Minneapolis › Whittier

2542 Garfield Ave

Minneapolis, MN · Whittier · Find the listing ↗

Far off

Asking price: $360,000
Monthly cash flow: −$1,059
Estimated rent: $2,400/mo
Break-even price: $160,954

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
1 bed / 1 bath (est.)$1,050 $900–$1,200

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: $360,000
Monthly cash flow: −$1,059
Cash to close: $82,800
Cap rate: 2.9%
Cash-on-cash: −15.4%
DSCR: 0.45×
GRM: 12.5
Price per unit: $180,000
Price that breaks even: $160,954
Rent that breaks even: $3,776/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $821K vs $1.56M

Monthly breakdown

Rent	$2,400
Vacancy (6%)	−$144
Collected	$2,256
Property tax Public record	−$546
Insurance Estimate	−$216
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$192
Capital reserve (9% of rent)	−$216
Net operating income	$857
Mortgage (principal + interest)	−$1,916
Cash flow	−$1,059
Principal paid down (equity, not cash)	$244

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 $821K, stocks $1.56M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $324,000 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	$821,386
If you put the same money in stocks
Cash to close ($46,800) invested at 7%	$356,254
Monthly shortfalls ($344,801 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,264,821
What you'd walk away with	$1,621,074
Building minus stocks	−$799,688

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $324,000 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	$821,386
If you put the same money in stocks
Cash to close ($46,800) invested at 7%	$356,254
Monthly shortfalls ($460,718 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,580,649
What you'd walk away with	$1,936,902
Building minus stocks	−$1,115,516

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 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	$798,569
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($322,975 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,195,208
What you'd walk away with	$1,541,565
Building minus stocks	−$742,996

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 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	$798,569
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($438,892 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,511,036
What you'd walk away with	$1,857,393
Building minus stocks	−$1,058,824

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $288,000 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	$821,386
If you put the same money in stocks
Cash to close ($82,800) invested at 7%	$630,295
Monthly shortfalls ($248,858 total by yr 30) investedThe money you'd have put into the building while it lost money	$930,674
What you'd walk away with	$1,560,969
Building minus stocks	−$739,583

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $288,000 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	$821,386
If you put the same money in stocks
Cash to close ($82,800) invested at 7%	$630,295
Monthly shortfalls ($364,774 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,246,503
What you'd walk away with	$1,876,797
Building minus stocks	−$1,055,411

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 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	$798,569
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($229,697 total by yr 30) investedThe money you'd have put into the building while it lost money	$870,343
What you'd walk away with	$1,483,130
Building minus stocks	−$684,561

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 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	$798,569
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($345,614 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,186,171
What you'd walk away with	$1,798,958
Building minus stocks	−$1,000,389

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $270,000 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	$821,386
If you put the same money in stocks
Cash to close ($100,800) invested at 7%	$767,315
Monthly shortfalls ($205,746 total by yr 30) investedThe money you'd have put into the building while it lost money	$794,929
What you'd walk away with	$1,562,244
Building minus stocks	−$740,858

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$873,814
Minus 6% selling cost	−$52,429
Minus loan still owedTenants' rent paid down all $270,000 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	$821,386
If you put the same money in stocks
Cash to close ($100,800) invested at 7%	$767,315
Monthly shortfalls ($321,663 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,110,757
What you'd walk away with	$1,878,073
Building minus stocks	−$1,056,687

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 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	$798,569
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($187,783 total by yr 30) investedThe money you'd have put into the building while it lost money	$738,369
What you'd walk away with	$1,484,370
Building minus stocks	−$685,801

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 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	$798,569
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($303,700 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,054,197
What you'd walk away with	$1,800,198
Building minus stocks	−$1,001,629

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 $199,046 above the price where cash flow breaks even ($160,954) at the default scenario. Based on: Derived: price $360,000 vs. break-even $160,954
low$513 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 3402924230056: special assessments (current) = $513.40

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)	$6,548
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,588
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 1918: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$344,800
Property tax	$6,548
Special assessments	$513
Homestead	no
Last sale	2013-08-01 · $195,000

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 939 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

2026-09-16New at $360,000