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5921 Chicago Ave S

Minneapolis, MN · Diamond Lake · View the listing ↗

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Photos courtesy of Lakes Area Realty - South - Broker, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.

Asking price
$557,000
2 units · $278K per unit
Monthly cash flow
−$380
at 20% down, 7%
Estimated rent
$4,675/mo
low confidence · 7 rentals within 3 mi
Break-even price
$485,623
where cash flow hits $0

Adjust the numbers See the full breakdown

The numbers

Down payment %
Offer $
Management
Interest rate %
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
$557,000
Cash to close
$128,110
Price per unit
$278,500
GRM
9.9

Each month

Cash flow
−$380/mo
Cash-on-cash
−3.6%
Cap rate
5.6%
DSCR
0.87×

Break-even

Price that breaks even
$485,623
Rent that breaks even
$5,162/mo

Long run

Year 30: property vs stocks
$1.92M vs $1.07M
Cash flow turns positive
year 6

Monthly

Monthly breakdown

Rent$4,675
Vacancy (6%)−$280
Collected$4,394
Property tax Listing−$626
Insurance Estimate−$206
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$374
Capital reserve (8% of rent)−$374
Net operating income$2,585
Mortgage (principal + interest)−$2,965
Cash flow−$380
Principal paid down (equity, not cash)$377

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$1,351,985
Minus 6% selling cost−$81,119
Minus loan still owedTenants' rent paid down all $445,600 of principal by year 30$0
Plus rental profits, invested at 7%$370,675 of profit by year 30, before investment growth$652,728
What you'd walk away with$1,923,594
If you put the same money in stocks
Cash to close ($128,110) invested at 7%$975,206
Monthly shortfalls ($13,885 total by yr 30) investedThe money you'd have put into the building while it lost money$90,481
What you'd walk away with$1,065,687
Building minus stocks$857,907

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 $1.92M, stocks $1.07M. The property wins.

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.

3 bed estimate $2,675/mo · range $2,025–$2,675 · 10 rentals within 3 mi

AddressRentBd / BaSq ftDistanceListedType
5100 Bloomington Ave S, Minneapolis $1,900 3 / 1 1,231 1.2 mi 2026-09-22 Multi family
6401 Lyndale Ave S, Richfield $2,500 3 / 2 1,344 1.3 mi 2025-03-18 Apartment
5320 Lyndale Ave S, Minneapolis $1,999 3 / 2 1,281 1.5 mi 2026-02-19 Apartment
4429 Nicollet Ave, Minneapolis $1,999 3 / 1 1,050 2.0 mi 2026-01-22 Apartment
5515 Oliver Ave S, Minneapolis $4,200 3 / 1 — 2.2 mi 2026-08-01 Duplex triplex
6200 Penn Ave S, Richfield $4,286 3 / 2 1,796 2.3 mi 2024-04-12 Apartment
5005 Oliver Ave S Unit 2, Minneapolis $2,850 3 / — 3,864 2.5 mi 2026-10-02 Duplex triplex
8162 Bloomington Ave S, Bloomington $2,125 3 / 1.5 1,210 2.7 mi 2024-04-12 Apartment
3250 W 66th St, Edina $3,870 3 / 3 1,580 3.0 mi 2025-05-01 Apartment
6725 York Ave S, Edina $3,329 3 / 3 1,537 3.0 mi 2025-01-03 Apartment

2 bed estimate $2,000/mo · range $1,375–$2,150 · 7 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
127 E 59th St, Minneapolis $1,450 2 / 1 860 0.7 mi 2026-02-18 Apartment
6300 Richfield Pkwy, Richfield $2,137 2 / 2 1,079 0.8 mi 2025-09-09 Apartment
6630 Richfield Pkwy, Richfield $2,004 2 / 2 982 1.1 mi 2025-03-26 Apartment
6321 6329 Pleasant Ave S, Richfield $1,125 2 / 1 710 1.1 mi 2025-04-01 Apartment
6445 Lyndale Ave S, Richfield $2,345 2 / 2 1,142 1.3 mi 2024-04-12 Apartment
6401 Lyndale Ave S, Richfield $1,975 2 / 2 1,238 1.3 mi 2025-03-18 Apartment
800 W 65th St, Richfield $1,350 2 / 1 985 1.4 mi 2025-01-08 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

  • highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 5921 CHICAGO AVE, units=1

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 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.$7,508
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,474
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 rate8% / 8%

Status history

  • New at $557,000

County record Public record

Recorded asduplex
Living units2
Year built1947
Market value (2026)$489,100
Property tax$7,508
Special assessmentsnone
Homesteadno
Last sale2016-06-01 · $409,300

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

MN 62, about 513 m away.

Crime in Diamond Lake

124 incidents in the last 12 months (21 per 1,000 residents), −7% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).