727 Madison St NE

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

Far off

67 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $649,900
Monthly cash flow: −$1,878
Estimated rent: $3,650/mo
Break-even price: $297,028

Adjust the numbers See the full breakdown

From the listing

One-of-a-kind three-level duplex located in the heart of Northeast Minneapolis! This unique property offers two spacious, move-in-ready units with fresh paint, beautiful hardwood floors and numerous updates throughout. The main-level unit features 2 bedrooms and a full bathroom with an open, comfortable floor plan. Gleaming hardwood floors complement brand-new luxury vinyl flooring in the kitchen and bathroom, creating a fresh, updated feel throughout. The expansive second unit spans the upper two levels and offers nearly 2,500 square feet of living space-a rare find in a duplex! Freshly painted throughout, this impressive unit features gleaming hardwood floors, brand-new carpeting and new luxury vinyl flooring in the kitchen and second laundry room. Built-in desks, a versatile loft area and generous living spaces add character and functionality. Enjoy outdoor living with balconies on all three levels, along with a large welcoming front porch. A two-car garage provides additional convenience and off-street parking. A truly distinctive Northeast Minneapolis property offering exceptional space, character and flexibility in a fantastic location!

Listing courtesy of Edina Realty, Inc. (Jay Ettinger). Description from Realtor.com, MLS #7153055. 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: $649,900
Cash to close: $149,477
Price per unit: $324,950
GRM: 14.8

Each month

Cash flow: −$1,878/mo
Cash-on-cash: −15.1%
Cap rate: 2.9%
DSCR: 0.46×

Break-even

Price that breaks even: $297,028
Rent that breaks even: $6,089/mo

Long run

Year 30: property vs stocks: $1.48M vs $2.71M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$3,650
Vacancy (6%)	−$219
Collected	$3,431
Property tax Listing	−$756
Insurance Estimate	−$244
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$292
Capital reserve (9% of rent)	−$328
Net operating income	$1,581
Mortgage (principal + interest)	−$3,459
Cash flow	−$1,878
Principal paid down (equity, not cash)	$440

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	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $584,910 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	$1,482,829
If you put the same money in stocks
Cash to close ($84,487) invested at 7%	$643,137
Monthly shortfalls ($575,628 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,178,284
What you'd walk away with	$2,821,420
Building minus stocks	−$1,338,591

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $584,910 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	$1,482,829
If you put the same money in stocks
Cash to close ($84,487) invested at 7%	$643,137
Monthly shortfalls ($751,918 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,658,606
What you'd walk away with	$3,301,743
Building minus stocks	−$1,818,914

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $575,910 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	$1,460,013
If you put the same money in stocks
Cash to close ($83,187) invested at 7%	$633,241
Monthly shortfalls ($553,802 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,108,671
What you'd walk away with	$2,741,911
Building minus stocks	−$1,281,898

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $575,910 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	$1,460,013
If you put the same money in stocks
Cash to close ($83,187) invested at 7%	$633,241
Monthly shortfalls ($730,092 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,588,993
What you'd walk away with	$3,222,234
Building minus stocks	−$1,762,221

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $519,920 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	$1,482,829
If you put the same money in stocks
Cash to close ($149,477) invested at 7%	$1,137,857
Monthly shortfalls ($402,424 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,575,057
What you'd walk away with	$2,712,914
Building minus stocks	−$1,230,085

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $519,920 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	$1,482,829
If you put the same money in stocks
Cash to close ($149,477) invested at 7%	$1,137,857
Monthly shortfalls ($578,714 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,055,379
What you'd walk away with	$3,193,236
Building minus stocks	−$1,710,407

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $511,920 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	$1,460,013
If you put the same money in stocks
Cash to close ($147,177) invested at 7%	$1,120,349
Monthly shortfalls ($383,263 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,514,726
What you'd walk away with	$2,635,075
Building minus stocks	−$1,175,062

