Minneapolis › Kenwood

2121 Penn Ave S

Minneapolis, MN · Kenwood · Listing office ↗ · Find the listing ↗

Far off

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price: $1,229,000
Monthly cash flow: −$4,053
Estimated rent: $6,150/mo
Break-even price: $467,463

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
2 bed / 1 bath (est.)$1,350 $1,150–$1,550
1 bed / 1 bath (est.)$1,050 $900–$1,200
1 bed / 1 bath (est.)$1,050 $900–$1,200

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: $1,229,000
Monthly cash flow: −$4,053
Cash to close: $282,670
Cap rate: 2.4%
Cash-on-cash: −17.2%
DSCR: 0.38×
GRM: 16.7
Price per unit: $245,800
Price that breaks even: $467,463
Rent that breaks even: $11,483/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $2.80M vs $5.90M

Monthly breakdown

Rent	$6,150
Vacancy (6%)	−$369
Collected	$5,781
Property tax Public record	−$1,167
Insurance Estimate	−$534
Water, sewer, trash Estimate	−$425
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$554
Capital reserve (9% of rent)	−$554
Net operating income	$2,488
Mortgage (principal + interest)	−$6,541
Cash flow	−$4,053
Principal paid down (equity, not cash)	$832

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 $2.80M, stocks $5.90M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $1,106,100 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	$2,804,119
If you put the same money in stocks
Cash to close ($159,770) invested at 7%	$1,216,210
Monthly shortfalls ($1,368,125 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,886,613
What you'd walk away with	$6,102,823
Building minus stocks	−$3,298,704

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $1,106,100 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	$2,804,119
If you put the same money in stocks
Cash to close ($159,770) invested at 7%	$1,216,210
Monthly shortfalls ($1,665,162 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,695,923
What you'd walk away with	$6,912,133
Building minus stocks	−$4,108,014

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $1,097,100 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	$2,781,303
If you put the same money in stocks
Cash to close ($158,470) invested at 7%	$1,206,314
Monthly shortfalls ($1,346,300 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,817,000
What you'd walk away with	$6,023,314
Building minus stocks	−$3,242,011

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $1,097,100 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	$2,781,303
If you put the same money in stocks
Cash to close ($158,470) invested at 7%	$1,206,314
Monthly shortfalls ($1,643,336 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,626,310
What you'd walk away with	$6,832,624
Building minus stocks	−$4,051,321

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $983,200 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	$2,804,119
If you put the same money in stocks
Cash to close ($282,670) invested at 7%	$2,151,756
Monthly shortfalls ($1,040,586 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,745,874
What you'd walk away with	$5,897,631
Building minus stocks	−$3,093,512

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $983,200 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	$2,804,119
If you put the same money in stocks
Cash to close ($282,670) invested at 7%	$2,151,756
Monthly shortfalls ($1,337,622 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,555,184
What you'd walk away with	$6,706,941
Building minus stocks	−$3,902,822

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $975,200 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	$2,781,303
If you put the same money in stocks
Cash to close ($280,370) invested at 7%	$2,134,248
Monthly shortfalls ($1,021,425 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,685,543
What you'd walk away with	$5,819,791
Building minus stocks	−$3,038,488

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $975,200 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	$2,781,303
If you put the same money in stocks
Cash to close ($280,370) invested at 7%	$2,134,248
Monthly shortfalls ($1,318,461 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,494,853
What you'd walk away with	$6,629,101
Building minus stocks	−$3,847,798

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $921,750 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	$2,804,119
If you put the same money in stocks
Cash to close ($344,120) invested at 7%	$2,619,529
Monthly shortfalls ($893,408 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,282,455
What you'd walk away with	$5,901,985
Building minus stocks	−$3,097,866

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,983,106
Minus 6% selling cost	−$178,986
Minus loan still owedTenants' rent paid down all $921,750 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	$2,804,119
If you put the same money in stocks
Cash to close ($344,120) invested at 7%	$2,619,529
Monthly shortfalls ($1,190,444 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,091,765
What you'd walk away with	$6,711,295
Building minus stocks	−$3,907,176

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $914,250 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	$2,781,303
If you put the same money in stocks
Cash to close ($341,320) invested at 7%	$2,598,215
Monthly shortfalls ($875,445 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,225,895
What you'd walk away with	$5,824,110
Building minus stocks	−$3,042,807

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,958,833
Minus 6% selling cost	−$177,530
Minus loan still owedTenants' rent paid down all $914,250 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	$2,781,303
If you put the same money in stocks
Cash to close ($341,320) invested at 7%	$2,598,215
Monthly shortfalls ($1,172,481 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,035,205
What you'd walk away with	$6,633,420
Building minus stocks	−$3,852,117

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

highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 2121 PENN AVE S, units=4
mediumFlat roof per the city assessor on a stucco building: get its age and a moisture inspection. Public record: Hennepin County parcel 3302924220048: roof=Flat, exterior=STUCCO
mediumAsking is $761,537 above the price where cash flow breaks even ($467,463) at the default scenario. Based on: Derived: price $1,229,000 vs. break-even $467,463

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 144 days on market, 1 price cuts

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)	$13,999
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$6,413
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$425
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 1915: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	apartment 4 or 5 unit
Living units	5
Year built	1915
Market value (2026)	$740,000
Property tax	$13,999
Special assessments	none
Homestead	no
Last sale	—

Source: Hennepin County parcel records.

City rental license

CHOWNEXMPT: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 394, about 980 m away.

Crime in Kenwood

32 incidents in the last 12 months (22 per 1,000 residents), −32% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-05-11Price cut at $1,229,000 (was $1,295,000) · from listing history
2026-05-11New at $1,229,000