309 3rd Ave SW

Cash flows

9 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $179,000
Monthly cash flow: $366
Estimated rent: $2,425/mo
Break-even price: $247,826

Adjust the numbers See the full breakdown

From the listing

Opportunity and value meet in this centrally located duplex in the heart of Austin, Minnesota. This charming up-down style property offers flexible living or investment potential, ideal for both owner-occupants and portfolio-minded buyers. Each unit enjoys its own private entrance, creating a sense of separation and privacy. The exterior features recently painted wood siding, enhancing curb appeal while reflecting ongoing care and maintenance. The layout offers spacious interiors, natural light, and functional living areas, all within a classic duplex configuration. With its convenient proximity to downtown Austin, parks, schools, and local employers, this property is well-positioned for steady rental demand. Whether you're looking to live in one unit and rent the other, or fully lease both for income, this duplex delivers a smart mix of character, location, and long-term upside.

Listing courtesy of NRT-Minnesota (CB Burnet) (Mike Wilen). Description from Realtor.com, MLS #7004300. 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: $179,000
Cash to close: $41,170
Price per unit: $89,500
GRM: 6.2

Each month

Cash flow: $366/mo
Cash-on-cash: 10.7%
Cap rate: 8.8%
DSCR: 1.38×

Break-even

Price that breaks even: $247,826
Rent that breaks even: $1,949/mo

Long run

Year 30: property vs stocks: $1.33M vs $313K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,425
Vacancy (6%)	−$146
Collected	$2,280
Property tax Listing	−$109
Insurance Estimate	−$210
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$194
Capital reserve (9% of rent)	−$218
Net operating income	$1,319
Mortgage (principal + interest)	−$953
Cash flow	$366
Principal paid down (equity, not cash)	$121

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	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $161,100 of principal by year 30	$0
Plus rental profits, invested at 7%$335,736 of profit by year 30, before investment growth	$755,195
What you'd walk away with	$1,163,607
If you put the same money in stocks
Cash to close ($23,270) invested at 7%	$177,137
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	$177,137
Building minus stocks	$986,470

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $161,100 of principal by year 30	$0
Plus rental profits, invested at 7%$219,650 of profit by year 30, before investment growth	$443,310
What you'd walk away with	$851,721
If you put the same money in stocks
Cash to close ($23,270) invested at 7%	$177,137
Monthly shortfalls ($1,039 total by yr 30) investedThe money you'd have put into the building while it lost money	$7,233
What you'd walk away with	$184,370
Building minus stocks	$667,351

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $152,100 of principal by year 30	$0
Plus rental profits, invested at 7%$357,561 of profit by year 30, before investment growth	$824,808
What you'd walk away with	$1,210,403
If you put the same money in stocks
Cash to close ($21,970) invested at 7%	$167,241
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	$167,241
Building minus stocks	$1,043,162

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $152,100 of principal by year 30	$0
Plus rental profits, invested at 7%$240,437 of profit by year 30, before investment growth	$505,690
What you'd walk away with	$891,285
If you put the same money in stocks
Cash to close ($21,970) invested at 7%	$167,241
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	$167,241
Building minus stocks	$724,044

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $143,200 of principal by year 30	$0
Plus rental profits, invested at 7%$383,441 of profit by year 30, before investment growth	$921,340
What you'd walk away with	$1,329,751
If you put the same money in stocks
Cash to close ($41,170) invested at 7%	$313,397
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	$313,397
Building minus stocks	$1,016,354

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $143,200 of principal by year 30	$0
Plus rental profits, invested at 7%$266,317 of profit by year 30, before investment growth	$602,222
What you'd walk away with	$1,010,633
If you put the same money in stocks
Cash to close ($41,170) invested at 7%	$313,397
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	$313,397
Building minus stocks	$697,236

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $135,200 of principal by year 30	$0
Plus rental profits, invested at 7%$402,601 of profit by year 30, before investment growth	$981,671
What you'd walk away with	$1,367,266
If you put the same money in stocks
Cash to close ($38,870) invested at 7%	$295,888
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	$295,888
Building minus stocks	$1,071,378

