3307 29th Ave S

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

Far off

Asking price: $385,000
Monthly cash flow: −$1,114
Estimated rent: $2,400/mo
Break-even price: $175,695

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: $385,000
Monthly cash flow: −$1,114
Cash to close: $88,550
Cap rate: 2.9%
Cash-on-cash: −15.1%
DSCR: 0.46×
GRM: 13.4
Price per unit: $192,500
Price that breaks even: $175,695
Rent that breaks even: $3,847/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $878K vs $1.63M

Monthly breakdown

Rent	$2,400
Vacancy (6%)	−$144
Collected	$2,256
Property tax Public record	−$478
Insurance Estimate	−$204
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	$935
Mortgage (principal + interest)	−$2,049
Cash flow	−$1,114
Principal paid down (equity, not cash)	$261

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 $878K, stocks $1.63M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $346,500 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	$878,426
If you put the same money in stocks
Cash to close ($50,050) invested at 7%	$380,993
Monthly shortfalls ($350,763 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,309,588
What you'd walk away with	$1,690,581
Building minus stocks	−$812,155

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $346,500 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	$878,426
If you put the same money in stocks
Cash to close ($50,050) invested at 7%	$380,993
Monthly shortfalls ($466,680 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,625,416
What you'd walk away with	$2,006,409
Building minus stocks	−$1,127,983

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $337,500 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	$855,610
If you put the same money in stocks
Cash to close ($48,750) invested at 7%	$371,097
Monthly shortfalls ($328,938 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,239,975
What you'd walk away with	$1,611,072
Building minus stocks	−$755,462

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $337,500 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	$855,610
If you put the same money in stocks
Cash to close ($48,750) invested at 7%	$371,097
Monthly shortfalls ($444,854 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,555,803
What you'd walk away with	$1,926,900
Building minus stocks	−$1,071,290

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $308,000 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	$878,426
If you put the same money in stocks
Cash to close ($88,550) invested at 7%	$674,065
Monthly shortfalls ($248,157 total by yr 30) investedThe money you'd have put into the building while it lost money	$952,237
What you'd walk away with	$1,626,302
Building minus stocks	−$747,876

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $308,000 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	$878,426
If you put the same money in stocks
Cash to close ($88,550) invested at 7%	$674,065
Monthly shortfalls ($364,074 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,268,065
What you'd walk away with	$1,942,130
Building minus stocks	−$1,063,704

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $300,000 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	$855,610
If you put the same money in stocks
Cash to close ($86,250) invested at 7%	$656,557
Monthly shortfalls ($228,997 total by yr 30) investedThe money you'd have put into the building while it lost money	$891,906
What you'd walk away with	$1,548,463
Building minus stocks	−$692,853

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $300,000 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	$855,610
If you put the same money in stocks
Cash to close ($86,250) invested at 7%	$656,557
Monthly shortfalls ($344,913 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,207,734
What you'd walk away with	$1,864,291
Building minus stocks	−$1,008,681

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $288,750 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	$878,426
If you put the same money in stocks
Cash to close ($107,800) invested at 7%	$820,601
Monthly shortfalls ($202,052 total by yr 30) investedThe money you'd have put into the building while it lost money	$807,065
What you'd walk away with	$1,627,666
Building minus stocks	−$749,240

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $288,750 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	$878,426
If you put the same money in stocks
Cash to close ($107,800) invested at 7%	$820,601
Monthly shortfalls ($317,968 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,122,893
What you'd walk away with	$1,943,494
Building minus stocks	−$1,065,068

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $281,250 of principal by year 30	$0
Plus rental profits, invested at 7%$98 of profit by year 30, before investment growth	$98
What you'd walk away with	$855,708
If you put the same money in stocks
Cash to close ($105,000) invested at 7%	$799,287
Monthly shortfalls ($184,187 total by yr 30) investedThe money you'd have put into the building while it lost money	$750,602
What you'd walk away with	$1,549,889
Building minus stocks	−$694,181

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$910,223
Minus 6% selling cost	−$54,613
Minus loan still owedTenants' rent paid down all $281,250 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	$855,610
If you put the same money in stocks
Cash to close ($105,000) invested at 7%	$799,287
Monthly shortfalls ($300,005 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,066,333
What you'd walk away with	$1,865,619
Building minus stocks	−$1,010,009

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 $209,305 above the price where cash flow breaks even ($175,695) at the default scenario. Based on: Derived: price $385,000 vs. break-even $175,695
low$250 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 0102824140176: special assessments (current) = $250.44

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)	$5,741
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,453
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)	$302,300
Property tax	$5,741
Special assessments	$250
Homestead	no
Last sale	2020-06-01 · $278,350

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 55, about 357 m away.

Crime in Longfellow

690 incidents in the last 12 months (136 per 1,000 residents), −5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-21New at $385,000