11331 Aberdeen Cir NE · Blaine, MN 55449

$250,000

2 bd · 2.0 ba · 1,574 sqft · MultiFamily · 2 Days on market

Built 2002

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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).

• Cash flow +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +4.7/10.0
• 1% rule +4.6/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

High-demand Club West! Three bedrooms, completely updated townhouse. Open floor plan, High ceilings, Main level family room, dining room, and powder room all have new flooring. Generous sized bedrooms, huge walk-in closet. Enjoy all the shared amenities of Club West with an amazing community clubhouse featuring an outdoor pavilion, a spacious party room, tennis courts, swimming pool, large playground, exercise room, and miles of paved walking paths. Enjoy tons of green space and water features.

Key facts

• Tennis
• Entrance from garage
• Fitness center

Tags

• FITNESS CENTER
• SHARED AMENITIES
• POOL
• CLUBHOUSE
• TENNIS
• ENTRANCE FROM GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (3.5% below list).
• Recommended offer: $241k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.9% in Blaine — 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 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; 4 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $199k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $241,204 (3.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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 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: 0.96% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.9%
• Equity multiple: 0.63×
• Total profit: $-25,654
• Equity at exit: $37,276

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $7,154
• Equity at exit: $21,615

Cash invested: $70,000 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,412 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $178

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 88%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	2d	1	0.22mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1800	$2,500	$1.39	12d	1	0.22mi
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	853	$2,070	$2.43	2d	7	0.69mi
12373 Oak Park Blvd NE Blaine, MN	1.0–3.0	1.0–2.0	1023	$1,776	$1.74	2d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   days on market $250,000 Active 2 DOM
2. 2026-06-17
   remarks 695-char remark
3. 2026-06-17
   listed $250,000 Active 1 DOM

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

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: $28,944
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − Depreciation: −$7,273
• Taxable loss: −$1,963
• Est. tax savings @ 24.0%: +$471
• After-tax cash flow: $2,605/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

+32.4% since first listed

9 events — show timeline

• 2026-06-17 Listed $250,000 FSBO.com
• 2018-08-17 Sold (MLS) $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-18 Price Changed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-01 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-21 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-28 Listed $188,835 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-28 Sold (MLS) $188,835 NORTHSTARMLS as Distributed by MLS Grid