1318 Thomas Ave N

Minneapolis, MN · Willard - Hay · Listing office ↗ · Find the listing ↗

Asking price: $284,900
Monthly cash flow: −$257
Estimated rent: $2,700/mo
Break-even price: $236,568

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: $284,900
Monthly cash flow: −$257
Cash to close: $65,527
Cap rate: 5.3%
Cash-on-cash: −4.7%
DSCR: 0.83×
GRM: 8.8
Price per unit: $142,450
Price that breaks even: $236,568
Rent that breaks even: $3,030/mo
Cash flow turns positive: year 9
Year 30: property vs stocks: $892K vs $579K

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$433
Insurance Estimate	−$184
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	$1,259
Mortgage (principal + interest)	−$1,516
Cash flow	−$257
Principal paid down (equity, not cash)	$193

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 $892K, stocks $579K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $256,410 of principal by year 30	$0
Plus rental profits, invested at 7%$98,961 of profit by year 30, before investment growth	$147,115
What you'd walk away with	$797,150
If you put the same money in stocks
Cash to close ($37,037) invested at 7%	$281,935
Monthly shortfalls ($43,076 total by yr 30) investedThe money you'd have put into the building while it lost money	$249,833
What you'd walk away with	$531,768
Building minus stocks	$265,382

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $256,410 of principal by year 30	$0
Plus rental profits, invested at 7%$24,570 of profit by year 30, before investment growth	$29,652
What you'd walk away with	$679,688
If you put the same money in stocks
Cash to close ($37,037) invested at 7%	$281,935
Monthly shortfalls ($99,090 total by yr 30) investedThe money you'd have put into the building while it lost money	$487,677
What you'd walk away with	$769,612
Building minus stocks	−$89,924

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $247,410 of principal by year 30	$0
Plus rental profits, invested at 7%$112,288 of profit by year 30, before investment growth	$172,872
What you'd walk away with	$800,091
If you put the same money in stocks
Cash to close ($35,737) invested at 7%	$272,039
Monthly shortfalls ($34,576 total by yr 30) investedThe money you'd have put into the building while it lost money	$205,977
What you'd walk away with	$478,016
Building minus stocks	$322,075

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $247,410 of principal by year 30	$0
Plus rental profits, invested at 7%$31,973 of profit by year 30, before investment growth	$40,009
What you'd walk away with	$667,228
If you put the same money in stocks
Cash to close ($35,737) invested at 7%	$272,039
Monthly shortfalls ($84,668 total by yr 30) investedThe money you'd have put into the building while it lost money	$428,420
What you'd walk away with	$700,460
Building minus stocks	−$33,232

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $227,920 of principal by year 30	$0
Plus rental profits, invested at 7%$144,646 of profit by year 30, before investment growth	$241,602
What you'd walk away with	$891,638
If you put the same money in stocks
Cash to close ($65,527) invested at 7%	$498,808
Monthly shortfalls ($12,832 total by yr 30) investedThe money you'd have put into the building while it lost money	$79,881
What you'd walk away with	$578,689
Building minus stocks	$312,949

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $227,920 of principal by year 30	$0
Plus rental profits, invested at 7%$51,516 of profit by year 30, before investment growth	$69,898
What you'd walk away with	$719,934
If you put the same money in stocks
Cash to close ($65,527) invested at 7%	$498,808
Monthly shortfalls ($50,108 total by yr 30) investedThe money you'd have put into the building while it lost money	$263,483
What you'd walk away with	$762,291
Building minus stocks	−$42,357

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $219,920 of principal by year 30	$0
Plus rental profits, invested at 7%$159,418 of profit by year 30, before investment growth	$276,131
What you'd walk away with	$903,350
If you put the same money in stocks
Cash to close ($63,227) invested at 7%	$481,300
Monthly shortfalls ($8,443 total by yr 30) investedThe money you'd have put into the building while it lost money	$54,078
What you'd walk away with	$535,378
Building minus stocks	$367,972

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $219,920 of principal by year 30	$0
Plus rental profits, invested at 7%$61,049 of profit by year 30, before investment growth	$85,838
What you'd walk away with	$713,057
If you put the same money in stocks
Cash to close ($63,227) invested at 7%	$481,300
Monthly shortfalls ($40,480 total by yr 30) investedThe money you'd have put into the building while it lost money	$219,092
What you'd walk away with	$700,392
Building minus stocks	$12,665

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $213,675 of principal by year 30	$0
Plus rental profits, invested at 7%$171,552 of profit by year 30, before investment growth	$305,989
What you'd walk away with	$956,025
If you put the same money in stocks
Cash to close ($79,772) invested at 7%	$607,245
Monthly shortfalls ($5,619 total by yr 30) investedThe money you'd have put into the building while it lost money	$36,840
What you'd walk away with	$644,085
Building minus stocks	$311,940

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$691,527
Minus 6% selling cost	−$41,492
Minus loan still owedTenants' rent paid down all $213,675 of principal by year 30	$0
Plus rental profits, invested at 7%$69,161 of profit by year 30, before investment growth	$100,140
What you'd walk away with	$750,175
If you put the same money in stocks
Cash to close ($79,772) invested at 7%	$607,245
Monthly shortfalls ($33,635 total by yr 30) investedThe money you'd have put into the building while it lost money	$186,297
What you'd walk away with	$793,542
Building minus stocks	−$43,367

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $206,175 of principal by year 30	$0
Plus rental profits, invested at 7%$186,843 of profit by year 30, before investment growth	$345,607
What you'd walk away with	$972,827
If you put the same money in stocks
Cash to close ($76,972) invested at 7%	$585,930
Monthly shortfalls ($2,947 total by yr 30) investedThe money you'd have put into the building while it lost money	$19,898
What you'd walk away with	$605,828
Building minus stocks	$366,999

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,254
Minus 6% selling cost	−$40,035
Minus loan still owedTenants' rent paid down all $206,175 of principal by year 30	$0
Plus rental profits, invested at 7%$79,647 of profit by year 30, before investment growth	$119,576
What you'd walk away with	$746,795
If you put the same money in stocks
Cash to close ($76,972) invested at 7%	$585,930
Monthly shortfalls ($26,158 total by yr 30) investedThe money you'd have put into the building while it lost money	$149,173
What you'd walk away with	$735,104
Building minus stocks	$11,691

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

No red flags in the available data. That isn't the same as none.

Opportunities

The seller bought for $70,875 in Jul 2008, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1702924440200: last sale 2008-07-01, $70,875

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)	$5,199
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,203
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	1969
Market value (2026)	$275,000
Property tax	$5,199
Special assessments	none
Homestead	no
Last sale	2008-07-01 · $70,875

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 1958 m away.

Crime in Willard - Hay

428 incidents in the last 12 months (48 per 1,000 residents), +12% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-25New at $284,900