3822 3rd St NE

Columbia Heights, MN · View the listing ↗

Cash flows

32 photos

Photos, via Realtor.com.

Asking price: $499,990
Monthly cash flow: $617
Estimated rent: $5,600/mo
Break-even price: $615,823

Adjust the numbers See the full breakdown

From the listing

2 UNITS-GREAT INVESTMENT OR OWNER-OCCUPANT OPPORTUNITY! City rental inspection completed. Wonderful side-by-side duplex conveniently located near Northeast Minneapolis and minutes from Downtown. Both units offer the same spacious floor plan, with 4 bedrooms and full baths. Each unit has its own basement laundry, plus a fully fenced yard, detached garage and two parking spaces. Updated and well maintained! 3822 features a new basement 3/4 bath, 2024 furnace, 2023 water heater, new sump pump, stainless steel refrigerator, updated kitchen and bathroom plumbing, tile flooring, and numerous exterior improvements. 3824 features a new basement full bath, December 2025 furnace, January 2026 water heater, new washer/dryer. Close to shops, restaurants, public transportation and all that NE and Downtown has to offer.

Description from Realtor.com, MLS #7131061. 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: $499,990
Cash to close: $114,998
Price per unit: $249,995
GRM: 7.4

Each month

Cash flow: $617/mo
Cash-on-cash: 6.4%
Cap rate: 7.9%
DSCR: 1.23×

Break-even

Price that breaks even: $615,823
Rent that breaks even: $4,799/mo

Long run

Year 30: property vs stocks: $3.13M vs $875K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,600
Vacancy (6%)	−$336
Collected	$5,264
Property tax Listing	−$591
Insurance Estimate	−$214
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$504
Capital reserve (8% of rent)	−$448
Net operating income	$3,278
Mortgage (principal + interest)	−$2,661
Cash flow	$617
Principal paid down (equity, not cash)	$339

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	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $449,991 of principal by year 30	$0
Plus rental profits, invested at 7%$729,733 of profit by year 30, before investment growth	$1,522,570
What you'd walk away with	$2,663,361
If you put the same money in stocks
Cash to close ($64,999) invested at 7%	$494,787
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$494,787
Building minus stocks	$2,168,574

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $449,991 of principal by year 30	$0
Plus rental profits, invested at 7%$476,086 of profit by year 30, before investment growth	$896,212
What you'd walk away with	$2,037,003
If you put the same money in stocks
Cash to close ($64,999) invested at 7%	$494,787
Monthly shortfalls ($16,825 total by yr 30) investedThe money you'd have put into the building while it lost money	$110,575
What you'd walk away with	$605,361
Building minus stocks	$1,431,642

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $440,991 of principal by year 30	$0
Plus rental profits, invested at 7%$751,559 of profit by year 30, before investment growth	$1,592,183
What you'd walk away with	$2,710,158
If you put the same money in stocks
Cash to close ($63,699) invested at 7%	$484,891
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$484,891
Building minus stocks	$2,225,267

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $440,991 of principal by year 30	$0
Plus rental profits, invested at 7%$494,768 of profit by year 30, before investment growth	$945,558
What you'd walk away with	$2,063,532
If you put the same money in stocks
Cash to close ($63,699) invested at 7%	$484,891
Monthly shortfalls ($13,681 total by yr 30) investedThe money you'd have put into the building while it lost money	$90,307
What you'd walk away with	$575,198
Building minus stocks	$1,488,334

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $399,992 of principal by year 30	$0
Plus rental profits, invested at 7%$862,985 of profit by year 30, before investment growth	$1,986,653
What you'd walk away with	$3,127,444
If you put the same money in stocks
Cash to close ($114,998) invested at 7%	$875,392
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$875,392
Building minus stocks	$2,252,052

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $399,992 of principal by year 30	$0
Plus rental profits, invested at 7%$592,513 of profit by year 30, before investment growth	$1,249,720
What you'd walk away with	$2,390,511
If you put the same money in stocks
Cash to close ($114,998) invested at 7%	$875,392
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$875,392
Building minus stocks	$1,515,119

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $391,992 of principal by year 30	$0
Plus rental profits, invested at 7%$882,146 of profit by year 30, before investment growth	$2,046,984
What you'd walk away with	$3,164,958
If you put the same money in stocks
Cash to close ($112,698) invested at 7%	$857,884
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$857,884
Building minus stocks	$2,307,074

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $391,992 of principal by year 30	$0
Plus rental profits, invested at 7%$611,674 of profit by year 30, before investment growth	$1,310,052
What you'd walk away with	$2,428,026
If you put the same money in stocks
Cash to close ($112,698) invested at 7%	$857,884
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$857,884
Building minus stocks	$1,570,142

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $374,992 of principal by year 30	$0
Plus rental profits, invested at 7%$922,861 of profit by year 30, before investment growth	$2,175,184
What you'd walk away with	$3,315,975
If you put the same money in stocks
Cash to close ($139,997) invested at 7%	$1,065,694
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,065,694
Building minus stocks	$2,250,281

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,607
Minus 6% selling cost	−$72,816
Minus loan still owedTenants' rent paid down all $374,992 of principal by year 30	$0
Plus rental profits, invested at 7%$652,389 of profit by year 30, before investment growth	$1,438,252
What you'd walk away with	$2,579,042
If you put the same money in stocks
Cash to close ($139,997) invested at 7%	$1,065,694
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,065,694
Building minus stocks	$1,513,348

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $367,492 of principal by year 30	$0
Plus rental profits, invested at 7%$940,824 of profit by year 30, before investment growth	$2,231,745
What you'd walk away with	$3,349,719
If you put the same money in stocks
Cash to close ($137,197) invested at 7%	$1,044,380
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,044,380
Building minus stocks	$2,305,339

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,334
Minus 6% selling cost	−$71,360
Minus loan still owedTenants' rent paid down all $367,492 of principal by year 30	$0
Plus rental profits, invested at 7%$670,352 of profit by year 30, before investment growth	$1,494,812
What you'd walk away with	$2,612,786
If you put the same money in stocks
Cash to close ($137,197) invested at 7%	$1,044,380
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,044,380
Building minus stocks	$1,568,406

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 $3.13M, stocks $875K. The property wins.

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 $2,800/mo · range $2,325–$3,150 · 6 rentals within 2.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2616 Taylor St NE, Minneapolis	$2,600	5 / 2	—	1.8 mi	2026-10-02	Apartment
2604/2606 37th Ave NE, Saint Anthony	$2,395	4 / 2.5	1,700	2.0 mi	2026-08-19	Apartment
2734 N 4th St Unit 1, Minneapolis	$3,200	5 / 3	3,000	2.3 mi	2026-01-16	Duplex triplex
2905 32nd Ave NE, Minneapolis	$3,100	4 / 2	—	2.3 mi	2026-09-29	Apartment
3706 N Penn Ave Unit 2, Minneapolis	$1,999	4 / 2	1,351	2.4 mi	2026-07-12	Apartment
2206 Arthur St NE, Minneapolis	$2,950	4 / 2	1,969	2.5 mi	2026-09-01	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 3822 3RD ST NE

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 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.	$7,089
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,563
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	9% / 8%

Status history

2026-08-21New at $499,990

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$7,089
County	Anoka
Parcel number	353024330062

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 Columbia Heights on rental licensing before you buy.

Nearest highway

I 94, about 1623 m away.