350 E 98th St · Bloomington, MN 55420

$189,000

3 bd · 2.0 ba · 1,236 sqft · SingleFamily · 7 Days on market

Built 1956 Fair condition 0.43 ac lot

---

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 +13.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MUST SEE, IMMACULATE, LOADED W/ AMENITIES:REMODELED ENLARGED KITCH.TO DIE FOR, HW FLOORS, 2 FPs, JACUZZI TUB, REVERSE OSMOSIS WATER FILTRATION, HUGE FENCED BACK YARD, PET KENNEL, O'SIZE 2-CAR GAR. SEE SUPPLEMENT FOR ADD'L. FEATURES!

Key facts

• Spacious backyard
• Hardwood floors
• Detached garage

Tags

• HARDWOOD FLOORS
• WOOD BURNING FIREPLACES
• DETACHED GARAGE
• SPACIOUS BACKYARD
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO DINING

Property features AI

Finance

• Other: Above-grade finished area and main level finished area reported as 1,236; Below-grade area also reported; total building area reported as 2,472

Exterior

• Parking: Asphalt driveway; 2-car garage with garage door opener
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Residential property; One level (main level finished area); Entry and living areas on a single level
• Construction: Asphalt roof; Foundation: Other; Foundation area noted
• Exterior features: Deck; Chain link and wood fencing; Heavy tree coverage; Road frontage with county road, curbs, and sidewalks

Interior

• Kitchen: Cooktop; Range; Microwave; Refrigerator; Freezer; Dishwasher; Exhaust fan
• Bedrooms: 3 bedrooms on one level; Main floor bedroom; Bedroom: 14x11 (Main); Bedroom: 12x11 (Main); Bedroom: 12x9 (Main)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bath on main floor; 1 three-quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Hardwood floors; Natural woodwork; Tile floors; Kitchen window; Multiple phone lines; Electronic air filter; Eat-in kitchen / living-dining area configuration
• Laundry & utility: Washer/dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4 ($45/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 $166k (12.3% below list).
• Recommended offer: $166k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Bloomington — 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 76/100 on livability (#168 in MN, #3,640 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D-, amenities F, health & safety F.
• Bloomington Public School District (urban): math 35% / reading 49% proficiency, ranked #192 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,810 (12.3% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-30,361
• Equity at exit: $28,181

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-26,028
• Equity at exit: $16,341

Cash invested: $52,920 (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 55420

• Active inventory: 77
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,658 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $4

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 95%

Sensitivity live

Price	-10% $134	-5% $69	+0% $4	+5% $-62	+10% $-127
Rent	-10% $-127	-5% $-62	+0% $4	+5% $69	+10% $135
Rate	-1.0pp $99	-0.5pp $52	base $4	+0.5pp $-45	+1.0pp $-95

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9830 Nicollet Ave S Minneapolis, MN	2.0	1.0	800	$1,325	$1.66	25d	1	0.37mi
9840 Nicollet Ave Unit 9 Minneapolis, MN	2.0	1.0	900	$1,495	$1.66	45d	1	0.38mi
10044 Nicollet Ave Unit 206 Minneapolis, MN	2.0	1.0	1100	$1,395	$1.27	45d	1	0.53mi
106 W 104th St Minneapolis, MN	4.0	2.0	1486	$2,495	$1.68	45d	1	0.93mi
9119 10th Ave S Minneapolis, MN	3.0	1.0	1100	$2,295	$2.09	21d	1	0.95mi
600 W 93rd St Minneapolis, MN	1.0–2.0	1.0	826	$1,595	$1.93	0d	4	0.96mi
12650 Pleasant Ave S Burnsville, MN	1.0–2.0	1.0–2.0	868	$1,645	$1.90	0d	10	1.01mi
10160 Lyndale Ave S Bloomington, MN	2.0–3.0	1.0–2.0	1362	$2,382	$1.75	6d	2	1.03mi
9100 Lyndale Ave S Unit 2002 Minneapolis, MN	2.0	1.0	875	$1,295	$1.48	6d	1	1.16mi
9400 Old Cedar Ave S #219 Minneapolis, MN	2.0	1.5	980	$2,000	$2.04	4d	1	1.21mi
9400 Old Cedar Ave S Bloomington, MN	1.0–2.0	1.0–1.5	840	$2,000	$2.38	6d	2	1.23mi
9100 Old Cedar Ave S Minneapolis, MN	1.0–2.0	1.0	750	$1,325	$1.77	0d	5	1.37mi
8601 Nicollet Ave Apt 2 Minneapolis, MN	2.0	1.0	950	$1,300	$1.37	45d	1	1.46mi

