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Minneapolis › Beltrami

456 Buchanan St NE

Minneapolis, MN · Beltrami · Find the listing ↗

Cash flows

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price
$459,950
5 units · $92K per unit
Monthly cash flow
$85
at 20% down, 7%
Estimated rent
$5,550/mo
rough estimate
Break-even price
$475,839
where cash flow hits $0

Adjust these numbers in the calculator See the full breakdown

The numbers

Down payment %
Offer
Management
Interest rate %

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
  • 1 bed / 1 bath (est.)$1,050 $900–$1,200
  • 1 bed / 1 bath (est.)$1,050 $900–$1,200
  • 1 bed / 1 bath (est.)$1,050 $900–$1,200
  • 1 bed / 1 bath (est.)$1,050 $900–$1,200

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
$459,950
Monthly cash flow
$85
Cash to close
$105,788
Cap rate
6.6%
Cash-on-cash
1.0%
DSCR
1.03×
GRM
6.9
Price per unit
$91,990
Price that breaks even
$475,839
Rent that breaks even
$5,440/mo
Cash flow turns positive
year 1
Year 30: property vs stocks
$2.05M vs $805K

Monthly breakdown

Rent$5,550
Vacancy (6%)−$333
Collected$5,217
Property tax Public record−$782
Insurance Estimate−$474
Water, sewer, trash Estimate−$425
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$444
Capital reserve (9% of rent)−$500
Net operating income$2,533
Mortgage (principal + interest)−$2,448
Cash flow$85
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 $2.05M, stocks $805K. The property wins.

How those totals add up

Year 30
If you buy this building
Sale priceValue grows 3% a year from the price$1,116,419
Minus 6% selling cost−$66,985
Minus loan still owedTenants' rent paid down all $367,960 of principal by year 30$0
Plus rental profits, invested at 7%$480,035 of profit by year 30, before investment growth$1,004,225
What you'd walk away with$2,053,659
If you put the same money in stocks
Cash to close ($105,788) invested at 7%$805,289
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$805,289
Building minus stocks$1,248,370

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

  • highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 456 BUCHANAN ST NE, units=4
  • mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 1302924340007: roof=Flat, exterior=WOOD
  • mediumAbout 111 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 111 m
  • low$291 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 1302924340007: special assessments (current) = $290.92

Opportunities

  • The seller bought for $131,500 in Apr 2013, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1302924340007: last sale 2013-04-01, $131,500
  • Long time on market: room to negotiate. Based on: Listing data: 108 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 Public recordHennepin County record, current payable year (non-homestead)$9,381
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$5,689
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$425
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 1910: +1 pt capital reserve8% / 9%

County record Public record

Recorded asapartment 4 or 5 unit
Living units5
Year built1910
Market value (2026)$494,000
Property tax$9,381
Special assessments$291
Homesteadno
Last sale2013-04-01 · $131,500

Source: Hennepin County parcel records.

City rental license

CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 35W, about 111 m away.

Crime in Beltrami

47 incidents in the last 12 months (38 per 1,000 residents), +31% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history