2313 Polk St NE

Minneapolis, MN · Windom Park · Find the listing ↗

Overpriced

Asking price: $399,900
Monthly cash flow: −$507
Estimated rent: $3,300/mo
Break-even price: $304,585

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.)$1,650 $1,400–$1,900
3 bed / 1 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: $399,900
Monthly cash flow: −$507
Cash to close: $91,977
Cap rate: 4.9%
Cash-on-cash: −6.6%
DSCR: 0.76×
GRM: 10.1
Price per unit: $199,950
Price that breaks even: $304,585
Rent that breaks even: $3,959/mo
Cash flow turns positive: year 12
Year 30: property vs stocks: $1.14M vs $907K

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$472
Insurance Estimate	−$218
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,621
Mortgage (principal + interest)	−$2,128
Cash flow	−$507
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 $1.14M, stocks $907K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$95,704 of profit by year 30, before investment growth	$131,781
What you'd walk away with	$1,044,204
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($87,682 total by yr 30) investedThe money you'd have put into the building while it lost money	$478,653
What you'd walk away with	$874,391
Building minus stocks	$169,813

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$19,872 of profit by year 30, before investment growth	$22,698
What you'd walk away with	$935,121
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($171,235 total by yr 30) investedThe money you'd have put into the building while it lost money	$803,833
What you'd walk away with	$1,199,572
Building minus stocks	−$264,451

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 of principal by year 30	$0
Plus rental profits, invested at 7%$106,720 of profit by year 30, before investment growth	$150,496
What you'd walk away with	$1,040,102
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($76,872 total by yr 30) investedThe money you'd have put into the building while it lost money	$427,754
What you'd walk away with	$813,596
Building minus stocks	$226,506

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 of principal by year 30	$0
Plus rental profits, invested at 7%$25,364 of profit by year 30, before investment growth	$29,659
What you'd walk away with	$919,266
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($154,901 total by yr 30) investedThe money you'd have put into the building while it lost money	$741,181
What you'd walk away with	$1,127,024
Building minus stocks	−$207,758

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$150,084 of profit by year 30, before investment growth	$231,142
What you'd walk away with	$1,143,565
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($35,485 total by yr 30) investedThe money you'd have put into the building while it lost money	$206,832
What you'd walk away with	$906,985
Building minus stocks	$236,580

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$49,883 of profit by year 30, before investment growth	$63,616
What you'd walk away with	$976,039
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($94,670 total by yr 30) investedThe money you'd have put into the building while it lost money	$473,570
What you'd walk away with	$1,173,723
Building minus stocks	−$197,684

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$162,725 of profit by year 30, before investment growth	$256,843
What you'd walk away with	$1,146,450
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
Monthly shortfalls ($28,965 total by yr 30) investedThe money you'd have put into the building while it lost money	$172,202
What you'd walk away with	$854,847
Building minus stocks	$291,603

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$57,696 of profit by year 30, before investment growth	$75,375
What you'd walk away with	$964,982
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
Monthly shortfalls ($83,322 total by yr 30) investedThe money you'd have put into the building while it lost money	$424,998
What you'd walk away with	$1,107,643
Building minus stocks	−$142,661

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$182,819 of profit by year 30, before investment growth	$299,787
What you'd walk away with	$1,212,209
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($20,331 total by yr 30) investedThe money you'd have put into the building while it lost money	$124,687
What you'd walk away with	$977,046
Building minus stocks	$235,163

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$70,614 of profit by year 30, before investment growth	$95,794
What you'd walk away with	$1,008,216
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($67,511 total by yr 30) investedThe money you'd have put into the building while it lost money	$354,958
What you'd walk away with	$1,207,317
Building minus stocks	−$199,101

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$196,103 of profit by year 30, before investment growth	$329,622
What you'd walk away with	$1,219,229
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
Monthly shortfalls ($15,652 total by yr 30) investedThe money you'd have put into the building while it lost money	$97,962
What you'd walk away with	$929,007
Building minus stocks	$290,222

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$79,444 of profit by year 30, before investment growth	$110,448
What you'd walk away with	$1,000,055
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
Monthly shortfalls ($58,377 total by yr 30) investedThe money you'd have put into the building while it lost money	$313,052
What you'd walk away with	$1,144,097
Building minus stocks	−$144,042

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

No red flags in the available data. That isn't the same as none.

Opportunities

The seller bought for $5,100 in Aug 2000, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1202924320060: last sale 2000-08-01, $5,100
Long time on market: room to negotiate. Based on: Listing data: 102 days on market

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)	$5,664
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,615
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)	$298,200
Property tax	$5,664
Special assessments	none
Homestead	no
Last sale	2000-08-01 · $5,100

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1279 m away.

Crime in Windom Park

193 incidents in the last 12 months (34 per 1,000 residents), +41% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-06-21New at $399,900