2309 Buchanan St NE

Minneapolis, MN · Windom Park · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $395,000
Monthly cash flow: −$707
Estimated rent: $3,300/mo
Break-even price: $262,243

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
3 bed / 1 bath (est.)$1,650 $1,400–$1,900

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: $395,000
Monthly cash flow: −$707
Cash to close: $90,850
Cap rate: 4.2%
Cash-on-cash: −9.3%
DSCR: 0.66×
GRM: 10.0
Price per unit: $197,500
Price that breaks even: $262,243
Rent that breaks even: $4,218/mo
Cash flow turns positive: year 18
Year 30: property vs stocks: $983K vs $1.09M

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$694
Insurance Estimate	−$222
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,396
Mortgage (principal + interest)	−$2,102
Cash flow	−$707
Principal paid down (equity, not cash)	$267

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 $983K, stocks $1.09M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $355,500 of principal by year 30	$0
Plus rental profits, invested at 7%$27,377 of profit by year 30, before investment growth	$32,307
What you'd walk away with	$933,549
If you put the same money in stocks
Cash to close ($51,350) invested at 7%	$390,889
Monthly shortfalls ($148,267 total by yr 30) investedThe money you'd have put into the building while it lost money	$716,373
What you'd walk away with	$1,107,263
Building minus stocks	−$173,714

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $355,500 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	$901,243
If you put the same money in stocks
Cash to close ($51,350) invested at 7%	$390,889
Monthly shortfalls ($280,275 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,118,330
What you'd walk away with	$1,509,220
Building minus stocks	−$607,977

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $346,500 of principal by year 30	$0
Plus rental profits, invested at 7%$33,907 of profit by year 30, before investment growth	$41,030
What you'd walk away with	$919,456
If you put the same money in stocks
Cash to close ($50,050) invested at 7%	$380,993
Monthly shortfalls ($132,971 total by yr 30) investedThe money you'd have put into the building while it lost money	$655,483
What you'd walk away with	$1,036,477
Building minus stocks	−$117,021

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $346,500 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	$878,426
If you put the same money in stocks
Cash to close ($50,050) invested at 7%	$380,993
Monthly shortfalls ($258,449 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,048,717
What you'd walk away with	$1,429,711
Building minus stocks	−$551,285

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $316,000 of principal by year 30	$0
Plus rental profits, invested at 7%$61,738 of profit by year 30, before investment growth	$81,824
What you'd walk away with	$983,066
If you put the same money in stocks
Cash to close ($90,850) invested at 7%	$691,573
Monthly shortfalls ($77,357 total by yr 30) investedThe money you'd have put into the building while it lost money	$399,257
What you'd walk away with	$1,090,831
Building minus stocks	−$107,765

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $316,000 of principal by year 30	$0
Plus rental profits, invested at 7%$2,597 of profit by year 30, before investment growth	$2,697
What you'd walk away with	$903,939
If you put the same money in stocks
Cash to close ($90,850) invested at 7%	$691,573
Monthly shortfalls ($177,601 total by yr 30) investedThe money you'd have put into the building while it lost money	$754,394
What you'd walk away with	$1,445,968
Building minus stocks	−$542,029

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $308,000 of principal by year 30	$0
Plus rental profits, invested at 7%$70,552 of profit by year 30, before investment growth	$95,920
What you'd walk away with	$974,346
If you put the same money in stocks
Cash to close ($88,550) invested at 7%	$674,065
Monthly shortfalls ($67,010 total by yr 30) investedThe money you'd have put into the building while it lost money	$353,022
What you'd walk away with	$1,027,087
Building minus stocks	−$52,741

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $308,000 of principal by year 30	$0
Plus rental profits, invested at 7%$4,843 of profit by year 30, before investment growth	$5,154
What you'd walk away with	$883,580
If you put the same money in stocks
Cash to close ($88,550) invested at 7%	$674,065
Monthly shortfalls ($160,686 total by yr 30) investedThe money you'd have put into the building while it lost money	$696,521
What you'd walk away with	$1,370,586
Building minus stocks	−$487,006

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $296,250 of principal by year 30	$0
Plus rental profits, invested at 7%$84,740 of profit by year 30, before investment growth	$119,835
What you'd walk away with	$1,021,077
If you put the same money in stocks
Cash to close ($110,600) invested at 7%	$841,915
Monthly shortfalls ($53,056 total by yr 30) investedThe money you'd have put into the building while it lost money	$288,326
What you'd walk away with	$1,130,241
Building minus stocks	−$109,164

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$958,769
Minus 6% selling cost	−$57,526
Minus loan still owedTenants' rent paid down all $296,250 of principal by year 30	$0
Plus rental profits, invested at 7%$9,438 of profit by year 30, before investment growth	$10,437
What you'd walk away with	$911,680
If you put the same money in stocks
Cash to close ($110,600) invested at 7%	$841,915
Monthly shortfalls ($137,139 total by yr 30) investedThe money you'd have put into the building while it lost money	$613,192
What you'd walk away with	$1,455,107
Building minus stocks	−$543,427

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $288,750 of principal by year 30	$0
Plus rental profits, invested at 7%$94,553 of profit by year 30, before investment growth	$137,220
What you'd walk away with	$1,015,646
If you put the same money in stocks
Cash to close ($107,800) invested at 7%	$820,601
Monthly shortfalls ($44,906 total by yr 30) investedThe money you'd have put into the building while it lost money	$249,151
What you'd walk away with	$1,069,752
Building minus stocks	−$54,106

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$934,496
Minus 6% selling cost	−$56,070
Minus loan still owedTenants' rent paid down all $288,750 of principal by year 30	$0
Plus rental profits, invested at 7%$13,227 of profit by year 30, before investment growth	$15,014
What you'd walk away with	$893,440
If you put the same money in stocks
Cash to close ($107,800) invested at 7%	$820,601
Monthly shortfalls ($122,964 total by yr 30) investedThe money you'd have put into the building while it lost money	$561,209
What you'd walk away with	$1,381,810
Building minus stocks	−$488,370

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 $132,757 above the price where cash flow breaks even ($262,243) at the default scenario. Based on: Derived: price $395,000 vs. break-even $262,243
low$150 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 1202924310040: special assessments (current) = $149.63

Opportunities

The seller bought for $79,500 in Sep 2000, so they can take a lower offer and still come out well ahead. Public record: Hennepin County parcel 1202924310040: last sale 2000-09-01, $79,500
Long time on market: room to negotiate. Based on: Listing data: 150 days on market, 2 price cuts

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)	$8,322
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,660
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 1900: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$438,200
Property tax	$8,322
Special assessments	$150
Homestead	no
Last sale	2000-09-01 · $79,500

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1107 m away.

Crime in Windom Park

193 incidents in the last 12 months (34 per 1,000 residents), +41% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-05-05Price cut at $395,000 (was $445,000) · from listing history
2025-10-16Price cut at $445,000 (was $449,900) · from listing history
2026-05-05New at $395,000