7632 Pleasant Ave

16 photos

Photos, via Realtor.com.

Asking price: $575,000
Monthly cash flow: −$374
Estimated rent: $5,425/mo
Break-even price: $504,705

Adjust the numbers See the full breakdown

From the listing

Rarely available fourplex in a highly convenient Richfield location offering strong rental demand and long-term tenants. This well-maintained property features three 2-bedroom units and one 1-bedroom unit, making it an ideal addition to an investor's portfolio, owner occupant or a great opportunity for a first-time multifamily buyer looking to build passive income. Recent capital improvements provide peace of mind, including a new boiler (2025), newer windows and a complete remodel of Unit 2 in 2024 featuring new carpet, fresh paint, new blinds, new living room windows, updated kitchen cabinets, countertops, appliances, and remodeled bathroom with tile tub/shower. The property benefits from month-to-month leases with long-term tenants and historically low turnover, helping provide consistent income and flexibility for future rent adjustments. Located in Southwest Richfield, the property offers excellent accessibility to major highways, shopping, restaurants, and parks, and is just minutes from the Mall of America and MSP Airport, making it an attractive location for renters. The neighborhood also offers strong amenities and transportation access, further supporting long-term rental demand.

Description from Realtor.com, MLS #7043836. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

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: $575,000
Cash to close: $132,250
Price per unit: $143,750
GRM: 8.8

Each month

Cash flow: −$374/mo
Cash-on-cash: −3.4%
Cap rate: 5.6%
DSCR: 0.88×

Break-even

Price that breaks even: $504,705
Rent that breaks even: $5,905/mo

Long run

Year 30: property vs stocks: $1.97M vs $1.09M
Cash flow turns positive: year 6

Monthly

Monthly breakdown

Rent	$5,425
Vacancy (6%)	−$326
Collected	$5,100
Property tax Listing	−$762
Insurance Estimate	−$384
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$434
Capital reserve (8% of rent)	−$434
Net operating income	$2,686
Mortgage (principal + interest)	−$3,060
Cash flow	−$374
Principal paid down (equity, not cash)	$389

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	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $517,500 of principal by year 30	$0
Plus rental profits, invested at 7%$267,662 of profit by year 30, before investment growth	$421,875
What you'd walk away with	$1,733,810
If you put the same money in stocks
Cash to close ($74,750) invested at 7%	$569,016
Monthly shortfalls ($64,100 total by yr 30) investedThe money you'd have put into the building while it lost money	$388,469
What you'd walk away with	$957,485
Building minus stocks	$776,325

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $517,500 of principal by year 30	$0
Plus rental profits, invested at 7%$95,287 of profit by year 30, before investment growth	$124,444
What you'd walk away with	$1,436,379
If you put the same money in stocks
Cash to close ($74,750) invested at 7%	$569,016
Monthly shortfalls ($153,745 total by yr 30) investedThe money you'd have put into the building while it lost money	$804,942
What you'd walk away with	$1,373,958
Building minus stocks	$62,421

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $508,500 of principal by year 30	$0
Plus rental profits, invested at 7%$282,417 of profit by year 30, before investment growth	$452,820
What you'd walk away with	$1,741,939
If you put the same money in stocks
Cash to close ($73,450) invested at 7%	$559,120
Monthly shortfalls ($57,030 total by yr 30) investedThe money you'd have put into the building while it lost money	$349,801
What you'd walk away with	$908,922
Building minus stocks	$833,017

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $508,500 of principal by year 30	$0
Plus rental profits, invested at 7%$104,628 of profit by year 30, before investment growth	$138,915
What you'd walk away with	$1,428,035
If you put the same money in stocks
Cash to close ($73,450) invested at 7%	$559,120
Monthly shortfalls ($141,260 total by yr 30) investedThe money you'd have put into the building while it lost money	$749,800
What you'd walk away with	$1,308,920
Building minus stocks	$119,115

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $460,000 of principal by year 30	$0
Plus rental profits, invested at 7%$370,277 of profit by year 30, before investment growth	$655,042
What you'd walk away with	$1,966,977
If you put the same money in stocks
Cash to close ($132,250) invested at 7%	$1,006,721
Monthly shortfalls ($13,472 total by yr 30) investedThe money you'd have put into the building while it lost money	$87,930
What you'd walk away with	$1,094,651
Building minus stocks	$872,326

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $460,000 of principal by year 30	$0
Plus rental profits, invested at 7%$163,964 of profit by year 30, before investment growth	$240,066
What you'd walk away with	$1,552,001
If you put the same money in stocks
Cash to close ($132,250) invested at 7%	$1,006,721
Monthly shortfalls ($69,179 total by yr 30) investedThe money you'd have put into the building while it lost money	$386,858
What you'd walk away with	$1,393,578
Building minus stocks	$158,423

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $452,000 of principal by year 30	$0
Plus rental profits, invested at 7%$386,244 of profit by year 30, before investment growth	$695,438
What you'd walk away with	$1,984,557
If you put the same money in stocks
Cash to close ($129,950) invested at 7%	$989,213
Monthly shortfalls ($10,279 total by yr 30) investedThe money you'd have put into the building while it lost money	$67,995
What you'd walk away with	$1,057,208
Building minus stocks	$927,349

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $452,000 of principal by year 30	$0
Plus rental profits, invested at 7%$175,261 of profit by year 30, before investment growth	$261,150
What you'd walk away with	$1,550,270
If you put the same money in stocks
Cash to close ($129,950) invested at 7%	$989,213
Monthly shortfalls ($61,315 total by yr 30) investedThe money you'd have put into the building while it lost money	$347,611
What you'd walk away with	$1,336,824
Building minus stocks	$213,446

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $431,250 of principal by year 30	$0
Plus rental profits, invested at 7%$429,600 of profit by year 30, before investment growth	$810,942
What you'd walk away with	$2,122,878
If you put the same money in stocks
Cash to close ($161,000) invested at 7%	$1,225,573
Monthly shortfalls ($3,937 total by yr 30) investedThe money you'd have put into the building while it lost money	$27,015
What you'd walk away with	$1,252,588
Building minus stocks	$870,290

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,395,676
Minus 6% selling cost	−$83,741
Minus loan still owedTenants' rent paid down all $431,250 of principal by year 30	$0
Plus rental profits, invested at 7%$206,497 of profit by year 30, before investment growth	$322,323
What you'd walk away with	$1,634,258
If you put the same money in stocks
Cash to close ($161,000) invested at 7%	$1,225,573
Monthly shortfalls ($42,853 total by yr 30) investedThe money you'd have put into the building while it lost money	$252,300
What you'd walk away with	$1,477,873
Building minus stocks	$156,385

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $423,750 of principal by year 30	$0
Plus rental profits, invested at 7%$445,943 of profit by year 30, before investment growth	$856,635
What you'd walk away with	$2,145,754
If you put the same money in stocks
Cash to close ($158,200) invested at 7%	$1,204,259
Monthly shortfalls ($2,317 total by yr 30) investedThe money you'd have put into the building while it lost money	$16,148
What you'd walk away with	$1,220,406
Building minus stocks	$925,348

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,371,403
Minus 6% selling cost	−$82,284
Minus loan still owedTenants' rent paid down all $423,750 of principal by year 30	$0
Plus rental profits, invested at 7%$218,472 of profit by year 30, before investment growth	$346,870
What you'd walk away with	$1,635,989
If you put the same money in stocks
Cash to close ($158,200) invested at 7%	$1,204,259
Monthly shortfalls ($36,866 total by yr 30) investedThe money you'd have put into the building while it lost money	$220,286
What you'd walk away with	$1,424,545
Building minus stocks	$211,444

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 $1.97M, stocks $1.09M. 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.

2 bed estimate $1,425/mo · range $1,325–$2,150 · 13 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
700 American Blvd W, Bloomington	$1,419	2 / 1	899	0.4 mi	2025-12-15	Apartment
7611 Knox Ave S, Richfield	$1,495	2 / 1.5	925	0.8 mi	2025-01-03	Apartment
424 E 73rd St, Richfield	$1,285	2 / 1	750	0.8 mi	2026-09-02	Apartment
695 American Blvd E, Bloomington	$1,415	2 / 1	900	0.9 mi	2026-03-09	Apartment
8330 Fremont Ave S, Bloomington	$1,355	2 / 1	800	1.0 mi	2025-10-29	Apartment
8200 Humboldt Ave S, Bloomington	$2,250	2 / 2	1,201	1.0 mi	2024-04-12	Apartment
1901 W 80 1/2 St, Bloomington	$2,135	2 / 2	1,103	1.1 mi	2025-04-12	Apartment
951 E 77th St, Richfield	$1,380	2 / 1	860	1.1 mi	2025-04-30	Apartment
7500 Oliver Ave S Apt 6, Minneapolis	$1,260	2 / 1	800	1.2 mi	2026-08-24	Apartment
8055 Penn Ave S, Bloomington	$2,145	2 / 2	1,078	1.3 mi	2025-04-11	Apartment

1 bed estimate $1,150/mo · range $1,075–$1,250 · 16 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
700 American Blvd W, Bloomington	$1,275	1 / 1	631	0.4 mi	2025-12-15	Apartment
7611 Knox Ave S, Richfield	$1,260	1 / 1	720	0.8 mi	2025-01-03	Apartment
631 E 77th St, Richfield	$1,134	1 / 1	670	0.9 mi	2025-08-26	Apartment
695 American Blvd E, Bloomington	$1,205	1 / 1	750	0.9 mi	2026-03-09	Apartment
8300 Fremont Ave S, Bloomington	$1,145	1 / 1	650	1.0 mi	2026-03-14	Apartment
8320 Fremont Ave S Apt 104, Bloomington	$1,099	1 / 1	550	1.0 mi	—	Apartment
951 E 77th St, Richfield	$1,120	1 / 1	745	1.1 mi	2025-04-30	Apartment
7530 Oliver Ave S, Richfield	$1,075	1 / 1	700	1.2 mi	2026-09-25	Apartment
7527 Penn Ave S Apt 1, Minneapolis	$950	1 / 1	550	1.2 mi	2024-08-24	Apartment
7521 Penn Ave S Apt 9, Richfield	$979	1 / 1	550	1.2 mi	—	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

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 7632 PLEASANT AVE
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "bathroom with tile tub/shower. The property benefits from month-to-month leases with long-term tenants and historically low turnover"

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 178 days on market

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.	$9,141
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,602
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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%

Status history

2026-04-10New at $575,000

From the listing Listing

Listed as	four plex
Property tax, 2026	$9,141
County	Hennepin
Parcel number	3402824330026

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Richfield on rental licensing before you buy.

Nearest highway

I 494;MN 5, about 253 m away.