305 N Van Buren Ave

Cash flows

6 photos

Photos, via Realtor.com.

Asking price: $290,000
Monthly cash flow: $888
Estimated rent: $4,400/mo
Break-even price: $456,778

Adjust the numbers See the full breakdown

From the listing

Excellent investment opportunity in Springfield, Minnesota! This well-maintained four-unit apartment building offers a strong combination of current rental income, multiple unit configurations, garage space, and significant potential for increased revenue. The property features two one-bedroom apartments and two two-bedroom apartments, with all four units currently occupied, providing an established income stream from day one. A major advantage of this property is the four detached garage stalls. With thoughtful restructuring of the garage spaces and a review of how the garage and rental spaces are utilized, there is substantial upside potential to increase monthly revenue. A new owner may have the opportunity to better allocate or separately rent garage space and make adjustments to the existing rental structure, creating additional income beyond what the current rates are. The property also includes coin-operated laundry, providing a convenient amenity for tenants and another source of potential income. Situated on a corner lot, the property offers good access, visibility, and off-street parking. This is an attractive opportunity for an investor looking for a property with existing occupancy and cash flow today, while still offering room to improve and increase revenue over time. The combination of four rental units, four detached garage stalls, on-site laundry, and potential for restructuring makes this a property with both stability and upside. Owner is a Minnesota licensed Real Estate agent.

Description from Realtor.com, MLS #7129280. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

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: $290,000
Cash to close: $66,700
Price per unit: $72,500
GRM: 5.5

Each month

Cash flow: $888/mo
Cash-on-cash: 16.0%
Cap rate: 10.1%
DSCR: 1.58×

Break-even

Price that breaks even: $456,778
Rent that breaks even: $3,262/mo

Long run

Year 30: property vs stocks: $2.60M vs $508K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$4,400
Vacancy (6%)	−$264
Collected	$4,136
Property tax Listing	−$251
Insurance Estimate	−$350
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$352
Capital reserve (8% of rent)	−$352
Net operating income	$2,431
Mortgage (principal + interest)	−$1,544
Cash flow	$888
Principal paid down (equity, not cash)	$196

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

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $261,000 of principal by year 30	$0
Plus rental profits, invested at 7%$706,409 of profit by year 30, before investment growth	$1,670,731
What you'd walk away with	$2,332,402
If you put the same money in stocks
Cash to close ($37,700) invested at 7%	$286,982
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$286,982
Building minus stocks	$2,045,420

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $261,000 of principal by year 30	$0
Plus rental profits, invested at 7%$493,896 of profit by year 30, before investment growth	$1,091,712
What you'd walk away with	$1,753,384
If you put the same money in stocks
Cash to close ($37,700) invested at 7%	$286,982
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$286,982
Building minus stocks	$1,466,402

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $252,000 of principal by year 30	$0
Plus rental profits, invested at 7%$728,235 of profit by year 30, before investment growth	$1,740,344
What you'd walk away with	$2,379,199
If you put the same money in stocks
Cash to close ($36,400) invested at 7%	$277,086
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$277,086
Building minus stocks	$2,102,113

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $252,000 of principal by year 30	$0
Plus rental profits, invested at 7%$515,721 of profit by year 30, before investment growth	$1,161,325
What you'd walk away with	$1,800,181
If you put the same money in stocks
Cash to close ($36,400) invested at 7%	$277,086
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$277,086
Building minus stocks	$1,523,095

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $232,000 of principal by year 30	$0
Plus rental profits, invested at 7%$783,697 of profit by year 30, before investment growth	$1,939,904
What you'd walk away with	$2,601,576
If you put the same money in stocks
Cash to close ($66,700) invested at 7%	$507,737
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$507,737
Building minus stocks	$2,093,839

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $232,000 of principal by year 30	$0
Plus rental profits, invested at 7%$571,183 of profit by year 30, before investment growth	$1,360,885
What you'd walk away with	$2,022,557
If you put the same money in stocks
Cash to close ($66,700) invested at 7%	$507,737
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$507,737
Building minus stocks	$1,514,820

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $224,000 of principal by year 30	$0
Plus rental profits, invested at 7%$802,858 of profit by year 30, before investment growth	$2,000,235
What you'd walk away with	$2,639,091
If you put the same money in stocks
Cash to close ($64,400) invested at 7%	$490,229
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$490,229
Building minus stocks	$2,148,862

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $224,000 of principal by year 30	$0
Plus rental profits, invested at 7%$590,344 of profit by year 30, before investment growth	$1,421,217
What you'd walk away with	$2,060,072
If you put the same money in stocks
Cash to close ($64,400) invested at 7%	$490,229
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$490,229
Building minus stocks	$1,569,843

