Minneapolis Lake St. Rent after Riots

[Halle Hughes]

I have recently acquired my first duplex on Park Ave adjacent to Lake Street where there is quite a bit of destruction from the recent riots in Minneapolis, Minnesota. Prior to to this, the four-bedroom unit had been renting for $2000 a month. I am wondering — is this price point is still attainable/realistic considering the state of the neighborhood following these events? Any advice and insight is greatly appreciated!

[Daniel Anshus]

Hi @Halle Hughes Good to see a fellow SCSU real estate major on BP! I did not know you were an investor! That is awesome. I would say that it is still a sought after area and rental prices are not going to drop due to the destruction. Obviously, if it keeps going on for a long time then there is the possibility that it does become less desirable, however I would not expect that to happen. Even if the area becomes less desireable rental prices in Minneapolis will continue to rise as the affordable housing situation gets worse and worse. Hope this helps, and would love to get together and chat about your REI goals.