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $135,200 of principal by year 30	$0
Plus rental profits, invested at 7%$285,477 of profit by year 30, before investment growth	$662,553
What you'd walk away with	$1,048,148
If you put the same money in stocks
Cash to close ($38,870) invested at 7%	$295,888
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	$295,888
Building minus stocks	$752,260

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $134,250 of principal by year 30	$0
Plus rental profits, invested at 7%$404,877 of profit by year 30, before investment growth	$988,836
What you'd walk away with	$1,397,247
If you put the same money in stocks
Cash to close ($50,120) invested at 7%	$381,526
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	$381,526
Building minus stocks	$1,015,721

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$434,480
Minus 6% selling cost	−$26,069
Minus loan still owedTenants' rent paid down all $134,250 of principal by year 30	$0
Plus rental profits, invested at 7%$287,753 of profit by year 30, before investment growth	$669,718
What you'd walk away with	$1,078,129
If you put the same money in stocks
Cash to close ($50,120) invested at 7%	$381,526
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	$381,526
Building minus stocks	$696,603

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $126,750 of principal by year 30	$0
Plus rental profits, invested at 7%$422,840 of profit by year 30, before investment growth	$1,045,396
What you'd walk away with	$1,430,991
If you put the same money in stocks
Cash to close ($47,320) invested at 7%	$360,212
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	$360,212
Building minus stocks	$1,070,779

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$410,207
Minus 6% selling cost	−$24,612
Minus loan still owedTenants' rent paid down all $126,750 of principal by year 30	$0
Plus rental profits, invested at 7%$305,716 of profit by year 30, before investment growth	$726,278
What you'd walk away with	$1,111,873
If you put the same money in stocks
Cash to close ($47,320) invested at 7%	$360,212
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	$360,212
Building minus stocks	$751,661

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 $1.33M, stocks $313K. 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.

3 bed estimate $1,475/mo · range $1,275–$1,700 · 141 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3rd St SE, Austin	$1,295	3 / 2	1,225	0.4 mi	2026-03-20	Apartment
1105 3rd St NW, Austin	$1,300	3 / 1	950	0.9 mi	2025-07-30	Apartment
2nd Dr NE, Austin	$1,275	3 / 1.5	1,296	1.0 mi	2026-09-26	Apartment
203 31st St SW, Austin	$1,270	3 / 2	1,096	2.0 mi	2025-01-03	Apartment
1730 Restoration Rd SW, Rochester	$1,618	3 / 2	1,173	34.1 mi	2026-08-28	Apartment
560 28th St SE, Rochester	$2,199	3 / 2	1,334	34.1 mi	2025-01-03	Apartment
182 Grandeville Rd SW, Rochester	$2,242	3 / 2	1,440	34.4 mi	2025-01-03	Apartment
1990 Ashland Dr NW, Rochester	$1,570	3 / 2	1,167	34.5 mi	2025-04-08	Apartment
1823 Quarry Ridge Pl NW, Rochester	$1,975	3 / 2	1,341	34.9 mi	2025-01-03	Apartment
412 14th St SE, Rochester	$1,070	3 / 1	941	35.0 mi	2025-04-19	Apartment

2 bed estimate $950/mo · range $950–$1,100 · 12 rentals within 1.25 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
814 9th Ave SW Apt A, Austin	$750	2 / 1	—	0.5 mi	—	Apartment
711 1st Dr NW Apt B, Austin	$975	2 / 1	702	0.6 mi	—	Apartment
915 1st Dr NW, Austin	$800	2 / 1	775	0.8 mi	2026-09-07	Apartment
601 1/2 13th St SE, Austin	$1,050	2 / 1	—	0.8 mi	—	Apartment
907 8th St SE, Austin	$1,100	2 / 1	761	0.8 mi	2026-08-29	Apartment
1010 5th St NW, Austin	$950	2 / 1	1,200	0.8 mi	2023-04-01	Apartment
600 14th St NW Apt 6, Austin	$995	2 / 1	700	0.9 mi	—	Apartment
200 11th Ave NW Apt 303, Austin	$950	2 / 1	800	1.0 mi	—	Apartment
202 11th Ave NW Apt 402, Austin	$950	2 / 1	800	1.0 mi	—	Apartment
204 11th Ave NW Apt 901, Austin	$950	2 / 1	800	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

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

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 276 days on market

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 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%

Status history

2026-01-02New at $179,000

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.