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4301 James Ave N

1 units · 1 units: 3 bed / 3 bath unit split estimated · 1,834 sq ft

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

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Photos, via Realtor.com.

Asking price
$346,900
1 units · $347K per unit
Monthly cash flow
−$251
at 20% down, 7%
Estimated rent
$2,675/mo
low confidence
Break-even price
$299,746
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a gut-rehab flip: bought for $53,750 in July 2025, now asking $346,900 after a full remodel. The finishes in the photos look new and clean, but they're cosmetic-looking and say nothing about what's behind the walls. At the ask, our underwriting shows about -$251/mo cash flow with a 5.5% cap rate, and break-even price is about $299,746, so it doesn't work at today's rates unless you owner-occupy and the price comes down. The $11,374 in special assessments and a flat roof on stucco are the first things to chase. County records show 1 living unit and a 1-unit rental license, so confirm the duplex is legal and licensed as two units before you pay duplex money. Worth a showing only if the permits, the assessments and a lower price all check out.

Things to consider

  1. Numbers don't work at the ask Cash flow is about -$251/mo and break-even price is about $299,746, roughly $47K below the ask. Rent estimates also vary widely, so the investor case is weak.
  2. Unit count and licensing mismatch If it is not a legal, licensed duplex, the second unit's rent and value are at risk. A mismatch could affect financing and insurance too.
  3. $11,374 in special assessments This is a large cost that could stay with the property or be paid at closing. It changes the true price.
  4. Flip with a steep price jump A buy at $53,750 and an ask of $346,900 means the seller needs a big markup. Quality and permits matter, and an appraisal could come in low.
  5. Flat roof on stucco The listing says new roofs, but flat roofs leak at seams and flashing. Get the install records and a moisture inspection.Listing says: “new roofs on both the house and garage”
  6. Separate utilities help operating costs Separate meters and water heaters mean tenants likely pay their own gas and electric, which keeps owner expenses lower.Listing says: “separate gas and electric meters, separate water heaters”

From the photos

Listing photo 3
1 of 7Plus

Kitchen appears fully new: white shaker cabinets, stainless appliances, gas range, laminate-style counters. Looks like a flip-grade finish, not high-end.

Listing photo 6
2 of 7Plus

Bathroom appears new, with a one-piece tub surround, new vanity and fixtures. Basic, builder-grade, but clean.

Listing photo 1
3 of 7Check

Vinyl plank flooring throughout and fresh paint. Cosmetic updates can hide problems, so inspect under and behind finishes.

Listing photo 9
4 of 7Plus

Two outdoor A/C condensers on the side wall suggest separate systems for each unit.

Listing photo 10
5 of 7Check

Stucco exterior with a flat or low-slope roofline. Stucco needs a moisture and flashing check, and the roof is worth a closer look.

Listing photo 9
6 of 7Check

The upper unit's deck is a wood frame on posts. Check the condition of the structure and how it's attached.

Listing photo 1
7 of 7Check

No photos of the basement, the electrical panels, the water heaters, the furnaces or the garage, and none show the upper unit as distinct.

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

Condition and repairs

  • doneFull remodel top to bottom: kitchens, baths, flooring, plumbing, electrical, heating, A/CListing says: completely remodeled from top to bottom, featuring brand-new kitchens, bathrooms, stainless-steel appliances, flooring, plumbing, electrical
  • doneNew roofs on house and garageListing says: new roofs on both the house and garage
  • doneNew bathroom in finished basementListing says: The finished basement adds valuable flexible living space with a brand-new bathroom.

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

Down payment %
Offer $
Management
Interest rate %
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
$346,900
Cash to close
$79,787
Price per unit
$346,900
GRM
10.8

Each month

Cash flow
−$251/mo
Cash-on-cash
−3.8%
Cap rate
5.5%
DSCR
0.86×

Break-even

Price that breaks even
$299,746
Rent that breaks even
$2,989/mo

Long run

Year 30: property vs stocks
$1.19M vs $670K
Cash flow turns positive
year 7

Monthly

Monthly breakdown

Rent$2,675
Vacancy (6%)−$160
Collected$2,514
Property tax Listing−$286
Insurance Estimate−$113
Water, sewer, trash Estimate−$85
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (7% of rent)−$187
Capital reserve (7% of rent)−$187
Net operating income$1,595
Mortgage (principal + interest)−$1,846
Cash flow−$251
Principal paid down (equity, not cash)$235

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$1,192,417
Your equity when you sell
$791,496

Sells for $842,017 (value up 3% a year), minus 6% selling cost ($50,521). Rent paid down $277,520 of loan.

