1508 E 26th St

Minneapolis, MN · Midtown Phillips · Listing office ↗ · Find the listing ↗

Cash flows

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price: $529,999
Monthly cash flow: $1,936
Estimated rent: $8,550/mo
Break-even price: $893,695

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.)$1,950 $1,800–$2,125
2 bed / 1 bath (est.)$1,650 $1,500–$1,850
2 bed / 1 bath (est.)$1,650 $1,500–$1,850
2 bed / 1 bath (est.)$1,650 $1,500–$1,850
2 bed / 1 bath (est.)$1,650 $1,500–$1,850

RentCast long-term rent estimate per unit, with our adjustments listed below. Confidence: medium. As of 2026-10-02. See the comparable rentals ↓

Rent rules: No rent cap.

Price: $529,999
Monthly cash flow: $1,936
Cash to close: $121,900
Cap rate: 10.8%
Cash-on-cash: 19.1%
DSCR: 1.69×
GRM: 5.2
Price per unit: $106,000
Price that breaks even: $893,695
Rent that breaks even: $6,003/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $5.25M vs $928K

Monthly breakdown

Rent	$8,550
Vacancy (6%)	−$513
Collected	$8,037
Property tax Public record	−$772
Insurance Estimate	−$484
Water, sewer, trash Estimate	−$425
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$770
Capital reserve (9% of rent)	−$770
Net operating income	$4,757
Mortgage (principal + interest)	−$2,821
Cash flow	$1,936
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: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $5.25M, stocks $928K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $476,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,474,238 of profit by year 30, before investment growth	$3,549,063
What you'd walk away with	$4,758,323
If you put the same money in stocks
Cash to close ($68,900) invested at 7%	$524,483
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$524,483
Building minus stocks	$4,233,840

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $476,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,061,285 of profit by year 30, before investment growth	$2,423,925
What you'd walk away with	$3,633,185
If you put the same money in stocks
Cash to close ($68,900) invested at 7%	$524,483
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$524,483
Building minus stocks	$3,108,702

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $467,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,496,064 of profit by year 30, before investment growth	$3,618,676
What you'd walk away with	$4,805,120
If you put the same money in stocks
Cash to close ($67,600) invested at 7%	$514,587
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$514,587
Building minus stocks	$4,290,533

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $467,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,083,111 of profit by year 30, before investment growth	$2,493,538
What you'd walk away with	$3,679,982
If you put the same money in stocks
Cash to close ($67,600) invested at 7%	$514,587
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$514,587
Building minus stocks	$3,165,395

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $423,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,615,487 of profit by year 30, before investment growth	$4,041,000
What you'd walk away with	$5,250,260
If you put the same money in stocks
Cash to close ($121,900) invested at 7%	$927,932
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$927,932
Building minus stocks	$4,322,328

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $423,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,202,535 of profit by year 30, before investment growth	$2,915,862
What you'd walk away with	$4,125,121
If you put the same money in stocks
Cash to close ($121,900) invested at 7%	$927,932
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$927,932
Building minus stocks	$3,197,189

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $415,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,634,648 of profit by year 30, before investment growth	$4,101,331
What you'd walk away with	$5,287,775
If you put the same money in stocks
Cash to close ($119,600) invested at 7%	$910,424
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$910,424
Building minus stocks	$4,377,351

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $415,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,221,695 of profit by year 30, before investment growth	$2,976,193
What you'd walk away with	$4,162,636
If you put the same money in stocks
Cash to close ($119,600) invested at 7%	$910,424
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$910,424
Building minus stocks	$3,252,212

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $397,499 of principal by year 30	$0
Plus rental profits, invested at 7%$1,678,957 of profit by year 30, before investment growth	$4,240,846
What you'd walk away with	$5,450,106
If you put the same money in stocks
Cash to close ($148,400) invested at 7%	$1,129,657
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,129,657
Building minus stocks	$4,320,449

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,447
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $397,499 of principal by year 30	$0
Plus rental profits, invested at 7%$1,266,004 of profit by year 30, before investment growth	$3,115,708
What you'd walk away with	$4,324,968
If you put the same money in stocks
Cash to close ($148,400) invested at 7%	$1,129,657
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,129,657
Building minus stocks	$3,195,311

