2834 15th Ave S

Minneapolis, MN · Midtown Phillips · Find the listing ↗

Asking price: $484,900
Monthly cash flow: −$425
Estimated rent: $4,650/mo
Break-even price: $405,089

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
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: $484,900
Monthly cash flow: −$425
Cash to close: $111,527
Cap rate: 5.3%
Cash-on-cash: −4.6%
DSCR: 0.84×
GRM: 8.7
Price per unit: $161,633
Price that breaks even: $405,089
Rent that breaks even: $5,209/mo
Cash flow turns positive: year 8
Year 30: property vs stocks: $1.54M vs $977K

Monthly breakdown

Rent	$4,650
Vacancy (6%)	−$279
Collected	$4,371
Property tax Public record	−$750
Insurance Estimate	−$313
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$418
Capital reserve (9% of rent)	−$418
Net operating income	$2,156
Mortgage (principal + interest)	−$2,581
Cash flow	−$425
Principal paid down (equity, not cash)	$328

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 $1.54M, stocks $977K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $436,410 of principal by year 30	$0
Plus rental profits, invested at 7%$176,427 of profit by year 30, before investment growth	$264,268
What you'd walk away with	$1,370,628
If you put the same money in stocks
Cash to close ($63,037) invested at 7%	$479,854
Monthly shortfalls ($70,782 total by yr 30) investedThe money you'd have put into the building while it lost money	$412,963
What you'd walk away with	$892,816
Building minus stocks	$477,812

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $436,410 of principal by year 30	$0
Plus rental profits, invested at 7%$45,919 of profit by year 30, before investment growth	$55,978
What you'd walk away with	$1,162,338
If you put the same money in stocks
Cash to close ($63,037) invested at 7%	$479,854
Monthly shortfalls ($164,862 total by yr 30) investedThe money you'd have put into the building while it lost money	$816,590
What you'd walk away with	$1,296,444
Building minus stocks	−$134,106

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $427,410 of principal by year 30	$0
Plus rental profits, invested at 7%$189,799 of profit by year 30, before investment growth	$290,179
What you'd walk away with	$1,373,724
If you put the same money in stocks
Cash to close ($61,737) invested at 7%	$469,958
Monthly shortfalls ($62,328 total by yr 30) investedThe money you'd have put into the building while it lost money	$369,261
What you'd walk away with	$839,219
Building minus stocks	$534,505

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $427,410 of principal by year 30	$0
Plus rental profits, invested at 7%$53,277 of profit by year 30, before investment growth	$66,245
What you'd walk away with	$1,149,790
If you put the same money in stocks
Cash to close ($61,737) invested at 7%	$469,958
Monthly shortfalls ($150,394 total by yr 30) investedThe money you'd have put into the building while it lost money	$757,244
What you'd walk away with	$1,227,202
Building minus stocks	−$77,412

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $387,920 of principal by year 30	$0
Plus rental profits, invested at 7%$255,352 of profit by year 30, before investment growth	$429,556
What you'd walk away with	$1,535,917
If you put the same money in stocks
Cash to close ($111,527) invested at 7%	$848,972
Monthly shortfalls ($20,476 total by yr 30) investedThe money you'd have put into the building while it lost money	$128,175
What you'd walk away with	$977,147
Building minus stocks	$558,770

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $387,920 of principal by year 30	$0
Plus rental profits, invested at 7%$92,956 of profit by year 30, before investment growth	$127,047
What you'd walk away with	$1,233,408
If you put the same money in stocks
Cash to close ($111,527) invested at 7%	$848,972
Monthly shortfalls ($82,669 total by yr 30) investedThe money you'd have put into the building while it lost money	$437,583
What you'd walk away with	$1,286,555
Building minus stocks	−$53,147

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $379,920 of principal by year 30	$0
Plus rental profits, invested at 7%$270,041 of profit by year 30, before investment growth	$463,686
What you'd walk away with	$1,547,230
If you put the same money in stocks
Cash to close ($109,227) invested at 7%	$831,464
Monthly shortfalls ($16,006 total by yr 30) investedThe money you'd have put into the building while it lost money	$101,973
What you'd walk away with	$933,437
Building minus stocks	$613,793

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $379,920 of principal by year 30	$0
Plus rental profits, invested at 7%$102,537 of profit by year 30, before investment growth	$143,097
What you'd walk away with	$1,226,641
If you put the same money in stocks
Cash to close ($109,227) invested at 7%	$831,464
Monthly shortfalls ($73,089 total by yr 30) investedThe money you'd have put into the building while it lost money	$393,301
What you'd walk away with	$1,224,765
Building minus stocks	$1,876

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $363,675 of principal by year 30	$0
Plus rental profits, invested at 7%$301,637 of profit by year 30, before investment growth	$541,523
What you'd walk away with	$1,647,884
If you put the same money in stocks
Cash to close ($135,772) invested at 7%	$1,033,531
Monthly shortfalls ($8,693 total by yr 30) investedThe money you'd have put into the building while it lost money	$57,300
What you'd walk away with	$1,090,831
Building minus stocks	$557,053

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,176,980
Minus 6% selling cost	−$70,619
Minus loan still owedTenants' rent paid down all $363,675 of principal by year 30	$0
Plus rental profits, invested at 7%$123,646 of profit by year 30, before investment growth	$180,341
What you'd walk away with	$1,286,702
If you put the same money in stocks
Cash to close ($135,772) invested at 7%	$1,033,531
Monthly shortfalls ($55,290 total by yr 30) investedThe money you'd have put into the building while it lost money	$308,036
What you'd walk away with	$1,341,567
Building minus stocks	−$54,865

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $356,175 of principal by year 30	$0
Plus rental profits, invested at 7%$316,927 of profit by year 30, before investment growth	$581,132
What you'd walk away with	$1,664,677
If you put the same money in stocks
Cash to close ($132,972) invested at 7%	$1,012,217
Monthly shortfalls ($6,019 total by yr 30) investedThe money you'd have put into the building while it lost money	$40,349
What you'd walk away with	$1,052,566
Building minus stocks	$612,111

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,152,707
Minus 6% selling cost	−$69,162
Minus loan still owedTenants' rent paid down all $356,175 of principal by year 30	$0
Plus rental profits, invested at 7%$134,137 of profit by year 30, before investment growth	$199,791
What you'd walk away with	$1,283,336
If you put the same money in stocks
Cash to close ($132,972) invested at 7%	$1,012,217
Monthly shortfalls ($47,818 total by yr 30) investedThe money you'd have put into the building while it lost money	$270,925
What you'd walk away with	$1,283,142
Building minus stocks	$194

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

medium$2,729 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 3502924430099: special assessments (current) = $2,728.66

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)	$9,002
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,754
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	triplex
Living units	3
Year built	1900
Market value (2026)	$474,000
Property tax	$9,002
Special assessments	$2,729
Homestead	no
Last sale	2020-03-01 · $430,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

MN 55, about 1000 m away.

Crime in Midtown Phillips

409 incidents in the last 12 months (79 per 1,000 residents), +2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-27Price cut at $484,900 (was $524,900) · from listing history
2026-08-27New at $484,900