318 7th Ave NE · Minneapolis, MN 55413

$475,000

2 bd · 2.5 ba · 1,872 sqft · MultiFamily public records · 42 Days on market

Built 1900 5,227 sqft lot $254/sqft · 40% above area Est $344k · 38% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fantastic location in St. Anthony. Both units rented out. Updated interior in both units. Granite, stainless steel, new cabinets, updated bathrooms, carpet, paint. Each unit has brand new forced air furnace. Newer roof, detached garage. Property used to be a triplex. Back studio could be brough back to third unit. 24 hr. notice for showings.

Key facts

• Newer roof
• Triplex
• Updated kitchens

Tags

• TRIPLEX
• MISSISSIPPI RIVERFRONT
• NEWER MECHANICALS
• NEWER ROOF
• UPDATED KITCHENS

Property features AI

Finance

• Other: Neighborhood number 72
• Financial info: Property type: Residential income (triplex) with 3 units; Gross income reported at $43,200; Owner pays sewer, taxes, and trash collection; Water/sewer expense listed at $1,320; Trash expense listed at $600; Tenants pay cable TV, electricity, fuel, heat, lawn care, and water
• HOA & community: No HOA information provided

Exterior

• Parking: Gravel parking; Detached garage with 2 spaces (garage approx. 20 x 15)
• Security: No security features provided
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property (triplex); Two-story building; Above-grade finished area approximately 1,900 square feet
• Construction: Asphalt roof; Foundation is block; Building area total approximately 1,900 square feet; foundation area about 950
• Exterior features: Stucco and wood exterior; Lot dimensions about 40 x 132; Lot size approximately 0.12 acres

Interior

• Kitchen: Kitchens present in each unit (standard apartment kitchens)
• Bedrooms: Total of 5 bedrooms across units (individual unit breakdown below); Unit A: 2 bedrooms; Unit B: 2 bedrooms; Unit C: 1 bedroom
• Flooring: No flooring details provided
• Bathrooms: Unit A: 1 full bathroom; Unit B: 1 full bathroom plus 1 three-quarter bathroom; Unit C: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Full basement; Block foundation; Two levels
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $475k).
• Recommended offer: $461k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 fast (+4.6%/yr); 66 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).
• At $8,607/mo this rent would consume 121% of the median local household income ($85k/yr) (locally 661% 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 $3k of loan paydown is wiped out by about $14k 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 + 4.6% rent growth), your $133k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $460,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.81% ✓
• Cap rate: 15.42%
• Cash-on-cash: 32.59%
• DSCR: 2.45
• GRM: 4.6

CMA / ARV

• ARV (median comp): $343,708
• List price: $475,000
• Delta: 38.20%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.59% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.26×
• Total profit: $167,141
• Equity at exit: $70,824

10-year hold

• IRR: 37.7%
• Equity multiple: 4.77×
• Total profit: $501,353
• Equity at exit: $41,069

Cash invested: $133,000 (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 55413

• Home prices YoY: -26.4%
• Rents YoY: 4.6%
• Active inventory: 66
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $8,607 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$499 /mo · $5,983/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,807
• Net cashflow: $3,612

Break-even live

Break-even rent $4,035

Max offer price $475,000

Occupancy floor 53%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$8,607
Total (3 units)			$8,607

