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Hiawatha

Minneapolis neighborhood. Every 2–4 unit listing here, run through the same numbers at 20% down and 7%.

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Neighborhood profile

Listings we track
2
Median price per unit
$196K
Typical cash flow
−$352
median per month, 20% down
Crime, last 12 months
59 per 1,000
370 incidents · −10% vs. prior year
Renter households
37%
Median gross rent
$1,485
all unit sizes
Median household income
$100K
Rent rules
No cap
Rents can reset to market at renewal

Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities). Per-resident rates use 2020 Census population. Census figures: ACS 2020–2024 5-year, combining 2 tract(s) centered in this neighborhood; medians are household-weighted averages of tract medians.

Map

Top picks

Ranked on real rent estimates (nearby comparable rentals or our own research). Listings with a serious red flag are under Proceed with caution instead, however good the numbers look.

Duplex
−$127/mo cash flow
Close · cap 5.9% · 20% down
$335,000
2 units3 bd2 ba1,335 sqft
3609 E 42nd St, Minneapolis
Hiawatha
Rents: RentCast comps
Duplex
−$577/mo cash flow
Overpriced · cap 4.8% · 20% down
$449,000
2 units4 bd3 ba2,484 sqft
4230 39th Ave S, Minneapolis
Hiawatha
Rents: 8 rentals within 3 mi

Ways to slice it

Best cash flow now

Monthly cash flow at 20% down.

  1. 3609 E 42nd St −$127/mo
  2. 4230 39th Ave S −$577/mo

Best long-term

Year-30 wealth vs. the same money in stocks.

  1. 3609 E 42nd St 2.08× stocks
  2. 4230 39th Ave S 1.25× stocks

Value-add

Under-rented, needs work, or room to negotiate.

  1. 3609 E 42nd St Long time on market: room to negotiate.
  2. 4230 39th Ave S The seller bought for $102,000 in May 1996, so they can take a lower offer and still come out well ahead.

Proceed with caution

Decent numbers, serious flags.

Nothing here right now.

All listings

2 listings. Filter by price or units, or switch the down payment.

  1. 3609 E 42nd St

    $335,000 · 2 units
    Close
    Cash flow −$127/mo Cap 5.9% Break-even price $311K Yr 30 vs stocks 2.08× Positive in yr 4

    Nicely finished but priced a bit above what the rents it can likely earn support; it works at a somewhat lower price.

  2. 4230 39th Ave S

    $449,000 · 2 units
    Overpriced
    Cash flow −$577/mo Cap 4.8% Break-even price $341K Yr 30 vs stocks 1.25× Positive in yr 12

    Nicely updated on the outside, but at $449K the rents can't support it; only makes sense as an owner-occupied house-hack at a much lower price.

Monthly cash flow

−$1,000−$500$0break-even3609 E 42nd St−$1274230 39th Ave S−$577

What's changing

Nothing curated for this neighborhood yet.