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $389,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,696,920 of profit by year 30, before investment growth	$4,297,407
What you'd walk away with	$5,483,851
If you put the same money in stocks
Cash to close ($145,600) invested at 7%	$1,108,342
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,108,342
Building minus stocks	$4,375,509

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,174
Minus 6% selling cost	−$75,730
Minus loan still owedTenants' rent paid down all $389,999 of principal by year 30	$0
Plus rental profits, invested at 7%$1,283,968 of profit by year 30, before investment growth	$3,172,269
What you'd walk away with	$4,358,712
If you put the same money in stocks
Cash to close ($145,600) invested at 7%	$1,108,342
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,108,342
Building minus stocks	$3,250,370

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.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-02. The estimate above is RentCast's, weighted toward the closest matches.

3 bed / 1 bath estimate $1,950/mo · range $1,800–$2,125

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
2636 14th Ave S, Apt 2, Minneapolis 55407 off market	$1,650	3 / 1	—	0.1 mi	2026-07-10	94%
2709 Bloomington Ave S, Unit 2, Minneapolis 55407 off market	$1,900	3 / 1	—	0.2 mi	2026-05-21	94%
2709 Bloomington Ave S, Minneapolis 55407 off market	$1,900	3 / 1	—	0.2 mi	2026-05-02	94%
2205 10th Ave S, Minneapolis 55404 off market	$1,700	3 / 1	—	0.5 mi	2026-06-25	93%
1829 11th Ave S, Minneapolis 55404 off market	$1,550	3 / 1	—	0.6 mi	2026-06-16	93%
3255 15th Ave S, Apt 2, Minneapolis 55407	$1,800	3 / 1	1,500	0.9 mi	2026-09-30	86%
2742 18th Ave S, Minneapolis 55407	$1,995	3 / 1	1,270	0.3 mi	2026-09-08	85%
200 E 27th St, Minneapolis 55408	$1,835	3 / 1	1,400	1.0 mi	2026-09-15	85%
202 E 27th St, Minneapolis 55408 off market	$1,590	3 / 1	1,400	1.0 mi	2026-07-09	85%
735 E 16th St, Minneapolis 55404	$1,466	3 / 1	1,296	0.9 mi	2026-03-11	85%

2 bed / 1 bath estimate $1,650/mo · range $1,500–$1,850

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
2643 12th Ave S, Unit 1, Minneapolis 55407	$1,785	2 / 1	—	0.2 mi	2023-06-08	94%
2424 Chicago Ave S, Minneapolis 55404 off market	$1,400	2 / 1	—	0.5 mi	2025-10-15	93%
2835 Park Ave, Minneapolis 55407	$1,255	2 / 1	—	0.7 mi	2026-07-17	93%
2723 Portland Ave S, Minneapolis 55407	$1,536	2 / 1	—	0.7 mi	2026-07-17	93%
3029 Chicago Ave S, Minneapolis 55407 off market	$1,575	2 / 1	—	0.7 mi	2026-04-18	93%
3029-3031 Chicago Ave S, Minneapolis 55407 off market	$1,575	2 / 1	—	0.7 mi	2026-03-24	93%
3108 Oakland Ave, Minneapolis 55407 off market	$1,550	2 / 1	—	0.9 mi	2026-03-12	93%
2021 3rd Ave S, Apt B1, Minneapolis 55404 off market	$1,150	2 / 1	—	1.0 mi	2025-12-03	92%
1811 E 28th St, Minneapolis 55407 off market	$1,475	2 / 1	1,300	0.4 mi	2025-08-01	85%
3200 23rd Ave S, Unit 3202, Minneapolis 55407 off market	$1,245	2 / 1	1,300	1.0 mi	2026-04-21	84%

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

highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 1508 26TH ST E, units=4
mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 3502924130356: roof=Flat, exterior=WOOD

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 94 days on market, 1 price cuts

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)	$9,267
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$5,809
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$425
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 1913: +1 pt capital reserve; 11 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	apartment 4 or 5 unit
Living units	5
Year built	1913
Market value (2026)	$488,000
Property tax	$9,267
Special assessments	none
Homestead	no
Last sale	2021-12-01 · $493,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

MN 55, about 687 m away.

Crime in Midtown Phillips

409 incidents in the last 12 months (79 per 1,000 residents), +2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-06-30Price cut at $529,999 (was $539,999) · from listing history
2026-06-30New at $529,999