309 3rd Ave SW
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 1,944 sq ft
Austin, MN · View the listing ↗
Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.
- Asking price
- $179,000 2 units · $90K per unit
- Monthly cash flow
- $232 at 20% down, 7%
- Estimated rent
- $2,250/mo medium confidence
- Break-even price
- $222,508 where cash flow hits $0
First look
This is a 1892 Austin up/down at $179K, 5 bed / 2 bath, and it has sat 276 days. Our model shows about $232/mo cash flow and a 7.9% cap at ask with 20% down, but that rests on estimated rents of about $1,275 and $975, and the listing gives no actual rents, leases or expenses. The photos show dated, worn interiors: wood paneling, drop ceilings, scuffed walls, and a rough basement with an old, patchy ceiling. Taxes and unit count are unverified because we couldn't match a county parcel. Ask for the rent roll, tax bill and heating setup first, then get an inspection of the basement and foundation before you commit to a showing.
Things to consider
- Rents are our estimates, not actual The $232/mo cash flow depends on estimated rents of about $1,275 and $975. If actual rents are lower, cash flow shrinks fast.
- Taxes and unit count unverified No county parcel match means the tax bill is a guess and legal unit status is unconfirmed. A higher non-homestead tax could erase the margin.
- Old building with unknown systems Built 1892, with no info on roof, wiring, plumbing or heat. Repairs could outweigh the discount.
- Interiors need cosmetic work Paneling, drop ceilings, wall damage and a rough bathroom suggest a refresh budget before you can push rents.From photo 1
- Basement condition needs inspection Patchy ceiling and flaking walls could mean moisture, and a stone foundation on an 1892 home needs a proper look.From photo 7
- Long market time is leverage Nearly 9 months listed suggests the seller may accept a lower offer, or that buyers found problems.
From the photos
Based on 7 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneExterior wood siding recently paintedListing says: The exterior features recently painted wood siding, enhancing curb appeal while reflecting ongoing care and maintenance.
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
- $179,000
- Cash to close
- $23,270
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- $12/mo
- Cash-on-cash
- 0.6%
- Cap rate
- 7.9%
- DSCR
- 1.01×
Break-even
- Price that breaks even
- $180,800
- Rent that breaks even
- $2,235/mo
Long run
- Year 30: property vs stocks
- $954K vs $177K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $23,270
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- −$179/mo
- Cash-on-cash
- −9.2%
- Cap rate
- 6.7%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $151,740
- Rent that breaks even
- $2,511/mo
Long run
- Year 30: property vs stocks
- $701K vs $220K
- Cash flow turns positive
- year 5
The deal
- Price
- $169,000
- Cash to close
- $21,970
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- $77/mo
- Cash-on-cash
- 4.2%
- Cap rate
- 8.4%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $180,800
- Rent that breaks even
- $2,150/mo
Long run
- Year 30: property vs stocks
- $1.00M vs $167K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,000
- Cash to close
- $21,970
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- −$113/mo
- Cash-on-cash
- −6.2%
- Cap rate
- 7.1%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $151,740
- Rent that breaks even
- $2,415/mo
Long run
- Year 30: property vs stocks
- $728K vs $190K
- Cash flow turns positive
- year 5
The deal
- Price
- $179,000
- Cash to close
- $41,170
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- $232/mo
- Cash-on-cash
- 6.7%
- Cap rate
- 7.9%
- DSCR
- 1.24×
Break-even
- Price that breaks even
- $222,508
- Rent that breaks even
- $1,949/mo
Long run
- Year 30: property vs stocks
- $1.12M vs $313K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $41,170
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- $41/mo
- Cash-on-cash
- 1.2%
- Cap rate
- 6.7%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $186,745
- Rent that breaks even
- $2,190/mo
Long run
- Year 30: property vs stocks
- $824K vs $313K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,000
- Cash to close
- $38,870
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- $285/mo
- Cash-on-cash
- 8.8%
- Cap rate
- 8.4%
- DSCR
- 1.32×
Break-even
- Price that breaks even
