3824 Thomas Ave N

Minneapolis, MN · Victory · Find the listing ↗

Asking price: $339,900
Monthly cash flow: −$274
Estimated rent: $3,300/mo
Break-even price: $288,496

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

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: $339,900
Monthly cash flow: −$274
Cash to close: $78,177
Cap rate: 5.4%
Cash-on-cash: −4.2%
DSCR: 0.85×
GRM: 8.6
Price per unit: $169,950
Price that breaks even: $288,496
Rent that breaks even: $3,651/mo
Cash flow turns positive: year 8
Year 30: property vs stocks: $1.10M vs $673K

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$617
Insurance Estimate	−$192
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (8% of rent)	−$264
Net operating income	$1,535
Mortgage (principal + interest)	−$1,809
Cash flow	−$274
Principal paid down (equity, not cash)	$230

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 $1.10M, stocks $673K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $305,910 of principal by year 30	$0
Plus rental profits, invested at 7%$130,323 of profit by year 30, before investment growth	$197,886
What you'd walk away with	$973,411
If you put the same money in stocks
Cash to close ($44,187) invested at 7%	$336,363
Monthly shortfalls ($45,996 total by yr 30) investedThe money you'd have put into the building while it lost money	$271,204
What you'd walk away with	$607,566
Building minus stocks	$365,845

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $305,910 of principal by year 30	$0
Plus rental profits, invested at 7%$35,044 of profit by year 30, before investment growth	$43,195
What you'd walk away with	$818,720
If you put the same money in stocks
Cash to close ($44,187) invested at 7%	$336,363
Monthly shortfalls ($110,102 total by yr 30) investedThe money you'd have put into the building while it lost money	$550,777
What you'd walk away with	$887,139
Building minus stocks	−$68,419

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $296,910 of principal by year 30	$0
Plus rental profits, invested at 7%$144,203 of profit by year 30, before investment growth	$225,568
What you'd walk away with	$978,276
If you put the same money in stocks
Cash to close ($42,887) invested at 7%	$326,467
Monthly shortfalls ($38,050 total by yr 30) investedThe money you'd have put into the building while it lost money	$229,272
What you'd walk away with	$555,739
Building minus stocks	$422,537

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $296,910 of principal by year 30	$0
Plus rental profits, invested at 7%$42,884 of profit by year 30, before investment growth	$54,414
What you'd walk away with	$807,123
If you put the same money in stocks
Cash to close ($42,887) invested at 7%	$326,467
Monthly shortfalls ($96,115 total by yr 30) investedThe money you'd have put into the building while it lost money	$492,382
What you'd walk away with	$818,849
Building minus stocks	−$11,726

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $271,920 of principal by year 30	$0
Plus rental profits, invested at 7%$187,147 of profit by year 30, before investment growth	$319,638
What you'd walk away with	$1,095,163
If you put the same money in stocks
Cash to close ($78,177) invested at 7%	$595,103
Monthly shortfalls ($12,233 total by yr 30) investedThe money you'd have put into the building while it lost money	$77,465
What you'd walk away with	$672,569
Building minus stocks	$422,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $271,920 of principal by year 30	$0
Plus rental profits, invested at 7%$69,454 of profit by year 30, before investment growth	$96,266
What you'd walk away with	$871,791
If you put the same money in stocks
Cash to close ($78,177) invested at 7%	$595,103
Monthly shortfalls ($53,926 total by yr 30) investedThe money you'd have put into the building while it lost money	$288,357
What you'd walk away with	$883,460
Building minus stocks	−$11,669

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $263,920 of principal by year 30	$0
Plus rental profits, invested at 7%$202,329 of profit by year 30, before investment growth	$356,101
What you'd walk away with	$1,108,810
If you put the same money in stocks
Cash to close ($75,877) invested at 7%	$577,595
Monthly shortfalls ($8,254 total by yr 30) investedThe money you'd have put into the building while it lost money	$53,598
What you'd walk away with	$631,193
Building minus stocks	$477,617

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $263,920 of principal by year 30	$0
Plus rental profits, invested at 7%$79,446 of profit by year 30, before investment growth	$113,449
What you'd walk away with	$866,157
If you put the same money in stocks
Cash to close ($75,877) invested at 7%	$577,595
Monthly shortfalls ($44,756 total by yr 30) investedThe money you'd have put into the building while it lost money	$245,209
What you'd walk away with	$822,804
Building minus stocks	$43,353

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $254,925 of principal by year 30	$0
Plus rental profits, invested at 7%$220,330 of profit by year 30, before investment growth	$401,807
What you'd walk away with	$1,177,332
If you put the same money in stocks
Cash to close ($95,172) invested at 7%	$724,474
Monthly shortfalls ($4,712 total by yr 30) investedThe money you'd have put into the building while it lost money	$31,469
What you'd walk away with	$755,942
Building minus stocks	$421,390

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $254,925 of principal by year 30	$0
Plus rental profits, invested at 7%$91,613 of profit by year 30, before investment growth	$135,491
What you'd walk away with	$911,016
If you put the same money in stocks
Cash to close ($95,172) invested at 7%	$724,474
Monthly shortfalls ($35,379 total by yr 30) investedThe money you'd have put into the building while it lost money	$199,417
What you'd walk away with	$923,890
Building minus stocks	−$12,874

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $247,425 of principal by year 30	$0
Plus rental profits, invested at 7%$236,080 of profit by year 30, before investment growth	$443,984
What you'd walk away with	$1,196,693
If you put the same money in stocks
Cash to close ($92,372) invested at 7%	$703,159
Monthly shortfalls ($2,499 total by yr 30) investedThe money you'd have put into the building while it lost money	$17,085
What you'd walk away with	$720,245
Building minus stocks	$476,448

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,754
Minus 6% selling cost	−$48,045
Minus loan still owedTenants' rent paid down all $247,425 of principal by year 30	$0
Plus rental profits, invested at 7%$102,562 of profit by year 30, before investment growth	$156,427
What you'd walk away with	$909,136
If you put the same money in stocks
Cash to close ($92,372) invested at 7%	$703,159
Monthly shortfalls ($28,365 total by yr 30) investedThe money you'd have put into the building while it lost money	$163,792
What you'd walk away with	$866,952
Building minus stocks	$42,184

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

No red flags in the available data. That isn't the same as none.

Opportunities

The seller bought for $100 in Apr 2002, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 0502924410139: last sale 2002-04-01, $100

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)	$7,402
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,300
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. base rate	8% / 8%

County record Public record

Recorded as	duplex
Living units	2
Year built	1965
Market value (2026)	$393,400
Property tax	$7,402
Special assessments	none
Homestead	no
Last sale	2002-04-01 · $100

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 2103 m away.

Crime in Victory

155 incidents in the last 12 months (33 per 1,000 residents), +16% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-18New at $339,900