3724 Joppa Ave S

Saint Louis Park, MN · View the listing ↗

Overpriced

79 photos

Photos, via Realtor.com.

Asking price: $849,900
Monthly cash flow: −$1,580
Estimated rent: $5,100/mo
Break-even price: $553,132

Adjust the numbers See the full breakdown

From the listing

One of only 28 duplexes in all of Minikahda Vista - and the only one that's been completely renovated with an attached 2-car garage per unit. Walk to Trader Joe's, Hazelwood, Honey & Rye, and Excelsior & Grand. One mile from Bde Maka Ska and the Chain of Lakes. Each side features 4 bedrooms, 2 full bathrooms, and an open-concept living area with its own attached 2-car garage, private deck, separate basement, and separately metered utilities. Smart home features include Ecobee thermostats, electric shades, and dimmable smart switches. The garage electrical has been upgraded to support an EV charger or sauna. Each side functions like its own single-family home. Over $200K invested in a comprehensive renovation with nothing left to touch. Premium Edco Arrowline metal roof, Carrier high-efficiency HVAC with Ecobee smart thermostats, new electrical panels, new hot water tanks, white quartz countertops, textured subway tile backsplash, all new stainless steel appliances, completely remodeled bathrooms, dimmable recessed LED lighting, under-cabinet kitchen lighting, waterproof LVP flooring, in-unit washer/dryer, water softeners, full staircase replacements, new gutters with Gutter Helmet, and professional landscaping. A 4th bedroom was added to each side - ideal as a bedroom or home office. Fenced yard for pets. Private deck each side. Location is amazing: walking distance to a variety of restaurants, shopping, groceries, parks, and just minutes to 50th & France, Highway 100, and downtown. On the bus line. This type of property doesn't come along often.

Description from Realtor.com, MLS #7089360. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

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: $849,900
Cash to close: $195,477
Price per unit: $424,950
GRM: 13.9

Each month

Cash flow: −$1,580/mo
Cash-on-cash: −9.7%
Cap rate: 4.2%
DSCR: 0.65×

Break-even

Price that breaks even: $553,132
Rent that breaks even: $7,099/mo

Long run

Year 30: property vs stocks: $2.16M vs $2.36M
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$5,100
Vacancy (6%)	−$306
Collected	$4,794
Property tax Listing	−$653
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$408
Capital reserve (7% of rent)	−$357
Net operating income	$2,944
Mortgage (principal + interest)	−$4,524
Cash flow	−$1,580
Principal paid down (equity, not cash)	$576

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	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $764,910 of principal by year 30	$0
Plus rental profits, invested at 7%$86,446 of profit by year 30, before investment growth	$104,853
What you'd walk away with	$2,044,007
If you put the same money in stocks
Cash to close ($110,487) invested at 7%	$841,055
Monthly shortfalls ($313,372 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,541,796
What you'd walk away with	$2,382,851
Building minus stocks	−$338,844

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $764,910 of principal by year 30	$0
Plus rental profits, invested at 7%$10,999 of profit by year 30, before investment growth	$11,563
What you'd walk away with	$1,950,717
If you put the same money in stocks
Cash to close ($110,487) invested at 7%	$841,055
Monthly shortfalls ($484,248 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,119,641
What you'd walk away with	$2,960,696
Building minus stocks	−$1,009,979

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $755,910 of principal by year 30	$0
Plus rental profits, invested at 7%$93,631 of profit by year 30, before investment growth	$114,780
What you'd walk away with	$2,031,119
If you put the same money in stocks
Cash to close ($109,187) invested at 7%	$831,159
Monthly shortfalls ($298,731 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,482,111
What you'd walk away with	$2,313,270
Building minus stocks	−$282,151

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $755,910 of principal by year 30	$0
Plus rental profits, invested at 7%$13,873 of profit by year 30, before investment growth	$14,753
What you'd walk away with	$1,931,091
If you put the same money in stocks
Cash to close ($109,187) invested at 7%	$831,159
Monthly shortfalls ($465,296 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,053,218
What you'd walk away with	$2,884,378
Building minus stocks	−$953,287

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $679,920 of principal by year 30	$0
Plus rental profits, invested at 7%$166,595 of profit by year 30, before investment growth	$224,285
What you'd walk away with	$2,163,440
If you put the same money in stocks
Cash to close ($195,477) invested at 7%	$1,488,021
Monthly shortfalls ($167,015 total by yr 30) investedThe money you'd have put into the building while it lost money	$872,365
What you'd walk away with	$2,360,385
Building minus stocks	−$196,945

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $679,920 of principal by year 30	$0
Plus rental profits, invested at 7%$50,103 of profit by year 30, before investment growth	$58,332
What you'd walk away with	$1,997,486
If you put the same money in stocks
Cash to close ($195,477) invested at 7%	$1,488,021
Monthly shortfalls ($296,845 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,377,546
What you'd walk away with	$2,865,567
Building minus stocks	−$868,081

