Minneapolis › Harrison

226 Gramercy Ave

Minneapolis, MN · Harrison · Find the listing ↗

Overpriced

Asking price: $400,000
Monthly cash flow: −$698
Estimated rent: $3,450/mo
Break-even price: $268,782

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

2 bed / 1 bath (est.)$1,350 $1,150–$1,550
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: $400,000
Monthly cash flow: −$698
Cash to close: $92,000
Cap rate: 4.3%
Cash-on-cash: −9.1%
DSCR: 0.67×
GRM: 9.7
Price per unit: $133,333
Price that breaks even: $268,782
Rent that breaks even: $4,357/mo
Cash flow turns positive: year 17
Year 30: property vs stocks: $1.00M vs $1.09M

Monthly breakdown

Rent	$3,450
Vacancy (6%)	−$207
Collected	$3,243
Property tax Public record	−$602
Insurance Estimate	−$309
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$276
Capital reserve (9% of rent)	−$310
Net operating income	$1,431
Mortgage (principal + interest)	−$2,129
Cash flow	−$698
Principal paid down (equity, not cash)	$271

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 $1.00M, stocks $1.09M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $360,000 of principal by year 30	$0
Plus rental profits, invested at 7%$29,660 of profit by year 30, before investment growth	$35,307
What you'd walk away with	$947,958
If you put the same money in stocks
Cash to close ($52,000) invested at 7%	$395,837
Monthly shortfalls ($145,513 total by yr 30) investedThe money you'd have put into the building while it lost money	$707,477
What you'd walk away with	$1,103,315
Building minus stocks	−$155,357

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $360,000 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	$912,651
If you put the same money in stocks
Cash to close ($52,000) invested at 7%	$395,837
Monthly shortfalls ($282,483 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,126,174
What you'd walk away with	$1,522,011
Building minus stocks	−$609,360

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $351,000 of principal by year 30	$0
Plus rental profits, invested at 7%$36,407 of profit by year 30, before investment growth	$44,429
What you'd walk away with	$934,264
If you put the same money in stocks
Cash to close ($50,700) invested at 7%	$385,941
Monthly shortfalls ($130,435 total by yr 30) investedThe money you'd have put into the building while it lost money	$646,987
What you'd walk away with	$1,032,928
Building minus stocks	−$98,664

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $351,000 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	$889,834
If you put the same money in stocks
Cash to close ($50,700) invested at 7%	$385,941
Monthly shortfalls ($260,658 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,056,561
What you'd walk away with	$1,442,502
Building minus stocks	−$552,668

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $320,000 of principal by year 30	$0
Plus rental profits, invested at 7%$65,460 of profit by year 30, before investment growth	$87,536
What you'd walk away with	$1,000,187
If you put the same money in stocks
Cash to close ($92,000) invested at 7%	$700,327
Monthly shortfalls ($74,709 total by yr 30) investedThe money you'd have put into the building while it lost money	$388,433
What you'd walk away with	$1,088,760
Building minus stocks	−$88,573

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $320,000 of principal by year 30	$0
Plus rental profits, invested at 7%$2,494 of profit by year 30, before investment growth	$2,587
What you'd walk away with	$915,238
If you put the same money in stocks
Cash to close ($92,000) invested at 7%	$700,327
Monthly shortfalls ($178,374 total by yr 30) investedThe money you'd have put into the building while it lost money	$757,487
What you'd walk away with	$1,457,815
Building minus stocks	−$542,577

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $312,000 of principal by year 30	$0
Plus rental profits, invested at 7%$74,511 of profit by year 30, before investment growth	$102,221
What you'd walk away with	$992,056
If you put the same money in stocks
Cash to close ($89,700) invested at 7%	$682,819
Monthly shortfalls ($64,600 total by yr 30) investedThe money you'd have put into the building while it lost money	$342,787
What you'd walk away with	$1,025,606
Building minus stocks	−$33,550

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $312,000 of principal by year 30	$0
Plus rental profits, invested at 7%$4,713 of profit by year 30, before investment growth	$5,011
What you'd walk away with	$894,846
If you put the same money in stocks
Cash to close ($89,700) invested at 7%	$682,819
Monthly shortfalls ($161,432 total by yr 30) investedThe money you'd have put into the building while it lost money	$699,580
What you'd walk away with	$1,382,399
Building minus stocks	−$487,553

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $300,000 of principal by year 30	$0
Plus rental profits, invested at 7%$89,336 of profit by year 30, before investment growth	$127,550
What you'd walk away with	$1,040,201
If you put the same money in stocks
Cash to close ($112,000) invested at 7%	$852,573
Monthly shortfalls ($50,684 total by yr 30) investedThe money you'd have put into the building while it lost money	$277,619
What you'd walk away with	$1,130,191
Building minus stocks	−$89,990

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,905
Minus 6% selling cost	−$58,254
Minus loan still owedTenants' rent paid down all $300,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,381 of profit by year 30, before investment growth	$10,373
What you'd walk away with	$923,024
If you put the same money in stocks
Cash to close ($112,000) invested at 7%	$852,573
Monthly shortfalls ($137,359 total by yr 30) investedThe money you'd have put into the building while it lost money	$614,445
What you'd walk away with	$1,467,017
Building minus stocks	−$543,993

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $292,500 of principal by year 30	$0
Plus rental profits, invested at 7%$99,370 of profit by year 30, before investment growth	$145,589
What you'd walk away with	$1,035,424
If you put the same money in stocks
Cash to close ($109,200) invested at 7%	$831,258
Monthly shortfalls ($42,755 total by yr 30) investedThe money you'd have put into the building while it lost money	$239,098
What you'd walk away with	$1,070,356
Building minus stocks	−$34,932

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,632
Minus 6% selling cost	−$56,798
Minus loan still owedTenants' rent paid down all $292,500 of principal by year 30	$0
Plus rental profits, invested at 7%$13,168 of profit by year 30, before investment growth	$14,949
What you'd walk away with	$904,783
If you put the same money in stocks
Cash to close ($109,200) invested at 7%	$831,258
Monthly shortfalls ($123,183 total by yr 30) investedThe money you'd have put into the building while it lost money	$562,460
What you'd walk away with	$1,393,718
Building minus stocks	−$488,935

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 $131,218 above the price where cash flow breaks even ($268,782) at the default scenario. Based on: Derived: price $400,000 vs. break-even $268,782

Opportunities

The seller bought for $190,000 in Aug 2017, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 2102924340168: last sale 2017-08-01, $190,000

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)	$7,229
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,703
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. built 1912: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	triplex
Living units	3
Year built	1912
Market value (2026)	$380,600
Property tax	$7,229
Special assessments	none
Homestead	no
Last sale	2017-08-01 · $190,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 394 EXPR, about 904 m away.

Crime in Harrison

243 incidents in the last 12 months (75 per 1,000 residents), +26% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-18Price cut at $400,000 (was $410,000) · from listing history
2026-08-18New at $400,000