Minneapolis › Lyndale

3045 Harriet Ave

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

Overpriced

Asking price: $350,000
Monthly cash flow: −$575
Estimated rent: $3,000/mo
Break-even price: $242,034

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
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: $350,000
Monthly cash flow: −$575
Cash to close: $80,500
Cap rate: 4.4%
Cash-on-cash: −8.6%
DSCR: 0.69×
GRM: 9.7
Price per unit: $175,000
Price that breaks even: $242,034
Rent that breaks even: $3,746/mo
Cash flow turns positive: year 16
Year 30: property vs stocks: $898K vs $914K

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$601
Insurance Estimate	−$191
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,288
Mortgage (principal + interest)	−$1,863
Cash flow	−$575
Principal paid down (equity, not cash)	$237

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 $898K, stocks $914K. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 of principal by year 30	$0
Plus rental profits, invested at 7%$36,238 of profit by year 30, before investment growth	$44,638
What you'd walk away with	$843,207
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($114,324 total by yr 30) investedThe money you'd have put into the building while it lost money	$571,391
What you'd walk away with	$917,748
Building minus stocks	−$74,541

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $315,000 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	$798,569
If you put the same money in stocks
Cash to close ($45,500) invested at 7%	$346,358
Monthly shortfalls ($222,982 total by yr 30) investedThe money you'd have put into the building while it lost money	$921,538
What you'd walk away with	$1,267,896
Building minus stocks	−$469,327

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 of principal by year 30	$0
Plus rental profits, invested at 7%$44,028 of profit by year 30, before investment growth	$55,754
What you'd walk away with	$831,507
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($100,288 total by yr 30) investedThe money you'd have put into the building while it lost money	$512,894
What you'd walk away with	$849,356
Building minus stocks	−$17,849

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 of principal by year 30	$0
Plus rental profits, invested at 7%$465 of profit by year 30, before investment growth	$465
What you'd walk away with	$776,218
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($201,621 total by yr 30) investedThe money you'd have put into the building while it lost money	$852,390
What you'd walk away with	$1,188,852
Building minus stocks	−$412,634

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 of principal by year 30	$0
Plus rental profits, invested at 7%$71,537 of profit by year 30, before investment growth	$98,976
What you'd walk away with	$897,546
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($56,345 total by yr 30) investedThe money you'd have put into the building while it lost money	$300,865
What you'd walk away with	$913,651
Building minus stocks	−$16,105

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $280,000 of principal by year 30	$0
Plus rental profits, invested at 7%$7,125 of profit by year 30, before investment growth	$7,766
What you'd walk away with	$806,336
If you put the same money in stocks
Cash to close ($80,500) invested at 7%	$612,787
Monthly shortfalls ($136,829 total by yr 30) investedThe money you'd have put into the building while it lost money	$604,440
What you'd walk away with	$1,217,227
Building minus stocks	−$410,891

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$81,483 of profit by year 30, before investment growth	$116,035
What you'd walk away with	$891,788
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($47,131 total by yr 30) investedThe money you'd have put into the building while it lost money	$257,593
What you'd walk away with	$852,871
Building minus stocks	$38,917

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$10,764 of profit by year 30, before investment growth	$12,064
What you'd walk away with	$787,817
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($121,307 total by yr 30) investedThe money you'd have put into the building while it lost money	$548,407
What you'd walk away with	$1,143,685
Building minus stocks	−$355,868

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 of principal by year 30	$0
Plus rental profits, invested at 7%$94,230 of profit by year 30, before investment growth	$138,999
What you'd walk away with	$937,568
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($37,124 total by yr 30) investedThe money you'd have put into the building while it lost money	$208,913
What you'd walk away with	$954,914
Building minus stocks	−$17,346

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,542
Minus 6% selling cost	−$50,973
Minus loan still owedTenants' rent paid down all $262,500 of principal by year 30	$0
Plus rental profits, invested at 7%$16,190 of profit by year 30, before investment growth	$18,823
What you'd walk away with	$817,392
If you put the same money in stocks
Cash to close ($98,000) invested at 7%	$746,001
Monthly shortfalls ($103,980 total by yr 30) investedThe money you'd have put into the building while it lost money	$483,522
What you'd walk away with	$1,229,523
Building minus stocks	−$412,131

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$105,119 of profit by year 30, before investment growth	$159,732
What you'd walk away with	$935,485
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($30,050 total by yr 30) investedThe money you'd have put into the building while it lost money	$173,086
What you'd walk away with	$897,773
Building minus stocks	$37,712

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$21,272 of profit by year 30, before investment growth	$25,467
What you'd walk away with	$801,220
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($91,099 total by yr 30) investedThe money you'd have put into the building while it lost money	$433,606
What you'd walk away with	$1,158,293
Building minus stocks	−$357,073

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 $107,966 above the price where cash flow breaks even ($242,034) at the default scenario. Based on: Derived: price $350,000 vs. break-even $242,034

Opportunities

None found.

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)	$7,215
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,287
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)	$379,900
Property tax	$7,215
Special assessments	none
Homestead	no
Last sale	2003-05-01 · $202,000

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 793 m away.

Crime in Lyndale

475 incidents in the last 12 months (66 per 1,000 residents), −2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-09-24New at $350,000