Minneapolis › Whittier

2305 Garfield Ave

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

Far off

Asking price: $374,900
Monthly cash flow: −$960
Estimated rent: $2,700/mo
Break-even price: $194,587

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

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: $374,900
Monthly cash flow: −$960
Cash to close: $86,227
Cap rate: 3.3%
Cash-on-cash: −13.4%
DSCR: 0.52×
GRM: 11.6
Price per unit: $187,450
Price that breaks even: $194,587
Rent that breaks even: $3,946/mo
Cash flow turns positive: year 29
Year 30: property vs stocks: $857K vs $1.40M

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$612
Insurance Estimate	−$201
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (9% of rent)	−$243
Net operating income	$1,036
Mortgage (principal + interest)	−$1,995
Cash flow	−$960
Principal paid down (equity, not cash)	$254

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 $857K, stocks $1.40M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 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	$855,382
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($277,650 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,094,886
What you'd walk away with	$1,465,885
Building minus stocks	−$610,503

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $337,410 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	$855,382
If you put the same money in stocks
Cash to close ($48,737) invested at 7%	$370,998
Monthly shortfalls ($408,056 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,450,193
What you'd walk away with	$1,821,191
Building minus stocks	−$965,809

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $328,410 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	$832,566
If you put the same money in stocks
Cash to close ($47,437) invested at 7%	$361,103
Monthly shortfalls ($255,825 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,025,273
What you'd walk away with	$1,386,376
Building minus stocks	−$553,810

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $328,410 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	$832,566
If you put the same money in stocks
Cash to close ($47,437) invested at 7%	$361,103
Monthly shortfalls ($386,231 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,380,580
What you'd walk away with	$1,741,682
Building minus stocks	−$909,116

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 of principal by year 30	$0
Plus rental profits, invested at 7%$1,225 of profit by year 30, before investment growth	$1,248
What you'd walk away with	$856,630
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($178,961 total by yr 30) investedThe money you'd have put into the building while it lost money	$748,158
What you'd walk away with	$1,404,540
Building minus stocks	−$547,910

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $299,920 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	$855,382
If you put the same money in stocks
Cash to close ($86,227) invested at 7%	$656,382
Monthly shortfalls ($308,142 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,102,217
What you'd walk away with	$1,758,599
Building minus stocks	−$903,217

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $291,920 of principal by year 30	$0
Plus rental profits, invested at 7%$2,918 of profit by year 30, before investment growth	$3,046
What you'd walk away with	$835,612
If you put the same money in stocks
Cash to close ($83,927) invested at 7%	$638,874
Monthly shortfalls ($161,494 total by yr 30) investedThe money you'd have put into the building while it lost money	$689,625
What you'd walk away with	$1,328,499
Building minus stocks	−$492,887

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $291,920 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	$832,566
If you put the same money in stocks
Cash to close ($83,927) invested at 7%	$638,874
Monthly shortfalls ($288,982 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,041,886
What you'd walk away with	$1,680,759
Building minus stocks	−$848,193

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 of principal by year 30	$0
Plus rental profits, invested at 7%$6,423 of profit by year 30, before investment growth	$6,962
What you'd walk away with	$862,344
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($139,263 total by yr 30) investedThe money you'd have put into the building while it lost money	$612,509
What you'd walk away with	$1,411,582
Building minus stocks	−$549,238

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$909,981
Minus 6% selling cost	−$54,599
Minus loan still owedTenants' rent paid down all $281,175 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	$855,382
If you put the same money in stocks
Cash to close ($104,972) invested at 7%	$799,074
Monthly shortfalls ($263,246 total by yr 30) investedThe money you'd have put into the building while it lost money	$960,853
What you'd walk away with	$1,759,927
Building minus stocks	−$904,545

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $273,675 of principal by year 30	$0
Plus rental profits, invested at 7%$9,695 of profit by year 30, before investment growth	$10,795
What you'd walk away with	$843,361
If you put the same money in stocks
Cash to close ($102,172) invested at 7%	$777,759
Monthly shortfalls ($124,572 total by yr 30) investedThe money you'd have put into the building while it lost money	$559,781
What you'd walk away with	$1,337,540
Building minus stocks	−$494,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$885,708
Minus 6% selling cost	−$53,142
Minus loan still owedTenants' rent paid down all $273,675 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	$832,566
If you put the same money in stocks
Cash to close ($102,172) invested at 7%	$777,759
Monthly shortfalls ($245,283 total by yr 30) investedThe money you'd have put into the building while it lost money	$904,293
What you'd walk away with	$1,682,052
Building minus stocks	−$849,486

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 $180,313 above the price where cash flow breaks even ($194,587) at the default scenario. Based on: Derived: price $374,900 vs. break-even $194,587
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 3402924220172: special assessments (current) = $287.76

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 127 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)	$7,344
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,416
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 1905: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1905
Market value (2026)	$386,700
Property tax	$7,344
Special assessments	$288
Homestead	no
Last sale	2020-12-01 · $375,000

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 515 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

2026-05-28Price cut at $374,900 (was $399,900) · from listing history
2026-05-28New at $374,900