2427 17th Ave S · Minneapolis, MN 55404

$180,000

4 bd · 1.5 ba · 1,812 sqft · SingleFamily public records · 11 Days on market

Built 1910 4,791 sqft lot

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Why this score? — see what drove the B- 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).

• Cash flow +29.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a newly rehabbed 4-bedroom, 1-bath single-family home in an excellent location with easy transportation access to local and downtown Minneapolis businesses and entertainment venues. Because this home is a community land trust property, buyers must meet specific eligibility requirements to purchase.

Key facts

• 4,791 sq ft lot
• Built 1910
• Listed 10 days

Property features AI

Finance

• Financial info: Land is leased ($20)

Exterior

• Parking: On-street parking only
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Two levels; Entry includes main and upper levels
• Construction: Foundation listed as 'Other'; Below-grade finished area present
• Exterior features: Porch; Chain link fence; Lot approximately 0.11 acres (38 x 123)

Interior

• Kitchen: Kitchen with center island; Kitchen window; Dishwasher; Range; Refrigerator
• Bedrooms: Four bedrooms (upper level; one bedroom listed as 'Bedroom 2', 'Bedroom 3', 'Bedroom 4')
• Bathrooms: One full bath (upper level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Living/Dining room; Full basement; 4 bedrooms on one level (property noted as rehabbed)
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 10.5% vs local median 3.1% in Minneapolis — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#110 in MN, #2,525 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living C-, crime F.
• Minneapolis Public School District (urban): math 35% / reading 46% proficiency, ranked #217 of 301 in MN (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.0%/yr); 103 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $2,190/mo this rent would consume 63% of the median local household income ($42k/yr) (locally 2999% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 34y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $64k; list at $180k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $6,974
• Equity at exit: $26,839

10-year hold

• IRR: 11.3%
• Equity multiple: 1.81×
• Total profit: $40,978
• Equity at exit: $15,563

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 34 Tenant-Leaning
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City Minneapolis: 34 Tenant-Leaning · D+50

Tenant Opportunity to Purchase; renter's protections.

Methodology + full state rankings →

ZIP-level market 55404

• Home prices YoY: -33.3%
• Rents YoY: 1.0%
• Active inventory: 103
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$944
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $636

Break-even live

Break-even rent $1,385

Max offer price $180,000

Occupancy floor 66%

Sensitivity live

Price	-10% $738	-5% $687	+0% $636	+5% $585	+10% $534
Rent	-10% $463	-5% $550	+0% $636	+5% $723	+10% $809
Rate	-1.0pp $727	-0.5pp $682	base $636	+0.5pp $590	+1.0pp $542

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2540 12th Ave S Apt 2 Minneapolis, MN	5.0	2.0	1700	$2,450	$1.44	45d	1	0.41mi
2121 11th Ave S Unit 2 Minneapolis, MN	4.0	1.0	1800	$2,450	$1.36	5d	1	0.44mi
1819 15th Ave S Minneapolis, MN	3.0	1.5	1700	$2,050	$1.21	15d	1	0.46mi
739 E 27th St Unit 739 Minneapolis, MN	4.0	1.0	1699	$2,600	$1.53	25d	1	0.71mi
2016 25th Ave S Minneapolis, MN	4.0	2.0	1600	$1,900	$1.19	45d	1	0.72mi
735 E 16th St #2 Minneapolis, MN	3.0	1.0	1296	$1,650	$1.27	25d	1	0.90mi
2730 Portland Ave Minneapolis, MN	1.0–3.0	1.0–2.0	940	$1,755	$1.87	9d	3	0.97mi
220 E 27th St #1 Minneapolis, MN	4.0	1.0	2516	$3,100	$1.23	19d	1	1.16mi
2916 30th Ave S Unit D Minneapolis, MN	4.0	2.0	1853	$2,497	$1.35	45d	1	1.19mi
212 10th Ave S Minneapolis, MN	3.0	1.0–2.5	1490	$8,588	$5.76	3d	10	1.32mi
1111 3rd Ave S Unit 1511914P Minneapolis, MN	4.0	1.0–2.0	1081	$11,990	$11.09	4d	2	1.37mi
2821 1st Ave S Unit 2 Minneapolis, MN	3.0	1.0	1743	$1,600	$0.92	4d	1	1.37mi
412 E 34th St Minneapolis, MN	3.0	1.5	1763	$1,800	$1.02	25d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $180,000 Active 11 DOM
2. 2026-06-18
   days on market $180,000 Active 8 DOM
3. 2026-06-17
   days on market $180,000 Active 7 DOM
4. 2026-06-16
   days on market $180,000 Active 6 DOM
5. 2026-06-15
   days on market $180,000 Active 5 DOM
6. 2026-06-13
   remarks 307-char remark
7. 2026-06-13
   listed $180,000 Active 3 DOM

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $1,458 · $121/mo
• Expected delta: +$558/yr (+$47/mo · 62.1%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,280
• − Mortgage interest: −$10,083
• − Property taxes: −$899
• − Insurance: −$900
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − Depreciation: −$5,236
• Taxable income: $4,957
• Est. tax owed @ 24.0%: −$1,190
• After-tax cash flow: $6,445/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: Minneapolis Public School District
• NCES district ID: 2721240
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $50,521
• Composite: 34.92/100
• National rank: #5067
• State rank: #217 of 301 in MN

Livability — Minneapolis

• Score: 78/100
• State rank: #110
• US rank: #2525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minneapolis, MN
• County: Hennepin County · 1,150,272 people
• City population: 417,555
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 28,920
• Household income: $41,940
• Rent vs Own: 82.5% rent · 17.5% own
• Severe rent burden: 2999.0

Population outlook (Hennepin County) Hauer SSP2

• Today (2025): 1,405,227 people
• By 2030: 1,492,650 · +6.2%
• By 2040: 1,660,157 · +18.1%
• By 2050: 1,823,498 · +29.8%
• By 2075: 2,221,283 · +58.1%
• By 2100: 2,509,976 · +78.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 36% Black 32% Hispanic / Latino 20% Two or more races 10% Native American 5% Asian 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Romanian 3% Lithuanian 3%
• Foreign-born: 24% · Canada, China, United Kingdom
• Languages at home: 63% English-only · Spanish 13% Other Asian/Pacific 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hennepin

• 2024 margin: Solid D (+42.6) · D 70.2% · R 27.5% · Other 2.3%
• 2008→2024 swing: +14.0pp toward D · 2008: 28.6pp · 2024: 42.6pp
• All cycles: 2024: D+42.6 2020: D+43.2 2016: D+35.3 2012: D+27.1 2008: D+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.31%
• Current HPI: 224.8886
• Rent YoY: ▲ 1.00%
• 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

+295.6% since first listed

4 events — show timeline

• 2026-06-10 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-04 Sold (Public Records) $64,000 Public Records
• 1992-11-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-05-30 Listed $45,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-6.1%/yr

Latest (2025): $899 · -90.5% YoY. Source: county tax records.