309 Washington Ave S

Far off

37 photos

Photos courtesy of RE/MAX ADVANTAGE PLUS, via Realtor.com.

Asking price: $499,900
Monthly cash flow: −$1,181
Estimated rent: $3,200/mo
Break-even price: $277,955

Adjust the numbers See the full breakdown

From the listing

Excellent opportunity to own a well-maintained side-by-side duplex in a highly convenient Hopkins/Edina location. Ideal for investors or owner-occupants, this one-level duplex offers spacious living areas, hardwood floors, private rear patios, and separate basements with in-unit laundry and abundant storage. Major exterior improvements provide peace of mind, including a brand-new roof and siding completed in 2025. Unit 311 features a newer furnace and central air system installed in 2019. Double-pane windows throughout tilt inward for easy cleaning and enhanced energy efficiency. The unfinished basement space offers potential for additional finished square footage, and Unit 311 may accommodate a future third bedroom with the addition of an egress window. Conveniently located near shopping, dining, parks, bike trails, and major commuter routes, this property offers strong rental appeal and long-term value. A rare opportunity to own a move-in-ready duplex with significant recent updates in a desirable location.

Listing courtesy of RE/MAX ADVANTAGE PLUS (Jim Diorio). Description from Realtor.com, MLS #7070693. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $499,900
Cash to close: $114,977
Price per unit: $249,950
GRM: 13.0

Each month

Cash flow: −$1,181/mo
Cash-on-cash: −12.3%
Cap rate: 3.6%
DSCR: 0.56×

Break-even

Price that breaks even: $277,955
Rent that breaks even: $4,714/mo

Long run

Year 30: property vs stocks: $1.16M vs $1.71M
Cash flow turns positive: year 24

Monthly

Monthly breakdown

Rent	$3,200
Vacancy (6%)	−$192
Collected	$3,008
Property tax Listing	−$592
Insurance Estimate	−$194
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$256
Capital reserve (8% of rent)	−$256
Net operating income	$1,479
Mortgage (principal + interest)	−$2,661
Cash flow	−$1,181
Principal paid down (equity, not cash)	$339

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $449,910 of principal by year 30	$0
Plus rental profits, invested at 7%$2,227 of profit by year 30, before investment growth	$2,272
What you'd walk away with	$1,142,857
If you put the same money in stocks
Cash to close ($64,987) invested at 7%	$494,698
Monthly shortfalls ($298,077 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,274,649
What you'd walk away with	$1,769,346
Building minus stocks	−$626,489

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $449,910 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	$1,140,585
If you put the same money in stocks
Cash to close ($64,987) invested at 7%	$494,698
Monthly shortfalls ($450,406 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,693,481
What you'd walk away with	$2,188,179
Building minus stocks	−$1,047,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 of principal by year 30	$0
Plus rental profits, invested at 7%$4,112 of profit by year 30, before investment growth	$4,272
What you'd walk away with	$1,122,041
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($278,137 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,207,036
What you'd walk away with	$1,691,838
Building minus stocks	−$569,797

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $440,910 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	$1,117,769
If you put the same money in stocks
Cash to close ($63,687) invested at 7%	$484,802
Monthly shortfalls ($428,580 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,623,868
What you'd walk away with	$2,108,670
Building minus stocks	−$990,901

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $399,920 of principal by year 30	$0
Plus rental profits, invested at 7%$20,086 of profit by year 30, before investment growth	$22,774
What you'd walk away with	$1,163,359
If you put the same money in stocks
Cash to close ($114,977) invested at 7%	$875,234
Monthly shortfalls ($182,709 total by yr 30) investedThe money you'd have put into the building while it lost money	$831,152
What you'd walk away with	$1,706,386
Building minus stocks	−$543,027

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $399,920 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	$1,140,585
If you put the same money in stocks
Cash to close ($114,977) invested at 7%	$875,234
Monthly shortfalls ($317,178 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,229,482
What you'd walk away with	$2,104,716
Building minus stocks	−$964,131

