1415 44th Ave N

Duplex · 2 units: 2 bed / 1.5 bath ×2 unit split estimated · 2,474 sq ft

Minneapolis, MN · Webber - Camden · View the listing ↗

Cash flows

42 photos

Photos, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.

Asking price: $265,000
Monthly cash flow: $196
Estimated rent: $3,150/mo
Break-even price: $301,831

Adjust the numbers See the full breakdown

First look

This is a 1901 Minneapolis up/down listed at $265K with no rents, no lease info and no repair details in the description. Our numbers show about +$196/month cash flow at asking, a 7.3% cap rate, and a break-even price near $302K, so it works at today's rates even at the asking price. It has sat 143 days, which gives room to negotiate. The photos show dated finishes and what looks like moisture staining in the lower level, so check that first. Also confirm the rental license: the city has one unit licensed, a Tier 2 grade, and $2,307 in special assessments. Worth a showing if the basement and licensing check out, and the cash flow is thin enough that repairs could erase it.

Things to consider

Numbers work at asking, but thinly Cash flow is slightly positive and break-even is about $37K above the list price. Repairs or vacancy could erase that cushion, so any offer should still leave room.
License covers 1 unit, Tier 2 An unlicensed second unit risks fines and limits legal rent. Tier 2 means more frequent inspections and repair orders.
Special assessments of $2,307 These add to the carrying cost unless the seller pays them off at closing.
Dated interiors and possible basement moisture Carpet, kitchens and lower-level walls suggest meaningful rehab and reserves before rents can rise.From photo 9
Rent estimates are modest Our estimate is about $1,575 per unit with no stated rents, so income is unverified.

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.

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: $265,000
Cash to close: $60,950
Price per unit: $132,500
GRM: 7.0

Each month

Cash flow: $196/mo
Cash-on-cash: 3.9%
Cap rate: 7.3%
DSCR: 1.14×

Break-even

Price that breaks even: $301,831
Rent that breaks even: $2,895/mo

Long run

Year 30: property vs stocks: $1.43M vs $464K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Listing	−$367
Insurance Estimate	−$222
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$252
Capital reserve (9% of rent)	−$284
Net operating income	$1,606
Mortgage (principal + interest)	−$1,410
Cash flow	$196
Principal paid down (equity, not cash)	$179

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

If you buy this building$1,429,293

Your equity when you sell: $604,632
Rental profits, invested at 7%: $824,662

Same money in stocks$463,967

Cash to close, invested at 7%: $463,967

The building comes out $965,326 ahead after 30 years.

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 $1.43M, stocks $464K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-06. 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 $1,575/mo · range $1,300–$1,775 · 6 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
4347 Fremont Ave N Apt 2, Minneapolis	$1,500	2 / 1	1,087	0.1 mi	2026-07-22	Duplex triplex
4329-4331 Thomas Ave N, Minneapolis	$1,750	2 / 1	870	0.8 mi	2026-07-28	Apartment
3619 Fremont Ave N Apt 5, Minneapolis	$1,075	2 / 1	800	1.0 mi	—	Apartment
5301 Russell Ave N, Minneapolis	$1,685	2 / 1	1,200	1.3 mi	2025-05-06	Apartment
3401 47th Ave N, Brooklyn Center	$1,300	2 / 1	750	1.4 mi	2025-10-20	Apartment
3547 Main St NE, Minneapolis	$1,495	2 / 1	750	1.5 mi	2026-09-03	Multi family

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

highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 1415 44TH AVE N, units=1
highCash flow is negative at asking price; break-even is well below the list price. Based on: data: underwriting.break_even_price · AI review
mediumRental license Tier 2: the city has flagged more violations than typical; expect more frequent inspections and repair orders. Public record: Minneapolis Active Rental Licenses: 1415 44TH AVE N, grade/tier=Tier 2, status=Active
medium$2,307 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 0402924120085: special assessments (current) = $2,307.49
mediumDescription says 'well-maintained' but gives no rents, lease status, systems or updates, and the photos show dated, worn finishes. Listing says: This well-maintained 4 bedroom, 3 bathroom upper-lower duplex · AI review
mediumMarketed for owner-occupants; the owner-occupant pitch may mean no rent roll exists and the units may not be separately metered or set up as rentals. Listing says: Live comfortably in one unit while renting out the other to help offset your mortgage · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 146 days on market
143 days on market gives leverage to negotiate toward the break-even price. Based on: data: listing.days_on_market · AI review
Minneapolis has no rent cap, so rents can rise to market after a refresh of the dated units. Based on: data: underwriting.rent_rule · AI review
Large basement and yard space could add storage or laundry value for tenants. Based on: photo 9 · AI review

Questions for the agent

What are the current rents and lease status for each unit? Can you share the rent roll?
What are the special assessments for, and does the seller pay them off at closing?
Why does the city license only 1 unit, and what is needed to license both?
What is the Tier 2 license history: violations, orders, open repairs?
What caused the staining on the basement walls, and has there been water intrusion?
How are heat, water and electric set up? Is there one boiler or separate systems, and who pays?

Bottom line

Dated 1901 duplex that roughly breaks even to slightly positive at $265K; break-even is near $302K, but the license, assessments and basement need checking first. AI-assisted summary

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.	$4,408
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 1901: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-05-12 (146 days); down $44,900 (14.5%) from the first ask of $309,900; last sold for $250,000 on 2020-01-15.

Date	Event	Price
2026-08-13	Price changed	$265,000
2026-06-30	Price changed	$275,000
2026-06-13	Price changed	$289,900
2026-05-28	Price changed	$299,900
2026-05-12	Listed	$309,900
2021-03-18	Removed	$218,500
2020-01-15	Sold public record	$250,000
2019-11-22	Sold	$250,000
2012-04-27	Sold	$128,000
2012-03-13	Price changed	$134,900
2012-02-03	Price changed	$139,900
2012-01-20	Price changed	$145,000
2011-11-30	Listed	$149,900
2011-11-22	Removed	$149,000
2011-11-14	Removed	$144,000
2011-11-14	Listed	$149,000
2011-10-11	Price changed	$144,000
2011-08-25	Listed	$149,000
2011-06-13	Removed	$155,900
2011-06-13	Removed	$199,900
2011-06-13	Removed	$218,500
2010-10-22	Listed	$155,900
2010-06-08	Price changed	$199,900
2009-12-29	Listed	$218,500
2009-12-21	Listed	$218,500

County record Public record

Recorded as	duplex
Living units	2
Year built	1901
Market value (2026)	$304,700
Property tax	$4,408
Special assessments	$2,307
Homestead	no
Last sale	2019-11-01 · $250,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 842 m away.

Crime in Webber - Camden

232 incidents in the last 12 months (41 per 1,000 residents), +5% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).