Rental profits, invested at 7%
$400,921

$229,308 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$669,720
Cash to close, invested at 7%
$607,359

$79,787 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$62,361

$9,637 you'd have paid in while the building lost money, invested instead.

The building comes out $522,697 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 $1.19M, stocks $670K. 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 / 3 bath estimate $2,675/mo · range $1,050–$2,675

AddressRentBd / BaSq ftDistanceListedMatch
3118 Morgan Ave N, Minneapolis 55411 off market $1,900 3 / 1 — 1.4 mi 2025-10-15 82%
1115 33rd Ave N, Minneapolis 55412 off market $1,380 3 / 1 1,200 1.3 mi 2026-08-25 80%
4165 N Aldrich Ave, Unit 2, Minneapolis 55412 off market $1,650 3 / 1 1,100 0.6 mi 2026-07-20 80%
4119 Sheridan Ave N, Minneapolis 55412 off market $2,800 3 / 3 2,300 0.6 mi 2026-01-30 80%
4242 Girard Ave N, Minneapolis 55412 $2,198 3 / 2 1,710 0.2 mi 2026-10-04 79%
3706 N Penn Ave, Unit 2, Minneapolis 55412 $1,999 4 / 2 1,351 0.8 mi 2026-07-12 78%
4505 Drew Ave N, Robbinsdale 55422 off market $2,750 3 / 2 1,918 1.3 mi 2026-07-30 78%
4505 Drew Ave N, Minneapolis 55422 off market $2,750 3 / 2 1,918 1.3 mi 2026-08-04 78%
3326 Fremont Ave N, Minneapolis 55412 off market $1,625 3 / 1 1,000 1.3 mi 2026-06-27 78%
3003 N Morgan Ave, Minneapolis 55411 off market $7,833 3 / 2 1,742 1.5 mi 2026-02-20 77%

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

  • highCounty and rental license show 1 unit, but the listing sells a legal duplex. Verify legal unit count and licensing. Based on: data: city.rental_license · AI review
  • highVery large price jump after a flip. Check that the remodel was permitted and inspected, especially electrical, plumbing and heating. Based on: data: county.last_sale_price · AI review
  • mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 0402924210163: roof=Flat, exterior=WOOD
  • medium$11,374 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 0402924210163: special assessments (current) = $11,373.71
  • mediumBought for $53,750 in Jul 2025; asking is 545% more 15 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 0402924210163: last sale 2025-07-01, $53,750
  • mediumCounty market value is $218K versus a $346,900 ask, so appraisal risk is real. Based on: data: county.market_value · AI review
  • lowFinished basement with a new bathroom: confirm permits, egress and whether it counts as legal living space. Listing says: The finished basement adds valuable flexible living space with a brand-new bathroom. · AI review

Opportunities

  • Separate gas and electric meters, and separate water heaters, mean tenants can pay their own utilities. Listing says: separate gas and electric meters, separate water heaters · AI review
  • Owner-occupant angle: live in one unit and rent the other to offset the mortgage. Listing says: Live in one unit and rent the other to help offset your mortgage · AI review
  • Minneapolis has no rent cap, so rents can follow the market. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

  • Is this legally licensed as a duplex? The county and the rental license show 1 unit.
  • Can you share the building permits and final inspections for the electrical, plumbing, HVAC and roofs?
  • What are the $11,374 in special assessments for, and does the seller pay them at closing?
  • What is the roof type and who installed the new roofs? Is there a warranty?
  • Are there rent comps or a pro forma for each unit, and is either unit currently leased?
  • Why has it been on the market 41 days, and is the seller flexible on price?

Bottom line

Freshly flipped and clean-looking, but at $346,900 it loses money as a rental and the legal unit count and assessments need to be proven 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.$3,437
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$1,358
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$85
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. "fully renovated" in the description: -1 pts each7% / 7%

Price history Realtor.com

On the market since 2026-05-15 (143 days, relisted 1×); down $43,000 (11.0%) from the first ask of $389,900; last sold for $53,750 on 2025-09-03.

DateEventPrice
Listed$346,900
Removed$369,900
Relisted$369,900
Removed—
Price changed$369,900
Listed$389,900
Sold public record$53,750
Sold public record$36,501
Sold public record$55,000

County record Public record

Recorded ascom orig w 1-3 unit res
Living units1
Year built1922
Market value (2026)$218,000
Property tax$3,437
Special assessments$11,374
Homesteadno
Last sale2025-07-01 · $53,750

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 94, about 1076 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).