2109 Aldrich Ave S

Minneapolis, MN · Lowry Hill East · View the listing ↗

Far off

42 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $1,149,000
Monthly cash flow: −$2,542
Estimated rent: $7,425/mo
Break-even price: $671,338

Adjust the numbers See the full breakdown

From the listing

Impressive and spacious modern living in the heart of the city with this exceptional multi-level tri-plex. Each unit offers a private entrance, 5 sizable bedrooms and 4 baths. The main living levels are bright and inviting, with open-concept designs filled with natural light. Expansive living and dining areas flow effortlessly into modern kitchens equipped with granite countertops, stainless steel appliances, and abundant cabinetry. Each unit is fully equipped with in-unit laundry, enhancing day-to-day convenience, separate mechanicals, and unbeatable walkability. This is a rare investment opportunity in a desirable location.

Listing courtesy of NRT-Minnesota (CB Burnet) (Laurie Allen). Description from Realtor.com, MLS #7153631. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $1,149,000
Cash to close: $264,270
Price per unit: $383,000
GRM: 12.9

Each month

Cash flow: −$2,542/mo
Cash-on-cash: −11.5%
Cap rate: 3.7%
DSCR: 0.58×

Break-even

Price that breaks even: $671,338
Rent that breaks even: $10,727/mo

Long run

Year 30: property vs stocks: $2.73M vs $3.69M
Cash flow turns positive: year 22

Monthly

Monthly breakdown

Rent	$7,425
Vacancy (6%)	−$446
Collected	$6,980
Property tax Public record	−$1,489
Insurance Estimate	−$340
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$668
Capital reserve (8% of rent)	−$594
Net operating income	$3,573
Mortgage (principal + interest)	−$6,115
Cash flow	−$2,542
Principal paid down (equity, not cash)	$778

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $1,034,100 of principal by year 30	$0
Plus rental profits, invested at 7%$23,789 of profit by year 30, before investment growth	$25,603
What you'd walk away with	$2,647,193
If you put the same money in stocks
Cash to close ($149,370) invested at 7%	$1,137,043
Monthly shortfalls ($595,783 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,663,578
What you'd walk away with	$3,800,620
Building minus stocks	−$1,153,427

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $1,034,100 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	$2,621,589
If you put the same money in stocks
Cash to close ($149,370) invested at 7%	$1,137,043
Monthly shortfalls ($930,611 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,615,068
What you'd walk away with	$4,752,111
Building minus stocks	−$2,130,522

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $1,025,100 of principal by year 30	$0
Plus rental profits, invested at 7%$27,382 of profit by year 30, before investment growth	$29,735
What you'd walk away with	$2,628,508
If you put the same money in stocks
Cash to close ($148,070) invested at 7%	$1,127,147
Monthly shortfalls ($577,550 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,598,097
What you'd walk away with	$3,725,243
Building minus stocks	−$1,096,735

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $1,025,100 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	$2,598,773
If you put the same money in stocks
Cash to close ($148,070) invested at 7%	$1,127,147
Monthly shortfalls ($908,785 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,545,455
What you'd walk away with	$4,672,602
Building minus stocks	−$2,073,829

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $919,200 of principal by year 30	$0
Plus rental profits, invested at 7%$86,726 of profit by year 30, before investment growth	$103,867
What you'd walk away with	$2,725,456
If you put the same money in stocks
Cash to close ($264,270) invested at 7%	$2,011,691
Monthly shortfalls ($352,501 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,675,358
What you'd walk away with	$3,687,049
Building minus stocks	−$961,593

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $919,200 of principal by year 30	$0
Plus rental profits, invested at 7%$753 of profit by year 30, before investment growth	$753
What you'd walk away with	$2,622,342
If you put the same money in stocks
Cash to close ($264,270) invested at 7%	$2,011,691
Monthly shortfalls ($625,145 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,549,338
What you'd walk away with	$4,561,028
Building minus stocks	−$1,938,686

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $911,200 of principal by year 30	$0
Plus rental profits, invested at 7%$92,474 of profit by year 30, before investment growth	$111,518
What you'd walk away with	$2,710,290
If you put the same money in stocks
Cash to close ($261,970) invested at 7%	$1,994,182
Monthly shortfalls ($339,088 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,622,677
What you'd walk away with	$3,616,860
Building minus stocks	−$906,570

