55448 $1,430 2 / 1 990 2.1 mi 2026-09-29 94%
8070 Ne Central Ave, Unit 106, Spring Lake Park 55432 $1,195 2 / 1 865 0.9 mi 2026-10-02 93%
8030 Ne Central Ave, Unit 106, Spring Lake Park 55432 off market $1,250 2 / 1 865 1.0 mi 2026-08-27 93%
8050 Ne Central Ave, Unit 206, Spring Lake Park 55432 off market $1,250 2 / 1 865 1.0 mi 2026-06-02 93%
1200 81st Ave NE, Apt 304, Spring Lake Park 55432 off market $1,315 2 / 1 850 0.9 mi 2026-07-31 93%
1200 81st Ave NE, Apt 106, Spring Lake Park 55432 off market $1,250 2 / 1 850 0.9 mi 2026-07-03 93%

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

  • highPrice is far above what the rents support: the break-even is about $66K below ask. Based on: data: underwriting.break_even_price · 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 8517 DAVENPORT ST NE
  • mediumBoth tenants are month-to-month, so income can disappear quickly and rents are unproven. Listing says: BOTH SIDES CURRENTLY LEASED, MONTH TO MONTH. · AI review
  • lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "TO LOTS OF SHOPS. BOTH SIDES CURRENTLY LEASED, MONTH TO MONTH .NEW PATIO/DECK AND ASPHALT DRIVEWAY AND ROOF AND"
  • lowUnits are small (about 560 sq ft each), which limits rent and tenant pool. Based on: data: listing.sqft · AI review

Opportunities

  • No rent cap in Blaine, so rents can follow the market after a refresh. Based on: data: underwriting.rent_rule · AI review
  • Oversized lot may offer space for parking, storage or future improvement. Listing says: ON AN OVERSIZED LOT IN A GREAT AREA CLOSE TO LOTS OF SHOPS · AI review
  • Interiors are dated, so a cosmetic update could support higher rents. Based on: photo 6 · AI review

Questions for the agent

  • What are the current rents and when did each tenant start?
  • What are the property taxes, and is the listed tax the homestead or non-homestead amount?
  • Who pays heat, electric, water and trash, and are there separate meters?
  • Is the property licensed as a rental in Blaine, and is it legally a duplex?
  • How old are the furnace(s), water heater and electrical panel?
  • Why has it sat 48 days, and is the seller open to a price cut?

Bottom line

Newly roofed and sided, but at $360K with unverified rents and month-to-month tenants, the numbers lose money and the price needs to come down. 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.$3,543
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,080
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 rate8% / 8%

Price history Realtor.com

On the market since 2026-08-18 (48 days); last sold for $258,000 on 2024-01-23.

DateEventPrice
Listed$360,000
Sold$258,000

From the listing Listing

Listed asduplex side x side
Property tax, 2026$3,543
CountyAnoka
Parcel number323123440016

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 Blaine on rental licensing before you buy.