3154 15th Ave S

Minneapolis, MN · Powderhorn Park · View the listing ↗

Cash flows

30 photos

Photos, via Realtor.com.

Asking price: $530,000
Monthly cash flow: $341
Estimated rent: $5,900/mo
Break-even price: $594,013

Adjust the numbers See the full breakdown

From the listing

Outstanding owner-occupant/investment opportunity less than a block from Powderhorn Park! This triplex offers over 3,500 finished sq. ft. above grade with a 4BR/1BA main-floor unit, 3BR/1BA second-floor unit, and 2BR/1BA third-floor unit. The main-floor unit is rented for $2,275 with the same tenant for over 5 years. The vacant second-floor unit was rented through June for $2,090 and has just been renovated with new kitchen cabinets, countertops and appliances, fresh paint throughout, while preserving beautiful original built-ins and carved woodwork. The third-floor unit was renovated in 2026 and is leased at $1,250/month through 3/31/27. Additional highlights include high ceilings, a 2024 roof, 200 Amp Service, two newer porches, triple corner lot, fenced flat backyard, 2-car garage, and off-street parking for at least 3 additional vehicles. The 1,400+ sq. ft. freshly painted unfinished basement offers substantial storage and future value-add potential. Walk to Powderhorn Park, Mercado Central, restaurants and transit; less than a mile to Abbott Northwestern Hospital and convenient to Downtown, the U of M and Minneapolis Institute of Art.

Description from Realtor.com, MLS #7151057. 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: $530,000
Cash to close: $121,900
Price per unit: $176,667
GRM: 7.5

Each month

Cash flow: $341/mo
Cash-on-cash: 3.4%
Cap rate: 7.2%
DSCR: 1.12×

Break-even

Price that breaks even: $594,013
Rent that breaks even: $5,452/mo

Long run

Year 30: property vs stocks: $2.81M vs $928K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,900
Vacancy (6%)	−$354
Collected	$5,546
Property tax Public record	−$676
Insurance Estimate	−$331
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$531
Capital reserve (9% of rent)	−$531
Net operating income	$3,162
Mortgage (principal + interest)	−$2,821
Cash flow	$341
Principal paid down (equity, not cash)	$359

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	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $477,000 of principal by year 30	$0
Plus rental profits, invested at 7%$592,383 of profit by year 30, before investment growth	$1,163,161
What you'd walk away with	$2,372,423
If you put the same money in stocks
Cash to close ($68,900) invested at 7%	$524,484
Monthly shortfalls ($8,412 total by yr 30) investedThe money you'd have put into the building while it lost money	$56,592
What you'd walk away with	$581,077
Building minus stocks	$1,791,346

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $477,000 of principal by year 30	$0
Plus rental profits, invested at 7%$336,939 of profit by year 30, before investment growth	$571,204
What you'd walk away with	$1,780,466
If you put the same money in stocks
Cash to close ($68,900) invested at 7%	$524,484
Monthly shortfalls ($37,929 total by yr 30) investedThe money you'd have put into the building while it lost money	$241,047
What you'd walk away with	$765,531
Building minus stocks	$1,014,935

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $468,000 of principal by year 30	$0
Plus rental profits, invested at 7%$611,395 of profit by year 30, before investment growth	$1,214,422
What you'd walk away with	$2,400,868
If you put the same money in stocks
Cash to close ($67,600) invested at 7%	$514,588
Monthly shortfalls ($5,598 total by yr 30) investedThe money you'd have put into the building while it lost money	$38,241
What you'd walk away with	$552,829
Building minus stocks	$1,848,039

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $468,000 of principal by year 30	$0
Plus rental profits, invested at 7%$353,692 of profit by year 30, before investment growth	$610,676
What you'd walk away with	$1,797,122
If you put the same money in stocks
Cash to close ($67,600) invested at 7%	$514,588
Monthly shortfalls ($32,856 total by yr 30) investedThe money you'd have put into the building while it lost money	$210,906
What you'd walk away with	$725,494
Building minus stocks	$1,071,628

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $424,000 of principal by year 30	$0
Plus rental profits, invested at 7%$725,221 of profit by year 30, before investment growth	$1,598,506
What you'd walk away with	$2,807,768
If you put the same money in stocks
Cash to close ($121,900) invested at 7%	$927,934
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	$927,934
Building minus stocks	$1,879,834

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $424,000 of principal by year 30	$0
Plus rental profits, invested at 7%$443,302 of profit by year 30, before investment growth	$843,158
What you'd walk away with	$2,052,420
If you put the same money in stocks
Cash to close ($121,900) invested at 7%	$927,934
Monthly shortfalls ($3,043 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,064
What you'd walk away with	$948,997
Building minus stocks	$1,103,423

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $416,000 of principal by year 30	$0
Plus rental profits, invested at 7%$744,382 of profit by year 30, before investment growth	$1,658,837
What you'd walk away with	$2,845,283
If you put the same money in stocks
Cash to close ($119,600) invested at 7%	$910,426
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	$910,426
Building minus stocks	$1,934,857

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $416,000 of principal by year 30	$0
Plus rental profits, invested at 7%$461,066 of profit by year 30, before investment growth	$893,957
What you'd walk away with	$2,080,403
If you put the same money in stocks
Cash to close ($119,600) invested at 7%	$910,426
Monthly shortfalls ($1,646 total by yr 30) investedThe money you'd have put into the building while it lost money	$11,531
What you'd walk away with	$921,957
Building minus stocks	$1,158,446

