2515 Fillmore St NE

Minneapolis, MN · Audubon Park · Listing office ↗ · Find the listing ↗

Far off

Asking price: $439,900
Monthly cash flow: −$1,015
Estimated rent: $3,000/mo
Break-even price: $249,214

Adjust these numbers in the calculator See the full breakdown

The numbers

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

Estimated rent per unit Estimate

3 bed / 1 bath (est.)$1,650 $1,400–$1,900
2 bed / 1 bath (est.)$1,350 $1,150–$1,550

Rough screening estimate from bedroom count only ($750 + $300 per bedroom, ±15%). Not comparable-rental data; a RentCast estimate replaces it for the top candidates. Confidence: low.

Rent rules: No rent cap.

Price: $439,900
Monthly cash flow: −$1,015
Cash to close: $101,177
Cap rate: 3.6%
Cash-on-cash: −12.0%
DSCR: 0.57×
GRM: 12.2
Price per unit: $219,950
Price that breaks even: $249,214
Rent that breaks even: $4,318/mo
Cash flow turns positive: year 24
Year 30: property vs stocks: $1.03M vs $1.47M

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$538
Insurance Estimate	−$216
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,326
Mortgage (principal + interest)	−$2,341
Cash flow	−$1,015
Principal paid down (equity, not cash)	$298

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.03M, stocks $1.47M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $395,910 of principal by year 30	$0
Plus rental profits, invested at 7%$2,682 of profit by year 30, before investment growth	$2,756
What you'd walk away with	$1,006,444
If you put the same money in stocks
Cash to close ($57,187) invested at 7%	$435,322
Monthly shortfalls ($253,308 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,092,366
What you'd walk away with	$1,527,688
Building minus stocks	−$521,244

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $395,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,003,688
If you put the same money in stocks
Cash to close ($57,187) invested at 7%	$435,322
Monthly shortfalls ($395,522 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,484,395
What you'd walk away with	$1,919,717
Building minus stocks	−$916,029

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $386,910 of principal by year 30	$0
Plus rental profits, invested at 7%$4,859 of profit by year 30, before investment growth	$5,093
What you'd walk away with	$985,964
If you put the same money in stocks
Cash to close ($55,887) invested at 7%	$425,426
Monthly shortfalls ($233,659 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,025,090
What you'd walk away with	$1,450,516
Building minus stocks	−$464,552

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $386,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$980,871
If you put the same money in stocks
Cash to close ($55,887) invested at 7%	$425,426
Monthly shortfalls ($373,696 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,414,782
What you'd walk away with	$1,840,208
Building minus stocks	−$859,337

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $351,920 of principal by year 30	$0
Plus rental profits, invested at 7%$19,959 of profit by year 30, before investment growth	$22,871
What you'd walk away with	$1,026,559
If you put the same money in stocks
Cash to close ($101,177) invested at 7%	$770,185
Monthly shortfalls ($153,348 total by yr 30) investedThe money you'd have put into the building while it lost money	$704,172
What you'd walk away with	$1,474,358
Building minus stocks	−$447,799

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $351,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,003,688
If you put the same money in stocks
Cash to close ($101,177) invested at 7%	$770,185
Monthly shortfalls ($278,285 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,076,087
What you'd walk away with	$1,846,272
Building minus stocks	−$842,584

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $343,920 of principal by year 30	$0
Plus rental profits, invested at 7%$24,929 of profit by year 30, before investment growth	$29,199
What you'd walk away with	$1,010,071
If you put the same money in stocks
Cash to close ($98,877) invested at 7%	$752,677
Monthly shortfalls ($139,157 total by yr 30) investedThe money you'd have put into the building while it lost money	$650,170
What you'd walk away with	$1,402,847
Building minus stocks	−$392,776

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $343,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$980,871
If you put the same money in stocks
Cash to close ($98,877) invested at 7%	$752,677
Monthly shortfalls ($259,124 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,015,756
What you'd walk away with	$1,768,433
Building minus stocks	−$787,562

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $329,925 of principal by year 30	$0
Plus rental profits, invested at 7%$35,028 of profit by year 30, before investment growth	$42,685
What you'd walk away with	$1,046,372
If you put the same money in stocks
Cash to close ($123,172) invested at 7%	$937,617
Monthly shortfalls ($115,737 total by yr 30) investedThe money you'd have put into the building while it lost money	$558,113
What you'd walk away with	$1,495,730
Building minus stocks	−$449,358

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,067,753
Minus 6% selling cost	−$64,065
Minus loan still owedTenants' rent paid down all $329,925 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,003,688
If you put the same money in stocks
Cash to close ($123,172) invested at 7%	$937,617
Monthly shortfalls ($225,605 total by yr 30) investedThe money you'd have put into the building while it lost money	$910,214
What you'd walk away with	$1,847,830
Building minus stocks	−$844,142

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $322,425 of principal by year 30	$0
Plus rental profits, invested at 7%$41,190 of profit by year 30, before investment growth	$51,302
What you'd walk away with	$1,032,173
If you put the same money in stocks
Cash to close ($120,372) invested at 7%	$916,302
Monthly shortfalls ($103,936 total by yr 30) investedThe money you'd have put into the building while it lost money	$510,169
What you'd walk away with	$1,426,472
Building minus stocks	−$394,299

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,043,480
Minus 6% selling cost	−$62,609
Minus loan still owedTenants' rent paid down all $322,425 of principal by year 30	$0
Plus rental profits, invested at 7%$397 of profit by year 30, before investment growth	$397
What you'd walk away with	$981,269
If you put the same money in stocks
Cash to close ($120,372) invested at 7%	$916,302
Monthly shortfalls ($208,039 total by yr 30) investedThe money you'd have put into the building while it lost money	$854,051
What you'd walk away with	$1,770,353
Building minus stocks	−$789,084

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.

Red flags and opportunities

Watch for

mediumAsking is $190,686 above the price where cash flow breaks even ($249,214) at the default scenario. Based on: Derived: price $439,900 vs. break-even $249,214

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$6,451
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,592
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%

County record Public record

Recorded as	duplex
Living units	2
Year built	1900
Market value (2026)	$339,700
Property tax	$6,451
Special assessments	none
Homestead	no
Last sale	2021-06-01 · $425,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 1380 m away.

Crime in Audubon Park

161 incidents in the last 12 months (30 per 1,000 residents), +17% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).

Status history

2026-08-13Price cut at $439,900 (was $449,000) · from listing history
2026-08-13New at $439,900