Minneapolis › Whittier

2024 Harriet Ave

Minneapolis, MN · Whittier · Find the listing ↗

Far off

Asking price: $499,000
Monthly cash flow: −$1,539
Estimated rent: $3,000/mo
Break-even price: $209,793

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: $499,000
Monthly cash flow: −$1,539
Cash to close: $114,770
Cap rate: 2.7%
Cash-on-cash: −16.1%
DSCR: 0.42×
GRM: 13.9
Price per unit: $249,500
Price that breaks even: $209,793
Rent that breaks even: $4,999/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $1.14M vs $2.26M

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$738
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	$1,117
Mortgage (principal + interest)	−$2,656
Cash flow	−$1,539
Principal paid down (equity, not cash)	$338

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 $1.14M, stocks $2.26M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $449,100 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	$1,138,532
If you put the same money in stocks
Cash to close ($64,870) invested at 7%	$493,807
Monthly shortfalls ($509,591 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,846,711
What you'd walk away with	$2,340,518
Building minus stocks	−$1,201,986

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $449,100 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	$1,138,532
If you put the same money in stocks
Cash to close ($64,870) invested at 7%	$493,807
Monthly shortfalls ($654,487 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,241,496
What you'd walk away with	$2,735,303
Building minus stocks	−$1,596,771

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $440,100 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	$1,115,715
If you put the same money in stocks
Cash to close ($63,570) invested at 7%	$483,911
Monthly shortfalls ($487,766 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,777,098
What you'd walk away with	$2,261,009
Building minus stocks	−$1,145,294

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $440,100 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	$1,115,715
If you put the same money in stocks
Cash to close ($63,570) invested at 7%	$483,911
Monthly shortfalls ($632,661 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,171,883
What you'd walk away with	$2,655,794
Building minus stocks	−$1,540,079

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $399,200 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	$1,138,532
If you put the same money in stocks
Cash to close ($114,770) invested at 7%	$873,659
Monthly shortfalls ($376,603 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,383,547
What you'd walk away with	$2,257,206
Building minus stocks	−$1,118,674

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $399,200 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	$1,138,532
If you put the same money in stocks
Cash to close ($114,770) invested at 7%	$873,659
Monthly shortfalls ($521,499 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,778,333
What you'd walk away with	$2,651,991
Building minus stocks	−$1,513,459

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $391,200 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	$1,115,715
If you put the same money in stocks
Cash to close ($112,470) invested at 7%	$856,150
Monthly shortfalls ($357,443 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,323,216
What you'd walk away with	$2,179,366
Building minus stocks	−$1,063,651

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $391,200 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	$1,115,715
If you put the same money in stocks
Cash to close ($112,470) invested at 7%	$856,150
Monthly shortfalls ($502,338 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,718,001
What you'd walk away with	$2,574,152
Building minus stocks	−$1,458,437

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $374,250 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	$1,138,532
If you put the same money in stocks
Cash to close ($139,720) invested at 7%	$1,063,584
Monthly shortfalls ($316,846 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,195,389
What you'd walk away with	$2,258,974
Building minus stocks	−$1,120,442

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $374,250 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	$1,138,532
If you put the same money in stocks
Cash to close ($139,720) invested at 7%	$1,063,584
Monthly shortfalls ($461,742 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,590,175
What you'd walk away with	$2,653,759
Building minus stocks	−$1,515,227

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $366,750 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	$1,115,715
If you put the same money in stocks
Cash to close ($136,920) invested at 7%	$1,042,270
Monthly shortfalls ($298,883 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,138,829
What you'd walk away with	$2,181,099
Building minus stocks	−$1,065,384

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $366,750 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	$1,115,715
If you put the same money in stocks
Cash to close ($136,920) invested at 7%	$1,042,270
Monthly shortfalls ($443,778 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,533,614
What you'd walk away with	$2,575,884
Building minus stocks	−$1,460,169

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 $289,207 above the price where cash flow breaks even ($209,793) at the default scenario. Based on: Derived: price $499,000 vs. break-even $209,793
low$288 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 3402924220030: special assessments (current) = $288.26

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)	$8,854
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,707
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 1903: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1903
Market value (2026)	$466,200
Property tax	$8,854
Special assessments	$288
Homestead	no
Last sale	2022-03-01 · $415,000

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 281 m away.

Crime in Whittier

1,136 incidents in the last 12 months (76 per 1,000 residents), +1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-14New at $499,000