Minneapolis › Whittier

2021 3rd Ave S

Minneapolis, MN · Whittier · Find the listing ↗

Far off

Asking price: $565,000
Monthly cash flow: −$1,600
Estimated rent: $2,600/mo
Break-even price: $264,394

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

9 bed / 6 bath (est.)$2,600 $2,200–$3,000

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: $565,000
Monthly cash flow: −$1,600
Cash to close: $129,950
Cap rate: 3.0%
Cash-on-cash: −14.8%
DSCR: 0.47×
GRM: 18.1
Price per unit: $565,000
Price that breaks even: $264,394
Rent that breaks even: $4,705/mo
Cash flow turns positive: year 29
Year 30: property vs stocks: $1.29M vs $2.26M

Monthly breakdown

Rent	$2,600
Vacancy (6%)	−$156
Collected	$2,444
Property tax Public record	−$169
Insurance Estimate	−$255
Water, sewer, trash Estimate	−$85
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$234
Capital reserve (9% of rent)	−$234
Net operating income	$1,407
Mortgage (principal + interest)	−$3,007
Cash flow	−$1,600
Principal paid down (equity, not cash)	$383

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 $1.29M, stocks $2.26M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $508,500 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	$1,289,119
If you put the same money in stocks
Cash to close ($73,450) invested at 7%	$559,120
Monthly shortfalls ($457,394 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,796,592
What you'd walk away with	$2,355,712
Building minus stocks	−$1,066,593

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $508,500 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	$1,289,119
If you put the same money in stocks
Cash to close ($73,450) invested at 7%	$559,120
Monthly shortfalls ($582,971 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,138,739
What you'd walk away with	$2,697,859
Building minus stocks	−$1,408,740

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $499,500 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	$1,266,303
If you put the same money in stocks
Cash to close ($72,150) invested at 7%	$549,224
Monthly shortfalls ($435,569 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,726,979
What you'd walk away with	$2,276,203
Building minus stocks	−$1,009,900

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $499,500 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	$1,266,303
If you put the same money in stocks
Cash to close ($72,150) invested at 7%	$549,224
Monthly shortfalls ($561,145 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,069,126
What you'd walk away with	$2,618,350
Building minus stocks	−$1,352,047

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $452,000 of principal by year 30	$0
Plus rental profits, invested at 7%$1,565 of profit by year 30, before investment growth	$1,585
What you'd walk away with	$1,290,704
If you put the same money in stocks
Cash to close ($129,950) invested at 7%	$989,213
Monthly shortfalls ($308,382 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,273,752
What you'd walk away with	$2,262,965
Building minus stocks	−$972,261

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $452,000 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	$1,289,119
If you put the same money in stocks
Cash to close ($129,950) invested at 7%	$989,213
Monthly shortfalls ($432,393 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,614,315
What you'd walk away with	$2,603,527
Building minus stocks	−$1,314,408

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $444,000 of principal by year 30	$0
Plus rental profits, invested at 7%$2,842 of profit by year 30, before investment growth	$2,907
What you'd walk away with	$1,269,210
If you put the same money in stocks
Cash to close ($127,650) invested at 7%	$971,704
Monthly shortfalls ($290,498 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,214,743
What you'd walk away with	$2,186,447
Building minus stocks	−$917,237

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $444,000 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	$1,266,303
If you put the same money in stocks
Cash to close ($127,650) invested at 7%	$971,704
Monthly shortfalls ($413,232 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,553,984
What you'd walk away with	$2,525,688
Building minus stocks	−$1,259,385

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $423,750 of principal by year 30	$0
Plus rental profits, invested at 7%$8,249 of profit by year 30, before investment growth	$8,791
What you'd walk away with	$1,297,910
If you put the same money in stocks
Cash to close ($158,200) invested at 7%	$1,204,259
Monthly shortfalls ($247,405 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,067,914
What you'd walk away with	$2,272,172
Building minus stocks	−$974,262

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $423,750 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	$1,289,119
If you put the same money in stocks
Cash to close ($158,200) invested at 7%	$1,204,259
Monthly shortfalls ($364,732 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,401,270
What you'd walk away with	$2,605,529
Building minus stocks	−$1,316,410

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $416,250 of principal by year 30	$0
Plus rental profits, invested at 7%$10,930 of profit by year 30, before investment growth	$11,824
What you'd walk away with	$1,278,127
If you put the same money in stocks
Cash to close ($155,400) invested at 7%	$1,182,944
Monthly shortfalls ($232,122 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,014,386
What you'd walk away with	$2,197,331
Building minus stocks	−$919,204

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,347,131
Minus 6% selling cost	−$80,828
Minus loan still owedTenants' rent paid down all $416,250 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	$1,266,303
If you put the same money in stocks
Cash to close ($155,400) invested at 7%	$1,182,944
Monthly shortfalls ($346,769 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,344,710
What you'd walk away with	$2,527,654
Building minus stocks	−$1,261,351

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 $300,606 above the price where cash flow breaks even ($264,394) at the default scenario. Based on: Derived: price $565,000 vs. break-even $264,394

Opportunities

The seller bought for $120,000 in Feb 2021, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 3402924110166: last sale 2021-02-01, $120,000
Long time on market: room to negotiate. Based on: Listing data: 144 days on market, 3 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)	$2,028
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,057
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$85
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 1891: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	condominium
Living units	1
Year built	1891
Market value (2026)	$131,000
Property tax	$2,028
Special assessments	none
Homestead	no
Last sale	2021-02-01 · $120,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 193 m away.

Crime in Whittier

1,136 incidents in the last 12 months (76 per 1,000 residents), +1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-05-11Price cut at $565,000 (was $599,900) · from listing history
2025-12-01Price cut at $599,900 (was $640,000) · from listing history
2025-06-25Price cut at $640,000 (was $690,000) · from listing history
2026-05-11New at $565,000