Listing history 7 events

1. 2026-06-17
   statusdays on market $189,000 Pending 7 DOM
2. 2026-06-01
   days on market $189,000 Active 6 DOM
3. 2026-05-31
   days on market $189,000 Active 5 DOM
4. 2026-05-26
   listed $189,000 Active
5. 2011-08-17
   soldstatus $185,500 232-char remark

   Show marketing remark (232 chars)

   MUST SEE, IMMACULATE, LOADED W/ AMENITIES:REMODELED ENLARGED KITCH.TO DIE FOR, HW FLOORS, 2 FPs, JACUZZI TUB, REVERSE OSMOSIS WATER FILTRATION, HUGE FENCED BACK YARD, PET KENNEL, O'SIZE 2-CAR GAR. SEE SUPPLEMENT FOR ADD'L. FEATURES!

6. 2011-07-25
   historical 232-char remark

   Show marketing remark (232 chars)

   MUST SEE, IMMACULATE, LOADED W/ AMENITIES:REMODELED ENLARGED KITCH.TO DIE FOR, HW FLOORS, 2 FPs, JACUZZI TUB, REVERSE OSMOSIS WATER FILTRATION, HUGE FENCED BACK YARD, PET KENNEL, O'SIZE 2-CAR GAR. SEE SUPPLEMENT FOR ADD'L. FEATURES!

7. 2011-07-05
   listed $180,000 232-char remark

   Show marketing remark (232 chars)

   MUST SEE, IMMACULATE, LOADED W/ AMENITIES:REMODELED ENLARGED KITCH.TO DIE FOR, HW FLOORS, 2 FPs, JACUZZI TUB, REVERSE OSMOSIS WATER FILTRATION, HUGE FENCED BACK YARD, PET KENNEL, O'SIZE 2-CAR GAR. SEE SUPPLEMENT FOR ADD'L. FEATURES!

ⓘ 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 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,897
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$5,498
• Taxable loss: −$3,151
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $802/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting, landscaping, and kitchen/bath updates, to improve its condition and value.

Repairs flagged

• Major Exposed subfloor in kitchen and bath — Structural damage
• Major Missing countertops and fixtures — Aesthetic and functional issues
• Minor Peeling paint — Aesthetic issue

Value-add opportunities

• Both Painting and repainting — Enhances curb appeal and interior aesthetics
• Both Landscaping and yard maintenance — Improves curb appeal and outdoor living space
• Both Kitchen and bath renovations — Addresses structural issues and enhances functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed subfloor in kitchen and bath · Structural damage	Major	$15,000–50,000
Missing countertops and fixtures · Aesthetic and functional issues	Major	$15,000–50,000
Peeling paint · Aesthetic issue	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Painting and repainting — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and yard maintenance — Improves curb appeal and outdoor living space ↑
• Both Kitchen and bath renovations — Addresses structural issues and enhances functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bloomington Public School District
• NCES district ID: 2705790
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $63,279
• Composite: 37.37/100
• National rank: #4431
• State rank: #192 of 301 in MN

Livability — Bloomington

• Score: 76/100
• State rank: #168
• US rank: #3640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, MN
• County: Hennepin County · 1,150,272 people
• City population: 88,605
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 24,451
• Household income: $82,170
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 800.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 53% Hispanic / Latino 18% Black 17% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 12% Cuban 1%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 3%
• Foreign-born: 19% · Canada, Vietnam, United Kingdom
• Languages at home: 74% English-only · Spanish 12% Other Asian/Pacific 2% Vietnamese 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: ▼ -247.94%
• Current HPI: 252.3077
• Rent YoY: —
• 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

+5.0% since first listed

4 events — show timeline

• 2026-05-26 Listed $189,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-17 Sold (MLS) $185,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-05 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid