Minneapolis › Lyndale

3544 Stevens Ave

Minneapolis, MN · Lyndale · View the listing ↗

Overpriced

62 photos

Photos courtesy of Bridge Realty, via Realtor.com.

Asking price: $296,000
Monthly cash flow: −$519
Estimated rent: $2,450/mo
Break-even price: $198,461

Adjust the numbers See the full breakdown

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $296,000
Cash to close: $68,080
Price per unit: $148,000
GRM: 10.1

Each month

Cash flow: −$519/mo
Cash-on-cash: −9.2%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $198,461
Rent that breaks even: $3,124/mo

Long run

Year 30: property vs stocks: $743K vs $805K
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$2,450
Vacancy (6%)	−$147
Collected	$2,303
Property tax Listing	−$385
Insurance Estimate	−$215
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$196
Capital reserve (9% of rent)	−$220
Net operating income	$1,056
Mortgage (principal + interest)	−$1,575
Cash flow	−$519
Principal paid down (equity, not cash)	$200

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $266,400 of principal by year 30	$0
Plus rental profits, invested at 7%$23,687 of profit by year 30, before investment growth	$28,355
What you'd walk away with	$703,716
If you put the same money in stocks
Cash to close ($38,480) invested at 7%	$292,920
Monthly shortfalls ($107,010 total by yr 30) investedThe money you'd have put into the building while it lost money	$522,294
What you'd walk away with	$815,214
Building minus stocks	−$111,498

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $266,400 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	$675,362
If you put the same money in stocks
Cash to close ($38,480) invested at 7%	$292,920
Monthly shortfalls ($201,654 total by yr 30) investedThe money you'd have put into the building while it lost money	$816,348
What you'd walk away with	$1,109,267
Building minus stocks	−$433,905

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $257,400 of principal by year 30	$0
Plus rental profits, invested at 7%$30,667 of profit by year 30, before investment growth	$37,905
What you'd walk away with	$690,451
If you put the same money in stocks
Cash to close ($37,180) invested at 7%	$283,024
Monthly shortfalls ($92,164 total by yr 30) investedThe money you'd have put into the building while it lost money	$462,232
What you'd walk away with	$745,256
Building minus stocks	−$54,805

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $257,400 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	$652,545
If you put the same money in stocks
Cash to close ($37,180) invested at 7%	$283,024
Monthly shortfalls ($179,828 total by yr 30) investedThe money you'd have put into the building while it lost money	$746,735
What you'd walk away with	$1,029,758
Building minus stocks	−$377,213

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $236,800 of principal by year 30	$0
Plus rental profits, invested at 7%$50,660 of profit by year 30, before investment growth	$68,006
What you'd walk away with	$743,368
If you put the same money in stocks
Cash to close ($68,080) invested at 7%	$518,242
Monthly shortfalls ($55,096 total by yr 30) investedThe money you'd have put into the building while it lost money	$287,203
What you'd walk away with	$805,446
Building minus stocks	−$62,078

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $236,800 of principal by year 30	$0
Plus rental profits, invested at 7%$3,478 of profit by year 30, before investment growth	$3,688
What you'd walk away with	$679,049
If you put the same money in stocks
Cash to close ($68,080) invested at 7%	$518,242
Monthly shortfalls ($126,245 total by yr 30) investedThe money you'd have put into the building while it lost money	$545,293
What you'd walk away with	$1,063,535
Building minus stocks	−$384,486

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $228,800 of principal by year 30	$0
Plus rental profits, invested at 7%$59,914 of profit by year 30, before investment growth	$83,213
What you'd walk away with	$735,759
If you put the same money in stocks
Cash to close ($65,780) invested at 7%	$500,734
Monthly shortfalls ($45,189 total by yr 30) investedThe money you'd have put into the building while it lost money	$242,079
What you'd walk away with	$742,814
Building minus stocks	−$7,055

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $228,800 of principal by year 30	$0
Plus rental profits, invested at 7%$6,413 of profit by year 30, before investment growth	$7,023
What you'd walk away with	$659,568
If you put the same money in stocks
Cash to close ($65,780) invested at 7%	$500,734
Monthly shortfalls ($110,020 total by yr 30) investedThe money you'd have put into the building while it lost money	$488,296
What you'd walk away with	$989,031
Building minus stocks	−$329,463

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $222,000 of principal by year 30	$0
Plus rental profits, invested at 7%$68,450 of profit by year 30, before investment growth	$97,938
What you'd walk away with	$773,299
If you put the same money in stocks
Cash to close ($82,880) invested at 7%	$630,904
Monthly shortfalls ($37,438 total by yr 30) investedThe money you'd have put into the building while it lost money	$205,522
What you'd walk away with	$836,426
Building minus stocks	−$63,127

