Minneapolis › Whittier

2223 Pleasant Ave

Minneapolis, MN · Whittier · Find the listing ↗

Far off

Asking price: $615,400
Monthly cash flow: −$1,562
Estimated rent: $3,900/mo
Break-even price: $321,932

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

4 bed / 1.5 bath (est.)$1,950 $1,650–$2,250
4 bed / 1.5 bath (est.)$1,950 $1,650–$2,250

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: $615,400
Monthly cash flow: −$1,562
Cash to close: $141,542
Cap rate: 3.3%
Cash-on-cash: −13.2%
DSCR: 0.52×
GRM: 13.1
Price per unit: $307,700
Price that breaks even: $321,932
Rent that breaks even: $5,955/mo
Cash flow turns positive: year 27
Year 30: property vs stocks: $1.41M vs $2.25M

Monthly breakdown

Rent	$3,900
Vacancy (6%)	−$234
Collected	$3,666
Property tax Public record	−$764
Insurance Estimate	−$257
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$351
Capital reserve (9% of rent)	−$351
Net operating income	$1,713
Mortgage (principal + interest)	−$3,275
Cash flow	−$1,562
Principal paid down (equity, not cash)	$417

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 $1.41M, stocks $2.25M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $553,860 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	$1,404,113
If you put the same money in stocks
Cash to close ($80,002) invested at 7%	$608,996
Monthly shortfalls ($425,675 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,733,871
What you'd walk away with	$2,342,867
Building minus stocks	−$938,754

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $553,860 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	$1,404,113
If you put the same money in stocks
Cash to close ($80,002) invested at 7%	$608,996
Monthly shortfalls ($614,039 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,247,092
What you'd walk away with	$2,856,088
Building minus stocks	−$1,451,975

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $544,860 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	$1,381,297
If you put the same money in stocks
Cash to close ($78,702) invested at 7%	$599,100
Monthly shortfalls ($403,849 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,664,258
What you'd walk away with	$2,263,358
Building minus stocks	−$882,061

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $544,860 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	$1,381,297
If you put the same money in stocks
Cash to close ($78,702) invested at 7%	$599,100
Monthly shortfalls ($592,213 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,177,479
What you'd walk away with	$2,776,579
Building minus stocks	−$1,395,282

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $492,320 of principal by year 30	$0
Plus rental profits, invested at 7%$8,977 of profit by year 30, before investment growth	$9,574
What you'd walk away with	$1,413,687
If you put the same money in stocks
Cash to close ($141,542) invested at 7%	$1,077,454
Monthly shortfalls ($270,642 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,172,240
What you'd walk away with	$2,249,694
Building minus stocks	−$836,007

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $492,320 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	$1,404,113
If you put the same money in stocks
Cash to close ($141,542) invested at 7%	$1,077,454
Monthly shortfalls ($450,029 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,675,887
What you'd walk away with	$2,753,341
Building minus stocks	−$1,349,228

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $484,320 of principal by year 30	$0
Plus rental profits, invested at 7%$11,873 of profit by year 30, before investment growth	$12,857
What you'd walk away with	$1,394,154
If you put the same money in stocks
Cash to close ($139,242) invested at 7%	$1,059,946
Monthly shortfalls ($254,377 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,115,192
What you'd walk away with	$2,175,138
Building minus stocks	−$780,984

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $484,320 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	$1,381,297
If you put the same money in stocks
Cash to close ($139,242) invested at 7%	$1,059,946
Monthly shortfalls ($430,869 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,615,556
What you'd walk away with	$2,675,502
Building minus stocks	−$1,294,205

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $461,550 of principal by year 30	$0
Plus rental profits, invested at 7%$22,393 of profit by year 30, before investment growth	$25,342
What you'd walk away with	$1,429,455
If you put the same money in stocks
Cash to close ($172,312) invested at 7%	$1,311,683
Monthly shortfalls ($210,361 total by yr 30) investedThe money you'd have put into the building while it lost money	$955,959
What you'd walk away with	$2,267,642
Building minus stocks	−$838,187

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,493,737
Minus 6% selling cost	−$89,624
Minus loan still owedTenants' rent paid down all $461,550 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	$1,404,113
If you put the same money in stocks
Cash to close ($172,312) invested at 7%	$1,311,683
Monthly shortfalls ($376,333 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,443,839
What you'd walk away with	$2,755,521
Building minus stocks	−$1,351,408

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $454,050 of principal by year 30	$0
Plus rental profits, invested at 7%$26,584 of profit by year 30, before investment growth	$30,524
What you'd walk away with	$1,411,820
If you put the same money in stocks
Cash to close ($169,512) invested at 7%	$1,290,369
Monthly shortfalls ($196,590 total by yr 30) investedThe money you'd have put into the building while it lost money	$904,581
What you'd walk away with	$2,194,949
Building minus stocks	−$783,129

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,469,465
Minus 6% selling cost	−$88,168
Minus loan still owedTenants' rent paid down all $454,050 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	$1,381,297
If you put the same money in stocks
Cash to close ($169,512) invested at 7%	$1,290,369
Monthly shortfalls ($358,369 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,387,278
What you'd walk away with	$2,677,647
Building minus stocks	−$1,296,350

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 $293,468 above the price where cash flow breaks even ($321,932) at the default scenario. Based on: Derived: price $615,400 vs. break-even $321,932
low$721 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 3402924210026: special assessments (current) = $721.06

Opportunities

The seller bought for $70,000 in Dec 1992, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 3402924210026: last sale 1992-12-01, $70,000
Long time on market: room to negotiate. Based on: Listing data: 93 days on market

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)	$9,163
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,084
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 1908: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1908
Market value (2026)	$482,500
Property tax	$9,163
Special assessments	$721
Homestead	no
Last sale	1992-12-01 · $70,000

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 498 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

2026-06-29New at $615,400