Minneapolis › Corcoran

1911 E 32nd St

Minneapolis, MN · Corcoran · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $900,000
Monthly cash flow: −$1,818
Estimated rent: $4,950/mo
Break-even price: $558,340

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 / 2 bath (est.)$1,650 $1,400–$1,900
3 bed / 2 bath (est.)$1,650 $1,400–$1,900
3 bed / 2 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: $900,000
Monthly cash flow: −$1,818
Cash to close: $207,000
Cap rate: 4.0%
Cash-on-cash: −10.5%
DSCR: 0.62×
GRM: 15.2
Price per unit: $300,000
Price that breaks even: $558,340
Rent that breaks even: $7,312/mo
Cash flow turns positive: year 18
Year 30: property vs stocks: $2.24M vs $2.64M

Monthly breakdown

Rent	$4,950
Vacancy (6%)	−$297
Collected	$4,653
Property tax Public record	−$187
Insurance Estimate	−$338
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$446
Capital reserve (8% of rent)	−$396
Net operating income	$2,972
Mortgage (principal + interest)	−$4,790
Cash flow	−$1,818
Principal paid down (equity, not cash)	$609

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 $2.24M, stocks $2.64M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $810,000 of principal by year 30	$0
Plus rental profits, invested at 7%$67,544 of profit by year 30, before investment growth	$79,233
What you'd walk away with	$2,132,697
If you put the same money in stocks
Cash to close ($117,000) invested at 7%	$890,634
Monthly shortfalls ($376,081 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,799,234
What you'd walk away with	$2,689,868
Building minus stocks	−$557,171

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $810,000 of principal by year 30	$0
Plus rental profits, invested at 7%$6,278 of profit by year 30, before investment growth	$6,461
What you'd walk away with	$2,059,925
If you put the same money in stocks
Cash to close ($117,000) invested at 7%	$890,634
Monthly shortfalls ($553,893 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,377,858
What you'd walk away with	$3,268,492
Building minus stocks	−$1,208,567

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $801,000 of principal by year 30	$0
Plus rental profits, invested at 7%$73,676 of profit by year 30, before investment growth	$87,264
What you'd walk away with	$2,117,912
If you put the same money in stocks
Cash to close ($115,700) invested at 7%	$880,738
Monthly shortfalls ($360,387 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,737,653
What you'd walk away with	$2,618,391
Building minus stocks	−$500,479

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $801,000 of principal by year 30	$0
Plus rental profits, invested at 7%$8,434 of profit by year 30, before investment growth	$8,771
What you'd walk away with	$2,039,419
If you put the same money in stocks
Cash to close ($115,700) invested at 7%	$880,738
Monthly shortfalls ($534,223 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,310,555
What you'd walk away with	$3,191,293
Building minus stocks	−$1,151,874

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $720,000 of principal by year 30	$0
Plus rental profits, invested at 7%$141,992 of profit by year 30, before investment growth	$184,206
What you'd walk away with	$2,237,671
If you put the same money in stocks
Cash to close ($207,000) invested at 7%	$1,575,737
Monthly shortfalls ($210,671 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,068,842
What you'd walk away with	$2,644,579
Building minus stocks	−$406,908

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $720,000 of principal by year 30	$0
Plus rental profits, invested at 7%$40,355 of profit by year 30, before investment growth	$45,816
What you'd walk away with	$2,099,280
If you put the same money in stocks
Cash to close ($207,000) invested at 7%	$1,575,737
Monthly shortfalls ($348,112 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,581,847
What you'd walk away with	$3,157,584
Building minus stocks	−$1,058,304

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $712,000 of principal by year 30	$0
Plus rental profits, invested at 7%$150,295 of profit by year 30, before investment growth	$197,070
What you'd walk away with	$2,227,718
If you put the same money in stocks
Cash to close ($204,700) invested at 7%	$1,558,229
Monthly shortfalls ($199,813 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,021,375
What you'd walk away with	$2,579,603
Building minus stocks	−$351,885

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $712,000 of principal by year 30	$0
Plus rental profits, invested at 7%$44,826 of profit by year 30, before investment growth	$51,343
What you'd walk away with	$2,081,991
If you put the same money in stocks
Cash to close ($204,700) invested at 7%	$1,558,229
Monthly shortfalls ($333,422 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,527,043
What you'd walk away with	$3,085,272
Building minus stocks	−$1,003,281

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $675,000 of principal by year 30	$0
Plus rental profits, invested at 7%$191,215 of profit by year 30, before investment growth	$262,715
What you'd walk away with	$2,316,179
If you put the same money in stocks
Cash to close ($252,000) invested at 7%	$1,918,288
Monthly shortfalls ($152,115 total by yr 30) investedThe money you'd have put into the building while it lost money	$807,988
What you'd walk away with	$2,726,276
Building minus stocks	−$410,097

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $675,000 of principal by year 30	$0
Plus rental profits, invested at 7%$69,239 of profit by year 30, before investment growth	$83,027
What you'd walk away with	$2,136,491
If you put the same money in stocks
Cash to close ($252,000) invested at 7%	$1,918,288
Monthly shortfalls ($269,216 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,279,696
What you'd walk away with	$3,197,984
Building minus stocks	−$1,061,493

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $667,500 of principal by year 30	$0
Plus rental profits, invested at 7%$200,196 of profit by year 30, before investment growth	$277,762
What you'd walk away with	$2,308,410
If you put the same money in stocks
Cash to close ($249,200) invested at 7%	$1,896,974
Monthly shortfalls ($143,133 total by yr 30) investedThe money you'd have put into the building while it lost money	$766,474
What you'd walk away with	$2,663,448
Building minus stocks	−$355,038

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $667,500 of principal by year 30	$0
Plus rental profits, invested at 7%$74,817 of profit by year 30, before investment growth	$90,547
What you'd walk away with	$2,121,195
If you put the same money in stocks
Cash to close ($249,200) invested at 7%	$1,896,974
Monthly shortfalls ($256,831 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,230,655
What you'd walk away with	$3,127,629
Building minus stocks	−$1,006,434

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

mediumAsking is $341,660 above the price where cash flow breaks even ($558,340) at the default scenario. Based on: Derived: price $900,000 vs. break-even $558,340
low$293 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 0102824230019: special assessments (current) = $292.76

Opportunities

The seller bought for $130,000 in Jul 2021, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 0102824230019: last sale 2021-07-01, $130,000

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)	$2,247
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,050
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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. 9 bedrooms: +1 pt repairs for wear	9% / 8%

County record Public record

Recorded as	triplex
Living units	3
Year built	2022
Market value (2026)	$118,800
Property tax	$2,247
Special assessments	$293
Homestead	no
Last sale	2021-07-01 · $130,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

MN 55, about 582 m away.

Crime in Corcoran

278 incidents in the last 12 months (62 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

2026-07-09New at $900,000