Minneapolis › Seward

3101 E 24th St

Minneapolis, MN · Seward · 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: $875,000
Monthly cash flow: −$1,076
Estimated rent: $7,350/mo
Break-even price: $672,855

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
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

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: $875,000
Monthly cash flow: −$1,076
Cash to close: $201,250
Cap rate: 4.9%
Cash-on-cash: −6.4%
DSCR: 0.77×
GRM: 9.9
Price per unit: $175,000
Price that breaks even: $672,855
Rent that breaks even: $8,766/mo
Cash flow turns positive: year 11
Year 30: property vs stocks: $2.53M vs $1.96M

Monthly breakdown

Rent	$7,350
Vacancy (6%)	−$441
Collected	$6,909
Property tax Public record	−$1,005
Insurance Estimate	−$515
Water, sewer, trash Estimate	−$425
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$662
Capital reserve (9% of rent)	−$662
Net operating income	$3,581
Mortgage (principal + interest)	−$4,657
Cash flow	−$1,076
Principal paid down (equity, not cash)	$593

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 $2.53M, stocks $1.96M. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $787,500 of principal by year 30	$0
Plus rental profits, invested at 7%$221,582 of profit by year 30, before investment growth	$307,975
What you'd walk away with	$2,304,398
If you put the same money in stocks
Cash to close ($113,750) invested at 7%	$865,894
Monthly shortfalls ($184,173 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,013,162
What you'd walk away with	$1,879,056
Building minus stocks	$425,342

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $787,500 of principal by year 30	$0
Plus rental profits, invested at 7%$47,876 of profit by year 30, before investment growth	$55,054
What you'd walk away with	$2,051,478
If you put the same money in stocks
Cash to close ($113,750) invested at 7%	$865,894
Monthly shortfalls ($365,461 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,727,466
What you'd walk away with	$2,593,360
Building minus stocks	−$541,882

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $778,500 of principal by year 30	$0
Plus rental profits, invested at 7%$232,658 of profit by year 30, before investment growth	$326,852
What you'd walk away with	$2,300,459
If you put the same money in stocks
Cash to close ($112,450) invested at 7%	$855,998
Monthly shortfalls ($173,423 total by yr 30) investedThe money you'd have put into the building while it lost money	$962,427
What you'd walk away with	$1,818,425
Building minus stocks	$482,034

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $778,500 of principal by year 30	$0
Plus rental profits, invested at 7%$53,617 of profit by year 30, before investment growth	$62,415
What you'd walk away with	$2,036,022
If you put the same money in stocks
Cash to close ($112,450) invested at 7%	$855,998
Monthly shortfalls ($349,377 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,665,214
What you'd walk away with	$2,521,212
Building minus stocks	−$485,190

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $700,000 of principal by year 30	$0
Plus rental profits, invested at 7%$343,239 of profit by year 30, before investment growth	$533,683
What you'd walk away with	$2,530,106
If you put the same money in stocks
Cash to close ($201,250) invested at 7%	$1,531,966
Monthly shortfalls ($72,634 total by yr 30) investedThe money you'd have put into the building while it lost money	$426,709
What you'd walk away with	$1,958,676
Building minus stocks	$571,430

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $700,000 of principal by year 30	$0
Plus rental profits, invested at 7%$116,142 of profit by year 30, before investment growth	$149,364
What you'd walk away with	$2,145,788
If you put the same money in stocks
Cash to close ($201,250) invested at 7%	$1,531,966
Monthly shortfalls ($200,532 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,009,615
What you'd walk away with	$2,541,581
Building minus stocks	−$395,793

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $692,000 of principal by year 30	$0
Plus rental profits, invested at 7%$356,013 of profit by year 30, before investment growth	$559,866
What you'd walk away with	$2,533,474
If you put the same money in stocks
Cash to close ($198,950) invested at 7%	$1,514,458
Monthly shortfalls ($66,247 total by yr 30) investedThe money you'd have put into the building while it lost money	$392,562
What you'd walk away with	$1,907,020
Building minus stocks	$626,454

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $692,000 of principal by year 30	$0
Plus rental profits, invested at 7%$123,845 of profit by year 30, before investment growth	$160,877
What you'd walk away with	$2,134,484
If you put the same money in stocks
Cash to close ($198,950) invested at 7%	$1,514,458
Monthly shortfalls ($189,074 total by yr 30) investedThe money you'd have put into the building while it lost money	$960,796
What you'd walk away with	$2,475,254
Building minus stocks	−$340,770

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $656,250 of principal by year 30	$0
Plus rental profits, invested at 7%$416,219 of profit by year 30, before investment growth	$689,190
What you'd walk away with	$2,685,613
If you put the same money in stocks
Cash to close ($245,000) invested at 7%	$1,865,002
Monthly shortfalls ($40,830 total by yr 30) investedThe money you'd have put into the building while it lost money	$252,280
What you'd walk away with	$2,117,282
Building minus stocks	$568,331

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,123,855
Minus 6% selling cost	−$127,431
Minus loan still owedTenants' rent paid down all $656,250 of principal by year 30	$0
Plus rental profits, invested at 7%$162,546 of profit by year 30, before investment growth	$222,227
What you'd walk away with	$2,218,650
If you put the same money in stocks
Cash to close ($245,000) invested at 7%	$1,865,002
Monthly shortfalls ($142,150 total by yr 30) investedThe money you'd have put into the building while it lost money	$752,541
What you'd walk away with	$2,617,544
Building minus stocks	−$398,894

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $648,750 of principal by year 30	$0
Plus rental profits, invested at 7%$429,432 of profit by year 30, before investment growth	$718,707
What you'd walk away with	$2,692,314
If you put the same money in stocks
Cash to close ($242,200) invested at 7%	$1,843,688
Monthly shortfalls ($36,079 total by yr 30) investedThe money you'd have put into the building while it lost money	$225,237
What you'd walk away with	$2,068,925
Building minus stocks	$623,389

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,099,582
Minus 6% selling cost	−$125,975
Minus loan still owedTenants' rent paid down all $648,750 of principal by year 30	$0
Plus rental profits, invested at 7%$171,527 of profit by year 30, before investment growth	$237,273
What you'd walk away with	$2,210,880
If you put the same money in stocks
Cash to close ($242,200) invested at 7%	$1,843,688
Monthly shortfalls ($133,169 total by yr 30) investedThe money you'd have put into the building while it lost money	$711,027
What you'd walk away with	$2,554,715
Building minus stocks	−$343,835

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: 3101 24TH ST E, units=4

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 98 days on market, 1 price cuts

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)	$12,060
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$6,178
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 1905: +1 pt capital reserve; 12 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	apartment 4 or 5 unit
Living units	5
Year built	1905
Market value (2026)	$635,000
Property tax	$12,060
Special assessments	none
Homestead	no
Last sale	2021-09-01 · $700,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 664 m away.

Crime in Seward

516 incidents in the last 12 months (69 per 1,000 residents), +0% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-06-26Price cut at $875,000 (was $940,000) · from listing history
2026-06-26New at $875,000