Minneapolis › Whittier

2541 3rd Ave S

Minneapolis, MN · Whittier · Find the listing ↗

Far off

Asking price: $499,900
Monthly cash flow: −$1,337
Estimated rent: $3,300/mo
Break-even price: $248,725

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 / 1.5 bath (est.)$1,650 $1,400–$1,900
3 bed / 1.5 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: $499,900
Monthly cash flow: −$1,337
Cash to close: $114,977
Cap rate: 3.2%
Cash-on-cash: −14.0%
DSCR: 0.50×
GRM: 12.6
Price per unit: $249,950
Price that breaks even: $248,725
Rent that breaks even: $5,036/mo
Cash flow turns positive: year 30
Year 30: property vs stocks: $1.14M vs $1.94M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$747
Insurance Estimate	−$240
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	$1,324
Mortgage (principal + interest)	−$2,661
Cash flow	−$1,337
Principal paid down (equity, not cash)	$339

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 $1.14M, stocks $1.94M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $449,910 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	$1,140,585
If you put the same money in stocks
Cash to close ($64,987) invested at 7%	$494,698
Monthly shortfalls ($394,412 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,532,848
What you'd walk away with	$2,027,546
Building minus stocks	−$886,961

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $449,910 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	$1,140,585
If you put the same money in stocks
Cash to close ($64,987) invested at 7%	$494,698
Monthly shortfalls ($553,798 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,967,112
What you'd walk away with	$2,461,810
Building minus stocks	−$1,321,225

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 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	$1,117,769
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($372,587 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,463,235
What you'd walk away with	$1,948,037
Building minus stocks	−$830,268

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 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	$1,117,769
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($531,972 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,897,499
What you'd walk away with	$2,382,301
Building minus stocks	−$1,264,532

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $399,920 of principal by year 30	$0
Plus rental profits, invested at 7%$318 of profit by year 30, before investment growth	$318
What you'd walk away with	$1,140,903
If you put the same money in stocks
Cash to close ($114,977) invested at 7%	$875,234
Monthly shortfalls ($261,503 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,069,167
What you'd walk away with	$1,944,401
Building minus stocks	−$803,498

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $399,920 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	$1,140,585
If you put the same money in stocks
Cash to close ($114,977) invested at 7%	$875,234
Monthly shortfalls ($420,570 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,503,113
What you'd walk away with	$2,378,347
Building minus stocks	−$1,237,762

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 of principal by year 30	$0
Plus rental profits, invested at 7%$1,160 of profit by year 30, before investment growth	$1,174
What you'd walk away with	$1,118,943
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($243,184 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,009,692
What you'd walk away with	$1,867,418
Building minus stocks	−$748,475

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 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	$1,117,769
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($401,409 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,442,782
What you'd walk away with	$2,300,508
Building minus stocks	−$1,182,739

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $374,925 of principal by year 30	$0
Plus rental profits, invested at 7%$4,796 of profit by year 30, before investment growth	$5,047
What you'd walk away with	$1,145,632
If you put the same money in stocks
Cash to close ($139,972) invested at 7%	$1,065,503
Monthly shortfalls ($206,115 total by yr 30) investedThe money you'd have put into the building while it lost money	$885,399
What you'd walk away with	$1,950,901
Building minus stocks	−$805,269

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $374,925 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	$1,140,585
If you put the same money in stocks
Cash to close ($139,972) invested at 7%	$1,065,503
Monthly shortfalls ($360,705 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,314,616
What you'd walk away with	$2,380,118
Building minus stocks	−$1,239,533

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 of principal by year 30	$0
Plus rental profits, invested at 7%$7,191 of profit by year 30, before investment growth	$7,706
What you'd walk away with	$1,125,475
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($190,547 total by yr 30) investedThe money you'd have put into the building while it lost money	$831,497
What you'd walk away with	$1,875,685
Building minus stocks	−$750,210

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 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	$1,117,769
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($342,741 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,258,055
What you'd walk away with	$2,302,243
Building minus stocks	−$1,184,474

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

mediumAbout 141 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 141 m
mediumAsking is $251,175 above the price where cash flow breaks even ($248,725) at the default scenario. Based on: Derived: price $499,900 vs. break-even $248,725

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 Public recordHennepin County record, current payable year (non-homestead)	$8,970
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,877
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)	$472,300
Property tax	$8,970
Special assessments	none
Homestead	no
Last sale	2022-05-01 · $513,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 141 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

2026-09-22Price cut at $499,900 (was $589,000) · from listing history
2026-09-22New at $499,900