Minneapolis › Whittier

2644 Garfield Ave

Minneapolis, MN · Whittier · Find the listing ↗

Overpriced

Asking price: $337,799
Monthly cash flow: −$533
Estimated rent: $3,000/mo
Break-even price: $237,739

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 / 1.5 bath (est.)$1,650 $1,400–$1,900
2 bed / 1.5 bath (est.)$1,350 $1,150–$1,550

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: $337,799
Monthly cash flow: −$533
Cash to close: $77,694
Cap rate: 4.5%
Cash-on-cash: −8.2%
DSCR: 0.70×
GRM: 9.4
Price per unit: $168,900
Price that breaks even: $237,739
Rent that breaks even: $3,692/mo
Cash flow turns positive: year 15
Year 30: property vs stocks: $875K vs $862K

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Estimate	−$591
Insurance Estimate	−$224
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,265
Mortgage (principal + interest)	−$1,798
Cash flow	−$533
Principal paid down (equity, not cash)	$229

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 $875K, stocks $862K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $304,019 of principal by year 30	$0
Plus rental profits, invested at 7%$38,837 of profit by year 30, before investment growth	$48,534
What you'd walk away with	$819,265
If you put the same money in stocks
Cash to close ($43,914) invested at 7%	$334,284
Monthly shortfalls ($104,454 total by yr 30) investedThe money you'd have put into the building while it lost money	$528,014
What you'd walk away with	$862,298
Building minus stocks	−$43,033

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $304,019 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	$770,731
If you put the same money in stocks
Cash to close ($43,914) invested at 7%	$334,284
Monthly shortfalls ($210,513 total by yr 30) investedThe money you'd have put into the building while it lost money	$874,266
What you'd walk away with	$1,208,549
Building minus stocks	−$437,818

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $295,019 of principal by year 30	$0
Plus rental profits, invested at 7%$47,094 of profit by year 30, before investment growth	$60,618
What you'd walk away with	$808,533
If you put the same money in stocks
Cash to close ($42,614) invested at 7%	$324,388
Monthly shortfalls ($90,885 total by yr 30) investedThe money you'd have put into the building while it lost money	$470,485
What you'd walk away with	$794,873
Building minus stocks	$13,660

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $295,019 of principal by year 30	$0
Plus rental profits, invested at 7%$652 of profit by year 30, before investment growth	$656
What you'd walk away with	$748,571
If you put the same money in stocks
Cash to close ($42,614) invested at 7%	$324,388
Monthly shortfalls ($189,339 total by yr 30) investedThe money you'd have put into the building while it lost money	$805,308
What you'd walk away with	$1,129,696
Building minus stocks	−$381,125

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $270,239 of principal by year 30	$0
Plus rental profits, invested at 7%$74,421 of profit by year 30, before investment growth	$104,501
What you'd walk away with	$875,233
If you put the same money in stocks
Cash to close ($77,694) invested at 7%	$591,425
Monthly shortfalls ($50,012 total by yr 30) investedThe money you'd have put into the building while it lost money	$270,442
What you'd walk away with	$861,867
Building minus stocks	$13,366

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $270,239 of principal by year 30	$0
Plus rental profits, invested at 7%$7,545 of profit by year 30, before investment growth	$8,268
What you'd walk away with	$778,999
If you put the same money in stocks
Cash to close ($77,694) invested at 7%	$591,425
Monthly shortfalls ($128,032 total by yr 30) investedThe money you'd have put into the building while it lost money	$568,994
What you'd walk away with	$1,160,419
Building minus stocks	−$381,420

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $262,239 of principal by year 30	$0
Plus rental profits, invested at 7%$84,806 of profit by year 30, before investment growth	$122,803
What you'd walk away with	$870,718
If you put the same money in stocks
Cash to close ($75,394) invested at 7%	$573,917
Monthly shortfalls ($41,236 total by yr 30) investedThe money you'd have put into the building while it lost money	$228,413
What you'd walk away with	$802,330
Building minus stocks	$68,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $262,239 of principal by year 30	$0
Plus rental profits, invested at 7%$11,442 of profit by year 30, before investment growth	$12,938
What you'd walk away with	$760,853
If you put the same money in stocks
Cash to close ($75,394) invested at 7%	$573,917
Monthly shortfalls ($112,768 total by yr 30) investedThe money you'd have put into the building while it lost money	$513,333
What you'd walk away with	$1,087,250
Building minus stocks	−$326,397

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $253,349 of principal by year 30	$0
Plus rental profits, invested at 7%$97,225 of profit by year 30, before investment growth	$145,807
What you'd walk away with	$916,538
If you put the same money in stocks
Cash to close ($94,584) invested at 7%	$719,995
Monthly shortfalls ($32,363 total by yr 30) investedThe money you'd have put into the building while it lost money	$184,374
What you'd walk away with	$904,370
Building minus stocks	$12,168

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$819,927
Minus 6% selling cost	−$49,196
Minus loan still owedTenants' rent paid down all $253,349 of principal by year 30	$0
Plus rental profits, invested at 7%$16,742 of profit by year 30, before investment growth	$19,613
What you'd walk away with	$790,344
If you put the same money in stocks
Cash to close ($94,584) invested at 7%	$719,995
Monthly shortfalls ($96,776 total by yr 30) investedThe money you'd have put into the building while it lost money	$452,966
What you'd walk away with	$1,172,961
Building minus stocks	−$382,617

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $245,849 of principal by year 30	$0
Plus rental profits, invested at 7%$108,444 of profit by year 30, before investment growth	$167,656
What you'd walk away with	$915,571
If you put the same money in stocks
Cash to close ($91,784) invested at 7%	$698,681
Monthly shortfalls ($25,619 total by yr 30) investedThe money you'd have put into the building while it lost money	$149,663
What you'd walk away with	$848,344
Building minus stocks	$67,227

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$795,654
Minus 6% selling cost	−$47,739
Minus loan still owedTenants' rent paid down all $245,849 of principal by year 30	$0
Plus rental profits, invested at 7%$21,990 of profit by year 30, before investment growth	$26,542
What you'd walk away with	$774,457
If you put the same money in stocks
Cash to close ($91,784) invested at 7%	$698,681
Monthly shortfalls ($84,060 total by yr 30) investedThe money you'd have put into the building while it lost money	$403,334
What you'd walk away with	$1,102,015
Building minus stocks	−$327,558

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

mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 2644 GARFIELD AVE
low$995 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 3402924320137: special assessments (current) = $994.63

Opportunities

None found.

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 Estimateestimate. No tax record found; 2.1% of price.	$7,094
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,682
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 1906: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1906
Market value (2026)	$399,100
Property tax	$6,007
Special assessments	$995
Homestead	no
Last sale	2018-09-01 · $457,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 35W, about 1052 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

2026-07-28New at $337,799