2218 Irving Ave N

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

Asking price: $279,900
Monthly cash flow: −$108
Estimated rent: $3,000/mo
Break-even price: $259,691

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: $279,900
Monthly cash flow: −$108
Cash to close: $64,377
Cap rate: 5.9%
Cash-on-cash: −2.0%
DSCR: 0.93×
GRM: 7.8
Price per unit: $139,950
Price that breaks even: $259,691
Rent that breaks even: $3,140/mo
Cash flow turns positive: year 4
Year 30: property vs stocks: $1.03M vs $507K

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Estimate	−$490
Insurance Estimate	−$208
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	$1,382
Mortgage (principal + interest)	−$1,490
Cash flow	−$108
Principal paid down (equity, not cash)	$190

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 $1.03M, stocks $507K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $251,910 of principal by year 30	$0
Plus rental profits, invested at 7%$155,864 of profit by year 30, before investment growth	$258,671
What you'd walk away with	$897,299
If you put the same money in stocks
Cash to close ($36,387) invested at 7%	$276,987
Monthly shortfalls ($22,734 total by yr 30) investedThe money you'd have put into the building while it lost money	$142,599
What you'd walk away with	$419,586
Building minus stocks	$477,713

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $251,910 of principal by year 30	$0
Plus rental profits, invested at 7%$53,705 of profit by year 30, before investment growth	$72,187
What you'd walk away with	$710,814
If you put the same money in stocks
Cash to close ($36,387) invested at 7%	$276,987
Monthly shortfalls ($65,471 total by yr 30) investedThe money you'd have put into the building while it lost money	$350,900
What you'd walk away with	$627,887
Building minus stocks	$82,927

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $242,910 of principal by year 30	$0
Plus rental profits, invested at 7%$172,225 of profit by year 30, before investment growth	$296,342
What you'd walk away with	$912,153
If you put the same money in stocks
Cash to close ($35,087) invested at 7%	$267,091
Monthly shortfalls ($17,269 total by yr 30) investedThe money you'd have put into the building while it lost money	$110,656
What you'd walk away with	$377,748
Building minus stocks	$534,405

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $242,910 of principal by year 30	$0
Plus rental profits, invested at 7%$64,160 of profit by year 30, before investment growth	$89,411
What you'd walk away with	$705,222
If you put the same money in stocks
Cash to close ($35,087) invested at 7%	$267,091
Monthly shortfalls ($54,100 total by yr 30) investedThe money you'd have put into the building while it lost money	$298,511
What you'd walk away with	$565,602
Building minus stocks	$139,620

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $223,920 of principal by year 30	$0
Plus rental profits, invested at 7%$210,261 of profit by year 30, before investment growth	$393,156
What you'd walk away with	$1,031,783
If you put the same money in stocks
Cash to close ($64,377) invested at 7%	$490,054
Monthly shortfalls ($2,535 total by yr 30) investedThe money you'd have put into the building while it lost money	$17,285
What you'd walk away with	$507,339
Building minus stocks	$524,444

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $223,920 of principal by year 30	$0
Plus rental profits, invested at 7%$89,772 of profit by year 30, before investment growth	$135,818
What you'd walk away with	$774,445
If you put the same money in stocks
Cash to close ($64,377) invested at 7%	$490,054
Monthly shortfalls ($26,942 total by yr 30) investedThe money you'd have put into the building while it lost money	$154,732
What you'd walk away with	$644,786
Building minus stocks	$129,659

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $215,920 of principal by year 30	$0
Plus rental profits, invested at 7%$227,749 of profit by year 30, before investment growth	$442,238
What you'd walk away with	$1,058,050
If you put the same money in stocks
Cash to close ($62,077) invested at 7%	$472,546
Monthly shortfalls ($862 total by yr 30) investedThe money you'd have put into the building while it lost money	$6,036
What you'd walk away with	$478,582
Building minus stocks	$579,468

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $215,920 of principal by year 30	$0
Plus rental profits, invested at 7%$102,124 of profit by year 30, before investment growth	$160,475
What you'd walk away with	$776,286
If you put the same money in stocks
Cash to close ($62,077) invested at 7%	$472,546
Monthly shortfalls ($20,133 total by yr 30) investedThe money you'd have put into the building while it lost money	$119,058
What you'd walk away with	$591,604
Building minus stocks	$184,682

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $209,925 of principal by year 30	$0
Plus rental profits, invested at 7%$241,418 of profit by year 30, before investment growth	$482,647
What you'd walk away with	$1,121,274
If you put the same money in stocks
Cash to close ($78,372) invested at 7%	$596,588
Monthly shortfalls ($173 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,234
What you'd walk away with	$597,822
Building minus stocks	$523,452

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,391
Minus 6% selling cost	−$40,763
Minus loan still owedTenants' rent paid down all $209,925 of principal by year 30	$0
Plus rental profits, invested at 7%$111,957 of profit by year 30, before investment growth	$181,105
What you'd walk away with	$819,732
If you put the same money in stocks
Cash to close ($78,372) invested at 7%	$596,588
Monthly shortfalls ($15,608 total by yr 30) investedThe money you'd have put into the building while it lost money	$94,477
What you'd walk away with	$691,065
Building minus stocks	$128,667

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $202,425 of principal by year 30	$0
Plus rental profits, invested at 7%$259,208 of profit by year 30, before investment growth	$537,974
What you'd walk away with	$1,153,785
If you put the same money in stocks
Cash to close ($75,572) invested at 7%	$575,273
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	$575,273
Building minus stocks	$578,512

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$655,118
Minus 6% selling cost	−$39,307
Minus loan still owedTenants' rent paid down all $202,425 of principal by year 30	$0
Plus rental profits, invested at 7%$124,986 of profit by year 30, before investment growth	$209,859
What you'd walk away with	$825,670
If you put the same money in stocks
Cash to close ($75,572) invested at 7%	$575,273
Monthly shortfalls ($10,674 total by yr 30) investedThe money you'd have put into the building while it lost money	$66,671
What you'd walk away with	$641,944
Building minus stocks	$183,726

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

medium$9,164 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 1602924240014: special assessments (current) = $9,163.75
mediumBought for $95,000 in Oct 2025; asking is 195% more 12 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 1602924240014: last sale 2025-10-01, $95,000

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.	$5,878
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,496
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)	$233,800
Property tax	$3,261
Special assessments	$9,164
Homestead	no
Last sale	2025-10-01 · $95,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

None, about 1225 m away.

Crime in Jordan

596 incidents in the last 12 months (70 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

2026-07-27New at $279,900