2324 Dupont Ave N · Minneapolis, MN 55411

$325,000

4 bd · 1.0 ba · 2,405 sqft · SingleFamily public records · 1 Days on market

Built 1900 0.25 ac lot

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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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large and beautiful classic Minneapolis bungalow with charm galore! Natural woodwork, cove ceilings, updated main floor bath and spacious upper level. Huge lot with a mix of both mature trees and new plantings. Price includes a newly lined sewer and one year home warranty.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (in street); City sewer (in street); Natural gas; Electric service with circuit breakers
• Home design: Residential property; One and one-half stories; Main entry on main level
• Construction: Block foundation; Roof more than 8 years old; Foundation area approximately 1,232
• Exterior features: Stone and stucco exterior; Chain link fencing; Medium tree coverage on lot; Corner lot (69 x 157)

Interior

• Kitchen: Kitchen on main level (15 x 9.5)
• Bedrooms: 4 bedrooms (bedroom locations: Main, Upper, Main, Main; one bedroom noted as 'Bedroom 4' on Upper level)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main floor bedroom; Partially finished basement; Block foundation in basement
• Laundry & utility: Basement utility area (block foundation)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $44 ($528/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 $273k (15.9% below list).
• Recommended offer: $273k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Nellie Stone Johnson Elementary (math 2% / reading 17%, grade F, #829 of 857 statewide, top 98%, 201 students, 96% FRL); Franklin Middle (math 2% / reading 8%, grade F, #255 of 258 statewide, top 100%, 287 students, 89% FRL); Henry High (reading 70%, 858 students, 80% FRL) — zoned schools average 88% FRL vs 58% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 40% district-wide (-33 pts) — the specific schools serving this property underperform the Minneapolis Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.3%/yr); 133 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $2,734/mo this rent would consume 54% of the median local household income ($60k/yr) (locally 1826% 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 $2k of loan paydown is wiped out by about $10k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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.
• Current owner paid $185k; list at $325k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $273,413 (15.9% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-37,407
• Equity at exit: $48,459

10-year hold

• IRR: 3.5%
• Equity multiple: 1.30×
• Total profit: $26,957
• Equity at exit: $28,100

Cash invested: $91,000 (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 55411

• Home prices YoY: -8.7%
• Rents YoY: 7.3%
• Active inventory: 133
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,734 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$276 /mo · $3,314/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $44

Break-even live

Break-even rent $2,678

Max offer price $325,000

Occupancy floor 93%

Sensitivity live

Price	-10% $228	-5% $136	+0% $44	+5% $-48	+10% $-140
Rent	-10% $-172	-5% $-64	+0% $44	+5% $152	+10% $260
Rate	-1.0pp $208	-0.5pp $127	base $44	+0.5pp $-40	+1.0pp $-126

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 N 25th Ave Minneapolis, MN	5.0	2.0	2295	$2,695	$1.17	19d	1	0.14mi
2643 Lyndale Ave N Minneapolis, MN	4.0	2.0	2198	$750	$0.34	18d	1	0.29mi
2819 Girard Ave N Minneapolis, MN	5.0	2.0	1718	$2,300	$1.34	45d	1	0.44mi
1414 Golden Valley Rd Unit 2 Minneapolis, MN	5.0	2.0	2000	$2,595	$1.30	45d	1	0.48mi
2923 Girard Ave N Minneapolis, MN	5.0	2.0	1760	$2,795	$1.59	23d	1	0.50mi
3342 Fremont Ave N Unit 2 Minneapolis, MN	4.0	2.0	2000	$2,200	$1.10	26d	1	0.87mi
1428 Marshall St NE Minneapolis, MN	3.0	2.5	1800	$3,300	$1.83	1d	1	1.02mi
1625 Marshall St NE Minneapolis, MN	5.0	3.0	1900	$3,495	$1.84	23d	1	1.02mi
1239 Knox Ave N Minneapolis, MN	4.0	1.0	1944	$2,400	$1.23	5d	1	1.03mi
1504 Queen Ave N Minneapolis, MN	3.0	1.5	1746	$2,800	$1.60	0d	1	1.08mi
1504 Queen Ave N Minneapolis, MN	3.0	1.5	1746	$2,800	$1.60	3d	1	1.08mi
1705 2nd St NE Minneapolis, MN	4.0	3.0	1600	$2,795	$1.75	3d	1	1.28mi
207 24th Ave NE Minneapolis, MN	3.0	3.0	1575	$2,995	$1.90	45d	1	1.41mi

Listing history 7 events

1. 2026-04-29
   status Pending
2. 2026-04-29
   listed Contingent - Subject to Financing
3. 2026-04-29
   listed $325,000
4. 2020-09-22
   soldstatus $185,000
5. 2020-08-04
   soldstatus $185,000 Sold
6. 2020-06-24
   historical
7. 2020-06-24
   listed $175,000

ⓘ 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: $3,314 · $276/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$163/yr (+$14/mo · 4.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $32,810
• − Mortgage interest: −$18,205
• − Property taxes: −$3,314
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − Depreciation: −$9,455
• Taxable loss: −$5,039
• Est. tax savings @ 24.0%: +$1,209
• After-tax cash flow: $1,738/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): 27,741
• Household income: $60,225
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1826.0

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 0.68)
• Race & ethnicity: Black 49% White 23% Two or more races 11% Hispanic / Latino 11% Asian 9%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 1%
• Foreign-born: 19% · Canada, Guatemala
• Languages at home: 68% English-only · Other Asian/Pacific 8% Spanish 8%

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: ▼ -33.91%
• Current HPI: 356.6758
• Rent YoY: ▲ 7.35%
• 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

+85.7% since first listed

7 events — show timeline

• 2026-04-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-22 Sold (Public Records) $185,000 Public Records
• 2020-08-04 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-24 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $3,314 · +7.2% YoY. Source: county tax records.