435 Madison St NE

Minneapolis, MN · St. Anthony East · Listing office ↗ · Find the listing ↗

Far off

Asking price: $450,000
Monthly cash flow: −$1,484
Estimated rent: $2,700/mo
Break-even price: $171,210

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

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: $450,000
Monthly cash flow: −$1,484
Cash to close: $103,500
Cap rate: 2.4%
Cash-on-cash: −17.2%
DSCR: 0.38×
GRM: 13.9
Price per unit: $225,000
Price that breaks even: $171,210
Rent that breaks even: $4,602/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $1.03M vs $2.20M

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$769
Insurance Estimate	−$196
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (8% of rent)	−$216
Net operating income	$911
Mortgage (principal + interest)	−$2,395
Cash flow	−$1,484
Principal paid down (equity, not cash)	$305

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 $1.03M, stocks $2.20M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $405,000 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	$1,026,732
If you put the same money in stocks
Cash to close ($58,500) invested at 7%	$445,317
Monthly shortfalls ($519,949 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,825,163
What you'd walk away with	$2,270,480
Building minus stocks	−$1,243,748

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $405,000 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	$1,026,732
If you put the same money in stocks
Cash to close ($58,500) invested at 7%	$445,317
Monthly shortfalls ($650,356 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,180,469
What you'd walk away with	$2,625,786
Building minus stocks	−$1,599,054

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $396,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($57,200) invested at 7%	$435,421
Monthly shortfalls ($498,124 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,755,550
What you'd walk away with	$2,190,971
Building minus stocks	−$1,187,055

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $396,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($57,200) invested at 7%	$435,421
Monthly shortfalls ($628,530 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,110,856
What you'd walk away with	$2,546,277
Building minus stocks	−$1,542,361

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $360,000 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	$1,026,732
If you put the same money in stocks
Cash to close ($103,500) invested at 7%	$787,868
Monthly shortfalls ($400,020 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,407,480
What you'd walk away with	$2,195,348
Building minus stocks	−$1,168,616

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $360,000 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	$1,026,732
If you put the same money in stocks
Cash to close ($103,500) invested at 7%	$787,868
Monthly shortfalls ($530,427 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,762,787
What you'd walk away with	$2,550,655
Building minus stocks	−$1,523,923

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $352,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($101,200) invested at 7%	$770,360
Monthly shortfalls ($380,860 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,347,149
What you'd walk away with	$2,117,509
Building minus stocks	−$1,113,593

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $352,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($101,200) invested at 7%	$770,360
Monthly shortfalls ($511,266 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,702,455
What you'd walk away with	$2,472,816
Building minus stocks	−$1,468,900

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $337,500 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	$1,026,732
If you put the same money in stocks
Cash to close ($126,000) invested at 7%	$959,144
Monthly shortfalls ($346,131 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,237,798
What you'd walk away with	$2,196,942
Building minus stocks	−$1,170,210

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,092,268
Minus 6% selling cost	−$65,536
Minus loan still owedTenants' rent paid down all $337,500 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	$1,026,732
If you put the same money in stocks
Cash to close ($126,000) invested at 7%	$959,144
Monthly shortfalls ($476,537 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,593,105
What you'd walk away with	$2,552,249
Building minus stocks	−$1,525,517

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $330,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($123,200) invested at 7%	$937,830
Monthly shortfalls ($328,168 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,181,238
What you'd walk away with	$2,119,068
Building minus stocks	−$1,115,152

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $330,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($123,200) invested at 7%	$937,830
Monthly shortfalls ($458,574 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,536,545
What you'd walk away with	$2,474,374
Building minus stocks	−$1,470,458

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

mediumAsking is $278,790 above the price where cash flow breaks even ($171,210) at the default scenario. Based on: Derived: price $450,000 vs. break-even $171,210

Opportunities

The seller bought for $195,000 in Jan 2010, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1402924430026: last sale 2010-01-01, $195,000

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)	$9,230
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,348
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. base rate	8% / 8%

County record Public record

Recorded as	duplex
Living units	2
Year built	1968
Market value (2026)	$486,000
Property tax	$9,230
Special assessments	none
Homestead	no
Last sale	2010-01-01 · $195,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 2 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 35W, about 1154 m away.

Crime in St. Anthony East

102 incidents in the last 12 months (47 per 1,000 residents), +27% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-14New at $450,000