2709 Virginia Ave N

70 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $550,000
Monthly cash flow: −$38
Estimated rent: $5,725/mo
Break-even price: $542,798

Adjust the numbers See the full breakdown

From the listing

Solid investment opportunity in a desirable New Hope location! This fully rented 4-unit property offers an attractive combination of established rental income and a well-maintained building. Each unit provides comfortable living space, while the clean, well-kept common areas create a welcoming environment for residents and add to the overall appeal of the property. With all four units currently leased, this is an excellent opportunity for an investor looking for a property with established occupancy and income already in place. Conveniently located near shopping, dining, parks, schools, and major roadways, this property offers both tenant appeal and long-term investment potential.

Listing courtesy of RE/MAX Results (Kerby & Cristina Real Estate Experts). Description from Realtor.com, MLS #7132096. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $550,000
Cash to close: $126,500
Price per unit: $137,500
GRM: 8.0

Each month

Cash flow: −$38/mo
Cash-on-cash: −0.4%
Cap rate: 6.3%
DSCR: 0.99×

Break-even

Price that breaks even: $542,798
Rent that breaks even: $5,774/mo

Long run

Year 30: property vs stocks: $2.29M vs $966K
Cash flow turns positive: year 2

Monthly

Monthly breakdown

Rent	$5,725
Vacancy (6%)	−$344
Collected	$5,382
Property tax Listing	−$810
Insurance Estimate	−$367
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$458
Capital reserve (8% of rent)	−$458
Net operating income	$2,889
Mortgage (principal + interest)	−$2,927
Cash flow	−$38
Principal paid down (equity, not cash)	$372

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 of principal by year 30	$0
Plus rental profits, invested at 7%$401,756 of profit by year 30, before investment growth	$710,611
What you'd walk away with	$1,965,505
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($29,397 total by yr 30) investedThe money you'd have put into the building while it lost money	$190,673
What you'd walk away with	$734,949
Building minus stocks	$1,230,556

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $495,000 of principal by year 30	$0
Plus rental profits, invested at 7%$183,158 of profit by year 30, before investment growth	$269,472
What you'd walk away with	$1,524,367
If you put the same money in stocks
Cash to close ($71,500) invested at 7%	$544,276
Monthly shortfalls ($87,308 total by yr 30) investedThe money you'd have put into the building while it lost money	$502,917
What you'd walk away with	$1,047,193
Building minus stocks	$477,174

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 of principal by year 30	$0
Plus rental profits, invested at 7%$419,719 of profit by year 30, before investment growth	$756,057
What you'd walk away with	$1,988,135
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($25,534 total by yr 30) investedThe money you'd have put into the building while it lost money	$166,506
What you'd walk away with	$700,886
Building minus stocks	$1,287,249

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $486,000 of principal by year 30	$0
Plus rental profits, invested at 7%$196,091 of profit by year 30, before investment growth	$293,902
What you'd walk away with	$1,525,980
If you put the same money in stocks
Cash to close ($70,200) invested at 7%	$534,380
Monthly shortfalls ($78,415 total by yr 30) investedThe money you'd have put into the building while it lost money	$457,733
What you'd walk away with	$992,113
Building minus stocks	$533,867

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 of principal by year 30	$0
Plus rental profits, invested at 7%$519,399 of profit by year 30, before investment growth	$1,033,711
What you'd walk away with	$2,288,606
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($460 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,272
What you'd walk away with	$966,223
Building minus stocks	$1,322,383

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $440,000 of principal by year 30	$0
Plus rental profits, invested at 7%$269,871 of profit by year 30, before investment growth	$446,332
What you'd walk away with	$1,701,226
If you put the same money in stocks
Cash to close ($126,500) invested at 7%	$962,950
Monthly shortfalls ($27,441 total by yr 30) investedThe money you'd have put into the building while it lost money	$169,275
What you'd walk away with	$1,132,225
Building minus stocks	$569,001

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$538,100 of profit by year 30, before investment growth	$1,090,770
What you'd walk away with	$2,322,849
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$945,442
Building minus stocks	$1,377,407

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$284,120 of profit by year 30, before investment growth	$478,507
What you'd walk away with	$1,710,586
If you put the same money in stocks
Cash to close ($124,200) invested at 7%	$945,442
Monthly shortfalls ($22,529 total by yr 30) investedThe money you'd have put into the building while it lost money	$141,119
What you'd walk away with	$1,086,561
Building minus stocks	$624,025