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$718,470
Minus 6% selling cost	−$43,108
Minus loan still owedTenants' rent paid down all $222,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,686 of profit by year 30, before investment growth	$10,934
What you'd walk away with	$686,296
If you put the same money in stocks
Cash to close ($82,880) invested at 7%	$630,904
Monthly shortfalls ($97,006 total by yr 30) investedThe money you'd have put into the building while it lost money	$440,926
What you'd walk away with	$1,071,830
Building minus stocks	−$385,534

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $214,500 of principal by year 30	$0
Plus rental profits, invested at 7%$78,666 of profit by year 30, before investment growth	$116,535
What you'd walk away with	$769,080
If you put the same money in stocks
Cash to close ($80,080) invested at 7%	$609,589
Monthly shortfalls ($29,692 total by yr 30) investedThe money you'd have put into the building while it lost money	$167,559
What you'd walk away with	$777,148
Building minus stocks	−$8,068

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$694,197
Minus 6% selling cost	−$41,652
Minus loan still owedTenants' rent paid down all $214,500 of principal by year 30	$0
Plus rental profits, invested at 7%$14,128 of profit by year 30, before investment growth	$16,519
What you'd walk away with	$669,064
If you put the same money in stocks
Cash to close ($80,080) invested at 7%	$609,589
Monthly shortfalls ($83,485 total by yr 30) investedThe money you'd have put into the building while it lost money	$389,951
What you'd walk away with	$999,540
Building minus stocks	−$330,476

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.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $743K, stocks $805K. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,425/mo · range $1,225–$1,575 · 17 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3515 2nd Ave S Unit 303, Minneapolis	$1,695	2 / 1	750	0.1 mi	2026-09-07	Apartment
3503 2nd Ave S, Minneapolis	$1,639	2 / 1	686	0.1 mi	2025-08-04	Apartment
3429 2nd Ave S Fl 1, Minneapolis	$1,400	2 / 1	850	0.2 mi	—	Apartment
3648 Blaisdell Ave Apt 2, Minneapolis	$1,595	2 / —	1,200	0.3 mi	2026-09-16	Duplex triplex
3329 Nicollet Ave, Minneapolis	$1,675	2 / 1	700	0.3 mi	2026-09-10	Apartment
3212 1st Ave S, Minneapolis	$1,800	2 / 1	900	0.4 mi	2026-09-08	Duplex triplex
3520 Grand Ave S, Minneapolis	$1,225	2 / 1	900	0.4 mi	2026-01-08	Apartment
3721 Grand Ave S Unit 2, Minneapolis	$1,600	2 / 1	1,050	0.5 mi	2026-08-29	Multi family
3721 Grand Ave S Unit 1, Minneapolis	$1,600	2 / 1	1,050	0.5 mi	2026-08-31	Multi family
3535-3537 Harriet Ave, Minneapolis	$2,225	2 / 1	1,300	0.5 mi	2026-09-24	Apartment

1 bed estimate $1,025/mo · range $925–$1,100 · 13 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3527 Pillsbury Ave S, Minneapolis	$1,075	1 / 1	600	0.3 mi	2026-06-03	Apartment
3309 Pillsbury Ave S, Minneapolis	$1,000	1 / 1	400	0.4 mi	2026-09-30	Apartment
3615 Grand Ave S, Minneapolis	$950	1 / 1	497	0.4 mi	2025-10-14	Apartment
3538 Grand Ave S, Minneapolis	$1,015	1 / 1	565	0.4 mi	2026-08-05	Apartment
3320 Grand Ave S, Minneapolis	$1,200	1 / 1	—	0.5 mi	2025-03-30	Apartment
3410 Harriet Ave S, Minneapolis	$1,099	1 / 1	650	0.5 mi	2026-01-23	Apartment
3845 Grand Ave S, Minneapolis	$1,300	1 / 1	750	0.6 mi	2026-09-15	Apartment
3127 Pleasant Ave, Minneapolis	$1,099	1 / 1	700	0.6 mi	2025-02-22	Apartment
3127 Pleasant Ave Apt 206, Minneapolis	$1,099	1 / 1	700	0.6 mi	—	Apartment
3118 Pleasant Ave, Minneapolis	$1,199	1 / 1	750	0.7 mi	2026-05-09	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumNo rental license on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: Minneapolis Active Rental Licenses: no record for 3544 STEVENS AVE
mediumAbout 72 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 72 m
mediumAsking is $97,539 above the price where cash flow breaks even ($198,461) at the default scenario. Based on: Derived: price $296,000 vs. break-even $198,461

Opportunities

The seller bought for $14,900 in Sep 1989, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 0302824420112: last sale 1989-09-01, $14,900

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 Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$4,623
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,580
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 1908: +1 pt capital reserve	8% / 9%

Status history

2026-10-02New at $296,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1908
Market value (2026)	$315,200
Property tax	$4,624
Special assessments	none
Homestead	no
Last sale	1989-09-01 · $14,900

Source: Hennepin County parcel records.

City rental license

No record in Minneapolis Active Rental Licenses.

Nearest highway

I 35W, about 72 m away.

Crime in Lyndale

476 incidents in the last 12 months (67 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).