1108 W 28th St

Minneapolis, MN · Lowry Hill East · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $409,900
Monthly cash flow: −$617
Estimated rent: $3,300/mo
Break-even price: $293,978

Adjust these numbers in the calculator See the full breakdown

The numbers

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

Estimated rent per unit Estimate

3 bed / 1 bath (est.)$1,650 $1,400–$1,900
3 bed / 1 bath (est.)$1,650 $1,400–$1,900

Rough screening estimate from bedroom count only ($750 + $300 per bedroom, ±15%). Not comparable-rental data; a RentCast estimate replaces it for the top candidates. Confidence: low.

Rent rules: No rent cap.

Price: $409,900
Monthly cash flow: −$617
Cash to close: $94,277
Cap rate: 4.6%
Cash-on-cash: −7.9%
DSCR: 0.72×
GRM: 10.4
Price per unit: $204,950
Price that breaks even: $293,978
Rent that breaks even: $4,101/mo
Cash flow turns positive: year 14
Year 30: property vs stocks: $1.10M vs $1.01M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$507
Insurance Estimate	−$239
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,565
Mortgage (principal + interest)	−$2,182
Cash flow	−$617
Principal paid down (equity, not cash)	$278

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.10M, stocks $1.01M. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $368,910 of principal by year 30	$0
Plus rental profits, invested at 7%$65,517 of profit by year 30, before investment growth	$84,842
What you'd walk away with	$1,020,081
If you put the same money in stocks
Cash to close ($53,287) invested at 7%	$405,634
Monthly shortfalls ($114,294 total by yr 30) investedThe money you'd have put into the building while it lost money	$594,342
What you'd walk away with	$999,976
Building minus stocks	$20,105

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $368,910 of principal by year 30	$0
Plus rental profits, invested at 7%$6,288 of profit by year 30, before investment growth	$6,691
What you'd walk away with	$941,930
If you put the same money in stocks
Cash to close ($53,287) invested at 7%	$405,634
Monthly shortfalls ($214,450 total by yr 30) investedThe money you'd have put into the building while it lost money	$950,455
What you'd walk away with	$1,356,089
Building minus stocks	−$414,159

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$74,778 of profit by year 30, before investment growth	$99,133
What you'd walk away with	$1,011,556
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($101,729 total by yr 30) investedThe money you'd have put into the building while it lost money	$539,020
What you'd walk away with	$934,759
Building minus stocks	$76,797

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$9,570 of profit by year 30, before investment growth	$10,415
What you'd walk away with	$922,838
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($195,906 total by yr 30) investedThe money you'd have put into the building while it lost money	$884,566
What you'd walk away with	$1,280,304
Building minus stocks	−$357,466

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $327,920 of principal by year 30	$0
Plus rental profits, invested at 7%$113,365 of profit by year 30, before investment growth	$164,328
What you'd walk away with	$1,099,567
If you put the same money in stocks
Cash to close ($94,277) invested at 7%	$717,661
Monthly shortfalls ($52,900 total by yr 30) investedThe money you'd have put into the building while it lost money	$293,365
What you'd walk away with	$1,011,026
Building minus stocks	$88,541

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $327,920 of principal by year 30	$0
Plus rental profits, invested at 7%$27,160 of profit by year 30, before investment growth	$32,246
What you'd walk away with	$967,485
If you put the same money in stocks
Cash to close ($94,277) invested at 7%	$717,661
Monthly shortfalls ($126,080 total by yr 30) investedThe money you'd have put into the building while it lost money	$595,548
What you'd walk away with	$1,313,208
Building minus stocks	−$345,723

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$124,453 of profit by year 30, before investment growth	$184,750
What you'd walk away with	$1,097,173
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($44,827 total by yr 30) investedThe money you'd have put into the building while it lost money	$253,456
What you'd walk away with	$953,609
Building minus stocks	$143,564

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$33,076 of profit by year 30, before investment growth	$40,205
What you'd walk away with	$952,628
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($112,835 total by yr 30) investedThe money you'd have put into the building while it lost money	$543,175
What you'd walk away with	$1,243,327
Building minus stocks	−$290,699

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $307,425 of principal by year 30	$0
Plus rental profits, invested at 7%$142,968 of profit by year 30, before investment growth	$220,557
What you'd walk away with	$1,155,796
If you put the same money in stocks
Cash to close ($114,772) invested at 7%	$873,674
Monthly shortfalls ($33,416 total by yr 30) investedThe money you'd have put into the building while it lost money	$195,034
What you'd walk away with	$1,068,707
Building minus stocks	$87,089

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $307,425 of principal by year 30	$0
Plus rental profits, invested at 7%$43,578 of profit by year 30, before investment growth	$55,022
What you'd walk away with	$990,261
If you put the same money in stocks
Cash to close ($114,772) invested at 7%	$873,674
Monthly shortfalls ($93,410 total by yr 30) investedThe money you'd have put into the building while it lost money	$463,762
What you'd walk away with	$1,337,436
Building minus stocks	−$347,175

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$154,852 of profit by year 30, before investment growth	$244,774
What you'd walk away with	$1,157,196
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($27,336 total by yr 30) investedThe money you'd have put into the building while it lost money	$162,689
What you'd walk away with	$1,015,049
Building minus stocks	$142,147

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$50,664 of profit by year 30, before investment growth	$65,526
What you'd walk away with	$977,948
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($82,534 total by yr 30) investedThe money you'd have put into the building while it lost money	$417,705
What you'd walk away with	$1,270,065
Building minus stocks	−$292,117

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.

Red flags and opportunities

Watch for

low$138 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 3302924420084: special assessments (current) = $138.04

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$6,082
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,874
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 1910: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1910
Market value (2026)	$321,500
Property tax	$6,082
Special assessments	$138
Homestead	no
Last sale	2018-06-01 · $283,500

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 94;MN 55, about 1484 m away.

Crime in Lowry Hill East

647 incidents in the last 12 months (74 per 1,000 residents), −3% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-15New at $409,900