Minneapolis › Sheridan

1222 Washington St NE

Minneapolis, MN · Sheridan · Find the listing ↗

Far off

Asking price: $419,000
Monthly cash flow: −$1,743
Estimated rent: $2,100/mo
Break-even price: $91,488

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

1 bed / 1 bath (est.)$1,050 $900–$1,200
1 bed / 1 bath (est.)$1,050 $900–$1,200

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: $419,000
Monthly cash flow: −$1,743
Cash to close: $96,370
Cap rate: 1.4%
Cash-on-cash: −21.7%
DSCR: 0.22×
GRM: 16.6
Price per unit: $209,500
Price that breaks even: $91,488
Rent that breaks even: $4,364/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $956K vs $2.61M

Monthly breakdown

Rent	$2,100
Vacancy (6%)	−$126
Collected	$1,974
Property tax Public record	−$686
Insurance Estimate	−$214
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$168
Capital reserve (9% of rent)	−$189
Net operating income	$487
Mortgage (principal + interest)	−$2,230
Cash flow	−$1,743
Principal paid down (equity, not cash)	$284

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 $956K, stocks $2.61M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $377,100 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($54,470) invested at 7%	$414,640
Monthly shortfalls ($691,391 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,263,427
What you'd walk away with	$2,678,066
Building minus stocks	−$1,722,064

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $377,100 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($54,470) invested at 7%	$414,640
Monthly shortfalls ($792,818 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,539,776
What you'd walk away with	$2,954,416
Building minus stocks	−$1,998,414

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $368,100 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($53,170) invested at 7%	$404,744
Monthly shortfalls ($669,566 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,193,813
What you'd walk away with	$2,598,557
Building minus stocks	−$1,665,372

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $368,100 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($53,170) invested at 7%	$404,744
Monthly shortfalls ($770,993 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,470,163
What you'd walk away with	$2,874,907
Building minus stocks	−$1,941,722

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $335,200 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($96,370) invested at 7%	$733,593
Monthly shortfalls ($579,724 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,874,517
What you'd walk away with	$2,608,110
Building minus stocks	−$1,652,108

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $335,200 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($96,370) invested at 7%	$733,593
Monthly shortfalls ($681,151 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,150,867
What you'd walk away with	$2,884,460
Building minus stocks	−$1,928,458

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $327,200 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($94,070) invested at 7%	$716,085
Monthly shortfalls ($560,564 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,814,186
What you'd walk away with	$2,530,271
Building minus stocks	−$1,597,086

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $327,200 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($94,070) invested at 7%	$716,085
Monthly shortfalls ($661,990 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,090,536
What you'd walk away with	$2,806,621
Building minus stocks	−$1,873,436

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $314,250 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($117,320) invested at 7%	$893,070
Monthly shortfalls ($529,547 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,716,525
What you'd walk away with	$2,609,595
Building minus stocks	−$1,653,593

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,017,023
Minus 6% selling cost	−$61,021
Minus loan still owedTenants' rent paid down all $314,250 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$956,002
If you put the same money in stocks
Cash to close ($117,320) invested at 7%	$893,070
Monthly shortfalls ($630,974 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,992,875
What you'd walk away with	$2,885,945
Building minus stocks	−$1,929,943

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $306,750 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($114,520) invested at 7%	$871,755
Monthly shortfalls ($511,584 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,659,965
What you'd walk away with	$2,531,720
Building minus stocks	−$1,598,535

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$992,750
Minus 6% selling cost	−$59,565
Minus loan still owedTenants' rent paid down all $306,750 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$933,185
If you put the same money in stocks
Cash to close ($114,520) invested at 7%	$871,755
Monthly shortfalls ($613,011 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,936,314
What you'd walk away with	$2,808,070
Building minus stocks	−$1,874,885

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

medium$3,631 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 1402924240132: special assessments (current) = $3,630.74
mediumAsking is $327,512 above the price where cash flow breaks even ($91,488) at the default scenario. Based on: Derived: price $419,000 vs. break-even $91,488

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)	$8,227
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,574
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%

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$433,200
Property tax	$8,227
Special assessments	$3,631
Homestead	no
Last sale	2009-09-01 · $245,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1557 m away.

Crime in Sheridan

161 incidents in the last 12 months (48 per 1,000 residents), −4% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-07-22New at $419,000