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
623 Spring St NE Unit 623 Minneapolis, MN	3.0	2.0	1650	$2,600	$1.58	43d	1	0.20mi
110 6th Ave NE Minneapolis, MN	2.0	1.0–2.0	831	$3,109	$3.74	3d	8	0.21mi
401 1st Ave NE Minneapolis, MN	2.0	1.0–2.0	922	$3,733	$4.05	2d	9	0.49mi
20 6th St NE Minneapolis, MN	2.0	1.0–2.0	858	$2,936	$3.42	1d	9	0.58mi
1428 Marshall St NE Minneapolis, MN	3.0	2.5	1800	$3,300	$1.83	1d	1	0.66mi
900 14th Ave NE Minneapolis, MN	2.0	1.0–2.0	876	$1,610	$1.84	2d	13	0.71mi
432 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	1067	$2,175	$2.04	2d	6	0.78mi
200 University Ave SE Minneapolis, MN	3.0	1.0–3.0	1554	$5,957	$3.83	1d	25	0.80mi
110 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	885	$3,799	$4.29	2d	20	0.83mi
626 NE Taylor St Unit 1 Minneapolis, MN	3.0	1.0	1250	$1,875	$1.50	43d	1	0.84mi
2035 W River Rd Minneapolis, MN	1.0–4.0	2.0	1034	$1,730	$1.67	4d	10	0.87mi
120 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.5	1039	$3,428	$3.30	1d	19	0.91mi
120 Hennepin Ave Minneapolis, MN	2.0	1.0–2.0	960	$3,665	$3.82	7d	10	0.91mi
636 22nd Ave NE Minneapolis, MN	3.0–4.0	2.5	1625	$3,090	$1.90	1d	3	0.98mi
222 Hennepin Ave Minneapolis, MN	1.0–2.0	1.0–2.0	994	$4,175	$4.20	2d	12	1.00mi
915 Washington Ave N Minneapolis, MN	2.0	2.0–2.5	1215	$2,549	$2.10	1d	5	1.05mi
360 N 5th Ave Minneapolis, MN	2.0	1.0–2.5	1185	$7,325	$6.18	2d	85	1.05mi
721 N 3rd St Minneapolis, MN	3.0	1.0–2.0	972	$3,544	$3.65	2d	10	1.07mi
270 Hennepin Ave Minneapolis, MN	3.0	1.0–3.0	1505	$6,755	$4.49	2d	54	1.10mi
815 SE 9th St Minneapolis, MN	1.0–4.0	1.0–4.0	1149	$1,938	$1.69	2d	13	1.13mi
207 24th Ave NE Minneapolis, MN	3.0	3.0	1575	$2,995	$1.90	43d	1	1.15mi
711 4th St SE Minneapolis, MN	4.0	1.0–2.0	1667	$2,000	$1.20	43d	51	1.16mi
365 Nicollet Mall Minneapolis, MN	3.0	1.0–3.5	1656	$7,058	$4.26	3d	33	1.20mi
400 Marquette Ave Minneapolis, MN	3.0	1.0–2.0	1103	$4,260	$3.86	2d	14	1.23mi
250 Portland Ave Minneapolis, MN	1.0–2.0	1.0–2.0	902	$3,372	$3.74	2d	11	1.25mi
465 Nicollet Mall Minneapolis, MN	2.0	1.0–3.0	1153	$4,620	$4.01	2d	14	1.26mi
240 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	1047	$3,875	$3.70	3d	2	1.28mi
101 S 5th St Minneapolis, MN	3.0	1.0–2.0	1249	$3,169	$2.54	2d	35	1.31mi
511 S 4th St Minneapolis, MN	2.0	1.0–2.0	882	$2,945	$3.34	2d	11	1.36mi
212 10th Ave S Minneapolis, MN	3.0	1.0–2.5	1490	$6,415	$4.31	1d	10	1.36mi
1000 University Ave SE Minneapolis, MN	2.0–4.0	1.0–2.0	1136	$1,880	$1.65	24d	9	1.38mi
700 S 4th St Minneapolis, MN	2.0	1.0–2.0	897	$3,995	$4.45	1d	26	1.39mi
608 2nd Ave S Minneapolis, MN	2.0	1.0–2.0	999	$2,300	$2.30	2d	34	1.41mi
1120 S 2nd St #213 Minneapolis, MN	2.0	2.0	1532	$3,895	$2.54	14d	1	1.43mi
600 5th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	915	$3,315	$3.62	1d	9	1.47mi
1220 Brook Ave SE Minneapolis, MN	3.0	1.0–3.0	807	$1,932	$2.39	3d	32	1.48mi
815 13th Ave SE Minneapolis, MN	1.0–4.0	1.0–2.0	1171	$1,583	$1.35	43d	46	1.49mi