- $222,508
- Rent that breaks even
- $1,880/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $296K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,000
- Cash to close
- $38,870
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- $94/mo
- Cash-on-cash
- 2.9%
- Cap rate
- 7.1%
- DSCR
- 1.10×
Break-even
- Price that breaks even
- $186,745
- Rent that breaks even
- $2,112/mo
Long run
- Year 30: property vs stocks
- $862K vs $296K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $50,120
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- $291/mo
- Cash-on-cash
- 7.0%
- Cap rate
- 7.9%
- DSCR
- 1.33×
Break-even
- Price that breaks even
- $237,342
- Rent that breaks even
- $1,872/mo
Long run
- Year 30: property vs stocks
- $1.19M vs $382K
- Cash flow turns positive
- year 1
The deal
- Price
- $179,000
- Cash to close
- $50,120
- Price per unit
- $89,500
- GRM
- 6.6
Each month
- Cash flow
- $101/mo
- Cash-on-cash
- 2.4%
- Cap rate
- 6.7%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $199,194
- Rent that breaks even
- $2,103/mo
Long run
- Year 30: property vs stocks
- $892K vs $382K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,000
- Cash to close
- $47,320
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- $341/mo
- Cash-on-cash
- 8.6%
- Cap rate
- 8.4%
- DSCR
- 1.40×
Break-even
- Price that breaks even
- $237,342
- Rent that breaks even
- $1,807/mo
Long run
- Year 30: property vs stocks
- $1.22M vs $360K
- Cash flow turns positive
- year 1
The deal
- Price
- $169,000
- Cash to close
- $47,320
- Price per unit
- $84,500
- GRM
- 6.3
Each month
- Cash flow
- $151/mo
- Cash-on-cash
- 3.8%
- Cap rate
- 7.1%
- DSCR
- 1.18×
Break-even
- Price that breaks even
- $199,194
- Rent that breaks even
- $2,030/mo
Long run
- Year 30: property vs stocks
- $925K vs $360K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$1,072 |
| PMI | −$101 |
| Cash flow | $12 |
| Principal paid down (equity, not cash) | $136 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$1,072 |
| PMI | −$101 |
| Cash flow | −$179 |
| Principal paid down (equity, not cash) | $136 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$1,012 |
| PMI | −$95 |
| Cash flow | $77 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$1,012 |
| PMI | −$95 |
| Cash flow | −$113 |
| Principal paid down (equity, not cash) | $129 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$953 |
| Cash flow | $232 |
| Principal paid down (equity, not cash) | $121 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$953 |
| Cash flow | $41 |
| Principal paid down (equity, not cash) | $121 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$899 |
| Cash flow | $285 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$899 |
| Cash flow | $94 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$893 |
| Cash flow | $291 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$893 |
| Cash flow | $101 |
| Principal paid down (equity, not cash) | $114 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$843 |
| Cash flow | $341 |
| Principal paid down (equity, not cash) | $107 |
| Rent | $2,250 |
| Vacancy (6%) | −$135 |
| Collected | $2,115 |
| Property tax Listing | −$109 |
| Insurance Estimate | −$210 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$180 |
| Capital reserve (9% of rent) | −$202 |
| Property management | −$190 |
| Net operating income | $994 |
| Mortgage (principal + interest) | −$843 |
| Cash flow | $151 |
| Principal paid down (equity, not cash) | $107 |
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
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $545,592
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $161,100 of loan.
$258,806 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $177,137
$23,270 put into an index fund instead of the down payment and closing costs.
The building comes out $776,866 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $292,687
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $161,100 of loan.
$156,721 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $177,137
- Monthly shortfalls, invested
- $43,184
$23,270 put into an index fund instead of the down payment and closing costs.
$6,587 you'd have paid in while the building lost money, invested instead.
The building comes out $480,777 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $615,205
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $152,100 of loan.
