How much does it cost to rent at Riverside Flats?

Rent at Riverside Flats in Minneapolis, MN ranges from $1,135 to $1,500 per month as of July 26, 2026.

What is the average 1 bed rent at Riverside Flats?

The average 1 bed apartment at Riverside Flats costs $1,210/month, starting from $1,135.

What is the average 2 bed rent at Riverside Flats?

The average 2 bed apartment at Riverside Flats costs $1,488/month, starting from $1,475.

Is Riverside Flats a good apartment complex?

Riverside Flats has a 2.9-star rating on Google based on 25 reviews.

Updated today at 10:38 a.m. CT

Riverside Flats

Name: Riverside Flats
Address: 940 Franklin Terrace, Minneapolis, MN, 55406, US
Telephone: (612) 568-1653
Rating: 2.9

940 Franklin Terrace, Minneapolis, MN 55406, USA

2.9 (25 reviews) Official Website (612) 568-1653

Live pricing, refreshed today at 10:38 a.m. CT

Units Listed

$1,135

Starting at

$1,349

Average

$1,500

Highest

$1.97

Per Sq Ft

PRO

Avg Days Listed

How does this compare? View Howe rent trends

Beds

Pricing by Bedroom

1 Bed

$1,210

from $1,135 · 4 units

~621 sqft avg

2 Bed

$1,488

from $1,475 · 4 units

~751 sqft avg

Rent Distribution

Price by Bedroom

Price Breakdown

Rent by Unit

Price vs. Square Footage

Price History

Timeframe

Property Price Trend

Units with Price Changes (1)

Last 15 days

Estimated Building Revenue

How is this calculated?

Rental revenue model

We follow each unit's listing activity at this building every day. When a unit stops being listed, we assume it leased at its last listed rent, adjusted for any advertised move-in special. Revenue is the sum of those assumed lease rents across the building's occupied units.

Building size: stated by the property itself
Occupancy: building size minus currently listed units
Rents: observed lease-offs first, current asking rents as fallback

These are research estimates, not financial statements from the operator. Confidence: high (building size is reported).

Est. Monthly Revenue

$28K

$342K annual run rate

Est. Occupancy

72%

of about 29 units (reported building size)

Effective Rent on New Leases

$1,357

vs $1,349 current asking

Recent Lease Activity

21 units tracked; 13 assumed leased, 8 listed now

See which units leased, when they left the market, and the rent they leased at.

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Property Intelligence

How is this calculated?

Negotiation Leverage Score (0-100)

Based on 5 observable signals from the property's listing data:

+30 pts: 15+ units currently listed
+25 pts: Active move-in specials
+20 pts: Deep discounts (>$150/mo off)
+15 pts: 5+ distinct floor plans
+10 pts: 25+ units listed

All signals come directly from the property's own listings. Occupancy and building size appear only in the Estimated Building Revenue section, and only when the building size is stated by the property or our unit-level observation history is deep enough to model it.

Listed Units

Moderate availability

0 floor plans

Move-in Specials

No active promotions

Negotiation Leverage

Limited leverage

High demand property with less room to negotiate on price.

Price vs. Minneapolis, MN

Similar

Hub Minneapolis

$639 Stadium Village Flats

$699 St. Anthony Mills

$1,020 The Station on Washington

$1,025

Riverside Flats

$1,135

The Flats at Malcolm Yards

$1,201 Thornton Place Apartments

$1,395

Comparing this building against 6 similar Minneapolis, MN apartments by price. Click any bar to view that building.

See rent trends on the Minneapolis, MN map Explore Minneapolis, MN on the interactive map

Available Units

Sort

8 units

1 Bed

$1,135/mo

535 ft² · $2.12/ft\u00B2 · #Rent:| $1,235.00|Apply|940 Franklin Ter., # 106

1 Bed

$1,235/mo

670 ft² · $1.84/ft\u00B2 · #235.00|Apply|Remodeled|940 Franklin Ter., # 408

1 Bed

$1,235/mo

640 ft² · $1.93/ft\u00B2 · #Rent:| $1,475.00|Apply|940 Franklin Ter., # 310

1 Bed

$1,235/mo

640 ft² · $1.93/ft\u00B2 · #Rent:| $1,475.00|Apply|940 Franklin Ter., # 411

2 Bed

$1,475/mo

740 ft² · $1.99/ft\u00B2 · #1,500.00|Apply|Balcony|940 Franklin Ter., # 205

2 Bed

$1,475/mo

755 ft² · $1.95/ft\u00B2 · #1,500.00|Apply|Balcony|940 Franklin Ter., # 303

2 Bed

$1,500/mo

755 ft² · $1.99/ft\u00B2 · #1,500.00|Apply|Balcony|940 Franklin Ter., # 403

2 Bed

$1,500/mo

755 ft² · $1.99/ft\u00B2 · #Rent Special| Apply Now|940 Franklin Ter., # 401

Unit	Floor Plan	Bed/Bath	Sqft	↑ Price	$/Sqft	Available	Listed
Rent:\| $1,235.00\|Apply\|940 Franklin Ter., # 106	--	1bd / --ba	535	$1,135	$2.12	--	Pro
235.00\|Apply\|Remodeled\|940 Franklin Ter., # 408	--	1bd / --ba	670	$1,235	$1.84	--	Pro
Rent:\| $1,475.00\|Apply\|940 Franklin Ter., # 310	--	1bd / --ba	640	$1,235	$1.93	--	Pro
Rent:\| $1,475.00\|Apply\|940 Franklin Ter., # 411	--	1bd / --ba	640	$1,235	$1.93	--	Pro
1,500.00\|Apply\|Balcony\|940 Franklin Ter., # 205	--	2bd / --ba	740	$1,475	$1.99	--	Pro
1,500.00\|Apply\|Balcony\|940 Franklin Ter., # 303	--	2bd / --ba	755	$1,475	$1.95	--	Pro
1,500.00\|Apply\|Balcony\|940 Franklin Ter., # 403	--	2bd / --ba	755	$1,500	$1.99	--	Pro
Rent Special\| Apply Now\|940 Franklin Ter., # 401	--	2bd / --ba	755	$1,500	$1.99	--	Pro

Train activity

Train activity nearby

Freight line 2,407 ft away

Trains pass infrequently
No road crossing within earshot. Horns unlikely.
Operator: MNNR

Why this matters →

City Club

Resident Notes & Access Codes

Real tips from people who lived at this property: what leasing and daily living are actually like, plus the gate, parking, and entry codes you only learn once you move in. See all Minneapolis, MN notes

No resident notes for this property yet.