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $911,200 of principal by year 30	$0
Plus rental profits, invested at 7%$1,392 of profit by year 30, before investment growth	$1,392
What you'd walk away with	$2,600,165
If you put the same money in stocks
Cash to close ($261,970) invested at 7%	$1,994,182
Monthly shortfalls ($606,623 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,489,645
What you'd walk away with	$4,483,828
Building minus stocks	−$1,883,663

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $861,750 of principal by year 30	$0
Plus rental profits, invested at 7%$134,169 of profit by year 30, before investment growth	$170,456
What you'd walk away with	$2,792,045
If you put the same money in stocks
Cash to close ($321,720) invested at 7%	$2,449,015
Monthly shortfalls ($262,347 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,308,693
What you'd walk away with	$3,757,708
Building minus stocks	−$965,663

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,788,925
Minus 6% selling cost	−$167,335
Minus loan still owedTenants' rent paid down all $861,750 of principal by year 30	$0
Plus rental profits, invested at 7%$10,565 of profit by year 30, before investment growth	$11,060
What you'd walk away with	$2,632,649
If you put the same money in stocks
Cash to close ($321,720) invested at 7%	$2,449,015
Monthly shortfalls ($497,359 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,126,391
What you'd walk away with	$4,575,405
Building minus stocks	−$1,942,756

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $854,250 of principal by year 30	$0
Plus rental profits, invested at 7%$141,355 of profit by year 30, before investment growth	$181,167
What you'd walk away with	$2,779,940
If you put the same money in stocks
Cash to close ($318,920) invested at 7%	$2,427,700
Monthly shortfalls ($251,569 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,262,844
What you'd walk away with	$3,690,544
Building minus stocks	−$910,604

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,764,652
Minus 6% selling cost	−$165,879
Minus loan still owedTenants' rent paid down all $854,250 of principal by year 30	$0
Plus rental profits, invested at 7%$12,930 of profit by year 30, before investment growth	$13,681
What you'd walk away with	$2,612,454
If you put the same money in stocks
Cash to close ($318,920) invested at 7%	$2,427,700
Monthly shortfalls ($481,761 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,072,451
What you'd walk away with	$4,500,152
Building minus stocks	−$1,887,698

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.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $2.73M, stocks $3.69M. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

5 bed estimate $2,475/mo · range $2,225–$2,650 · 22 rentals within 2.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1924 Colfax Ave S, Minneapolis	$2,550	4 / 2	1,574	0.2 mi	2026-07-08	Apartment
2449 Lyndale Ave S, Minneapolis	$2,395	4 / 3	1,804	0.3 mi	2026-06-02	Apartment
2529 Pleasant Ave Unit 2, Minneapolis	$2,500	4 / 2	2,000	0.5 mi	2026-08-25	Apartment
220 E 27th St, Minneapolis	$2,600	4 / 1	2,516	0.9 mi	2026-04-04	Apartment
3448 Girard Ave S, Minneapolis	$2,595	4 / 2	2,200	1.6 mi	2026-08-28	Apartment
2540 12th Ave S Apt 2, Minneapolis	$2,325	5 / 2	1,700	1.6 mi	—	Apartment
2820 12th Ave S, Minneapolis	$2,500	11 / 5	2,880	1.7 mi	2026-08-06	Duplex triplex
2820 12th Ave S Apt 1, Minneapolis	$2,500	4 / 2	1,440	1.7 mi	2026-08-13	Duplex triplex
1030 Knox Ave N, Minneapolis	$2,450	5 / 1.5	1,500	2.0 mi	2026-01-31	Apartment
1030 Knox Ave N, Minneapolis	$2,099	4 / 1	900	2.0 mi	2026-01-31	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumAsking is $477,662 above the price where cash flow breaks even ($671,338) at the default scenario. Based on: Derived: price $1,149,000 vs. break-even $671,338

Opportunities

The seller bought for $238,782 in Jan 2019, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 3302924110031: last sale 2019-01-01, $238,782

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)	$17,868
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,081
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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. 15 bedrooms: +1 pt repairs for wear	9% / 8%

Status history

2026-10-01New at $1,149,000

County record Public record

Recorded as	triplex
Living units	3
Year built	2020
Market value (2026)	$940,900
Property tax	$17,868
Special assessments	none
Homestead	no
Last sale	2019-01-01 · $238,782

Source: Hennepin County parcel records.

City rental license

CHOWNEXMPT: 3 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 94;MN 55, about 380 m away.

Crime in Lowry Hill East

649 incidents in the last 12 months (74 per 1,000 residents), −3% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).