2533 Polk St NE

Minneapolis, MN · Audubon Park · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $440,000
Monthly cash flow: −$882
Estimated rent: $3,300/mo
Break-even price: $274,261

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
3 bed / 1 bath (est.)$1,650 $1,400–$1,900

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: $440,000
Monthly cash flow: −$882
Cash to close: $101,200
Cap rate: 4.0%
Cash-on-cash: −10.5%
DSCR: 0.62×
GRM: 11.1
Price per unit: $220,000
Price that breaks even: $274,261
Rent that breaks even: $4,446/mo
Cash flow turns positive: year 20
Year 30: property vs stocks: $1.06M vs $1.31M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$628
Insurance Estimate	−$223
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,460
Mortgage (principal + interest)	−$2,342
Cash flow	−$882
Principal paid down (equity, not cash)	$298

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 $1.06M, stocks $1.31M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $396,000 of principal by year 30	$0
Plus rental profits, invested at 7%$17,187 of profit by year 30, before investment growth	$19,278
What you'd walk away with	$1,023,194
If you put the same money in stocks
Cash to close ($57,200) invested at 7%	$435,421
Monthly shortfalls ($196,669 total by yr 30) investedThe money you'd have put into the building while it lost money	$911,217
What you'd walk away with	$1,346,638
Building minus stocks	−$323,444

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $396,000 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	$1,003,916
If you put the same money in stocks
Cash to close ($57,200) invested at 7%	$435,421
Monthly shortfalls ($338,867 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,326,202
What you'd walk away with	$1,761,623
Building minus stocks	−$757,707

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $387,000 of principal by year 30	$0
Plus rental profits, invested at 7%$22,155 of profit by year 30, before investment growth	$25,404
What you'd walk away with	$1,006,503
If you put the same money in stocks
Cash to close ($55,900) invested at 7%	$425,525
Monthly shortfalls ($179,811 total by yr 30) investedThe money you'd have put into the building while it lost money	$847,729
What you'd walk away with	$1,273,255
Building minus stocks	−$266,752

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $387,000 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	$981,099
If you put the same money in stocks
Cash to close ($55,900) invested at 7%	$425,525
Monthly shortfalls ($317,041 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,256,589
What you'd walk away with	$1,682,114
Building minus stocks	−$701,015

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $352,000 of principal by year 30	$0
Plus rental profits, invested at 7%$47,854 of profit by year 30, before investment growth	$60,077
What you'd walk away with	$1,063,993
If you put the same money in stocks
Cash to close ($101,200) invested at 7%	$770,360
Monthly shortfalls ($110,072 total by yr 30) investedThe money you'd have put into the building while it lost money	$543,615
What you'd walk away with	$1,313,975
Building minus stocks	−$249,982

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $352,000 of principal by year 30	$0
Plus rental profits, invested at 7%$672 of profit by year 30, before investment growth	$672
What you'd walk away with	$1,004,588
If you put the same money in stocks
Cash to close ($101,200) invested at 7%	$770,360
Monthly shortfalls ($222,275 total by yr 30) investedThe money you'd have put into the building while it lost money	$918,473
What you'd walk away with	$1,688,834
Building minus stocks	−$684,246

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $344,000 of principal by year 30	$0
Plus rental profits, invested at 7%$55,225 of profit by year 30, before investment growth	$70,885
What you'd walk away with	$1,051,985
If you put the same money in stocks
Cash to close ($98,900) invested at 7%	$752,852
Monthly shortfalls ($98,283 total by yr 30) investedThe money you'd have put into the building while it lost money	$494,092
What you'd walk away with	$1,246,944
Building minus stocks	−$194,959

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $344,000 of principal by year 30	$0
Plus rental profits, invested at 7%$1,948 of profit by year 30, before investment growth	$1,993
What you'd walk away with	$983,092
If you put the same money in stocks
Cash to close ($98,900) invested at 7%	$752,852
Monthly shortfalls ($204,391 total by yr 30) investedThe money you'd have put into the building while it lost money	$859,463
What you'd walk away with	$1,612,315
Building minus stocks	−$629,223

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $330,000 of principal by year 30	$0
Plus rental profits, invested at 7%$69,490 of profit by year 30, before investment growth	$92,812
What you'd walk away with	$1,096,728
If you put the same money in stocks
Cash to close ($123,200) invested at 7%	$937,830
Monthly shortfalls ($79,016 total by yr 30) investedThe money you'd have put into the building while it lost money	$410,439
What you'd walk away with	$1,348,269
Building minus stocks	−$251,541

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,995
Minus 6% selling cost	−$64,080
Minus loan still owedTenants' rent paid down all $330,000 of principal by year 30	$0
Plus rental profits, invested at 7%$5,731 of profit by year 30, before investment growth	$6,114
What you'd walk away with	$1,010,030
If you put the same money in stocks
Cash to close ($123,200) invested at 7%	$937,830
Monthly shortfalls ($174,642 total by yr 30) investedThe money you'd have put into the building while it lost money	$758,005
What you'd walk away with	$1,695,834
Building minus stocks	−$685,804

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $322,500 of principal by year 30	$0
Plus rental profits, invested at 7%$77,893 of profit by year 30, before investment growth	$106,367
What you'd walk away with	$1,087,466
If you put the same money in stocks
Cash to close ($120,400) invested at 7%	$916,516
Monthly shortfalls ($69,456 total by yr 30) investedThe money you'd have put into the building while it lost money	$367,433
What you'd walk away with	$1,283,949
Building minus stocks	−$196,483

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,723
Minus 6% selling cost	−$62,623
Minus loan still owedTenants' rent paid down all $322,500 of principal by year 30	$0
Plus rental profits, invested at 7%$8,544 of profit by year 30, before investment growth	$9,321
What you'd walk away with	$990,420
If you put the same money in stocks
Cash to close ($120,400) invested at 7%	$916,516
Monthly shortfalls ($159,492 total by yr 30) investedThe money you'd have put into the building while it lost money	$704,651
What you'd walk away with	$1,621,166
Building minus stocks	−$630,746

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 $165,739 above the price where cash flow breaks even ($274,261) at the default scenario. Based on: Derived: price $440,000 vs. break-even $274,261

Opportunities

The seller bought for $218,000 in May 2004, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1202924230156: last sale 2004-05-01, $218,000

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)	$7,534
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,681
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)	$396,700
Property tax	$7,534
Special assessments	none
Homestead	no
Last sale	2004-05-01 · $218,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1552 m away.

Crime in Audubon Park

161 incidents in the last 12 months (30 per 1,000 residents), +17% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-29New at $440,000