8983 Sawgrass Gln N · Maple Grove, MN 55311

$215,000

2 bd · 1.5 ba · 1,267 sqft · Condo public records · 22 Days on market

Built 1999 $170/sqft · 35% below area Est $330k · 35% under $365/mo HOA · 16% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• 1% rule +5.4/10.0
• Schools +4.2/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this bright and inviting 2-bedroom, 2-bath townhome located in a quiet and well-kept MapleGrove neighborhood. Offering 1,267 sq. ft. of comfortable living space, this home features an open-concept main level and large windows that fill the space with warm, natural light. The kitchen provides plenty of counter and cabinet space, along with a breakfast bar that flows seamlessly into the dining and living areas perfect for everyday living or hosting friends and family. Both bedrooms are spacious with ample closet storage, and the bathrooms are well-maintained and functional. Enjoy the convenience of in-unit laundry and an attached 1-car garage. Relax outdoors on your private patio,

Key facts

• Large windows
• In-unit laundry
• Private patio

Tags

• OPEN-CONCEPT MAIN LEVEL
• LARGE WINDOWS
• BREAKFAST BAR
• IN-UNIT LAUNDRY
• PRIVATE PATIO
• WELL-KEPT NEIGHBORHOOD

Property features AI

Finance

• Other: Above-grade finished area approximately 1,267; Main level finished area approximately 780; Living area listed as 1,267 square feet
• HOA & community: HOA: Cities Management; Monthly association fee of $365; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, sewer, snow removal, and water; No association amenities listed

Exterior

• Parking: Attached garage with garage door opener; Asphalt driveway; 1-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Attached residential property; Two levels
• Construction: Block foundation; Foundation area approximately 780
• Exterior features: Vinyl exterior; No pool; No fencing; Irregular lot with light tree coverage; Association-maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on the upper level)
• Bathrooms: One full bathroom (upper level); Half bathroom on the main floor; Primary features a walk-through layout
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living/dining room; Gas fireplace in living room; Walk-in closet
• Laundry & utility: Washer and dryer included; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-47 ($-560/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (3.8% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $207k (3.8% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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.
• Market conditions: Rents rising fast (+5.9%/yr); 300 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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

• It's been on market 22 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $206,756 (3.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 8.0

CMA / ARV

• ARV (median comp): $329,610
• List price: $215,000
• Delta: -30.52%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-30,964
• Equity at exit: $32,057

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-1,059
• Equity at exit: $18,589

Cash invested: $60,200 (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: 300
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,234 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$230 /mo · $2,758/yr
• Insurance: −$90
• HOA: −$365
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-47

Break-even live

Break-even rent $2,293

Max offer price $206,756

Occupancy floor 97%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18037 96th Ave N Maple Grove, MN	2.0	2.0	1597	$2,150	$1.35	17d	1	0.95mi
9585 Queensland Ln N Maple Grove, MN	2.0	2.0	1489	$2,195	$1.47	14d	1	0.96mi
9325 Garland Ave Maple Grove, MN	1.0–3.0	1.0–2.0	1059	$2,168	$2.05	1d	20	1.28mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-18
   days on market $215,000 Active 22 DOM
2. 2026-06-17
   days on market $215,000 Active 21 DOM
3. 2026-06-16
   days on market $215,000 Active 20 DOM
4. 2026-06-15
   days on market $215,000 Active 19 DOM
5. 2026-06-13
   pricedays on market $215,000 Active 17 DOM
6. 2026-06-09
   days on market $228,000 Active 13 DOM
7. 2026-06-08
   days on market $228,000 Active 12 DOM
8. 2026-06-07
   days on market $228,000 Active 11 DOM
9. 2026-06-04
   days on market $228,000 Active 8 DOM
10. 2026-06-03
    days on market $228,000 Active 7 DOM
11. 2026-06-02
    days on market $228,000 Active 6 DOM
12. 2026-06-01
    days on market $228,000 Active 5 DOM
13. 2026-05-31
    days on market $228,000 Active 4 DOM
14. 2026-04-29
    price $229,000 940-char remark
15. 2026-04-09
    historical
16. 2026-04-08
    listed $234,000 Active 940-char remark
17. 2026-02-25
    price $240,000
18. 2026-02-17
    listed $249,000 Active
19. 2023-04-18
    soldstatus $231,000
20. 2023-04-17
    soldstatus $238,000 Sold
21. 2023-03-18
    status Pending
22. 2023-03-16
    status Active
23. 2023-03-13
    status Pending
24. 2023-03-03
    price $235,000
25. 2023-02-25
    price $237,500
26. 2023-02-19
    price $239,900
27. 2023-02-07
    price $242,000
28. 2023-01-15
    price $244,900
29. 2022-12-31
    price $252,000
30. 2022-12-07
    listed $259,000 Active
31. 2022-12-04
    historical $259,000
32. 2020-01-28
    soldstatus $184,000
33. 2019-03-29
    soldstatus $184,000 Sold
34. 2019-03-05
    status Pending
35. 2019-02-28
    price $187,000
36. 2019-02-05
    listed $189,000 Active
37. 2018-11-21
    soldstatus $170,500
38. 2006-02-02
    soldstatus $170,000
39. 2003-12-17
    soldstatus $155,500
40. 2003-11-14
    soldstatus $155,500
41. 2003-09-22
    historical
42. 2003-09-04
    listed $157,500
43. 2003-09-03
    historical
44. 2003-08-07
    listed $159,900
45. 2003-08-01
    historical
46. 2003-06-06
    listed $159,999

ⓘ 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: $2,758 · $230/mo
• Projected year-2 tax: $2,758 · $230/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 ≥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: $26,813
• − Mortgage interest: −$12,043
• − Property taxes: −$2,758
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,145
• − Management: −$2,145
• − HOA: −$4,380
• − Depreciation: −$6,255
• Taxable loss: −$3,987
• Est. tax savings @ 24.0%: +$957
• After-tax cash flow: $397/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

+34.4% since first listed

36 events — show timeline

• 2026-06-10 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-27 Listed $228,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $234,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-17 Listed $249,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-18 Sold (Public Records) $231,000 Public Records
• 2023-04-17 Sold (MLS) $238,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-16 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-03 Price Changed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-25 Price Changed $237,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-19 Price Changed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-07 Price Changed $242,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-15 Price Changed $244,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-31 Price Changed $252,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-07 Listed $259,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-04 Coming Soon $259,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-28 Sold (Public Records) $184,000 Public Records
• 2019-03-29 Sold (MLS) $184,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-28 Price Changed $187,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-05 Listed $189,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-11-21 Sold (Public Records) $170,500 Public Records
• 2006-02-02 Sold (Public Records) $170,000 Public Records
• 2003-12-17 Sold (Public Records) $155,500 Public Records
• 2003-11-14 Sold (MLS) $155,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-04 Listed $157,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-08-07 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-08-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-06-06 Listed $159,999 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $2,758 · -10.9% YoY. Source: county tax records.