$280,632 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $167,241
$21,970 put into an index fund instead of the down payment and closing costs.
The building comes out $833,559 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $342,033
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $152,100 of loan.
$175,403 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $167,241
- Monthly shortfalls, invested
- $22,917
$21,970 put into an index fund instead of the down payment and closing costs.
$3,442 you'd have paid in while the building lost money, invested instead.
The building comes out $537,470 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $711,737
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $143,200 of loan.
$306,511 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $313,397
$41,170 put into an index fund instead of the down payment and closing costs.
The building comes out $806,751 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $415,648
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $143,200 of loan.
$197,839 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $313,397
$41,170 put into an index fund instead of the down payment and closing costs.
The building comes out $510,662 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $772,068
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $135,200 of loan.
$325,672 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $295,888
$38,870 put into an index fund instead of the down payment and closing costs.
The building comes out $861,775 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $475,979
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $135,200 of loan.
$217,000 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $295,888
$38,870 put into an index fund instead of the down payment and closing costs.
The building comes out $565,686 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $779,232
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $134,250 of loan.
$327,947 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,526
$50,120 put into an index fund instead of the down payment and closing costs.
The building comes out $806,118 ahead after 30 years.
- Your equity when you sell
- $408,411
- Rental profits, invested at 7%
- $483,143
Sells for $434,480 (value up 3% a year), minus 6% selling cost ($26,069). Rent paid down $134,250 of loan.
$219,275 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $381,526
$50,120 put into an index fund instead of the down payment and closing costs.
The building comes out $510,029 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $835,793
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $126,750 of loan.
$345,910 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $360,212
$47,320 put into an index fund instead of the down payment and closing costs.
The building comes out $861,176 ahead after 30 years.
- Your equity when you sell
- $385,595
- Rental profits, invested at 7%
- $539,704
Sells for $410,207 (value up 3% a year), minus 6% selling cost ($24,612). Rent paid down $126,750 of loan.
$237,239 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $360,212
$47,320 put into an index fund instead of the down payment and closing costs.
The building comes out $565,087 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
Year 30 (loan paid off): property $954K, stocks $177K. The property wins.
Year 30 (loan paid off): property $701K, stocks $220K. The property wins.
Year 30 (loan paid off): property $1.00M, stocks $167K. The property wins.
Year 30 (loan paid off): property $728K, stocks $190K. The property wins.
Year 30 (loan paid off): property $1.12M, stocks $313K. The property wins.
Year 30 (loan paid off): property $824K, stocks $313K. The property wins.
Year 30 (loan paid off): property $1.16M, stocks $296K. The property wins.
Year 30 (loan paid off): property $862K, stocks $296K. The property wins.
Year 30 (loan paid off): property $1.19M, stocks $382K. The property wins.
Year 30 (loan paid off): property $892K, stocks $382K. The property wins.
Year 30 (loan paid off): property $1.22M, stocks $360K. The property wins.