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $217,500 of principal by year 30	$0
Plus rental profits, invested at 7%$818,426 of profit by year 30, before investment growth	$2,049,254
What you'd walk away with	$2,710,926
If you put the same money in stocks
Cash to close ($81,200) invested at 7%	$618,115
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$618,115
Building minus stocks	$2,092,811

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$703,906
Minus 6% selling cost	−$42,234
Minus loan still owedTenants' rent paid down all $217,500 of principal by year 30	$0
Plus rental profits, invested at 7%$605,912 of profit by year 30, before investment growth	$1,470,236
What you'd walk away with	$2,131,907
If you put the same money in stocks
Cash to close ($81,200) invested at 7%	$618,115
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$618,115
Building minus stocks	$1,513,792

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $210,000 of principal by year 30	$0
Plus rental profits, invested at 7%$836,389 of profit by year 30, before investment growth	$2,105,815
What you'd walk away with	$2,744,670
If you put the same money in stocks
Cash to close ($78,400) invested at 7%	$596,801
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$596,801
Building minus stocks	$2,147,869

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$679,633
Minus 6% selling cost	−$40,778
Minus loan still owedTenants' rent paid down all $210,000 of principal by year 30	$0
Plus rental profits, invested at 7%$623,875 of profit by year 30, before investment growth	$1,526,796
What you'd walk away with	$2,165,652
If you put the same money in stocks
Cash to close ($78,400) invested at 7%	$596,801
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$596,801
Building minus stocks	$1,568,851

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 $2.60M, stocks $508K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. 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 $1,200/mo · range $975–$1,400 · 465 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1001 N Garden St, New Ulm	$1,340	2 / 2	1,008	25.4 mi	2026-05-15	Apartment
227 N Minnesota St, New Ulm	$1,229	2 / 1	750	25.8 mi	2025-01-18	Apartment
405 12th St S Apt 1, New Ulm	$1,300	2 / 1	1,000	26.4 mi	2025-11-06	Apartment
135 6th Ave S, Windom	$500	2 / 1	600	27.6 mi	2025-05-29	Apartment
610 6th St W Unit 11, Winthrop	$775	2 / 1	—	36.3 mi	2024-07-10	Apartment
110 E 1st St S Apt 2, Truman	$675	2 / 1	800	39.2 mi	—	Apartment
600 Bowman St Apt 3, Stewart	$775	2 / 1	—	41.0 mi	2025-06-30	Apartment
111 W Lind St, Mankato	$1,130	2 / 1	775	47.7 mi	2026-08-22	Apartment
429 State St Apt 102, Mankato	$1,100	2 / 1	—	47.8 mi	2024-04-23	Apartment
408 State St Apt 101, Mankato	$1,050	2 / 1	—	47.9 mi	2024-04-16	Apartment

1 bed estimate $1,000/mo · range $850–$1,300 · 357 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1001 N Garden St, New Ulm	$1,105	1 / 1	738	25.4 mi	2026-05-15	Apartment
227 N Minnesota St, New Ulm	$924	1 / 1	625	25.8 mi	2025-01-18	Apartment
26 Broadway St N Apt 4, New Ulm	$850	1 / 1	600	25.8 mi	2024-10-22	Apartment
1757 4th Ave Apt 11, Windom	$698	1 / 1	550	26.3 mi	2025-08-26	Apartment
135 6th Ave S, Windom	$800	1 / 1	600	27.6 mi	2025-05-29	Apartment
1247 Range St Apt 118, Mankato	$1,365	1 / 1	758	47.7 mi	2026-08-13	Apartment
1247 Range St Apt 429, Mankato	$1,465	1 / 1	758	47.7 mi	2026-01-26	Apartment
910 Hengen St Apt 306, Fairmont	$922	1 / 1	625	47.8 mi	2026-10-02	Apartment
408 State St Apt 203, Mankato	$900	1 / 1	797	47.9 mi	2024-04-30	Apartment
325 Belgrade Ave, North Mankato	$775	1 / 1	318	48.0 mi	2026-06-30	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

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 305 VAN BUREN AVE N

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 Listinglisting, tax year 2025. 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.	$3,010
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,200
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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. base rate	8% / 8%

Status history

2026-08-18New at $290,000

From the listing Listing

Listed as	four plex
Property tax, 2025	$3,010
County	Brown
Parcel number	00331000406060

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 Springfield on rental licensing before you buy.