3213 Minnehaha Ave

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

Overpriced

Asking price: $459,900
Monthly cash flow: −$757
Estimated rent: $3,600/mo
Break-even price: $317,651

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

4 bed / 1.5 bath (est.)$1,950 $1,650–$2,250
3 bed / 1.5 bath (est.)$1,650 $1,400–$1,900

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: $459,900
Monthly cash flow: −$757
Cash to close: $105,777
Cap rate: 4.4%
Cash-on-cash: −8.6%
DSCR: 0.69×
GRM: 10.6
Price per unit: $229,950
Price that breaks even: $317,651
Rent that breaks even: $4,583/mo
Cash flow turns positive: year 16
Year 30: property vs stocks: $1.19M vs $1.19M

Monthly breakdown

Rent	$3,600
Vacancy (6%)	−$216
Collected	$3,384
Property tax Public record	−$609
Insurance Estimate	−$242
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$288
Capital reserve (9% of rent)	−$324
Net operating income	$1,691
Mortgage (principal + interest)	−$2,448
Cash flow	−$757
Principal paid down (equity, not cash)	$311

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 $1.19M, stocks $1.19M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $413,910 of principal by year 30	$0
Plus rental profits, invested at 7%$55,722 of profit by year 30, before investment growth	$69,607
What you'd walk away with	$1,118,927
If you put the same money in stocks
Cash to close ($59,787) invested at 7%	$455,114
Monthly shortfalls ($146,795 total by yr 30) investedThe money you'd have put into the building while it lost money	$740,852
What you'd walk away with	$1,195,966
Building minus stocks	−$77,039

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $413,910 of principal by year 30	$0
Plus rental profits, invested at 7%$2,242 of profit by year 30, before investment growth	$2,291
What you'd walk away with	$1,051,611
If you put the same money in stocks
Cash to close ($59,787) invested at 7%	$455,114
Monthly shortfalls ($267,189 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,147,278
What you'd walk away with	$1,602,392
Building minus stocks	−$550,781

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $404,910 of principal by year 30	$0
Plus rental profits, invested at 7%$63,827 of profit by year 30, before investment growth	$81,370
What you'd walk away with	$1,107,874
If you put the same money in stocks
Cash to close ($58,487) invested at 7%	$445,218
Monthly shortfalls ($133,073 total by yr 30) investedThe money you'd have put into the building while it lost money	$683,002
What you'd walk away with	$1,128,220
Building minus stocks	−$20,346

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $404,910 of principal by year 30	$0
Plus rental profits, invested at 7%$4,274 of profit by year 30, before investment growth	$4,459
What you'd walk away with	$1,030,963
If you put the same money in stocks
Cash to close ($58,487) invested at 7%	$445,218
Monthly shortfalls ($247,395 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,079,833
What you'd walk away with	$1,525,051
Building minus stocks	−$494,088

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $367,920 of principal by year 30	$0
Plus rental profits, invested at 7%$103,801 of profit by year 30, before investment growth	$144,884
What you'd walk away with	$1,194,204
If you put the same money in stocks
Cash to close ($105,777) invested at 7%	$805,202
Monthly shortfalls ($72,306 total by yr 30) investedThe money you'd have put into the building while it lost money	$389,257
What you'd walk away with	$1,194,458
Building minus stocks	−$254

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $367,920 of principal by year 30	$0
Plus rental profits, invested at 7%$19,457 of profit by year 30, before investment growth	$22,200
What you'd walk away with	$1,071,520
If you put the same money in stocks
Cash to close ($105,777) invested at 7%	$805,202
Monthly shortfalls ($161,837 total by yr 30) investedThe money you'd have put into the building while it lost money	$740,315
What you'd walk away with	$1,545,516
Building minus stocks	−$473,996

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $359,920 of principal by year 30	$0
Plus rental profits, invested at 7%$113,957 of profit by year 30, before investment growth	$162,523
What you'd walk away with	$1,189,027
If you put the same money in stocks
Cash to close ($103,477) invested at 7%	$787,693
Monthly shortfalls ($63,301 total by yr 30) investedThe money you'd have put into the building while it lost money	$346,565
What you'd walk away with	$1,134,258
Building minus stocks	$54,769

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $359,920 of principal by year 30	$0
Plus rental profits, invested at 7%$24,270 of profit by year 30, before investment growth	$28,275
What you'd walk away with	$1,054,779
If you put the same money in stocks
Cash to close ($103,477) invested at 7%	$787,693
Monthly shortfalls ($147,488 total by yr 30) investedThe money you'd have put into the building while it lost money	$686,059
What you'd walk away with	$1,473,753
Building minus stocks	−$418,974

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $344,925 of principal by year 30	$0
Plus rental profits, invested at 7%$134,411 of profit by year 30, before investment growth	$199,803
What you'd walk away with	$1,249,124
If you put the same money in stocks
Cash to close ($128,772) invested at 7%	$980,245
Monthly shortfalls ($47,841 total by yr 30) investedThe money you'd have put into the building while it lost money	$270,762
What you'd walk away with	$1,251,007
Building minus stocks	−$1,883

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,116,298
Minus 6% selling cost	−$66,978
Minus loan still owedTenants' rent paid down all $344,925 of principal by year 30	$0
Plus rental profits, invested at 7%$34,789 of profit by year 30, before investment growth	$42,191
What you'd walk away with	$1,091,511
If you put the same money in stocks
Cash to close ($128,772) invested at 7%	$980,245
Monthly shortfalls ($122,093 total by yr 30) investedThe money you'd have put into the building while it lost money	$586,892
What you'd walk away with	$1,567,137
Building minus stocks	−$475,626

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $337,425 of principal by year 30	$0
Plus rental profits, invested at 7%$145,351 of profit by year 30, before investment growth	$220,708
What you'd walk away with	$1,247,212
If you put the same money in stocks
Cash to close ($125,972) invested at 7%	$958,931
Monthly shortfalls ($40,817 total by yr 30) investedThe money you'd have put into the building while it lost money	$235,106
What you'd walk away with	$1,194,037
Building minus stocks	$53,175

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,025
Minus 6% selling cost	−$65,522
Minus loan still owedTenants' rent paid down all $337,425 of principal by year 30	$0
Plus rental profits, invested at 7%$40,812 of profit by year 30, before investment growth	$50,533
What you'd walk away with	$1,077,037
If you put the same money in stocks
Cash to close ($125,972) invested at 7%	$958,931
Monthly shortfalls ($110,153 total by yr 30) investedThe money you'd have put into the building while it lost money	$538,673
What you'd walk away with	$1,497,604
Building minus stocks	−$420,567

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 3213 MINNEHAHA AVE
mediumAsking is $142,249 above the price where cash flow breaks even ($317,651) at the default scenario. Based on: Derived: price $459,900 vs. break-even $317,651

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 Public recordHennepin County record, current payable year (non-homestead)	$7,309
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,907
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 1905: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1905
Market value (2026)	$384,900
Property tax	$7,309
Special assessments	none
Homestead	no
Last sale	2021-10-01 · $450,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

MN 55, about 333 m away.

Crime in Longfellow

690 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).

Status history

2026-07-17Price cut at $459,900 (was $475,000) · from listing history
2025-12-18Price increase at $475,000 (was $469,900) · from listing history
2026-07-17New at $459,900