6569 Olive Ln N · Maple Grove, MN 55311

$265,000

2 bd · 2.0 ba · 1,238 sqft · Condo public records · 35 Days on market

Built 2005 $370/mo HOA · 17% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.3/30.0
• Schools +4.2/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Do not miss this enjoyable immaculate townhome with brand new carpet throughout and fresh interior paint. Inviting open great room floor plan for easy living and entertaining! No cramped feeling here! Large windows for lots of natural light. Nice kitchen with plenty of cabinets, ceramic tile flooring and handy counter seating. There's a multi-use dining area with walkout to the deck. Master BR w/walk-n closet, 2nd BR & full bath up. Convenient location, parks & trails nearby. Poss. quick close

Key facts

• Large windows
• Large open spaces
• $370 HOA

Tags

• LARGE OPEN SPACES
• LARGE WINDOWS
• SMART STORAGE FEATURES
• LARGE LOWER-LEVEL ENTRY

Property features AI

Finance

• HOA & community: HOA: Gassen; Monthly association fee $370 (includes lawn care, professional management, snow removal, water)

Exterior

• Parking: Attached garage with automatic door opener; 2-car garage (garage dimensions approx. 17.7 x 19.6, door 16' wide x 7' high)
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Attached residential property; Two levels; Entry level includes main and upper floors
• Construction: Frame construction; Asphalt roof; Slab foundation (foundation area approx. 614, foundation dimensions approx. 25 x 27)
• Exterior features: Deck; Stone and vinyl exterior; In-ground sprinkler; Patio/porch deck

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: 2 bedrooms (both on the upper level)
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas fireplace (1); Informal dining area; Primary bedroom walk-in closet; Walk-in closet; Indoor sprinkler system
• Laundry & utility: Washer and dryer (hookup included); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (15.9% below list).
• Recommended offer: $202k (23.9% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 3.4% in Maple Grove — 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 81/100 on livability (#54 in MN, #1,353 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D, cost of living D.
• Osseo Public School District (suburban): math 42% / reading 51% proficiency, ranked #129 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Basswood Elementary (math 76% / reading 71%, grade A, #41 of 857 statewide, top 5%, 865 students, 18% FRL); Maple Grove Middle School (math 45% / reading 58%, grade C, #65 of 258 statewide, top 26%, 1,598 students, 30% FRL); Maple Grove Senior High (math 53% / reading 69%, grade C+, #42 of 471 statewide, top 9%, 2,324 students, 21% FRL).
• Zoned-school proficiency averages 62% at this address vs 46% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Osseo Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.9%/yr); 304 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent is only 17% of the median local income ($154k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $187k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $201,595 (23.9% 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 35 days. Have you received any prior offers? Is the seller open to a 24% 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 A-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: 0.84% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.86% rent growth · sell at horizon

5-year hold

• IRR: -22.4%
• Equity multiple: 0.20×
• Total profit: $-58,996
• Equity at exit: $39,512

10-year hold

• IRR: -9.9%
• Equity multiple: 0.31×
• Total profit: $-51,257
• Equity at exit: $22,912

Cash invested: $74,200 (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 55311

• Rents YoY: 5.9%
• Active inventory: 304
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,228 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$249 /mo · $2,987/yr
• Insurance: −$110
• HOA: −$370
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-359

Break-even live

Break-even rent $2,682

Max offer price $201,595

Occupancy floor —

Sensitivity live

Price	-10% $-209	-5% $-284	+0% $-359	+5% $-434	+10% $-509
Rent	-10% $-535	-5% $-447	+0% $-359	+5% $-271	+10% $-183
Rate	-1.0pp $-225	-0.5pp $-292	base $-359	+0.5pp $-428	+1.0pp $-497

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7148 Brockton Ln N Maple Grove, MN	2.0–3.0	2.0	1309	$2,135	$1.63	0d	8	1.05mi
6876 Vicksburg Ln N Maple Grove, MN	2.0–3.0	1.5	1110	$2,000	$1.80	1d	6	1.26mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-04
   days on market $265,000 Active 35 DOM
2. 2026-06-03
   days on market $265,000 Active 34 DOM
3. 2026-06-02
   days on market $265,000 Active 33 DOM
4. 2026-06-01
   days on market $265,000 Active 32 DOM
5. 2026-05-31
   days on market $265,000 Active 31 DOM
6. 2026-04-30
   listed $265,000 Active 442-char remark
7. 2017-06-14
   soldstatus $187,000
8. 2017-06-05
   soldstatus $187,000 Sold 508-char remark

