904 9th Ave SE

Minneapolis, MN · Marcy Holmes · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $384,900
Monthly cash flow: −$475
Estimated rent: $3,300/mo
Break-even price: $295,638

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: $384,900
Monthly cash flow: −$475
Cash to close: $88,527
Cap rate: 4.9%
Cash-on-cash: −6.4%
DSCR: 0.77×
GRM: 9.7
Price per unit: $192,450
Price that breaks even: $295,638
Rent that breaks even: $3,909/mo
Cash flow turns positive: year 12
Year 30: property vs stocks: $1.10M vs $865K

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$571
Insurance Estimate	−$200
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	$1,574
Mortgage (principal + interest)	−$2,049
Cash flow	−$475
Principal paid down (equity, not cash)	$261

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 $1.10M, stocks $865K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $346,410 of principal by year 30	$0
Plus rental profits, invested at 7%$92,071 of profit by year 30, before investment growth	$127,207
What you'd walk away with	$1,005,406
If you put the same money in stocks
Cash to close ($50,037) invested at 7%	$380,894
Monthly shortfalls ($82,412 total by yr 30) investedThe money you'd have put into the building while it lost money	$451,153
What you'd walk away with	$832,048
Building minus stocks	$173,358

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $346,410 of principal by year 30	$0
Plus rental profits, invested at 7%$16,801 of profit by year 30, before investment growth	$19,034
What you'd walk away with	$897,232
If you put the same money in stocks
Cash to close ($50,037) invested at 7%	$380,894
Monthly shortfalls ($166,527 total by yr 30) investedThe money you'd have put into the building while it lost money	$777,244
What you'd walk away with	$1,158,138
Building minus stocks	−$260,906

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 of principal by year 30	$0
Plus rental profits, invested at 7%$103,199 of profit by year 30, before investment growth	$146,228
What you'd walk away with	$1,001,609
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($71,713 total by yr 30) investedThe money you'd have put into the building while it lost money	$400,560
What you'd walk away with	$771,559
Building minus stocks	$230,050

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 of principal by year 30	$0
Plus rental profits, invested at 7%$22,068 of profit by year 30, before investment growth	$25,633
What you'd walk away with	$881,015
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($149,968 total by yr 30) investedThe money you'd have put into the building while it lost money	$714,230
What you'd walk away with	$1,085,228
Building minus stocks	−$204,213

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $307,920 of principal by year 30	$0
Plus rental profits, invested at 7%$144,828 of profit by year 30, before investment growth	$224,122
What you'd walk away with	$1,102,320
If you put the same money in stocks
Cash to close ($88,527) invested at 7%	$673,890
Monthly shortfalls ($32,589 total by yr 30) investedThe money you'd have put into the building while it lost money	$190,810
What you'd walk away with	$864,700
Building minus stocks	$237,620

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $307,920 of principal by year 30	$0
Plus rental profits, invested at 7%$44,711 of profit by year 30, before investment growth	$56,637
What you'd walk away with	$934,835
If you put the same money in stocks
Cash to close ($88,527) invested at 7%	$673,890
Monthly shortfalls ($91,857 total by yr 30) investedThe money you'd have put into the building while it lost money	$457,589
What you'd walk away with	$1,131,479
Building minus stocks	−$196,644

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 of principal by year 30	$0
Plus rental profits, invested at 7%$157,594 of profit by year 30, before investment growth	$250,277
What you'd walk away with	$1,105,659
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($26,194 total by yr 30) investedThe money you'd have put into the building while it lost money	$156,634
What you'd walk away with	$813,016
Building minus stocks	$292,643

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 of principal by year 30	$0
Plus rental profits, invested at 7%$52,397 of profit by year 30, before investment growth	$68,113
What you'd walk away with	$923,495
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($80,383 total by yr 30) investedThe money you'd have put into the building while it lost money	$408,733
What you'd walk away with	$1,065,115
Building minus stocks	−$141,620

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $288,675 of principal by year 30	$0
Plus rental profits, invested at 7%$176,713 of profit by year 30, before investment growth	$291,660
What you'd walk away with	$1,169,858
If you put the same money in stocks
Cash to close ($107,772) invested at 7%	$820,388
Monthly shortfalls ($18,381 total by yr 30) investedThe money you'd have put into the building while it lost money	$113,213
What you'd walk away with	$933,601
Building minus stocks	$236,257

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,253
Minus 6% selling cost	−$56,055
Minus loan still owedTenants' rent paid down all $288,675 of principal by year 30	$0
Plus rental profits, invested at 7%$64,393 of profit by year 30, before investment growth	$86,978
What you'd walk away with	$965,176
If you put the same money in stocks
Cash to close ($107,772) invested at 7%	$820,388
Monthly shortfalls ($65,446 total by yr 30) investedThe money you'd have put into the building while it lost money	$342,796
What you'd walk away with	$1,163,184
Building minus stocks	−$198,008

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 of principal by year 30	$0
Plus rental profits, invested at 7%$190,152 of profit by year 30, before investment growth	$322,180
What you'd walk away with	$1,177,561
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($13,856 total by yr 30) investedThe money you'd have put into the building while it lost money	$87,173
What you'd walk away with	$886,246
Building minus stocks	$291,315

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 of principal by year 30	$0
Plus rental profits, invested at 7%$73,117 of profit by year 30, before investment growth	$101,360
What you'd walk away with	$956,742
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($56,207 total by yr 30) investedThe money you'd have put into the building while it lost money	$300,617
What you'd walk away with	$1,099,691
Building minus stocks	−$142,949

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

mediumAbout 105 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 105 m

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 120 days on market, 2 price cuts

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)	$6,852
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,394
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	1990
Market value (2026)	$360,800
Property tax	$6,852
Special assessments	none
Homestead	no
Last sale	2021-10-01 · $363,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 105 m away.

Crime in Marcy Holmes

873 incidents in the last 12 months (58 per 1,000 residents), +36% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2025-10-22Price cut at $384,900 (was $424,900) · from listing history
2024-12-10Price cut at $424,900 (was $429,900) · from listing history
2026-06-04New at $384,900