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $671,920 of principal by year 30	$0
Plus rental profits, invested at 7%$175,536 of profit by year 30, before investment growth	$238,688
What you'd walk away with	$2,155,026
If you put the same money in stocks
Cash to close ($193,177) invested at 7%	$1,470,513
Monthly shortfalls ($156,796 total by yr 30) investedThe money you'd have put into the building while it lost money	$826,436
What you'd walk away with	$2,296,949
Building minus stocks	−$141,923

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $671,920 of principal by year 30	$0
Plus rental profits, invested at 7%$55,212 of profit by year 30, before investment growth	$64,885
What you'd walk away with	$1,981,223
If you put the same money in stocks
Cash to close ($193,177) invested at 7%	$1,470,513
Monthly shortfalls ($282,794 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,323,768
What you'd walk away with	$2,794,281
Building minus stocks	−$813,058

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $637,425 of principal by year 30	$0
Plus rental profits, invested at 7%$217,879 of profit by year 30, before investment growth	$310,768
What you'd walk away with	$2,249,922
If you put the same money in stocks
Cash to close ($237,972) invested at 7%	$1,811,504
Monthly shortfalls ($116,520 total by yr 30) investedThe money you'd have put into the building while it lost money	$638,375
What you'd walk away with	$2,449,879
Building minus stocks	−$199,957

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,062,930
Minus 6% selling cost	−$123,776
Minus loan still owedTenants' rent paid down all $637,425 of principal by year 30	$0
Plus rental profits, invested at 7%$81,024 of profit by year 30, before investment growth	$99,776
What you'd walk away with	$2,038,931
If you put the same money in stocks
Cash to close ($237,972) invested at 7%	$1,811,504
Monthly shortfalls ($225,988 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,098,519
What you'd walk away with	$2,910,023
Building minus stocks	−$871,092

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $629,925 of principal by year 30	$0
Plus rental profits, invested at 7%$227,807 of profit by year 30, before investment growth	$328,491
What you'd walk away with	$2,244,829
If you put the same money in stocks
Cash to close ($235,172) invested at 7%	$1,790,189
Monthly shortfalls ($108,484 total by yr 30) investedThe money you'd have put into the building while it lost money	$599,538
What you'd walk away with	$2,389,727
Building minus stocks	−$144,898

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,038,658
Minus 6% selling cost	−$122,319
Minus loan still owedTenants' rent paid down all $629,925 of principal by year 30	$0
Plus rental profits, invested at 7%$87,390 of profit by year 30, before investment growth	$108,792
What you'd walk away with	$2,025,131
If you put the same money in stocks
Cash to close ($235,172) invested at 7%	$1,790,189
Monthly shortfalls ($214,390 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,050,975
What you'd walk away with	$2,841,164
Building minus stocks	−$816,033

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 $2.16M, stocks $2.36M. Stocks win.

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.

4 bed estimate $2,550/mo · range $2,375–$2,600 · 12 rentals within 4.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3714 Kipling Ave S, Saint Louis Park	$2,300	4 / 2	1,642	0.1 mi	2025-10-15	Multi family
3448 Girard Ave S, Minneapolis	$2,595	4 / 2	2,200	1.8 mi	2026-08-28	Apartment
2449 Lyndale Ave S, Minneapolis	$2,395	4 / 3	1,804	2.8 mi	2026-06-02	Apartment
1924 Colfax Ave S, Minneapolis	$2,550	4 / 2	1,574	2.8 mi	2026-07-08	Apartment
2529 Pleasant Ave Unit 2, Minneapolis	$2,500	4 / 2	2,000	2.9 mi	2026-08-25	Apartment
220 E 27th St, Minneapolis	$2,600	4 / 1	2,516	3.3 mi	2026-04-04	Apartment
2820 12th Ave S, Minneapolis	$2,500	11 / 5	2,880	3.9 mi	2026-08-06	Duplex triplex
2820 12th Ave S Apt 1, Minneapolis	$2,500	4 / 2	1,440	3.9 mi	2026-08-13	Duplex triplex
2540 12th Ave S Apt 2, Minneapolis	$2,325	5 / 2	1,700	4.0 mi	—	Apartment
1030 Knox Ave N, Minneapolis	$2,450	5 / 1.5	1,500	4.0 mi	2026-01-31	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

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 3724 JOPPA AVE S
mediumAsking is $296,768 above the price where cash flow breaks even ($553,132) at the default scenario. Based on: Derived: price $849,900 vs. break-even $553,132

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 117 days on market

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.	$7,835
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,425
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. 8 bedrooms: +1 pt repairs for wear; "completely renovated" in the description: -1 pts each	8% / 7%

Status history

2026-06-10New at $849,900

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$7,835
County	Hennepin
Parcel number	0602824430092

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Saint Louis Park on rental licensing before you buy.

Nearest highway

I 394, about 3885 m away.