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $511,920 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	$1,460,013
If you put the same money in stocks
Cash to close ($147,177) invested at 7%	$1,120,349
Monthly shortfalls ($559,553 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,995,048
What you'd walk away with	$3,115,397
Building minus stocks	−$1,655,384

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $487,425 of principal by year 30	$0
Plus rental profits, invested at 7%$549 of profit by year 30, before investment growth	$549
What you'd walk away with	$1,483,378
If you put the same money in stocks
Cash to close ($181,972) invested at 7%	$1,385,217
Monthly shortfalls ($325,145 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,330,548
What you'd walk away with	$2,715,766
Building minus stocks	−$1,232,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,577,478
Minus 6% selling cost	−$94,649
Minus loan still owedTenants' rent paid down all $487,425 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	$1,482,829
If you put the same money in stocks
Cash to close ($181,972) invested at 7%	$1,385,217
Monthly shortfalls ($500,885 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,810,321
What you'd walk away with	$3,195,539
Building minus stocks	−$1,712,710

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $479,925 of principal by year 30	$0
Plus rental profits, invested at 7%$1,334 of profit by year 30, before investment growth	$1,347
What you'd walk away with	$1,461,360
If you put the same money in stocks
Cash to close ($179,172) invested at 7%	$1,363,903
Monthly shortfalls ($307,967 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,274,786
What you'd walk away with	$2,638,689
Building minus stocks	−$1,177,329

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,553,205
Minus 6% selling cost	−$93,192
Minus loan still owedTenants' rent paid down all $479,925 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	$1,460,013
If you put the same money in stocks
Cash to close ($179,172) invested at 7%	$1,363,903
Monthly shortfalls ($482,922 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,753,761
What you'd walk away with	$3,117,664
Building minus stocks	−$1,657,651

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 $1.48M, stocks $2.71M. Stocks win.

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 $1,825/mo · range $1,650–$2,075 · 10 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1226 Adams St NE, Minneapolis	$2,049	3 / 1	1,750	0.2 mi	2026-07-08	Apartment
410 5th St NE, Minneapolis	$1,650	3 / 1	—	0.3 mi	2026-09-25	Apartment
1322 Central Ave NE Unit 1, Minneapolis	$1,800	3 / 1	1,150	0.4 mi	2026-09-10	Duplex triplex
912 4th St NE Unit Upstairs, Minneapolis	$1,900	3 / 1	1,250	0.4 mi	2026-06-03	Duplex triplex
912 4th St NE Unit Main, Minneapolis	$2,100	3 / 1	1,120	0.4 mi	2026-03-04	Duplex triplex
1460 Van Buren St NE, Minneapolis	$1,570	3 / 1.5	1,154	0.5 mi	2026-07-30	Apartment
1622 Washington St NE, Minneapolis	$1,795	3 / 1	1,200	0.5 mi	2026-09-21	Apartment
742 Buchanan St NE, Minneapolis	$1,700	3 / 1	—	0.7 mi	2026-04-02	Apartment
22 University Ave NE, Minneapolis	$2,375	3 / 2	1,168	0.7 mi	2026-03-02	Apartment
430 8th St SE, Minneapolis	$1,400	3 / 1	—	0.7 mi	2025-10-09	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

mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 727 MADISON ST N E
mediumAsking is $352,872 above the price where cash flow breaks even ($297,028) at the default scenario. Based on: Derived: price $649,900 vs. break-even $297,028

Opportunities

The seller bought for $259,000 in Sep 2002, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1402924420023: last sale 2002-09-01, $259,000

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 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.	$9,068
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,927
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%

Status history

2026-10-01New at $649,900

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$569,900
Property tax	$9,068
Special assessments	none
Homestead	no
Last sale	2002-09-01 · $259,000

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 35W, about 1157 m away.

Crime in St. Anthony East

100 incidents in the last 12 months (46 per 1,000 residents), +23% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).