Minneapolis › Lyndale

3024 Pleasant Ave

Minneapolis, MN · Lyndale · Listing office ↗ · Find the listing ↗

Overpriced

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price: $689,900
Monthly cash flow: −$1,185
Estimated rent: $6,150/mo
Break-even price: $467,208

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
2 bed / 1 bath (est.)$1,350 $1,150–$1,550
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: $689,900
Monthly cash flow: −$1,185
Cash to close: $158,677
Cap rate: 4.3%
Cash-on-cash: −9.0%
DSCR: 0.68×
GRM: 9.3
Price per unit: $137,980
Price that breaks even: $467,208
Rent that breaks even: $7,710/mo
Cash flow turns positive: year 17
Year 30: property vs stocks: $1.73M vs $1.86M

Monthly breakdown

Rent	$6,150
Vacancy (6%)	−$369
Collected	$5,781
Property tax Estimate	−$1,207
Insurance Estimate	−$495
Water, sewer, trash Estimate	−$425
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$554
Capital reserve (9% of rent)	−$554
Net operating income	$2,487
Mortgage (principal + interest)	−$3,672
Cash flow	−$1,185
Principal paid down (equity, not cash)	$467

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 $1.73M, stocks $1.86M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $620,910 of principal by year 30	$0
Plus rental profits, invested at 7%$53,386 of profit by year 30, before investment growth	$63,878
What you'd walk away with	$1,637,973
If you put the same money in stocks
Cash to close ($89,687) invested at 7%	$682,720
Monthly shortfalls ($245,725 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,199,893
What you'd walk away with	$1,882,613
Building minus stocks	−$244,640

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $620,910 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	$1,574,094
If you put the same money in stocks
Cash to close ($89,687) invested at 7%	$682,720
Monthly shortfalls ($489,375 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,945,325
What you'd walk away with	$2,628,045
Building minus stocks	−$1,053,951

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $611,910 of principal by year 30	$0
Plus rental profits, invested at 7%$60,073 of profit by year 30, before investment growth	$72,891
What you'd walk away with	$1,624,169
If you put the same money in stocks
Cash to close ($88,387) invested at 7%	$672,824
Monthly shortfalls ($230,587 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,139,292
What you'd walk away with	$1,812,117
Building minus stocks	−$187,948

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $611,910 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	$1,551,278
If you put the same money in stocks
Cash to close ($88,387) invested at 7%	$672,824
Monthly shortfalls ($467,549 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,875,711
What you'd walk away with	$2,548,536
Building minus stocks	−$997,258

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $551,920 of principal by year 30	$0
Plus rental profits, invested at 7%$116,424 of profit by year 30, before investment growth	$156,693
What you'd walk away with	$1,730,787
If you put the same money in stocks
Cash to close ($158,677) invested at 7%	$1,207,890
Monthly shortfalls ($124,898 total by yr 30) investedThe money you'd have put into the building while it lost money	$652,353
What you'd walk away with	$1,860,243
Building minus stocks	−$129,456

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $551,920 of principal by year 30	$0
Plus rental profits, invested at 7%$3,628 of profit by year 30, before investment growth	$3,743
What you'd walk away with	$1,577,837
If you put the same money in stocks
Cash to close ($158,677) invested at 7%	$1,207,890
Monthly shortfalls ($309,139 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,308,713
What you'd walk away with	$2,516,603
Building minus stocks	−$938,766

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $543,920 of principal by year 30	$0
Plus rental profits, invested at 7%$125,366 of profit by year 30, before investment growth	$171,096
What you'd walk away with	$1,722,374
If you put the same money in stocks
Cash to close ($156,377) invested at 7%	$1,190,382
Monthly shortfalls ($114,679 total by yr 30) investedThe money you'd have put into the building while it lost money	$606,425
What you'd walk away with	$1,796,806
Building minus stocks	−$74,432

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $543,920 of principal by year 30	$0
Plus rental profits, invested at 7%$5,545 of profit by year 30, before investment growth	$5,796
What you'd walk away with	$1,557,074
If you put the same money in stocks
Cash to close ($156,377) invested at 7%	$1,190,382
Monthly shortfalls ($291,894 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,250,435
What you'd walk away with	$2,440,817
Building minus stocks	−$883,743

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $517,425 of principal by year 30	$0
Plus rental profits, invested at 7%$158,128 of profit by year 30, before investment growth	$227,105
What you'd walk away with	$1,801,199
If you put the same money in stocks
Cash to close ($193,172) invested at 7%	$1,470,475
Monthly shortfalls ($83,983 total by yr 30) investedThe money you'd have put into the building while it lost money	$462,624
What you'd walk away with	$1,933,099
Building minus stocks	−$131,900

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,674,568
Minus 6% selling cost	−$100,474
Minus loan still owedTenants' rent paid down all $517,425 of principal by year 30	$0
Plus rental profits, invested at 7%$14,980 of profit by year 30, before investment growth	$16,483
What you'd walk away with	$1,590,578
If you put the same money in stocks
Cash to close ($193,172) invested at 7%	$1,470,475
Monthly shortfalls ($237,872 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,061,313
What you'd walk away with	$2,531,788
Building minus stocks	−$941,210

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $509,925 of principal by year 30	$0
Plus rental profits, invested at 7%$168,307 of profit by year 30, before investment growth	$245,571
What you'd walk away with	$1,796,849
If you put the same money in stocks
Cash to close ($190,372) invested at 7%	$1,449,160
Monthly shortfalls ($76,199 total by yr 30) investedThe money you'd have put into the building while it lost money	$424,530
What you'd walk away with	$1,873,690
Building minus stocks	−$76,841

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,650,296
Minus 6% selling cost	−$99,018
Minus loan still owedTenants' rent paid down all $509,925 of principal by year 30	$0
Plus rental profits, invested at 7%$18,572 of profit by year 30, before investment growth	$20,766
What you'd walk away with	$1,572,044
If you put the same money in stocks
Cash to close ($190,372) invested at 7%	$1,449,160
Monthly shortfalls ($223,501 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,009,036
What you'd walk away with	$2,458,196
Building minus stocks	−$886,152

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

highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 3024 PLEASANT AVE, units=4
mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 0302824220007: roof=Flat, exterior=WOOD
mediumAsking is $222,692 above the price where cash flow breaks even ($467,208) at the default scenario. Based on: Derived: price $689,900 vs. break-even $467,208

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.	$14,488
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$5,940
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$425
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 1910: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	apartment 4 or 5 unit
Living units	5
Year built	1910
Market value (2026)	$570,000
Property tax	$9,814
Special assessments	none
Homestead	no
Last sale	2022-05-01 · $582,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 35W, about 651 m away.

Crime in Lyndale

475 incidents in the last 12 months (66 per 1,000 residents), −2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-29New at $689,900