2708 Xylon Ave N · New Hope, MN 55427

$574,900

28 bd · 16.0 ba · 3,300 sqft · MultiFamily · 142 Days on market

Built 1963 0.34 ac lot

---

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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.2/10.0
• Rent growth +4.4/5.0
• Livability +4.3/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Rarely available turn-key 4 plex features 3 - 2 bed units and 1 - 1 bed unit! Fully occupied and ready for its next owner. Featuring many updates throughout, this is the opportunity you've been waiting for to add to your portfolio!

Key facts

• 0.34 acre lot
• Built 1963
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive. Per door: $141/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $506k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.7% in New Hope — 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 86/100 on livability (#9 in MN, #345 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Robbinsdale Public School District (suburban): math 24% / reading 44% proficiency, ranked #250 of 301 in MN (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.4%/yr); 126 active listings in the ZIP; solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $5,867/mo this rent would consume 76% of the median local household income ($93k/yr) (locally 663% 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 $4k of loan paydown is wiped out by about $17k 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 + 7.4% rent growth), your $161k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($506k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y ago; this cycle's ask has dropped $50k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $266k; list at $575k implies a 117% gain — meaningful room to come down on a strong offer.

Recommended offer $505,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.02% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.4% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-30,072
• Equity at exit: $85,719

10-year hold

• IRR: 9.5%
• Equity multiple: 1.88×
• Total profit: $142,438
• Equity at exit: $49,707

Cash invested: $160,972 (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 55427

• Rents YoY: 7.4%
• Active inventory: 126
• Price-to-rent: 31.6×

Monthly cashflow live

• Estimated rent: $5,867 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$818 /mo · $9,819/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,232
• Net cashflow: $562

Break-even live

Break-even rent $5,155

Max offer price $574,900

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,554
1× unit	1	1	$1,312
Total (4 units)			$5,867

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: $143,725
• Closing costs: $17,247
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $574,900 Active 142 DOM
2. 2026-06-17
   days on market $574,900 Active 141 DOM
3. 2026-06-16
   days on market $574,900 Active 140 DOM
4. 2026-06-15
   days on market $574,900 Active 139 DOM
5. 2026-06-13
   days on market $574,900 Active 137 DOM
6. 2026-06-13
   days on market $574,900 Active 136 DOM
7. 2026-06-09
   days on market $574,900 Active 133 DOM
8. 2026-06-08
   days on market $574,900 Active 132 DOM
9. 2026-06-07
   days on market $574,900 Active 131 DOM
10. 2026-06-04
    days on market $574,900 Active 128 DOM
11. 2026-06-03
    days on market $574,900 Active 127 DOM
12. 2026-06-02
    days on market $574,900 Active 126 DOM
13. 2026-06-01
    days on market $574,900 Active 125 DOM
14. 2026-05-31
    days on market $574,900 Active 124 DOM
15. 2026-04-27
    price $574,900 232-char remark

    Show marketing remark (232 chars)

    Rarely available turn-key 4 plex features 3 - 2 bed units and 1 - 1 bed unit! Fully occupied and ready for its next owner. Featuring many updates throughout, this is the opportunity you've been waiting for to add to your portfolio!

16. 2026-03-09
    price $599,900 232-char remark

    Show marketing remark (232 chars)

    Rarely available turn-key 4 plex features 3 - 2 bed units and 1 - 1 bed unit! Fully occupied and ready for its next owner. Featuring many updates throughout, this is the opportunity you've been waiting for to add to your portfolio!

17. 2026-01-26
    listed $625,000 Active 232-char remark

    Show marketing remark (232 chars)

    Rarely available turn-key 4 plex features 3 - 2 bed units and 1 - 1 bed unit! Fully occupied and ready for its next owner. Featuring many updates throughout, this is the opportunity you've been waiting for to add to your portfolio!

18. 2015-05-18
    soldstatus $265,500 Sold 254-char remark

    Show marketing remark (254 chars)

    Rare 4-plex in great New Hope location. Low maintenance. 3-2 BR units 1-1BR unit. Common Laundry facilities. Lots of parking. On bus line. good access to schools, shopping and transportation. Excellent opportunity for rehab & upgrades. Don't miss it.

19. 2015-05-05
    historical 254-char remark

    Show marketing remark (254 chars)

    Rare 4-plex in great New Hope location. Low maintenance. 3-2 BR units 1-1BR unit. Common Laundry facilities. Lots of parking. On bus line. good access to schools, shopping and transportation. Excellent opportunity for rehab & upgrades. Don't miss it.

20. 2015-05-03
    historical
21. 2015-05-01
    listed $265,500 254-char remark

    Show marketing remark (254 chars)

    Rare 4-plex in great New Hope location. Low maintenance. 3-2 BR units 1-1BR unit. Common Laundry facilities. Lots of parking. On bus line. good access to schools, shopping and transportation. Excellent opportunity for rehab & upgrades. Don't miss it.

22. 2015-04-22
    historical Contingent - Other
23. 2015-04-17
    status Active
24. 2015-03-30
    status Pending
25. 2015-03-20
    historical Contingent - Other
26. 2015-03-13
    status Active
27. 2015-02-24
    status Pending
28. 2015-02-13
    historical Contingent - Other
29. 2015-02-04
    listed $265,500 Active
30. 2006-04-18
    historical
31. 2005-11-03
    listed $399,900
32. 2004-04-23
    soldstatus $385,000
33. 2004-03-30
    soldstatus $385,000
34. 2004-03-15
    historical
35. 2004-01-02
    listed $398,000
36. 2003-12-22
    historical
37. 2003-11-21
    listed $398,000
38. 1983-06-01
    soldstatus $134,500

ⓘ 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: $9,819 · $818/mo
• Projected year-2 tax: $9,819 · $818/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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,404
• − Mortgage interest: −$32,203
• − Property taxes: −$9,819
• − Insurance: −$2,874
• − Repairs & maintenance: −$5,632
• − Management: −$5,632
• − Depreciation: −$16,724
• Taxable loss: −$2,482
• Est. tax savings @ 24.0%: +$596
• After-tax cash flow: $7,343/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: Robbinsdale Public School District
• NCES district ID: 2731780
• Math proficiency: 24% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $60,234
• Composite: 30.42/100
• National rank: #6240
• State rank: #250 of 301 in MN

Livability — New Hope

• Score: 86/100
• State rank: #9
• US rank: #345

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Hope, MN
• County: Hennepin County · 1,150,272 people
• City population: 32,499
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 24,764
• Household income: $92,821
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 663.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 8% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Scottish 3% Romanian 3%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -267.55%
• Current HPI: 235.3888
• Rent YoY: ▲ 7.40%
• 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

+327.4% since first listed

24 events — show timeline

• 2026-04-27 Price Changed $574,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $599,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-26 Listed $625,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-18 Sold (MLS) $265,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-01 Listed $265,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-04 Listed $265,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-03 Listed $399,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-04-23 Sold (Public Records) $385,000 Public Records
• 2004-03-30 Sold (MLS) $385,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-03-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-01-02 Listed $398,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-12-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-21 Listed $398,000 NORTHSTARMLS as Distributed by MLS Grid
• 1983-06-01 Sold (Public Records) $134,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $9,819 · +9.8% YoY. Source: county tax records.