5921 Chicago Ave S

Minneapolis, MN · Diamond Lake · View the listing ↗

24 photos

Photos courtesy of Lakes Area Realty - South - Broker, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.

Asking price: $557,000
Monthly cash flow: −$380
Estimated rent: $4,675/mo
Break-even price: $485,623

Adjust the numbers See the full breakdown

From the listing

Own two homes in one compelling South Minneapolis location. This stone-front side-by-side duplex offers two leased residences today and the possibility of living in one while renting the other when the existing leases allow. Wood floors, comfortable living spaces and practical kitchens give each home everyday appeal. At 5923, an arched opening connects the living and dining rooms, with a lower-level family room for more space to spread out. Outside, the pergola-covered patio, lawn and garden beds offer room to relax, play and grill; a detached two-stall garage adds parking and storage. Kowalski's is up Chicago Avenue, with Diamond Lake, Pearl Park and Minnehaha Creek nearby. It's a property a buyer can hold as a rental or make part of their own South Minneapolis life.

Listing courtesy of Lakes Area Realty - South - Broker (Carson Brooks). Description from Realtor.com, MLS #7139419. 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: $557,000
Cash to close: $128,110
Price per unit: $278,500
GRM: 9.9

Each month

Cash flow: −$380/mo
Cash-on-cash: −3.6%
Cap rate: 5.6%
DSCR: 0.87×

Break-even

Price that breaks even: $485,623
Rent that breaks even: $5,162/mo

Long run

Year 30: property vs stocks: $1.92M vs $1.07M
Cash flow turns positive: year 6

Monthly

Monthly breakdown

Rent	$4,675
Vacancy (6%)	−$280
Collected	$4,394
Property tax Listing	−$626
Insurance Estimate	−$206
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$374
Capital reserve (8% of rent)	−$374
Net operating income	$2,585
Mortgage (principal + interest)	−$2,965
Cash flow	−$380
Principal paid down (equity, not cash)	$377

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	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $501,300 of principal by year 30	$0
Plus rental profits, invested at 7%$271,445 of profit by year 30, before investment growth	$427,720
What you'd walk away with	$1,698,586
If you put the same money in stocks
Cash to close ($72,410) invested at 7%	$551,203
Monthly shortfalls ($63,100 total by yr 30) investedThe money you'd have put into the building while it lost money	$382,471
What you'd walk away with	$933,675
Building minus stocks	$764,911

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $501,300 of principal by year 30	$0
Plus rental profits, invested at 7%$118,787 of profit by year 30, before investment growth	$159,855
What you'd walk away with	$1,430,721
If you put the same money in stocks
Cash to close ($72,410) invested at 7%	$551,203
Monthly shortfalls ($136,239 total by yr 30) investedThe money you'd have put into the building while it lost money	$729,814
What you'd walk away with	$1,281,017
Building minus stocks	$149,704

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $492,300 of principal by year 30	$0
Plus rental profits, invested at 7%$286,241 of profit by year 30, before investment growth	$458,821
What you'd walk away with	$1,706,871
If you put the same money in stocks
Cash to close ($71,110) invested at 7%	$541,307
Monthly shortfalls ($56,070 total by yr 30) investedThe money you'd have put into the building while it lost money	$343,960
What you'd walk away with	$885,267
Building minus stocks	$821,604

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $492,300 of principal by year 30	$0
Plus rental profits, invested at 7%$128,976 of profit by year 30, before investment growth	$176,391
What you'd walk away with	$1,424,441
If you put the same money in stocks
Cash to close ($71,110) invested at 7%	$541,307
Monthly shortfalls ($124,601 total by yr 30) investedThe money you'd have put into the building while it lost money	$676,737
What you'd walk away with	$1,218,044
Building minus stocks	$206,397

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $445,600 of principal by year 30	$0
Plus rental profits, invested at 7%$370,675 of profit by year 30, before investment growth	$652,728
What you'd walk away with	$1,923,594
If you put the same money in stocks
Cash to close ($128,110) invested at 7%	$975,206
Monthly shortfalls ($13,885 total by yr 30) investedThe money you'd have put into the building while it lost money	$90,481
What you'd walk away with	$1,065,687
Building minus stocks	$857,907

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $445,600 of principal by year 30	$0
Plus rental profits, invested at 7%$190,291 of profit by year 30, before investment growth	$285,614
What you'd walk away with	$1,556,480
If you put the same money in stocks
Cash to close ($128,110) invested at 7%	$975,206
Monthly shortfalls ($59,297 total by yr 30) investedThe money you'd have put into the building while it lost money	$338,574
What you'd walk away with	$1,313,780
Building minus stocks	$242,700

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $437,600 of principal by year 30	$0
Plus rental profits, invested at 7%$386,643 of profit by year 30, before investment growth	$693,124
What you'd walk away with	$1,941,174
If you put the same money in stocks
Cash to close ($125,810) invested at 7%	$957,698
Monthly shortfalls ($10,692 total by yr 30) investedThe money you'd have put into the building while it lost money	$70,546
What you'd walk away with	$1,028,244
Building minus stocks	$912,930

