1811 E 28th St

Minneapolis, MN · East Phillips · Listing office ↗ · Find the listing ↗

Asking price: $284,900
Monthly cash flow: −$94
Estimated rent: $3,000/mo
Break-even price: $267,284

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
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: −$94
Cash to close: $65,527
Cap rate: 6.0%
Cash-on-cash: −1.7%
DSCR: 0.94×
GRM: 7.9
Price per unit: $142,450
Price that breaks even: $267,284
Rent that breaks even: $3,122/mo
Cash flow turns positive: year 4
Year 30: property vs stocks: $1.08M vs $512K

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$431
Insurance Estimate	−$226
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,423
Mortgage (principal + interest)	−$1,516
Cash flow	−$94
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 $1.08M, stocks $512K. 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%$168,680 of profit by year 30, before investment growth	$283,337
What you'd walk away with	$933,372
If you put the same money in stocks
Cash to close ($37,037) invested at 7%	$281,935
Monthly shortfalls ($21,426 total by yr 30) investedThe money you'd have put into the building while it lost money	$135,481
What you'd walk away with	$417,417
Building minus stocks	$515,955

	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%$63,672 of profit by year 30, before investment growth	$87,485
What you'd walk away with	$737,521
If you put the same money in stocks
Cash to close ($37,037) invested at 7%	$281,935
Monthly shortfalls ($61,314 total by yr 30) investedThe money you'd have put into the building while it lost money	$334,415
What you'd walk away with	$616,350
Building minus stocks	$121,171

	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%$185,462 of profit by year 30, before investment growth	$322,949
What you'd walk away with	$950,168
If you put the same money in stocks
Cash to close ($35,737) invested at 7%	$272,039
Monthly shortfalls ($16,383 total by yr 30) investedThe money you'd have put into the building while it lost money	$105,481
What you'd walk away with	$377,520
Building minus stocks	$572,648

	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%$74,782 of profit by year 30, before investment growth	$106,459
What you'd walk away with	$733,679
If you put the same money in stocks
Cash to close ($35,737) invested at 7%	$272,039
Monthly shortfalls ($50,598 total by yr 30) investedThe money you'd have put into the building while it lost money	$283,776
What you'd walk away with	$555,816
Building minus stocks	$177,863

	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%$225,169 of profit by year 30, before investment growth	$425,943
What you'd walk away with	$1,075,978
If you put the same money in stocks
Cash to close ($65,527) invested at 7%	$498,808
Monthly shortfalls ($1,987 total by yr 30) investedThe money you'd have put into the building while it lost money	$13,648
What you'd walk away with	$512,456
Building minus stocks	$563,522

	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%$102,367 of profit by year 30, before investment growth	$158,152
What you'd walk away with	$808,188
If you put the same money in stocks
Cash to close ($65,527) invested at 7%	$498,808
Monthly shortfalls ($24,081 total by yr 30) investedThe money you'd have put into the building while it lost money	$140,643
What you'd walk away with	$639,451
Building minus stocks	$168,737

	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%$242,857 of profit by year 30, before investment growth	$476,269
What you'd walk away with	$1,103,489
If you put the same money in stocks
Cash to close ($63,227) invested at 7%	$481,300
Monthly shortfalls ($514 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,643
What you'd walk away with	$484,943
Building minus stocks	$618,546

	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%$115,208 of profit by year 30, before investment growth	$184,608
What you'd walk away with	$811,827
If you put the same money in stocks
Cash to close ($63,227) invested at 7%	$481,300
Monthly shortfalls ($17,761 total by yr 30) investedThe money you'd have put into the building while it lost money	$106,767
What you'd walk away with	$588,067
Building minus stocks	$223,760

	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%$257,300 of profit by year 30, before investment growth	$519,722
What you'd walk away with	$1,169,758
If you put the same money in stocks
Cash to close ($79,772) invested at 7%	$607,245
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$607,245
Building minus stocks	$562,513

	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%$125,853 of profit by year 30, before investment growth	$207,702
What you'd walk away with	$857,738
If you put the same money in stocks
Cash to close ($79,772) invested at 7%	$607,245
Monthly shortfalls ($13,449 total by yr 30) investedThe money you'd have put into the building while it lost money	$82,766
What you'd walk away with	$690,010
Building minus stocks	$167,728

	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%$275,263 of profit by year 30, before investment growth	$576,283
What you'd walk away with	$1,203,502
If you put the same money in stocks
Cash to close ($76,972) invested at 7%	$585,930
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$585,930
Building minus stocks	$617,572

	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%$139,364 of profit by year 30, before investment growth	$238,543
What you'd walk away with	$865,762
If you put the same money in stocks
Cash to close ($76,972) invested at 7%	$585,930
Monthly shortfalls ($8,996 total by yr 30) investedThe money you'd have put into the building while it lost money	$57,045
What you'd walk away with	$642,976
Building minus stocks	$222,786

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

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 Public recordHennepin County record, current payable year (non-homestead)	$5,178
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,711
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 1904: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1904
Market value (2026)	$272,600
Property tax	$5,178
Special assessments	none
Homestead	no
Last sale	2021-11-01 · $185,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 55, about 521 m away.

Crime in East Phillips

437 incidents in the last 12 months (89 per 1,000 residents), +5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-07-24New at $284,900