11212 Aberdeen St NE Unit C · Blaine, MN 55449

$275,000

2 bd · 2.0 ba · 1,632 sqft · Condo public records · 53 Days on market

Built 2005 $169/sqft · 8% below area Est $298k · 8% under $438/mo HOA · 18% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +11.0/15.0
• Cash flow +8.1/30.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• $438 HOA
• 2 garage spots
• Built 2005

Property features AI

Finance

• Financial info: Conventional financing available
• HOA & community: HOA managed by Associa Minnesota; Monthly association fee of $438 covering hazard insurance, lawn care, grounds maintenance, professional management, sewer, shared amenities, snow removal, and water

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential attached property; Two levels; Entry on main level
• Construction: Slab foundation
• Exterior features: Stone and vinyl exterior; Asphalt pitched roof

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Two bedrooms (upper level); Second bedroom (upper level)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open living room; Dining room
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (11.0% below list).
• Recommended offer: $227k (17.6% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.9% in Blaine — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $198k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $226,704 (17.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.26%
• DSCR: 0.81
• GRM: 9.4

CMA / ARV

• ARV (median comp): $298,244
• List price: $275,000
• Delta: -7.79%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.24×
• Total profit: $-58,202
• Equity at exit: $41,003

10-year hold

• IRR: -11.6%
• Equity multiple: 0.26×
• Total profit: $-57,205
• Equity at exit: $23,777

Cash invested: $77,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,448 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$212 /mo · $2,550/yr
• Insurance: −$115
• HOA: −$438
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-273

Break-even live

Break-even rent $2,794

Max offer price $226,704

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1792	$2,500	$1.40	1d	1	0.13mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1800	$2,500	$1.39	12d	1	0.13mi
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	853	$2,070	$2.43	1d	7	0.78mi

HOA detail condo

• Monthly dues: $438 · $5,256/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $275,000 Active 53 DOM
2. 2026-06-17
   days on market $275,000 Active 52 DOM
3. 2026-06-16
   days on market $275,000 Active 51 DOM
4. 2026-06-15
   days on market $275,000 Active 50 DOM
5. 2026-06-13
   days on market $275,000 Active 48 DOM
6. 2026-06-13
   days on market $275,000 Active 47 DOM
7. 2026-06-09
   days on market $275,000 Active 44 DOM
8. 2026-06-08
   days on market $275,000 Active 43 DOM
9. 2026-06-07
   days on market $275,000 Active 42 DOM
10. 2026-06-04
    days on market $275,000 Active 39 DOM
11. 2026-06-03
    days on market $275,000 Active 38 DOM
12. 2026-06-02
    days on market $275,000 Active 37 DOM
13. 2026-06-01
    days on market $275,000 Active 36 DOM
14. 2026-05-31
    pricedays on market $275,000 Active 35 DOM
15. 2026-04-27
    listed $279,000 Active 516-char remark
16. 2019-12-03
    soldstatus $198,000
17. 2017-09-06
    soldstatus $170,100
18. 2010-05-11
    soldstatus $145,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $2,550 · $212/mo
• Projected year-2 tax: $2,815 · $235/mo
• Expected delta: +$265/yr (+$22/mo · 10.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,374
• − Mortgage interest: −$15,404
• − Property taxes: −$2,550
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − HOA: −$5,256
• − Depreciation: −$8,000
• Taxable loss: −$7,911
• Est. tax savings @ 24.0%: +$1,899
• After-tax cash flow: $-1,382/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

Amenities F Commute F Cost of living C Crime A Employment A+ Housing A+ Health & safety C User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+89.7% since first listed

5 events — show timeline

• 2026-05-31 Price Changed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Listed $279,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-03 Sold (Public Records) $198,000 Public Records
• 2017-09-06 Sold (Public Records) $170,100 Public Records
• 2010-05-11 Sold (Public Records) $145,000 Public Records

Property tax history

+4.7%/yr

Latest (2026): $2,550 · +4.9% YoY. Source: county tax records.