   Show marketing remark (508 chars)

   Do not miss this enjoyable immaculate townhome with brand new carpet throughout and fresh interior paint. Inviting open great room floor plan for easy living and entertaining! No cramped feeling here! Large windows for lots of natural light. Nice kitchen with plenty of cabinets, ceramic tile flooring and handy counter seating. There's a multi-use dining area with walkout to the deck. Master BR w/walk-n closet, 2nd BR & full bath up. Convenient location, parks & trails nearby. Poss. quick close

9. 2017-05-10
   status Pending 508-char remark

   Show marketing remark (508 chars)

   Do not miss this enjoyable immaculate townhome with brand new carpet throughout and fresh interior paint. Inviting open great room floor plan for easy living and entertaining! No cramped feeling here! Large windows for lots of natural light. Nice kitchen with plenty of cabinets, ceramic tile flooring and handy counter seating. There's a multi-use dining area with walkout to the deck. Master BR w/walk-n closet, 2nd BR & full bath up. Convenient location, parks & trails nearby. Poss. quick close

10. 2017-04-22
    historical Contingent - Inspection 508-char remark

    Show marketing remark (508 chars)

    Do not miss this enjoyable immaculate townhome with brand new carpet throughout and fresh interior paint. Inviting open great room floor plan for easy living and entertaining! No cramped feeling here! Large windows for lots of natural light. Nice kitchen with plenty of cabinets, ceramic tile flooring and handy counter seating. There's a multi-use dining area with walkout to the deck. Master BR w/walk-n closet, 2nd BR & full bath up. Convenient location, parks & trails nearby. Poss. quick close

11. 2017-04-12
    listed $187,000 Active 508-char remark

    Show marketing remark (508 chars)

    Do not miss this enjoyable immaculate townhome with brand new carpet throughout and fresh interior paint. Inviting open great room floor plan for easy living and entertaining! No cramped feeling here! Large windows for lots of natural light. Nice kitchen with plenty of cabinets, ceramic tile flooring and handy counter seating. There's a multi-use dining area with walkout to the deck. Master BR w/walk-n closet, 2nd BR & full bath up. Convenient location, parks & trails nearby. Poss. quick close

12. 2009-09-21
    historical
13. 2009-07-06
    listed $167,900
14. 2006-03-24
    soldstatus $186,820
15. 2006-01-18
    historical
16. 2005-12-09
    listed $204,820

ⓘ 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: $2,987 · $249/mo
• Projected year-2 tax: $2,987 · $249/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°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: $26,736
• − Mortgage interest: −$14,844
• − Property taxes: −$2,987
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − HOA: −$4,440
• − Depreciation: −$7,709
• Taxable loss: −$8,847
• Est. tax savings @ 24.0%: +$2,123
• After-tax cash flow: $-2,184/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: Osseo Public School District
• NCES district ID: 2725200
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $76,168
• Composite: 42.35/100
• National rank: #3250
• State rank: #129 of 301 in MN

Livability — Maple Grove

• Score: 81/100
• State rank: #54
• US rank: #1353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maple Grove, MN
• County: Hennepin County · 1,150,272 people
• City population: 77,762
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 38,472
• Household income: $153,568
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 497.0

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: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 8% Black 7% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 12% · Canada, Vietnam, South Korea
• Languages at home: 87% English-only · Other Indo-European 3% Vietnamese 1% Chinese 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: ▼ -181.69%
• Current HPI: 213.3896
• Rent YoY: ▲ 5.86%
• 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

+29.4% since first listed

12 events — show timeline

• 2026-06-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-14 Sold (Public Records) $187,000 Public Records
• 2017-06-05 Sold (MLS) $187,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-12 Listed $187,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-06 Listed $167,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-24 Sold (MLS) $186,820 NORTHSTARMLS as Distributed by MLS Grid
• 2006-01-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-09 Listed $204,820 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $2,987 · +0.6% YoY. Source: county tax records.