2745 29th Ave S

Minneapolis, MN · Longfellow · View the listing ↗

Overpriced

22 photos

Photos, via Realtor.com.

Asking price: $384,900
Monthly cash flow: −$548
Estimated rent: $3,200/mo
Break-even price: $281,854

Adjust the numbers See the full breakdown

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: $384,900
Cash to close: $88,527
Price per unit: $192,450
GRM: 10.0

Each month

Cash flow: −$548/mo
Cash-on-cash: −7.4%
Cap rate: 4.7%
DSCR: 0.73×

Break-even

Price that breaks even: $281,854
Rent that breaks even: $3,912/mo

Long run

Year 30: property vs stocks: $1.05M vs $923K
Cash flow turns positive: year 13

Monthly

Monthly breakdown

Rent	$3,200
Vacancy (6%)	−$192
Collected	$3,008
Property tax Listing	−$521
Insurance Estimate	−$212
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$256
Capital reserve (9% of rent)	−$288
Net operating income	$1,500
Mortgage (principal + interest)	−$2,049
Cash flow	−$548
Principal paid down (equity, not cash)	$261

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	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $346,410 of principal by year 30	$0
Plus rental profits, invested at 7%$69,265 of profit by year 30, before investment growth	$91,392
What you'd walk away with	$969,590
If you put the same money in stocks
Cash to close ($50,037) invested at 7%	$380,894
Monthly shortfalls ($99,711 total by yr 30) investedThe money you'd have put into the building while it lost money	$526,085
What you'd walk away with	$906,979
Building minus stocks	$62,611

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $346,410 of principal by year 30	$0
Plus rental profits, invested at 7%$7,713 of profit by year 30, before investment growth	$8,311
What you'd walk away with	$886,509
If you put the same money in stocks
Cash to close ($50,037) invested at 7%	$380,894
Monthly shortfalls ($192,714 total by yr 30) investedThe money you'd have put into the building while it lost money	$864,108
What you'd walk away with	$1,245,002
Building minus stocks	−$358,493

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 of principal by year 30	$0
Plus rental profits, invested at 7%$79,061 of profit by year 30, before investment growth	$106,959
What you'd walk away with	$962,341
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($87,681 total by yr 30) investedThe money you'd have put into the building while it lost money	$472,039
What you'd walk away with	$843,037
Building minus stocks	$119,304

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 of principal by year 30	$0
Plus rental profits, invested at 7%$11,460 of profit by year 30, before investment growth	$12,660
What you'd walk away with	$868,042
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($174,635 total by yr 30) investedThe money you'd have put into the building while it lost money	$798,844
What you'd walk away with	$1,169,842
Building minus stocks	−$301,800

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $307,920 of principal by year 30	$0
Plus rental profits, invested at 7%$116,392 of profit by year 30, before investment growth	$171,911
What you'd walk away with	$1,050,109
If you put the same money in stocks
Cash to close ($88,527) invested at 7%	$673,890
Monthly shortfalls ($44,258 total by yr 30) investedThe money you'd have put into the building while it lost money	$249,346
What you'd walk away with	$923,236
Building minus stocks	$126,873

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $307,920 of principal by year 30	$0
Plus rental profits, invested at 7%$29,182 of profit by year 30, before investment growth	$35,146
What you'd walk away with	$913,344
If you put the same money in stocks
Cash to close ($88,527) invested at 7%	$673,890
Monthly shortfalls ($111,605 total by yr 30) investedThe money you'd have put into the building while it lost money	$533,685
What you'd walk away with	$1,207,575
Building minus stocks	−$294,231

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 of principal by year 30	$0
Plus rental profits, invested at 7%$127,986 of profit by year 30, before investment growth	$193,957
What you'd walk away with	$1,049,339
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($36,692 total by yr 30) investedThe money you'd have put into the building while it lost money	$211,061
What you'd walk away with	$867,443
Building minus stocks	$181,896