Year 30 (loan paid off): property $925K, stocks $360K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 1 bath estimate $1,275/mo · range $1,025–$1,525
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 502 19th St NW, Austin 55912 off market | $1,300 | 3 / 1 | 1.3 mi | 92% |
| 2nd Dr NE, Austin 55912 | $1,275 | 3 / 1.5 | 1.0 mi | 88% |
| 201 Second St SE, Austin 55912 off market | $1,315 | 3 / 2 | 0.3 mi | 87% |
| 3rd St SE, Austin 55912 | $1,295 | 3 / 2 | 0.4 mi | 86% |
| 408 3rd Ave SE, Austin 55912 off market | $1,275 | 3 / 2 | 0.4 mi | 86% |
| 410 3rd Ave SE, Austin 55912 off market | $1,275 | 3 / 2 | 0.4 mi | 86% |
| 1002 4th St SE, Austin 55912 | $1,650 | 3 / 1 | 0.6 mi | 84% |
| 605 Main St N, Apt 7, Austin 55912 off market | $695 | 2 / 1 | 0.2 mi | 84% |
| 806 15th St NE, Austin 55912 off market | $1,300 | 3 / 1 | 1.4 mi | 84% |
| 814 9th Ave Sw Apt A, Austin 55912 | $750 | 2 / 1 | 0.5 mi | 84% |
2 bed / 1 bath estimate $975/mo · range $825–$1,150
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 605 Main St N, Apt 7, Austin 55912 off market | $695 | 2 / 1 | 0.2 mi | 94% |
| 814 9th Ave Sw Apt A, Austin 55912 | $750 | 2 / 1 | 0.5 mi | 93% |
| 814 9th Ave SW, Austin 55912 off market | $750 | 2 / 1 | 0.5 mi | 93% |
| 601 1/2 13th St SE, Austin 55912 | $1,050 | 2 / 1 | 0.8 mi | 93% |
| 1407-1409 5th St SE, Austin 55912 off market | $1,000 | 2 / 1 | 0.8 mi | 93% |
| 1407 5th St SE, Unit A, Austin 55912 off market | $900 | 2 / 1 | 0.8 mi | 93% |
| 614-620 10th St SE, Austin 55912 off market | $850 | 2 / 1 | 0.8 mi | 93% |
| 905 1st Ave SW, Austin 55912 off market | $1,250 | 2 / 1 | 0.4 mi | 91% |
| 1010 5th St NW, Austin 55912 | $950 | 2 / 1 | 0.8 mi | 90% |
| 601 13th Ave SE, Austin 55912 off market | $1,050 | 2 / 1 | 0.8 mi | 88% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- highNo rents, lease status, expenses or utility details in the listing; the income side is entirely unverified. Based on: data: rent_estimate · AI review
- 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 3RD AVE SW
- mediumDescription is all marketing and no facts. Nothing on heat type, roof, electrical, or occupancy. Listing says: This charming up-down style property offers flexible living or investment potential · AI review
- mediumBasement shows peeling, patched ceiling finish and stained, flaking walls. Possible moisture or past leaks on a 1892 building. Based on: photo 7 · AI review
- lowBoth units' interiors look dated and worn, with likely turnover work before good rents. Based on: photo 1 · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 276 days on market
- 276 days on market gives room to negotiate, especially with unknown condition. Based on: data: listing.days_on_market · AI review
- Break-even price is well above ask, so there is some cushion if rents and taxes hold. Based on: data: underwriting.break_even_price · AI review
- Owner-occupant option: live in one unit and rent the other. Listing says: Whether you're looking to live in one unit and rent the other, or fully lease both for income · AI review
Questions for the agent
- Are both units occupied? What are the actual rents, lease terms and deposits?
- What are the real property taxes, and is the property licensed as a rental for two units?
- What is the heat type, and does each unit have its own furnace, meter and water heater?
- How old are the roof, electrical panel and foundation, and has there been any basement water?
- Why has it sat 276 days, and have there been price cuts or offers?
- Which unit is the 3-bed and which is the 2-bed? Do all bedrooms have egress?
Bottom line
Numbers look decent on paper at $179K, but with no rents, taxes or systems info and tired interiors, treat it as a rehab-risk deal until verified. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2024. 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. | $1,304 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,515 |
| 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 1892: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-01-02 (276 days); last sold for $24,000 on 2008-10-10.
| Date | Event | Price |
|---|---|---|
| Removed | $179,000 | |
| Removed | $179,000 | |
| Listed | $179,000 | |
| Removed | — | |
| Listed | $179,000 | |
| Sold | $24,000 | |
| Listed | $26,000 | |
| Sold public record | $32,000 | |
| Sold public record | $32,000 | |
| Sold public record | $26,500 |
From the listing Listing
| Listed as | duplex other |
| Property tax, 2024 | $1,304 |
| County | Mower |
| Parcel number | 345750850 |
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 Austin on rental licensing before you buy.