2915 N 3rd St

Minneapolis, MN · Hawthorne · Listing office ↗ · Find the listing ↗

Overpriced

Asking price: $305,000
Monthly cash flow: −$514
Estimated rent: $2,700/mo
Break-even price: $208,467

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

2 bed / 1 bath (est.)$1,350 $1,150–$1,550
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: $305,000
Monthly cash flow: −$514
Cash to close: $70,150
Cap rate: 4.4%
Cash-on-cash: −8.8%
DSCR: 0.68×
GRM: 9.4
Price per unit: $152,500
Price that breaks even: $208,467
Rent that breaks even: $3,367/mo
Cash flow turns positive: year 17
Year 30: property vs stocks: $770K vs $812K

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Estimate	−$534
Insurance Estimate	−$206
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (9% of rent)	−$243
Net operating income	$1,110
Mortgage (principal + interest)	−$1,623
Cash flow	−$514
Principal paid down (equity, not cash)	$207

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 $770K, stocks $812K. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $274,500 of principal by year 30	$0
Plus rental profits, invested at 7%$25,845 of profit by year 30, before investment growth	$31,188
What you'd walk away with	$727,084
If you put the same money in stocks
Cash to close ($39,650) invested at 7%	$301,826
Monthly shortfalls ($105,167 total by yr 30) investedThe money you'd have put into the building while it lost money	$517,759
What you'd walk away with	$819,584
Building minus stocks	−$92,500

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $274,500 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	$695,896
If you put the same money in stocks
Cash to close ($39,650) invested at 7%	$301,826
Monthly shortfalls ($209,729 total by yr 30) investedThe money you'd have put into the building while it lost money	$841,878
What you'd walk away with	$1,143,703
Building minus stocks	−$447,807

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $265,500 of principal by year 30	$0
Plus rental profits, invested at 7%$33,210 of profit by year 30, before investment growth	$41,471
What you'd walk away with	$714,551
If you put the same money in stocks
Cash to close ($38,350) invested at 7%	$291,930
Monthly shortfalls ($90,707 total by yr 30) investedThe money you'd have put into the building while it lost money	$458,429
What you'd walk away with	$750,359
Building minus stocks	−$35,808

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $265,500 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	$673,080
If you put the same money in stocks
Cash to close ($38,350) invested at 7%	$291,930
Monthly shortfalls ($187,903 total by yr 30) investedThe money you'd have put into the building while it lost money	$772,265
What you'd walk away with	$1,064,195
Building minus stocks	−$391,115

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $244,000 of principal by year 30	$0
Plus rental profits, invested at 7%$54,734 of profit by year 30, before investment growth	$74,371
What you'd walk away with	$770,267
If you put the same money in stocks
Cash to close ($70,150) invested at 7%	$534,000
Monthly shortfalls ($52,771 total by yr 30) investedThe money you'd have put into the building while it lost money	$277,845
What you'd walk away with	$811,845
Building minus stocks	−$41,578

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $244,000 of principal by year 30	$0
Plus rental profits, invested at 7%$2,547 of profit by year 30, before investment growth	$2,664
What you'd walk away with	$698,560
If you put the same money in stocks
Cash to close ($70,150) invested at 7%	$534,000
Monthly shortfalls ($130,991 total by yr 30) investedThe money you'd have put into the building while it lost money	$561,446
What you'd walk away with	$1,095,445
Building minus stocks	−$396,885

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $236,000 of principal by year 30	$0
Plus rental profits, invested at 7%$64,276 of profit by year 30, before investment growth	$90,334
What you'd walk away with	$763,413
If you put the same money in stocks
Cash to close ($67,850) invested at 7%	$516,492
Monthly shortfalls ($43,153 total by yr 30) investedThe money you'd have put into the building while it lost money	$233,477
What you'd walk away with	$749,968
Building minus stocks	$13,445

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $236,000 of principal by year 30	$0
Plus rental profits, invested at 7%$5,221 of profit by year 30, before investment growth	$5,660
What you'd walk away with	$678,739
If you put the same money in stocks
Cash to close ($67,850) invested at 7%	$516,492
Monthly shortfalls ($114,504 total by yr 30) investedThe money you'd have put into the building while it lost money	$504,110
What you'd walk away with	$1,020,601
Building minus stocks	−$341,862

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $228,750 of principal by year 30	$0
Plus rental profits, invested at 7%$73,717 of profit by year 30, before investment growth	$107,008
What you'd walk away with	$802,904
If you put the same money in stocks
Cash to close ($85,400) invested at 7%	$650,087
Monthly shortfalls ($35,230 total by yr 30) investedThe money you'd have put into the building while it lost money	$195,476
What you'd walk away with	$845,563
Building minus stocks	−$42,659

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $228,750 of principal by year 30	$0
Plus rental profits, invested at 7%$8,432 of profit by year 30, before investment growth	$9,432
What you'd walk away with	$705,329
If you put the same money in stocks
Cash to close ($85,400) invested at 7%	$650,087
Monthly shortfalls ($100,350 total by yr 30) investedThe money you'd have put into the building while it lost money	$453,208
What you'd walk away with	$1,103,294
Building minus stocks	−$397,965

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $221,250 of principal by year 30	$0
Plus rental profits, invested at 7%$84,224 of profit by year 30, before investment growth	$126,508
What you'd walk away with	$799,588
If you put the same money in stocks
Cash to close ($82,600) invested at 7%	$628,772
Monthly shortfalls ($27,773 total by yr 30) investedThe money you'd have put into the building while it lost money	$158,415
What you'd walk away with	$787,188
Building minus stocks	$12,400

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$716,042
Minus 6% selling cost	−$42,963
Minus loan still owedTenants' rent paid down all $221,250 of principal by year 30	$0
Plus rental profits, invested at 7%$12,614 of profit by year 30, before investment growth	$14,610
What you'd walk away with	$687,689
If you put the same money in stocks
Cash to close ($82,600) invested at 7%	$628,772
Monthly shortfalls ($86,569 total by yr 30) investedThe money you'd have put into the building while it lost money	$401,824
What you'd walk away with	$1,030,596
Building minus stocks	−$342,907

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

mediumAbout 82 m from I 94: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 94) at 82 m
mediumAsking is $96,533 above the price where cash flow breaks even ($208,467) at the default scenario. Based on: Derived: price $305,000 vs. break-even $208,467

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 113 days on market

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 Estimateestimate. No tax record found; 2.1% of price.	$6,405
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,468
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 1906: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	duplex
Living units	2
Year built	1906
Market value (2026)	$236,200
Property tax	$3,894
Special assessments	none
Homestead	no
Last sale	2022-10-01 · $292,000

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 82 m away.

Crime in Hawthorne

446 incidents in the last 12 months (79 per 1,000 residents), −1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-06-11New at $305,000