Minneapolis › Standish

3622 Longfellow Ave

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

Far off

Asking price: $489,900
Monthly cash flow: −$1,398
Estimated rent: $3,000/mo
Break-even price: $227,268

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
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: $489,900
Monthly cash flow: −$1,398
Cash to close: $112,677
Cap rate: 3.0%
Cash-on-cash: −14.9%
DSCR: 0.46×
GRM: 13.6
Price per unit: $244,950
Price that breaks even: $227,268
Rent that breaks even: $4,815/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $1.12M vs $2.03M

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$619
Insurance Estimate	−$251
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,210
Mortgage (principal + interest)	−$2,607
Cash flow	−$1,398
Principal paid down (equity, not cash)	$332

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 $1.12M, stocks $2.03M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 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	$1,117,769
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($432,112 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,630,120
What you'd walk away with	$2,114,922
Building minus stocks	−$997,153

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 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	$1,117,769
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($577,008 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,024,905
What you'd walk away with	$2,509,707
Building minus stocks	−$1,391,938

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $431,910 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	$1,094,953
If you put the same money in stocks
Cash to close ($62,387) invested at 7%	$474,906
Monthly shortfalls ($410,286 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,560,507
What you'd walk away with	$2,035,413
Building minus stocks	−$940,460

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $431,910 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	$1,094,953
If you put the same money in stocks
Cash to close ($62,387) invested at 7%	$474,906
Monthly shortfalls ($555,182 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,955,292
What you'd walk away with	$2,430,198
Building minus stocks	−$1,335,245

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 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	$1,117,769
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($301,550 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,175,402
What you'd walk away with	$2,033,129
Building minus stocks	−$915,360

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 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	$1,117,769
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($446,445 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,570,188
What you'd walk away with	$2,427,914
Building minus stocks	−$1,310,145

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $383,920 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	$1,094,953
If you put the same money in stocks
Cash to close ($110,377) invested at 7%	$840,218
Monthly shortfalls ($282,389 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,115,071
What you'd walk away with	$1,955,289
Building minus stocks	−$860,336

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $383,920 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	$1,094,953
If you put the same money in stocks
Cash to close ($110,377) invested at 7%	$840,218
Monthly shortfalls ($427,285 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,509,857
What you'd walk away with	$2,350,074
Building minus stocks	−$1,255,121

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 of principal by year 30	$0
Plus rental profits, invested at 7%$181 of profit by year 30, before investment growth	$181
What you'd walk away with	$1,117,950
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($243,063 total by yr 30) investedThe money you'd have put into the building while it lost money	$990,857
What you'd walk away with	$2,035,045
Building minus stocks	−$917,095

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 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	$1,117,769
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($387,778 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,385,461
What you'd walk away with	$2,429,649
Building minus stocks	−$1,311,880

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $359,925 of principal by year 30	$0
Plus rental profits, invested at 7%$868 of profit by year 30, before investment growth	$874
What you'd walk away with	$1,095,826
If you put the same money in stocks
Cash to close ($134,372) invested at 7%	$1,022,874
Monthly shortfalls ($225,786 total by yr 30) investedThe money you'd have put into the building while it lost money	$934,989
What you'd walk away with	$1,957,863
Building minus stocks	−$862,037

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,164,843
Minus 6% selling cost	−$69,891
Minus loan still owedTenants' rent paid down all $359,925 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	$1,094,953
If you put the same money in stocks
Cash to close ($134,372) invested at 7%	$1,022,874
Monthly shortfalls ($369,814 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,328,901
What you'd walk away with	$2,351,775
Building minus stocks	−$1,256,822

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

mediumRental license Tier 2: the city has flagged more violations than typical; expect more frequent inspections and repair orders. Public record: Minneapolis Active Rental Licenses: 3622 LONGFELLOW AVE, grade/tier=Tier 2, status=Active
mediumAsking is $262,632 above the price where cash flow breaks even ($227,268) at the default scenario. Based on: Derived: price $489,900 vs. break-even $227,268
low$259 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 0102824330064: special assessments (current) = $259.20

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)	$7,431
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,014
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 1913: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1913
Market value (2026)	$392,800
Property tax	$7,431
Special assessments	$259
Homestead	no
Last sale	2021-08-01 · $430,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 2, status active, renews 2027-03-01.

Nearest highway

MN 55, about 1115 m away.

Crime in Standish

273 incidents in the last 12 months (40 per 1,000 residents), −3% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-19New at $489,900