1227 Morgan Ave N

Minneapolis, MN · Near - North · Find the listing ↗

Overpriced

Asking price: $319,900
Monthly cash flow: −$596
Estimated rent: $2,700/mo
Break-even price: $207,864

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

2 bed / 1 bath (est.)$1,350 $1,150–$1,550
2 bed / 1 bath (est.)$1,350 $1,150–$1,550

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: $319,900
Monthly cash flow: −$596
Cash to close: $73,577
Cap rate: 4.2%
Cash-on-cash: −9.7%
DSCR: 0.65×
GRM: 9.9
Price per unit: $159,950
Price that breaks even: $207,864
Rent that breaks even: $3,464/mo
Cash flow turns positive: year 19
Year 30: property vs stocks: $781K vs $913K

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Estimate	−$560
Insurance Estimate	−$210
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (8% of rent)	−$216
Net operating income	$1,106
Mortgage (principal + interest)	−$1,703
Cash flow	−$596
Principal paid down (equity, not cash)	$217

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 $781K, stocks $913K. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $287,910 of principal by year 30	$0
Plus rental profits, invested at 7%$15,400 of profit by year 30, before investment growth	$17,636
What you'd walk away with	$747,529
If you put the same money in stocks
Cash to close ($41,587) invested at 7%	$316,571
Monthly shortfalls ($130,542 total by yr 30) investedThe money you'd have put into the building while it lost money	$615,703
What you'd walk away with	$932,274
Building minus stocks	−$184,745

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $287,910 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	$729,892
If you put the same money in stocks
Cash to close ($41,587) invested at 7%	$316,571
Monthly shortfalls ($245,548 total by yr 30) investedThe money you'd have put into the building while it lost money	$953,373
What you'd walk away with	$1,269,944
Building minus stocks	−$540,052

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $278,910 of principal by year 30	$0
Plus rental profits, invested at 7%$21,059 of profit by year 30, before investment growth	$24,869
What you'd walk away with	$731,945
If you put the same money in stocks
Cash to close ($40,287) invested at 7%	$306,675
Monthly shortfalls ($114,375 total by yr 30) investedThe money you'd have put into the building while it lost money	$553,322
What you'd walk away with	$859,997
Building minus stocks	−$128,052

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $278,910 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	$707,076
If you put the same money in stocks
Cash to close ($40,287) invested at 7%	$306,675
Monthly shortfalls ($223,722 total by yr 30) investedThe money you'd have put into the building while it lost money	$883,760
What you'd walk away with	$1,190,435
Building minus stocks	−$483,359

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $255,920 of principal by year 30	$0
Plus rental profits, invested at 7%$40,051 of profit by year 30, before investment growth	$51,590
What you'd walk away with	$781,482
If you put the same money in stocks
Cash to close ($73,577) invested at 7%	$560,087
Monthly shortfalls ($69,937 total by yr 30) investedThe money you'd have put into the building while it lost money	$352,730
What you'd walk away with	$912,817
Building minus stocks	−$131,335

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $255,920 of principal by year 30	$0
Plus rental profits, invested at 7%$133 of profit by year 30, before investment growth	$133
What you'd walk away with	$730,025
If you put the same money in stocks
Cash to close ($73,577) invested at 7%	$560,087
Monthly shortfalls ($160,424 total by yr 30) investedThe money you'd have put into the building while it lost money	$656,580
What you'd walk away with	$1,216,667
Building minus stocks	−$486,642

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $247,920 of principal by year 30	$0
Plus rental profits, invested at 7%$48,164 of profit by year 30, before investment growth	$64,026
What you'd walk away with	$771,102
If you put the same money in stocks
Cash to close ($71,277) invested at 7%	$542,579
Monthly shortfalls ($58,890 total by yr 30) investedThe money you'd have put into the building while it lost money	$304,835
What you'd walk away with	$847,414
Building minus stocks	−$76,312

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $247,920 of principal by year 30	$0
Plus rental profits, invested at 7%$1,096 of profit by year 30, before investment growth	$1,119
What you'd walk away with	$708,195
If you put the same money in stocks
Cash to close ($71,277) invested at 7%	$542,579
Monthly shortfalls ($142,227 total by yr 30) investedThe money you'd have put into the building while it lost money	$597,235
What you'd walk away with	$1,139,814
Building minus stocks	−$431,619

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $239,925 of principal by year 30	$0
Plus rental profits, invested at 7%$57,182 of profit by year 30, before investment growth	$78,636
What you'd walk away with	$808,528
If you put the same money in stocks
Cash to close ($89,572) invested at 7%	$681,845
Monthly shortfalls ($48,758 total by yr 30) investedThe money you'd have put into the building while it lost money	$259,152
What you'd walk away with	$940,997
Building minus stocks	−$132,469

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$776,481
Minus 6% selling cost	−$46,589
Minus loan still owedTenants' rent paid down all $239,925 of principal by year 30	$0
Plus rental profits, invested at 7%$2,991 of profit by year 30, before investment growth	$3,156
What you'd walk away with	$733,048
If you put the same money in stocks
Cash to close ($89,572) invested at 7%	$681,845
Monthly shortfalls ($124,974 total by yr 30) investedThe money you'd have put into the building while it lost money	$538,978
What you'd walk away with	$1,220,823
Building minus stocks	−$487,775

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $232,425 of principal by year 30	$0
Plus rental profits, invested at 7%$66,416 of profit by year 30, before investment growth	$94,379
What you'd walk away with	$801,455
If you put the same money in stocks
Cash to close ($86,772) invested at 7%	$660,531
Monthly shortfalls ($40,029 total by yr 30) investedThe money you'd have put into the building while it lost money	$218,335
What you'd walk away with	$878,865
Building minus stocks	−$77,410

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$752,209
Minus 6% selling cost	−$45,133
Minus loan still owedTenants' rent paid down all $232,425 of principal by year 30	$0
Plus rental profits, invested at 7%$5,656 of profit by year 30, before investment growth	$6,168
What you'd walk away with	$713,244
If you put the same money in stocks
Cash to close ($86,772) invested at 7%	$660,531
Monthly shortfalls ($109,675 total by yr 30) investedThe money you'd have put into the building while it lost money	$485,430
What you'd walk away with	$1,145,960
Building minus stocks	−$432,716

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

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 1227 MORGAN AVE N
mediumAsking is $112,036 above the price where cash flow breaks even ($207,864) at the default scenario. Based on: Derived: price $319,900 vs. break-even $207,864

Opportunities

The seller bought for $100 in Aug 2009, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 2102924220087: last sale 2009-08-01, $100

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 Estimateestimate. No tax record found; 2.1% of price.	$6,718
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,518
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	1922
Market value (2026)	$375,600
Property tax	$5,636
Special assessments	none
Homestead	no
Last sale	2009-08-01 · $100

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 94, about 1290 m away.

Crime in Near - North

497 incidents in the last 12 months (73 per 1,000 residents), +19% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-07-13New at $319,900