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $437,600 of principal by year 30	$0
Plus rental profits, invested at 7%$202,250 of profit by year 30, before investment growth	$308,892
What you'd walk away with	$1,556,942
If you put the same money in stocks
Cash to close ($125,810) invested at 7%	$957,698
Monthly shortfalls ($52,095 total by yr 30) investedThe money you'd have put into the building while it lost money	$301,522
What you'd walk away with	$1,259,219
Building minus stocks	$297,723

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $417,750 of principal by year 30	$0
Plus rental profits, invested at 7%$427,875 of profit by year 30, before investment growth	$802,245
What you'd walk away with	$2,073,111
If you put the same money in stocks
Cash to close ($155,960) invested at 7%	$1,187,207
Monthly shortfalls ($4,382 total by yr 30) investedThe money you'd have put into the building while it lost money	$29,971
What you'd walk away with	$1,217,178
Building minus stocks	$855,933

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,351,985
Minus 6% selling cost	−$81,119
Minus loan still owedTenants' rent paid down all $417,750 of principal by year 30	$0
Plus rental profits, invested at 7%$233,648 of profit by year 30, before investment growth	$372,834
What you'd walk away with	$1,643,700
If you put the same money in stocks
Cash to close ($155,960) invested at 7%	$1,187,207
Monthly shortfalls ($35,951 total by yr 30) investedThe money you'd have put into the building while it lost money	$215,766
What you'd walk away with	$1,402,974
Building minus stocks	$240,726

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $410,250 of principal by year 30	$0
Plus rental profits, invested at 7%$444,063 of profit by year 30, before investment growth	$846,973
What you'd walk away with	$2,095,023
If you put the same money in stocks
Cash to close ($153,160) invested at 7%	$1,165,893
Monthly shortfalls ($2,606 total by yr 30) investedThe money you'd have put into the building while it lost money	$18,138
What you'd walk away with	$1,184,031
Building minus stocks	$910,992

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,327,713
Minus 6% selling cost	−$79,663
Minus loan still owedTenants' rent paid down all $410,250 of principal by year 30	$0
Plus rental profits, invested at 7%$246,223 of profit by year 30, before investment growth	$399,698
What you'd walk away with	$1,647,748
If you put the same money in stocks
Cash to close ($153,160) invested at 7%	$1,165,893
Monthly shortfalls ($30,562 total by yr 30) investedThe money you'd have put into the building while it lost money	$186,070
What you'd walk away with	$1,351,963
Building minus stocks	$295,785

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 $1.92M, stocks $1.07M. 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.

3 bed estimate $2,675/mo · range $2,025–$2,675 · 10 rentals within 3 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
5100 Bloomington Ave S, Minneapolis	$1,900	3 / 1	1,231	1.2 mi	2026-09-22	Multi family
6401 Lyndale Ave S, Richfield	$2,500	3 / 2	1,344	1.3 mi	2025-03-18	Apartment
5320 Lyndale Ave S, Minneapolis	$1,999	3 / 2	1,281	1.5 mi	2026-02-19	Apartment
4429 Nicollet Ave, Minneapolis	$1,999	3 / 1	1,050	2.0 mi	2026-01-22	Apartment
5515 Oliver Ave S, Minneapolis	$4,200	3 / 1	—	2.2 mi	2026-08-01	Duplex triplex
6200 Penn Ave S, Richfield	$4,286	3 / 2	1,796	2.3 mi	2024-04-12	Apartment
5005 Oliver Ave S Unit 2, Minneapolis	$2,850	3 / —	3,864	2.5 mi	2026-10-02	Duplex triplex
8162 Bloomington Ave S, Bloomington	$2,125	3 / 1.5	1,210	2.7 mi	2024-04-12	Apartment
3250 W 66th St, Edina	$3,870	3 / 3	1,580	3.0 mi	2025-05-01	Apartment
6725 York Ave S, Edina	$3,329	3 / 3	1,537	3.0 mi	2025-01-03	Apartment

2 bed estimate $2,000/mo · range $1,375–$2,150 · 7 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
127 E 59th St, Minneapolis	$1,450	2 / 1	860	0.7 mi	2026-02-18	Apartment
6300 Richfield Pkwy, Richfield	$2,137	2 / 2	1,079	0.8 mi	2025-09-09	Apartment
6630 Richfield Pkwy, Richfield	$2,004	2 / 2	982	1.1 mi	2025-03-26	Apartment
6321 6329 Pleasant Ave S, Richfield	$1,125	2 / 1	710	1.1 mi	2025-04-01	Apartment
6445 Lyndale Ave S, Richfield	$2,345	2 / 2	1,142	1.3 mi	2024-04-12	Apartment
6401 Lyndale Ave S, Richfield	$1,975	2 / 2	1,238	1.3 mi	2025-03-18	Apartment
800 W 65th St, Richfield	$1,350	2 / 1	985	1.4 mi	2025-01-08	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

highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 5921 CHICAGO AVE, units=1

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.	$7,508
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,474
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%

Status history

2026-10-01New at $557,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1947
Market value (2026)	$489,100
Property tax	$7,508
Special assessments	none
Homestead	no
Last sale	2016-06-01 · $409,300

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 62, about 513 m away.

Crime in Diamond Lake

124 incidents in the last 12 months (21 per 1,000 residents), −7% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).