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 of principal by year 30	$0
Plus rental profits, invested at 7%$24,656 of profit by year 30, before investment growth	$28,460
What you'd walk away with	$1,146,229
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($168,118 total by yr 30) investedThe money you'd have put into the building while it lost money	$776,506
What you'd walk away with	$1,634,233
Building minus stocks	−$488,004

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $391,920 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	$1,117,769
If you put the same money in stocks
Cash to close ($112,677) invested at 7%	$857,726
Monthly shortfalls ($298,018 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,169,151
What you'd walk away with	$2,026,877
Building minus stocks	−$909,108

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $374,925 of principal by year 30	$0
Plus rental profits, invested at 7%$36,174 of profit by year 30, before investment growth	$43,521
What you'd walk away with	$1,184,106
If you put the same money in stocks
Cash to close ($139,972) invested at 7%	$1,065,503
Monthly shortfalls ($138,932 total by yr 30) investedThe money you'd have put into the building while it lost money	$663,401
What you'd walk away with	$1,728,903
Building minus stocks	−$544,797

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,389
Minus 6% selling cost	−$72,803
Minus loan still owedTenants' rent paid down all $374,925 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	$1,140,585
If you put the same money in stocks
Cash to close ($139,972) invested at 7%	$1,065,503
Monthly shortfalls ($257,313 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,040,985
What you'd walk away with	$2,106,487
Building minus stocks	−$965,902

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 of principal by year 30	$0
Plus rental profits, invested at 7%$42,052 of profit by year 30, before investment growth	$51,591
What you'd walk away with	$1,169,360
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($126,846 total by yr 30) investedThe money you'd have put into the building while it lost money	$614,911
What you'd walk away with	$1,659,099
Building minus stocks	−$489,739

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,189,116
Minus 6% selling cost	−$71,347
Minus loan still owedTenants' rent paid down all $367,425 of principal by year 30	$0
Plus rental profits, invested at 7%$511 of profit by year 30, before investment growth	$511
What you'd walk away with	$1,118,280
If you put the same money in stocks
Cash to close ($137,172) invested at 7%	$1,044,188
Monthly shortfalls ($239,862 total by yr 30) investedThe money you'd have put into the building while it lost money	$984,936
What you'd walk away with	$2,029,124
Building minus stocks	−$910,844

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.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.16M, stocks $1.71M. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,600/mo · range $1,400–$1,825 · 18 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
9904 Excelsior Blvd, Hopkins	$1,325	2 / 1	800	0.3 mi	2025-01-03	Apartment
50 8th Ave S, Hopkins	$2,280	2 / 2	1,031	0.5 mi	2024-04-12	Apartment
5180 Lincoln Dr, Edina	$1,550	2 / 1	1,200	0.6 mi	2025-04-10	Apartment
34 12th Ave N, Hopkins	$1,425	2 / 1	1,253	0.8 mi	2026-09-11	Apartment
101 Blake Rd N, Hopkins	$1,345	2 / 1.5	950	0.9 mi	2026-05-27	Apartment
460 5th Ave N, Hopkins	$1,565	2 / 2	1,105	0.9 mi	2025-01-03	Apartment
601 N Van Buren Trl, Hopkins	$2,239	2 / 1.5	1,300	0.9 mi	2024-04-12	Apartment
400-500 Cambridge St, Hopkins	$1,795	2 / 2	1,214	1.0 mi	2025-09-26	Apartment
320 Blake Rd N, Hopkins	$1,559	2 / 1.5	980	1.0 mi	2026-07-21	Apartment
1045 Hiawatha Ave, Hopkins	$1,625	2 / 2	1,150	1.1 mi	2026-05-01	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 309 WASHINGTON AVE S
mediumAsking is $221,945 above the price where cash flow breaks even ($277,955) at the default scenario. Based on: Derived: price $499,900 vs. break-even $277,955

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 135 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 Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$7,108
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,331
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. base rate	8% / 8%

Status history

2026-05-23New at $499,900

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$7,108
County	Hennepin
Parcel number	3011721220068

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Edina on rental licensing before you buy.