11173 Edgewood Cir N · Champlin, MN 55316

$189,900

2 bd · 1.0 ba · 936 sqft · Condo public records · 4 Days on market

Built 1988 $248/mo HOA · 14% of rent

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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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.7/10.0
• Livability +4.5/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy one level living on upper level, open floor plan, with vaulted ceilings, deck off living room, eating area off kitchen, large walk-in close, laundry in bath, new furnace, no maintenance exterior, neutral décor, quick possession possible!

Key facts

• Granite countertops
• Parks
• Top-rated schools

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TOP-RATED SCHOOLS
• PARKS
• SHOPPING AND DINING OPTIONS

Property features AI

Finance

• Other: Lot size about 0.298 acres
• HOA & community: HOA managed by Genesis Property Management LLC; Monthly HOA fee of $248; HOA covers lawn care, grounds maintenance, parking, professional management, snow removal, and water

Exterior

• Parking: Attached garage (1 car); Tuck-under garage; Onsite guest parking; Parking lot; Additional onsite parking available for a fee
• Utilities: City water (connected); City sewer (connected); Electric fuel
• Home design: Attached residential property; One level
• Construction: Poured concrete foundation
• Exterior features: Stone exterior; Balcony

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Skylight; Walk-in closet; Informal dining area; Disposal; Stainless steel appliances
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-41 ($-489/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (3.3% below list).
• Recommended offer: $183k (3.8% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.2% in Champlin — 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 90/100 on livability (#4 in MN, #106 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• 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.
• Zoned schools: Oxbow Creek Elementary (math 71% / reading 65%, grade B+, #96 of 857 statewide, top 11%, 1,028 students, 31% FRL); Jackson Middle (math 39% / reading 51%, grade D, #113 of 258 statewide, top 45%, 1,981 students, 43% FRL); Champlin Park High School (math 48% / reading 63%, grade C, #80 of 471 statewide, top 17%, 2,983 students, 41% FRL).
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 34y ago; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $182,705 (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. 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 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: 0.97% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 8.6

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-33,228
• Equity at exit: $28,315

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-31,714
• Equity at exit: $16,419

Cash invested: $53,172 (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 55316

• Active inventory: 105
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,837 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$169 /mo · $2,024/yr
• Insurance: −$79
• HOA: −$248
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-41

Break-even live

Break-even rent $1,888

Max offer price $182,705

Occupancy floor 97%

Sensitivity live

Price	-10% $67	-5% $13	+0% $-41	+5% $-94	+10% $-148
Rent	-10% $-186	-5% $-113	+0% $-41	+5% $32	+10% $104
Rate	-1.0pp $55	-0.5pp $8	base $-41	+0.5pp $-90	+1.0pp $-140

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3133 109th Ln NW Minneapolis, MN	2.0	1.0–2.0	747	$1,675	$2.24	0d	8	1.18mi

HOA detail condo

• Monthly dues: $248 · $2,976/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $189,900 Coming Soon 4 DOM
2. 2026-06-18
   remarks 512-char remark
3. 2026-06-18
   listed $189,900 Coming Soon 1 DOM

ⓘ 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: $2,024 · $169/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$51/yr (+$4/mo · 2.5%)

ⓘ 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: $22,040
• − Mortgage interest: −$10,637
• − Property taxes: −$2,024
• − Insurance: −$950
• − Repairs & maintenance: −$1,763
• − Management: −$1,763
• − HOA: −$2,976
• − Depreciation: −$5,524
• Taxable loss: −$3,598
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $375/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 — Champlin

• Score: 90/100
• State rank: #4
• US rank: #106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Champlin, MN
• County: Hennepin County · 1,150,272 people
• City population: 23,294
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 23,294
• Household income: $116,102
• Rent vs Own: 11.9% rent · 88.1% own
• Severe rent burden: 270.0

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 (78%)
• Race & ethnicity: White 78% Black 11% Asian 4% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 3%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 88% English-only · Russian/Polish/Slavic 2% Other Asian/Pacific 2% Spanish 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: ▼ -311.30%
• Current HPI: 229.5956
• 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

+248.4% since first listed

37 events — show timeline

• 2026-06-17 Coming Soon $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-05 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-25 Price Changed $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-19 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-11 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-07 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-14 Sold (MLS) $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-12 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-14 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-07 Listed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-17 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-11-15 Listed $148,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-13 Sold (Public Records) $140,500 Public Records
• 2005-08-05 Sold (MLS) $140,500 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-20 Listed $138,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-01 Listed $135,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-12-31 Sold (Public Records) $115,000 Public Records
• 2001-10-30 Sold (MLS) $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-10-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-13 Listed $115,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-09-18 Sold (Public Records) $74,050 Public Records
• 1995-03-31 Sold (MLS) $51,850 NORTHSTARMLS as Distributed by MLS Grid
• 1995-01-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-09-29 Listed $52,850 NORTHSTARMLS as Distributed by MLS Grid
• 1993-09-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-03-02 Listed $52,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-06-29 Listed $54,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $2,024 · +0.5% YoY. Source: county tax records.