Minneapolis › Armatage

5844 Washburn Ave S

Minneapolis, MN · Armatage · Find the listing ↗

Far off

Asking price: $480,000
Monthly cash flow: −$1,096
Estimated rent: $3,300/mo
Break-even price: $274,154

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
3 bed / 1 bath (est.)$1,650 $1,400–$1,900

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: $480,000
Monthly cash flow: −$1,096
Cash to close: $110,400
Cap rate: 3.6%
Cash-on-cash: −11.9%
DSCR: 0.57×
GRM: 12.1
Price per unit: $240,000
Price that breaks even: $274,154
Rent that breaks even: $4,705/mo
Cash flow turns positive: year 23
Year 30: property vs stocks: $1.12M vs $1.60M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$690
Insurance Estimate	−$195
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (8% of rent)	−$264
Net operating income	$1,459
Mortgage (principal + interest)	−$2,555
Cash flow	−$1,096
Principal paid down (equity, not cash)	$325

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 $1.60M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
Minus loan still owedTenants' rent paid down all $432,000 of principal by year 30	$0
Plus rental profits, invested at 7%$3,402 of profit by year 30, before investment growth	$3,518
What you'd walk away with	$1,098,699
If you put the same money in stocks
Cash to close ($62,400) invested at 7%	$475,005
Monthly shortfalls ($272,143 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,177,886
What you'd walk away with	$1,652,890
Building minus stocks	−$554,191

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
Minus loan still owedTenants' rent paid down all $432,000 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	$1,095,181
If you put the same money in stocks
Cash to close ($62,400) invested at 7%	$475,005
Monthly shortfalls ($428,126 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,608,631
What you'd walk away with	$2,083,636
Building minus stocks	−$988,455

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $423,000 of principal by year 30	$0
Plus rental profits, invested at 7%$5,678 of profit by year 30, before investment growth	$5,975
What you'd walk away with	$1,078,340
If you put the same money in stocks
Cash to close ($61,100) invested at 7%	$465,109
Monthly shortfalls ($252,592 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,110,729
What you'd walk away with	$1,575,838
Building minus stocks	−$497,498

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $423,000 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	$1,072,365
If you put the same money in stocks
Cash to close ($61,100) invested at 7%	$465,109
Monthly shortfalls ($406,300 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,539,018
What you'd walk away with	$2,004,127
Building minus stocks	−$931,762

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
Minus loan still owedTenants' rent paid down all $384,000 of principal by year 30	$0
Plus rental profits, invested at 7%$22,919 of profit by year 30, before investment growth	$26,373
What you'd walk away with	$1,121,553
If you put the same money in stocks
Cash to close ($110,400) invested at 7%	$840,393
Monthly shortfalls ($163,735 total by yr 30) investedThe money you'd have put into the building while it lost money	$755,212
What you'd walk away with	$1,595,605
Building minus stocks	−$474,052

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
Minus loan still owedTenants' rent paid down all $384,000 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	$1,095,181
If you put the same money in stocks
Cash to close ($110,400) invested at 7%	$840,393
Monthly shortfalls ($300,201 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,163,103
What you'd walk away with	$2,003,496
Building minus stocks	−$908,315

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $376,000 of principal by year 30	$0
Plus rental profits, invested at 7%$28,029 of profit by year 30, before investment growth	$32,925
What you'd walk away with	$1,105,290
If you put the same money in stocks
Cash to close ($108,100) invested at 7%	$822,885
Monthly shortfalls ($149,684 total by yr 30) investedThe money you'd have put into the building while it lost money	$701,433
What you'd walk away with	$1,524,318
Building minus stocks	−$419,028

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $376,000 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	$1,072,365
If you put the same money in stocks
Cash to close ($108,100) invested at 7%	$822,885
Monthly shortfalls ($281,041 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,102,772
What you'd walk away with	$1,925,656
Building minus stocks	−$853,291

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
Minus loan still owedTenants' rent paid down all $360,000 of principal by year 30	$0
Plus rental profits, invested at 7%$39,843 of profit by year 30, before investment growth	$48,823
What you'd walk away with	$1,144,004
If you put the same money in stocks
Cash to close ($134,400) invested at 7%	$1,023,087
Monthly shortfalls ($123,177 total by yr 30) investedThe money you'd have put into the building while it lost money	$596,668
What you'd walk away with	$1,619,756
Building minus stocks	−$475,752

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,165,086
Minus 6% selling cost	−$69,905
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	$1,095,181
If you put the same money in stocks
Cash to close ($134,400) invested at 7%	$1,023,087
Monthly shortfalls ($242,719 total by yr 30) investedThe money you'd have put into the building while it lost money	$982,109
What you'd walk away with	$2,005,196
Building minus stocks	−$910,015

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $352,500 of principal by year 30	$0
Plus rental profits, invested at 7%$46,131 of profit by year 30, before investment growth	$57,687
What you'd walk away with	$1,130,052
If you put the same money in stocks
Cash to close ($131,600) invested at 7%	$1,001,773
Monthly shortfalls ($111,502 total by yr 30) investedThe money you'd have put into the building while it lost money	$548,972
What you'd walk away with	$1,550,745
Building minus stocks	−$420,693

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,140,813
Minus 6% selling cost	−$68,449
Minus loan still owedTenants' rent paid down all $352,500 of principal by year 30	$0
Plus rental profits, invested at 7%$473 of profit by year 30, before investment growth	$473
What you'd walk away with	$1,072,837
If you put the same money in stocks
Cash to close ($131,600) invested at 7%	$1,001,773
Monthly shortfalls ($225,229 total by yr 30) investedThe money you'd have put into the building while it lost money	$926,022
What you'd walk away with	$1,927,794
Building minus stocks	−$854,957

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 $205,846 above the price where cash flow breaks even ($274,154) at the default scenario. Based on: Derived: price $480,000 vs. break-even $274,154

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 195 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)	$8,283
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,336
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	1961
Market value (2026)	$437,800
Property tax	$8,283
Special assessments	none
Homestead	no
Last sale	2025-03-01 · $426,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 62, about 644 m away.

Crime in Armatage

45 incidents in the last 12 months (8 per 1,000 residents), −40% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-03-21Price increase at $480,000 (was $399,900) · from listing history
2026-03-21New at $480,000