3620 3rd Ave S

Minneapolis, MN · Central · Find the listing ↗

Asking price: $499,000
Monthly cash flow: −$263
Estimated rent: $4,950/mo
Break-even price: $449,512

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
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: $499,000
Monthly cash flow: −$263
Cash to close: $114,770
Cap rate: 5.8%
Cash-on-cash: −2.8%
DSCR: 0.90×
GRM: 8.4
Price per unit: $166,333
Price that breaks even: $449,512
Rent that breaks even: $5,297/mo
Cash flow turns positive: year 5
Year 30: property vs stocks: $1.78M vs $926K

Monthly breakdown

Rent	$4,950
Vacancy (6%)	−$297
Collected	$4,653
Property tax Public record	−$696
Insurance Estimate	−$359
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$446
Capital reserve (9% of rent)	−$446
Net operating income	$2,392
Mortgage (principal + interest)	−$2,656
Cash flow	−$263
Principal paid down (equity, not cash)	$338

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 $1.78M, stocks $926K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $449,100 of principal by year 30	$0
Plus rental profits, invested at 7%$258,202 of profit by year 30, before investment growth	$417,425
What you'd walk away with	$1,555,956
If you put the same money in stocks
Cash to close ($64,870) invested at 7%	$493,807
Monthly shortfalls ($47,938 total by yr 30) investedThe money you'd have put into the building while it lost money	$295,717
What you'd walk away with	$789,524
Building minus stocks	$766,432

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $449,100 of principal by year 30	$0
Plus rental profits, invested at 7%$94,302 of profit by year 30, before investment growth	$125,582
What you'd walk away with	$1,264,114
If you put the same money in stocks
Cash to close ($64,870) invested at 7%	$493,807
Monthly shortfalls ($123,116 total by yr 30) investedThe money you'd have put into the building while it lost money	$655,271
What you'd walk away with	$1,149,078
Building minus stocks	$115,036

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $440,100 of principal by year 30	$0
Plus rental profits, invested at 7%$273,702 of profit by year 30, before investment growth	$451,361
What you'd walk away with	$1,567,077
If you put the same money in stocks
Cash to close ($63,570) invested at 7%	$483,911
Monthly shortfalls ($41,611 total by yr 30) investedThe money you'd have put into the building while it lost money	$260,041
What you'd walk away with	$743,952
Building minus stocks	$823,125

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $440,100 of principal by year 30	$0
Plus rental profits, invested at 7%$104,362 of profit by year 30, before investment growth	$141,786
What you'd walk away with	$1,257,501
If you put the same money in stocks
Cash to close ($63,570) invested at 7%	$483,911
Monthly shortfalls ($111,349 total by yr 30) investedThe money you'd have put into the building while it lost money	$601,861
What you'd walk away with	$1,085,772
Building minus stocks	$171,729

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $399,200 of principal by year 30	$0
Plus rental profits, invested at 7%$351,138 of profit by year 30, before investment growth	$637,445
What you'd walk away with	$1,775,977
If you put the same money in stocks
Cash to close ($114,770) invested at 7%	$873,659
Monthly shortfalls ($7,886 total by yr 30) investedThe money you'd have put into the building while it lost money	$52,573
What you'd walk away with	$926,232
Building minus stocks	$849,745

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $399,200 of principal by year 30	$0
Plus rental profits, invested at 7%$157,226 of profit by year 30, before investment growth	$235,045
What you'd walk away with	$1,373,576
If you put the same money in stocks
Cash to close ($114,770) invested at 7%	$873,659
Monthly shortfalls ($53,051 total by yr 30) investedThe money you'd have put into the building while it lost money	$301,569
What you'd walk away with	$1,175,228
Building minus stocks	$198,348

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $391,200 of principal by year 30	$0
Plus rental profits, invested at 7%$367,744 of profit by year 30, before investment growth	$681,308
What you'd walk away with	$1,797,023
If you put the same money in stocks
Cash to close ($112,470) invested at 7%	$856,150
Monthly shortfalls ($5,331 total by yr 30) investedThe money you'd have put into the building while it lost money	$36,105
What you'd walk away with	$892,256
Building minus stocks	$904,767

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $391,200 of principal by year 30	$0
Plus rental profits, invested at 7%$169,031 of profit by year 30, before investment growth	$257,802
What you'd walk away with	$1,373,518
If you put the same money in stocks
Cash to close ($112,470) invested at 7%	$856,150
Monthly shortfalls ($45,696 total by yr 30) investedThe money you'd have put into the building while it lost money	$263,995
What you'd walk away with	$1,120,146
Building minus stocks	$253,372

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $374,250 of principal by year 30	$0
Plus rental profits, invested at 7%$404,569 of profit by year 30, before investment growth	$783,936
What you'd walk away with	$1,922,468
If you put the same money in stocks
Cash to close ($139,720) invested at 7%	$1,063,584
Monthly shortfalls ($1,559 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,907
What you'd walk away with	$1,074,491
Building minus stocks	$847,977

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,211,204
Minus 6% selling cost	−$72,672
Minus loan still owedTenants' rent paid down all $374,250 of principal by year 30	$0
Plus rental profits, invested at 7%$195,667 of profit by year 30, before investment growth	$311,746
What you'd walk away with	$1,450,278
If you put the same money in stocks
Cash to close ($139,720) invested at 7%	$1,063,584
Monthly shortfalls ($31,735 total by yr 30) investedThe money you'd have put into the building while it lost money	$190,113
What you'd walk away with	$1,253,697
Building minus stocks	$196,581

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $366,750 of principal by year 30	$0
Plus rental profits, invested at 7%$421,543 of profit by year 30, before investment growth	$833,645
What you'd walk away with	$1,949,361
If you put the same money in stocks
Cash to close ($136,920) invested at 7%	$1,042,270
Monthly shortfalls ($570 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,056
What you'd walk away with	$1,046,326
Building minus stocks	$903,035

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,186,931
Minus 6% selling cost	−$71,216
Minus loan still owedTenants' rent paid down all $366,750 of principal by year 30	$0
Plus rental profits, invested at 7%$208,241 of profit by year 30, before investment growth	$338,610
What you'd walk away with	$1,454,326
If you put the same money in stocks
Cash to close ($136,920) invested at 7%	$1,042,270
Monthly shortfalls ($26,346 total by yr 30) investedThe money you'd have put into the building while it lost money	$160,416
What you'd walk away with	$1,202,686
Building minus stocks	$251,640

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

mediumBought for $423,000 in Mar 2024; asking is 18% more 31 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 0302824430166: last sale 2024-03-01, $423,000
mediumAbout 109 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 109 m

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)	$8,347
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,307
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 1915: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	triplex
Living units	3
Year built	1915
Market value (2026)	$439,500
Property tax	$8,347
Special assessments	none
Homestead	no
Last sale	2024-03-01 · $423,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 35W, about 109 m away.

Crime in Central

409 incidents in the last 12 months (50 per 1,000 residents), −10% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-20New at $499,000