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 of principal by year 30	$0
Plus rental profits, invested at 7%$584,804 of profit by year 30, before investment growth	$1,237,827
What you'd walk away with	$2,492,722
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,172,287
Building minus stocks	$1,320,435

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,994
Minus 6% selling cost	−$80,100
Minus loan still owedTenants' rent paid down all $412,500 of principal by year 30	$0
Plus rental profits, invested at 7%$320,784 of profit by year 30, before investment growth	$565,760
What you'd walk away with	$1,820,655
If you put the same money in stocks
Cash to close ($154,000) invested at 7%	$1,172,287
Monthly shortfalls ($12,489 total by yr 30) investedThe money you'd have put into the building while it lost money	$81,315
What you'd walk away with	$1,253,602
Building minus stocks	$567,053

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 of principal by year 30	$0
Plus rental profits, invested at 7%$602,767 of profit by year 30, before investment growth	$1,294,388
What you'd walk away with	$2,526,466
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,150,973
Building minus stocks	$1,375,493

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,722
Minus 6% selling cost	−$78,643
Minus loan still owedTenants' rent paid down all $405,000 of principal by year 30	$0
Plus rental profits, invested at 7%$335,735 of profit by year 30, before investment growth	$603,541
What you'd walk away with	$1,835,619
If you put the same money in stocks
Cash to close ($151,200) invested at 7%	$1,150,973
Monthly shortfalls ($9,477 total by yr 30) investedThe money you'd have put into the building while it lost money	$62,535
What you'd walk away with	$1,213,508
Building minus stocks	$622,111

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.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $2.29M, stocks $966K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,500/mo · range $1,325–$1,625 · 14 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2800 Hillsboro Ave N-2800 Hillsboro Ave N Unit …	$1,599	2 / 1	988	0.6 mi	—	Apartment
2911 Hillsboro Ave N, New Hope	$1,295	2 / 1	1,100	0.7 mi	2025-01-08	Apartment
8015 36th Ave N, New Hope	$1,775	2 / 1	976	0.9 mi	2024-04-13	Apartment
2500 Nathan Ln N, Plymouth	$1,624	2 / 1.5	1,000	1.0 mi	2024-04-26	Apartment
7611 36th Ave N, New Hope	$1,649	2 / 2	1,070	1.0 mi	2025-05-15	Apartment
7710 36th Ave N, Crystal	$1,500	2 / 2	1,050	1.0 mi	2024-04-12	Apartment
3501 Louisiana Ave N, Crystal	$1,589	2 / 1	1,000	1.1 mi	2026-01-14	Apartment
3501 Hillsboro Ave N, New Hope	$1,490	2 / 1	1,020	1.1 mi	2026-07-30	Apartment
7104 36th Ave N, New Hope	$1,249	2 / 1	800	1.2 mi	2026-01-21	Apartment
3300 Douglas Dr N, Crystal	$1,269	2 / 1	870	1.4 mi	2026-09-29	Apartment

1 bed estimate $1,225/mo · range $1,150–$1,275 · 8 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2740 Xylon Ave N Apt 1, New Hope	$1,150	1 / 1	450	0.1 mi	2026-08-01	Apartment
2911 Hillsboro Ave N, New Hope	$1,075	1 / 1	790	0.7 mi	2025-01-08	Apartment
7611 36th Ave N, New Hope	$1,381	1 / 1	775	1.0 mi	2025-05-15	Apartment
8100 36th Ave N, New Hope	$1,250	1 / 1	750	1.0 mi	2026-07-29	Apartment
7710 36th Ave N, Crystal	$1,200	1 / 1	750	1.0 mi	2024-04-12	Apartment
7201 36th Ave N, Crystal	$1,185	1 / 1	710	1.1 mi	2026-02-20	Apartment
3610 Lancaster Ln N, Plymouth	$1,289	1 / 1	743	1.4 mi	2024-04-12	Apartment
9630 37th Pl N, Plymouth	$1,275	1 / 1	800	1.5 mi	2024-06-11	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 2709 VIRGINIA AVE N

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 Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$9,718
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,400
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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. base rate	8% / 8%

Status history

2026-09-29New at $550,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$9,718
County	Hennepin
Parcel number	1911821440076

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Hope on rental licensing before you buy.