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 of principal by year 30	$0
Plus rental profits, invested at 7%$35,507 of profit by year 30, before investment growth	$43,856
What you'd walk away with	$899,238
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($98,769 total by yr 30) investedThe money you'd have put into the building while it lost money	$482,064
What you'd walk away with	$1,138,446
Building minus stocks	−$239,208

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $288,675 of principal by year 30	$0
Plus rental profits, invested at 7%$145,418 of profit by year 30, before investment growth	$228,870
What you'd walk away with	$1,107,069
If you put the same money in stocks
Cash to close ($107,772) invested at 7%	$820,388
Monthly shortfalls ($27,192 total by yr 30) investedThe money you'd have put into the building while it lost money	$161,171
What you'd walk away with	$981,559
Building minus stocks	$125,510

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $288,675 of principal by year 30	$0
Plus rental profits, invested at 7%$45,629 of profit by year 30, before investment growth	$58,549
What you'd walk away with	$936,747
If you put the same money in stocks
Cash to close ($107,772) invested at 7%	$820,388
Monthly shortfalls ($81,958 total by yr 30) investedThe money you'd have put into the building while it lost money	$411,954
What you'd walk away with	$1,232,342
Building minus stocks	−$295,595

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 of principal by year 30	$0
Plus rental profits, invested at 7%$157,762 of profit by year 30, before investment growth	$254,841
What you'd walk away with	$1,110,223
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($21,572 total by yr 30) investedThe money you'd have put into the building while it lost money	$130,581
What you'd walk away with	$929,655
Building minus stocks	$180,568

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 of principal by year 30	$0
Plus rental profits, invested at 7%$53,111 of profit by year 30, before investment growth	$69,927
What you'd walk away with	$925,309
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($71,476 total by yr 30) investedThe money you'd have put into the building while it lost money	$366,772
What you'd walk away with	$1,165,845
Building minus stocks	−$240,536

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 $1.05M, stocks $923K. 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 $1,600/mo · range $1,425–$1,800 · 24 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2833 31st Ave S, Minneapolis	$1,695	2 / 1	950	0.2 mi	2026-03-25	Apartment
2821 S 32nd Ave Unit Upper, Minneapolis	$1,549	2 / 1	1,000	0.2 mi	2024-11-07	Duplex triplex
2329 27th Ave S Apt 4, Minneapolis	$1,800	2 / 1	1,020	0.5 mi	2026-09-22	Apartment
2220 E Lake St, Minneapolis	$1,425	2 / 1	835	0.5 mi	—	Apartment
940 Franklin Ter, Minneapolis	$1,450	2 / 1	755	0.8 mi	2024-06-11	Apartment
811 28th Ave S, Minneapolis	$1,400	2 / 1	—	0.9 mi	2026-05-20	Apartment
2220 E Franklin Ave, Minneapolis	$1,783	2 / 1.5	900	0.9 mi	2024-04-12	Apartment
2220 Snelling Ave, Minneapolis	$1,904	2 / 2	911	1.0 mi	2026-05-26	Apartment
2520 S 8th St, Minneapolis	$1,737	2 / 1	692	1.0 mi	2026-05-21	Apartment
2944 17th Ave S, Minneapolis	$1,649	2 / 2	843	1.0 mi	2026-03-26	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

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 2745 29TH AVE S
medium$2,256 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 3602924410072: special assessments (current) = $2,256.35
mediumBought for $300,000 in Jul 2024; asking is 28% more 27 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 3602924410072: last sale 2024-07-01, $300,000

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.	$6,257
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,549
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%

Status history

2026-10-02New at $384,900

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$277,900
Property tax	$4,000
Special assessments	$2,256
Homestead	no
Last sale	2024-07-01 · $300,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

MN 55, about 794 m away.

Crime in Longfellow

692 incidents in the last 12 months (136 per 1,000 residents), −5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).