Listing history 30 events

1. 2026-06-18
   days on market $475,000 Active 42 DOM
2. 2026-06-17
   days on market $475,000 Active 41 DOM
3. 2026-06-16
   days on market $475,000 Active 40 DOM
4. 2026-06-15
   days on market $475,000 Active 39 DOM
5. 2026-06-13
   days on market $475,000 Active 37 DOM
6. 2026-06-09
   days on market $475,000 Active 33 DOM
7. 2026-06-08
   days on market $475,000 Active 32 DOM
8. 2026-06-07
   days on market $475,000 Active 31 DOM
9. 2026-06-04
   days on market $475,000 Active 28 DOM
10. 2026-06-03
    days on market $475,000 Active 27 DOM
11. 2026-06-02
    days on market $475,000 Active 26 DOM
12. 2026-06-01
    days on market $475,000 Active 25 DOM
13. 2026-05-31
    days on market $475,000 Active 24 DOM
14. 2026-05-07
    listed $475,000 Active 376-char remark
15. 2024-03-01
    soldstatus $461,000
16. 2024-01-01
    historical
17. 2023-06-15
    listed $484,600 Active
18. 2023-06-14
    historical
19. 2017-07-28
    soldstatus $330,000
20. 2017-06-23
    soldstatus $330,000 Sold

    Show marketing remark (343 chars)

    Fantastic location in St. Anthony. Both units rented out. Updated interior in both units. Granite, stainless steel, new cabinets, updated bathrooms, carpet, paint. Each unit has brand new forced air furnace. Newer roof, detached garage. Property used to be a triplex. Back studio could be brough back to third unit. 24 hr. notice for showings.

21. 2017-05-22
    status Pending

    Show marketing remark (343 chars)

    Fantastic location in St. Anthony. Both units rented out. Updated interior in both units. Granite, stainless steel, new cabinets, updated bathrooms, carpet, paint. Each unit has brand new forced air furnace. Newer roof, detached garage. Property used to be a triplex. Back studio could be brough back to third unit. 24 hr. notice for showings.

22. 2017-05-15
    price $324,900

    Show marketing remark (343 chars)

    Fantastic location in St. Anthony. Both units rented out. Updated interior in both units. Granite, stainless steel, new cabinets, updated bathrooms, carpet, paint. Each unit has brand new forced air furnace. Newer roof, detached garage. Property used to be a triplex. Back studio could be brough back to third unit. 24 hr. notice for showings.

23. 2017-04-12
    listed $349,000 Active

    Show marketing remark (343 chars)

    Fantastic location in St. Anthony. Both units rented out. Updated interior in both units. Granite, stainless steel, new cabinets, updated bathrooms, carpet, paint. Each unit has brand new forced air furnace. Newer roof, detached garage. Property used to be a triplex. Back studio could be brough back to third unit. 24 hr. notice for showings.

24. 2016-06-21
    soldstatus $175,000
25. 2015-12-23
    historical
26. 2015-12-15
    historical Contingent - Inspection
27. 2015-11-11
    price $179,900
28. 2015-10-28
    price $189,900
29. 2015-10-08
    listed $199,900 Active
30. 1996-08-09
    soldstatus $47,500

ⓘ 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: $5,983 · $499/mo
• Projected year-2 tax: $5,983 · $499/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 ≥100°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: $103,284
• − Mortgage interest: −$26,607
• − Property taxes: −$5,983
• − Insurance: −$2,375
• − Repairs & maintenance: −$8,263
• − Management: −$8,263
• − Depreciation: −$13,818
• Taxable income: $37,975
• Est. tax owed @ 24.0%: −$9,114
• After-tax cash flow: $34,231/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): 14,655
• Household income: $85,282
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 661.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 84% English-only · Spanish 4% Russian/Polish/Slavic 1% 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: ▼ -95.68%
• Current HPI: 266.9323
• Rent YoY: ▲ 4.59%
• 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

+900.0% since first listed

17 events — show timeline

• 2026-05-07 Listed $475,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-01 Sold (Public Records) $461,000 Public Records
• 2024-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-15 Listed $484,600 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-14 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-28 Sold (Public Records) $330,000 Public Records
• 2017-06-23 Sold (MLS) $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-15 Price Changed $324,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-12 Listed $349,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-21 Sold (Public Records) $175,000 Public Records
• 2015-12-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-12-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-11 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-28 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-08 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-08-09 Sold (Public Records) $47,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $5,983 · +9.9% YoY. Source: county tax records.