822 Penn Ave N

Minneapolis, MN · Near - North · Find the listing ↗

Overpriced

Asking price: $379,000
Monthly cash flow: −$790
Estimated rent: $3,000/mo
Break-even price: $230,518

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
2 bed / 1 bath (est.)$1,350 $1,150–$1,550

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: $379,000
Monthly cash flow: −$790
Cash to close: $87,170
Cap rate: 3.9%
Cash-on-cash: −10.9%
DSCR: 0.61×
GRM: 10.5
Price per unit: $189,500
Price that breaks even: $230,518
Rent that breaks even: $4,026/mo
Cash flow turns positive: year 21
Year 30: property vs stocks: $899K vs $1.18M

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$572
Insurance Estimate	−$281
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,227
Mortgage (principal + interest)	−$2,017
Cash flow	−$790
Principal paid down (equity, not cash)	$257

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 $899K, stocks $1.18M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $341,100 of principal by year 30	$0
Plus rental profits, invested at 7%$7,270 of profit by year 30, before investment growth	$7,827
What you'd walk away with	$872,564
If you put the same money in stocks
Cash to close ($49,270) invested at 7%	$375,056
Monthly shortfalls ($186,618 total by yr 30) investedThe money you'd have put into the building while it lost money	$837,437
What you'd walk away with	$1,212,493
Building minus stocks	−$339,929

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $341,100 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	$864,737
If you put the same money in stocks
Cash to close ($49,270) invested at 7%	$375,056
Monthly shortfalls ($324,243 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,224,395
What you'd walk away with	$1,599,451
Building minus stocks	−$734,714

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $332,100 of principal by year 30	$0
Plus rental profits, invested at 7%$11,022 of profit by year 30, before investment growth	$12,182
What you'd walk away with	$854,103
If you put the same money in stocks
Cash to close ($47,970) invested at 7%	$365,160
Monthly shortfalls ($168,544 total by yr 30) investedThe money you'd have put into the building while it lost money	$772,179
What you'd walk away with	$1,137,339
Building minus stocks	−$283,236

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $332,100 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	$841,920
If you put the same money in stocks
Cash to close ($47,970) invested at 7%	$365,160
Monthly shortfalls ($302,418 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,154,782
What you'd walk away with	$1,519,942
Building minus stocks	−$678,022

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $303,200 of principal by year 30	$0
Plus rental profits, invested at 7%$28,493 of profit by year 30, before investment growth	$34,387
What you'd walk away with	$899,124
If you put the same money in stocks
Cash to close ($87,170) invested at 7%	$663,560
Monthly shortfalls ($106,834 total by yr 30) investedThe money you'd have put into the building while it lost money	$512,215
What you'd walk away with	$1,175,775
Building minus stocks	−$276,651

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $303,200 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	$864,737
If you put the same money in stocks
Cash to close ($87,170) invested at 7%	$663,560
Monthly shortfalls ($223,237 total by yr 30) investedThe money you'd have put into the building while it lost money	$872,613
What you'd walk away with	$1,536,173
Building minus stocks	−$671,436

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $295,200 of principal by year 30	$0
Plus rental profits, invested at 7%$34,931 of profit by year 30, before investment growth	$43,311
What you'd walk away with	$885,232
If you put the same money in stocks
Cash to close ($84,870) invested at 7%	$646,052
Monthly shortfalls ($94,111 total by yr 30) investedThe money you'd have put into the building while it lost money	$460,808
What you'd walk away with	$1,106,860
Building minus stocks	−$221,628

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $295,200 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	$841,920
If you put the same money in stocks
Cash to close ($84,870) invested at 7%	$646,052
Monthly shortfalls ($204,076 total by yr 30) investedThe money you'd have put into the building while it lost money	$812,282
What you'd walk away with	$1,458,334
Building minus stocks	−$616,414

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $284,250 of principal by year 30	$0
Plus rental profits, invested at 7%$44,903 of profit by year 30, before investment growth	$57,859
What you'd walk away with	$922,596
If you put the same money in stocks
Cash to close ($106,120) invested at 7%	$807,813
Monthly shortfalls ($77,857 total by yr 30) investedThe money you'd have put into the building while it lost money	$392,777
What you'd walk away with	$1,200,590
Building minus stocks	−$277,994

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$919,932
Minus 6% selling cost	−$55,196
Minus loan still owedTenants' rent paid down all $284,250 of principal by year 30	$0
Plus rental profits, invested at 7%$207 of profit by year 30, before investment growth	$207
What you'd walk away with	$864,944
If you put the same money in stocks
Cash to close ($106,120) invested at 7%	$807,813
Monthly shortfalls ($178,057 total by yr 30) investedThe money you'd have put into the building while it lost money	$729,911
What you'd walk away with	$1,537,723
Building minus stocks	−$672,779

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $276,750 of principal by year 30	$0
Plus rental profits, invested at 7%$52,485 of profit by year 30, before investment growth	$69,464
What you'd walk away with	$911,384
If you put the same money in stocks
Cash to close ($103,320) invested at 7%	$786,498
Monthly shortfalls ($67,476 total by yr 30) investedThe money you'd have put into the building while it lost money	$347,822
What you'd walk away with	$1,134,320
Building minus stocks	−$222,936

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$895,660
Minus 6% selling cost	−$53,740
Minus loan still owedTenants' rent paid down all $276,750 of principal by year 30	$0
Plus rental profits, invested at 7%$1,110 of profit by year 30, before investment growth	$1,131
What you'd walk away with	$843,052
If you put the same money in stocks
Cash to close ($103,320) invested at 7%	$786,498
Monthly shortfalls ($160,996 total by yr 30) investedThe money you'd have put into the building while it lost money	$674,274
What you'd walk away with	$1,460,772
Building minus stocks	−$617,720

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

mediumAsking is $148,482 above the price where cash flow breaks even ($230,518) at the default scenario. Based on: Derived: price $379,000 vs. break-even $230,518
low$505 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 2102924230107: special assessments (current) = $504.75

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)	$6,866
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,372
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 1916: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1916
Market value (2026)	$361,500
Property tax	$6,866
Special assessments	$505
Homestead	no
Last sale	2018-06-01 · $640,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 1502 m away.

Crime in Near - North

497 incidents in the last 12 months (73 per 1,000 residents), +19% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-29New at $379,000