1518 Park Ave

Minneapolis, MN · Elliot Park · Find the listing ↗

Overpriced

Asking price: $389,900
Monthly cash flow: −$677
Estimated rent: $3,300/mo
Break-even price: $262,735

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: $389,900
Monthly cash flow: −$677
Cash to close: $89,677
Cap rate: 4.3%
Cash-on-cash: −9.1%
DSCR: 0.67×
GRM: 9.8
Price per unit: $194,950
Price that breaks even: $262,735
Rent that breaks even: $4,179/mo
Cash flow turns positive: year 17
Year 30: property vs stocks: $980K vs $1.06M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Estimate	−$682
Insurance Estimate	−$230
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,398
Mortgage (principal + interest)	−$2,075
Cash flow	−$677
Principal paid down (equity, not cash)	$264

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 $980K, stocks $1.06M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 of principal by year 30	$0
Plus rental profits, invested at 7%$31,346 of profit by year 30, before investment growth	$37,576
What you'd walk away with	$927,182
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($139,482 total by yr 30) investedThe money you'd have put into the building while it lost money	$681,825
What you'd walk away with	$1,067,667
Building minus stocks	−$140,485

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $350,910 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	$889,606
If you put the same money in stocks
Cash to close ($50,687) invested at 7%	$385,842
Monthly shortfalls ($267,522 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,078,513
What you'd walk away with	$1,464,355
Building minus stocks	−$574,749

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $341,910 of principal by year 30	$0
Plus rental profits, invested at 7%$38,305 of profit by year 30, before investment growth	$47,087
What you'd walk away with	$913,877
If you put the same money in stocks
Cash to close ($49,387) invested at 7%	$375,946
Monthly shortfalls ($124,616 total by yr 30) investedThe money you'd have put into the building while it lost money	$621,723
What you'd walk away with	$997,670
Building minus stocks	−$83,793

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $341,910 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	$866,790
If you put the same money in stocks
Cash to close ($49,387) invested at 7%	$375,946
Monthly shortfalls ($245,696 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,008,900
What you'd walk away with	$1,384,846
Building minus stocks	−$518,056

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$67,134 of profit by year 30, before investment growth	$90,357
What you'd walk away with	$979,963
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
Monthly shortfalls ($71,359 total by yr 30) investedThe money you'd have put into the building while it lost money	$372,707
What you'd walk away with	$1,055,351
Building minus stocks	−$75,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $311,920 of principal by year 30	$0
Plus rental profits, invested at 7%$3,915 of profit by year 30, before investment growth	$4,123
What you'd walk away with	$893,729
If you put the same money in stocks
Cash to close ($89,677) invested at 7%	$682,644
Monthly shortfalls ($167,525 total by yr 30) investedThe money you'd have put into the building while it lost money	$720,737
What you'd walk away with	$1,403,381
Building minus stocks	−$509,652

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $303,920 of principal by year 30	$0
Plus rental profits, invested at 7%$76,346 of profit by year 30, before investment growth	$105,456
What you'd walk away with	$972,246
If you put the same money in stocks
Cash to close ($87,377) invested at 7%	$665,136
Monthly shortfalls ($61,410 total by yr 30) investedThe money you'd have put into the building while it lost money	$327,475
What you'd walk away with	$992,611
Building minus stocks	−$20,365

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $303,920 of principal by year 30	$0
Plus rental profits, invested at 7%$6,632 of profit by year 30, before investment growth	$7,171
What you'd walk away with	$873,961
If you put the same money in stocks
Cash to close ($87,377) invested at 7%	$665,136
Monthly shortfalls ($151,081 total by yr 30) investedThe money you'd have put into the building while it lost money	$663,454
What you'd walk away with	$1,328,590
Building minus stocks	−$454,629

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$90,693 of profit by year 30, before investment growth	$130,121
What you'd walk away with	$1,019,728
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
Monthly shortfalls ($48,225 total by yr 30) investedThe money you'd have put into the building while it lost money	$265,452
What you'd walk away with	$1,096,497
Building minus stocks	−$76,769

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$946,390
Minus 6% selling cost	−$56,783
Minus loan still owedTenants' rent paid down all $292,425 of principal by year 30	$0
Plus rental profits, invested at 7%$11,740 of profit by year 30, before investment growth	$13,178
What you'd walk away with	$902,784
If you put the same money in stocks
Cash to close ($109,172) invested at 7%	$831,045
Monthly shortfalls ($128,658 total by yr 30) investedThe money you'd have put into the building while it lost money	$582,772
What you'd walk away with	$1,413,818
Building minus stocks	−$511,034

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $284,925 of principal by year 30	$0
Plus rental profits, invested at 7%$100,869 of profit by year 30, before investment growth	$148,579
What you'd walk away with	$1,015,369
If you put the same money in stocks
Cash to close ($106,372) invested at 7%	$809,731
Monthly shortfalls ($40,438 total by yr 30) investedThe money you'd have put into the building while it lost money	$227,349
What you'd walk away with	$1,037,080
Building minus stocks	−$21,711

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$922,117
Minus 6% selling cost	−$55,327
Minus loan still owedTenants' rent paid down all $284,925 of principal by year 30	$0
Plus rental profits, invested at 7%$15,937 of profit by year 30, before investment growth	$18,371
What you'd walk away with	$885,161
If you put the same money in stocks
Cash to close ($106,372) invested at 7%	$809,731
Monthly shortfalls ($114,891 total by yr 30) investedThe money you'd have put into the building while it lost money	$531,405
What you'd walk away with	$1,341,136
Building minus stocks	−$455,975

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 $127,165 above the price where cash flow breaks even ($262,735) at the default scenario. Based on: Derived: price $389,900 vs. break-even $262,735

Opportunities

None found.

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.	$8,188
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,763
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)	$328,300
Property tax	$4,844
Special assessments	none
Homestead	no
Last sale	2023-05-01 · $385,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94;MN 55, about 155 m away.

Crime in Elliot Park

592 incidents in the last 12 months (79 per 1,000 residents), +2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-07-11New at $389,900