671 Spring St NE

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

Far off

Asking price: $350,000
Monthly cash flow: −$769
Estimated rent: $2,100/mo
Break-even price: $205,600

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

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: $350,000
Monthly cash flow: −$769
Cash to close: $80,500
Cap rate: 3.8%
Cash-on-cash: −11.5%
DSCR: 0.59×
GRM: 13.9
Price per unit: $175,000
Price that breaks even: $205,600
Rent that breaks even: $3,098/mo
Cash flow turns positive: year 21
Year 30: property vs stocks: $837K vs $1.11M

Monthly breakdown

Rent	$2,100
Vacancy (6%)	−$126
Collected	$1,974
Property tax Public record	−$93
Insurance Estimate	−$200
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$168
Capital reserve (9% of rent)	−$189
Net operating income	$1,094
Mortgage (principal + interest)	−$1,863
Cash flow	−$769
Principal paid down (equity, not cash)	$237

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 $837K, stocks $1.11M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 of principal by year 30	$0
Plus rental profits, invested at 7%$10,465 of profit by year 30, before investment growth	$11,471
What you'd walk away with	$810,041
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($175,019 total by yr 30) investedThe money you'd have put into the building while it lost money	$793,898
What you'd walk away with	$1,140,256
Building minus stocks	−$330,215

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 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	$798,569
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($265,981 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,058,777
What you'd walk away with	$1,405,135
Building minus stocks	−$606,566

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 of principal by year 30	$0
Plus rental profits, invested at 7%$14,778 of profit by year 30, before investment growth	$16,616
What you'd walk away with	$792,369
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($157,506 total by yr 30) investedThe money you'd have put into the building while it lost money	$729,430
What you'd walk away with	$1,065,892
Building minus stocks	−$273,523

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 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	$775,753
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($244,155 total by yr 30) investedThe money you'd have put into the building while it lost money	$989,164
What you'd walk away with	$1,325,626
Building minus stocks	−$549,873

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 of principal by year 30	$0
Plus rental profits, invested at 7%$31,799 of profit by year 30, before investment growth	$38,722
What you'd walk away with	$837,291
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($103,076 total by yr 30) investedThe money you'd have put into the building while it lost money	$496,285
What you'd walk away with	$1,109,071
Building minus stocks	−$271,780

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 of principal by year 30	$0
Plus rental profits, invested at 7%$2,199 of profit by year 30, before investment growth	$2,269
What you'd walk away with	$800,839
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($174,902 total by yr 30) investedThe money you'd have put into the building while it lost money	$736,182
What you'd walk away with	$1,348,968
Building minus stocks	−$548,129

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$38,437 of profit by year 30, before investment growth	$48,040
What you'd walk away with	$823,793
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($90,552 total by yr 30) investedThe money you'd have put into the building while it lost money	$445,271
What you'd walk away with	$1,040,549
Building minus stocks	−$216,756

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$4,306 of profit by year 30, before investment growth	$4,557
What you'd walk away with	$780,310
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($157,849 total by yr 30) investedThe money you'd have put into the building while it lost money	$678,138
What you'd walk away with	$1,273,416
Building minus stocks	−$493,106

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 of principal by year 30	$0
Plus rental profits, invested at 7%$47,206 of profit by year 30, before investment growth	$60,907
What you'd walk away with	$859,476
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($76,568 total by yr 30) investedThe money you'd have put into the building while it lost money	$386,495
What you'd walk away with	$1,132,496
Building minus stocks	−$273,020

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 of principal by year 30	$0
Plus rental profits, invested at 7%$7,723 of profit by year 30, before investment growth	$8,427
What you'd walk away with	$806,996
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($138,512 total by yr 30) investedThe money you'd have put into the building while it lost money	$610,365
What you'd walk away with	$1,356,366
Building minus stocks	−$549,370

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$54,847 of profit by year 30, before investment growth	$72,646
What you'd walk away with	$848,399
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($66,246 total by yr 30) investedThe money you'd have put into the building while it lost money	$341,674
What you'd walk away with	$1,066,360
Building minus stocks	−$217,961

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$11,147 of profit by year 30, before investment growth	$12,473
What you'd walk away with	$788,226
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($123,973 total by yr 30) investedThe money you'd have put into the building while it lost money	$557,851
What you'd walk away with	$1,282,537
Building minus stocks	−$494,311

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 $144,400 above the price where cash flow breaks even ($205,600) at the default scenario. Based on: Derived: price $350,000 vs. break-even $205,600

Opportunities

The seller bought for $143,275 in Apr 2001, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1402924420072: last sale 2001-04-01, $143,275
Long time on market: room to negotiate. Based on: Listing data: 106 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)	$1,112
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,401
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. built 1900: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$287,200
Property tax	$1,112
Special assessments	none
Homestead	no
Last sale	2001-04-01 · $143,275

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1220 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

2026-06-18New at $350,000