315 25th Ave N

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,691 sq ft

Minneapolis, MN · Hawthorne · View the listing ↗

Cash flows

23 photos

Photos courtesy of Realty Group of LPT Realty, via Realtor.com.

Asking price: $265,000
Monthly cash flow: $199
Estimated rent: $3,150/mo
Break-even price: $302,430

Adjust the numbers See the full breakdown

From the listing

Whether you're looking to add to your investment portfolio or explore the possibilities of owner-occupied multifamily living, this up/down duplex offers an excellent opportunity. Currently fully occupied with tenants, making this an attractive option for investors looking for an income-producing property. Appropriate notice and applicable lease terms should be considered if future owner occupancy is desired. Featuring 4 total bedrooms and 2 bathrooms, the property consists of two units with functional layouts and separate utilities. The home offers approximately 1,700 finished square feet, plus a full lower level with a separate entrance providing additional space and possibilities. Outside, you'll appreciate the convenient off-street parking and city location with easy access to major roadways, shopping, dining, downtown Minneapolis, and neighborhood amenities.

Listing courtesy of Realty Group of LPT Realty (Gabriel Harstad-Puga). Description from Realtor.com, MLS #7142820. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1900 Minneapolis up/down with two 2-bed units, listed at $265K after a $240K sale in 2022. Our underwriting shows about $199/month cash flow at 20% down and a 7.3% cap rate, using estimated mid rents of $1,575 per unit, because the listing gives no actual rents. Those rents are unverified, so get the rent roll and leases first. The photos show newer siding and roof but dated kitchens and worn carpet. Heat is gravity, which in a house this age usually means old baseboard hot water with a boiler, so ask who pays for it and what condition the boiler is in. It is worth a showing if the real rents are near the estimate and the mechanicals check out.

Things to consider

Rents are estimates only Cash flow of about $199/month rests on our $1,575 mid-rent estimate. Actual leases could be higher or lower and change the result a lot.
Heating system and cost Gravity heat usually means an older boiler. If the owner pays heat on a single boiler, expenses rise and replacement can be costly.
Highway noise The property is about 120 m from I-94, which can cap rents and lengthen vacancies.
Dated kitchens and carpet Interior finishes look old. Turnover costs will be higher, though updates may support better rents.From photo 9
Price vs. recent sale and county value Seller wants $265K against a $240K sale in 2022 and a $241K county value. Ask what has been improved to justify the increase.
Occupied property and tax status Tenant notice rules matter if you plan to live there. The county tax shown is non-homestead, so it fits investor underwriting.Listing says: “Appropriate notice and applicable lease terms should be considered if future owner occupancy is desired.”

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: $199/mo
Cash-on-cash: 3.9%
Cap rate: 7.3%
DSCR: 1.14×

Break-even

Price that breaks even: $302,430
Rent that breaks even: $2,891/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 Public record	−$382
Insurance Estimate	−$204
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	$1,610
Mortgage (principal + interest)	−$1,410
Cash flow	$199
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$1,434,546

Your equity when you sell: $604,632
Rental profits, invested at 7%: $829,915

Same money in stocks$463,967

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

The building comes out $970,579 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 $1,425–$1,775 · 20 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
421 N 26th Ave Unit 1, Minneapolis	$1,500	2 / 1	300	0.1 mi	2026-09-21	Apartment
415 23rd Ave N Apt 4, Minneapolis	$1,415	2 / 1	850	0.2 mi	—	Apartment
816 21st Ave N Apt 337, Minneapolis	$1,788	2 / 1	1,000	0.4 mi	2026-07-14	Apartment
2222 Girard Ave N, Minneapolis	$1,500	2 / 1	1,736	0.6 mi	2026-07-10	Duplex triplex
2219 Marshall St NE, Minneapolis	$1,509	2 / 1	895	0.8 mi	2026-09-15	Apartment
80 Broadway St NE, Minneapolis	$2,429	2 / 1	737	0.9 mi	2026-01-30	Apartment
1025 Main St NE, Minneapolis	$2,379	2 / 1	760	1.0 mi	2026-01-30	Apartment
2652 Marshall St NE, Minneapolis	$1,249	2 / 1	—	1.0 mi	2025-04-30	Apartment
2630 Grand St NE, Minneapolis	$1,595	2 / 1	873	1.0 mi	2026-03-20	Apartment
2630 Grand St NE Unit 2, Minneapolis	$1,595	2 / 1	873	1.0 mi	—	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

highNo rents or lease terms given; the cash flow depends on our estimates. Listing says: Currently fully occupied with tenants, making this an attractive option for investors looking for an income-producing property. · AI review
mediumAbout 120 m from I 94: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 94) at 120 m
mediumDescription says 'separate utilities' but heat is gravity/boiler style; confirm separate meters and who pays for heat. Listing says: the property consists of two units with functional layouts and separate utilities · AI review
lowLower level with a separate entrance: confirm it is not being used as an unlicensed extra unit and has legal egress. Listing says: plus a full lower level with a separate entrance providing additional space and possibilities · AI review

Opportunities

Dated kitchens could be refreshed to support rents at or above the estimate. Based on: photo 9 · AI review
Finished or finishable lower level could add storage, laundry or another income source if legal. Listing says: plus a full lower level with a separate entrance providing additional space and possibilities · AI review
Minneapolis has no rent cap, so rents can follow the market after turnover. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What are the current rents, lease end dates and security deposits for each unit?
Who pays heat, and is there one boiler or one per unit? How old is it?
Are the utilities fully separately metered (gas, electric, water)?
What is the age and condition of the electrical panels and plumbing?
How is the lower level used, and does it have legal egress?
Can I see trailing-12 expenses, including the actual tax bill and insurance?

Bottom line

A decently priced, cosmetically refreshed 2-bed/2-bed duplex that could cash flow modestly, but nothing is confirmed until you see real rents and the heating and electrical. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$4,585
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,445
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%

Price history Realtor.com

On the market since 2026-09-16 (19 days); last sold for $240,000 on 2022-09-21.

Date	Event	Price
2026-09-16	Listed	$265,000
2022-09-21	Sold	$240,000
2022-08-20	Listed	$235,000
2022-01-11	Sold public record	$60,000
2003-04-23	Sold public record	$135,000
1999-01-27	Sold public record	$35,920

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$241,400
Property tax	$4,585
Special assessments	none
Homestead	no
Last sale	2022-09-01 · $240,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 120 m away.

Crime in Hawthorne

445 incidents in the last 12 months (79 per 1,000 residents), −1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).