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $397,500 of principal by year 30	$0
Plus rental profits, invested at 7%$788,691 of profit by year 30, before investment growth	$1,798,353
What you'd walk away with	$3,007,615
If you put the same money in stocks
Cash to close ($148,400) invested at 7%	$1,129,659
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	$1,129,659
Building minus stocks	$1,877,956

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,286,449
Minus 6% selling cost	−$77,187
Minus loan still owedTenants' rent paid down all $397,500 of principal by year 30	$0
Plus rental profits, invested at 7%$503,730 of profit by year 30, before investment growth	$1,021,942
What you'd walk away with	$2,231,204
If you put the same money in stocks
Cash to close ($148,400) invested at 7%	$1,129,659
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	$1,129,659
Building minus stocks	$1,101,545

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $390,000 of principal by year 30	$0
Plus rental profits, invested at 7%$806,654 of profit by year 30, before investment growth	$1,854,913
What you'd walk away with	$3,041,359
If you put the same money in stocks
Cash to close ($145,600) invested at 7%	$1,108,344
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	$1,108,344
Building minus stocks	$1,933,015

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,262,176
Minus 6% selling cost	−$75,731
Minus loan still owedTenants' rent paid down all $390,000 of principal by year 30	$0
Plus rental profits, invested at 7%$521,693 of profit by year 30, before investment growth	$1,078,502
What you'd walk away with	$2,264,948
If you put the same money in stocks
Cash to close ($145,600) invested at 7%	$1,108,344
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	$1,108,344
Building minus stocks	$1,156,604

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 $2.81M, stocks $928K. 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.

4 bed estimate $2,625/mo · range $2,525–$3,025 · 20 rentals within 2.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2820 12th Ave S, Minneapolis	$2,500	11 / 5	2,880	0.5 mi	2026-08-06	Duplex triplex
2820 12th Ave S Apt 1, Minneapolis	$2,500	4 / 2	1,440	0.5 mi	2026-08-13	Duplex triplex
2540 12th Ave S Apt 2, Minneapolis	$2,325	5 / 2	1,700	0.8 mi	—	Apartment
220 E 27th St, Minneapolis	$2,600	4 / 1	2,516	1.1 mi	2026-04-04	Apartment
2529 Pleasant Ave Unit 2, Minneapolis	$2,500	4 / 2	2,000	1.6 mi	2026-08-25	Apartment
811 28th Ave S, Minneapolis	$2,200	5 / 2	—	1.8 mi	2026-05-20	Apartment
2449 Lyndale Ave S, Minneapolis	$2,395	4 / 3	1,804	1.9 mi	2026-06-02	Apartment
648 Ontario St SE, Minneapolis	$2,900	5 / 1	1,900	2.1 mi	—	Apartment
629 Oak St SE # 1, Minneapolis	$3,000	5 / 2	2,679	2.1 mi	—	Apartment
3448 Girard Ave S, Minneapolis	$2,595	4 / 2	2,200	2.1 mi	2026-08-28	Apartment

3 bed estimate $1,800/mo · range $1,675–$2,200 · 14 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
2835 11th Ave S, Minneapolis	$1,700	3 / 2	1,166	0.4 mi	2026-05-21	Apartment
2742 18th Ave S, Minneapolis	$1,850	3 / 1	1,270	0.6 mi	2026-09-08	Apartment
3336 4th Ave S Apt 4, Minneapolis	$1,595	3 / 1	1,100	0.8 mi	—	Apartment
3336 4th Ave S Apt 2, Minneapolis	$1,795	3 / 1	1,100	0.8 mi	—	Apartment
2500 17th Ave S Unit 2, Minneapolis	$1,200	3 / 1	—	0.9 mi	2026-06-05	Apartment
912 E 25th St Apt 2, Minneapolis	$1,695	3 / 1	1,014	0.9 mi	—	Apartment
912 E 25th St Apt 3, Minneapolis	$1,675	3 / 1	1,014	0.9 mi	—	Apartment
2407 Elliot Upper Ave Unit Elliot, Minneapolis	$2,300	3 / 1	2,304	1.0 mi	2025-03-15	Duplex triplex
200 E 27th St, Minneapolis	$1,835	3 / 1	1,400	1.1 mi	2026-09-15	Apartment
3333 Nicollet Ave, Minneapolis	$2,499	3 / 2.5	1,400	1.2 mi	2026-06-05	Apartment

2 bed estimate $1,475/mo · range $1,300–$1,700 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3140 16th Ave S, Minneapolis	$1,300	2 / 1	800	0.1 mi	2026-10-03	Apartment
2944 17th Ave S, Minneapolis	$1,649	2 / 2	843	0.3 mi	2026-03-26	Apartment
2835 11th Ave S, Minneapolis	$1,557	2 / 2	862	0.4 mi	2026-05-21	Apartment
2643 12th Ave S Unit 1, Minneapolis	$1,785	2 / 1	—	0.7 mi	2023-06-08	Apartment
2835 Park Ave, Minneapolis	$1,340	2 / 1	—	0.7 mi	2026-07-17	Apartment
3549 Columbus Ave S, Minneapolis	$1,250	2 / 1	800	0.7 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

low$521 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 0202824130113: special assessments (current) = $520.56

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)	$8,116
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,973
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1904: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear	9% / 9%

Status history

2026-10-03New at $530,000

County record Public record

Recorded as	triplex
Living units	3
Year built	1904
Market value (2026)	$433,400
Property tax	$8,116
Special assessments	$521
Homestead	no
Last sale	2021-03-01 · $375,000

Source: Hennepin County parcel records.

City rental license

CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

MN 55, about 1273 m away.

Crime in Powderhorn Park

526 incidents in the last 12 months (63 per 1,000 residents), −6% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).