$185,000
3305 Elliot Ave
Minneapolis MN 55407
3 beds, 2 baths, 1,752 sqft
3305 Elliot Ave is a 3 beds, 2 baths, 1,752 sqft multi-family home for sale at $185,000 in Minneapolis MN 55407. At 20% down it rents for an estimated $3,400/mo and returns $2,102/mo a month at a 20.2% cap rate.
The deal math
Modelled at 20% down on a 30-year loan at current market rates, before management, vacancy and maintenance reserves.
- Estimated rent
- $3,400/mo
- Monthly cash flow
- $2,102/mo
- Cap rate
- 20.2%
- Cash-on-cash
- 68.2%
- Max offer
- $185,000
Works right at asking price for a 1.2 DSCR and 8% cash-on-cash.
$185,000
3305 Elliot Ave
Minneapolis MN 55407
Works right at asking price for a 1.2 DSCR and 8% cash-on-cash.
Pro forma
What you'd spend on interior finishes before renting — starts at zero, set your own number (our photo-based estimate is $59,000). Counted as upfront cash: it raises cash to close and is part of the cash-on-cash return.
Every number on this page assumes the home stays rented and nothing is set aside. That is deliberate, but it is not what most landlords spend. Standard investor assumptions (23% of rent, about $782/mo for management, vacancy, maintenance and CapEx) would put cash flow at $1,273/mo. Set your own below.
Expenses owners pay
On a multifamily building like this (2 units), the owner, not the tenant, pays the master-billed utilities. We've started water/sewer, trash and common electric at modest per-unit estimates — put in the building's real bills (the seller's expense sheet has them). Heat and caretaker start at $0 because metering varies; add yours if the owner pays. These are charged in full in the cash flow above.
The board's deal score doesn't model these bills, so this page's cash flow reads $134/mo lower than the card that brought you here — this is the truer number.
Monthly payment (PITI)
- Principal & interest$918
- Property tax$185
- Insurance$108
- Total payment$1,211/mo
Cash-flow math charges taxes, insurance, HOA, PMI, and $134/mo of owner-paid expenses in full and holds nothing back from rent. Management, vacancy, maintenance and CapEx are yours to set above.
Cash you'd need to close (est.)
- Down payment (25.0%)$46,250
- Closing costs (~3%: title, lender, prepaid escrow)$5,550
- Reserves (2 months of payments)$2,423
- Total cash to close$54,223
An estimate — your lender's Loan Estimate is the real number. Doesn't include any repairs needed before renting.
Where it sits
3305 Elliot Ave in context — the streets, water and amenities around it.
Property details
3305 Elliot Ave · Minneapolis MN 55407
- Beds
- 3
- Baths
- 2
- Square feet
- 1,752
- Price / sqft
- $106
- Home type
- Duplex
- Days on market
- 68 days
- HOA
- Not reported
- Status
- For Sale
Status per the source feed — contingent/pending changes can lag the MLS by up to ~12 hours.