4980 Garland Ct N Unit G · Plymouth, MN 55446

$249,900

2 bd · 1.0 ba · 1,311 sqft · Condo public records · 34 Days on market

Built 2004 $191/sqft · 19% below area Est $308k · 19% under $345/mo HOA · 14% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +6.9/10.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-designed multi-level townhome in a desirable Plymouth location! Enter through the lower level with convenient access to the attached garage—perfect for everyday ease and Minnesota winters. Upstairs, the main level features an open-concept layout ideal for both daily living and entertaining. The kitchen flows seamlessly into the dining and living areas, highlighted by a cozy fireplace and abundant natural light. Step out onto the main-level balcony—perfect for morning coffee or relaxing evenings. A convenient half bath completes this level. The upper level offers a comfortable retreat with a spacious primary suite featuring a walk-in closet, along with a seco

Key facts

• Main-level balcony
• Attached garage
• Natural light

Tags

• MULTI-LEVEL TOWNHOME
• ATTACHED GARAGE
• OPEN-CONCEPT LAYOUT
• COZY FIREPLACE
• NATURAL LIGHT
• MAIN-LEVEL BALCONY

Property features AI

Finance

• HOA & community: Part of The Lodges at Timber Creek Crossing homeowners association; HOA fee $345 monthly covering lawn care and snow removal; Association reports no additional amenities

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Utilities: City water (connected); City sewer (connected); Electric and natural gas service
• Home design: Residential attached property; Two levels; Main living room 26 x 24 (main level); Mud room 19 x 11 (lower level)
• Construction: Foundation described as other; Foundation area 672
• Exterior features: Vinyl exterior; No fencing; No pool; Lot approximately 4.342 acres; Common lot dimensions

Interior

• Kitchen: Cooktop; Double oven; Range; Dishwasher; Refrigerator
• Bedrooms: Two bedrooms (one upper bedroom 15 x 14; second upper bedroom 11 x 10)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Living/dining room layout; Balcony; Deck; Humidifier; ENERGY STAR qualified appliances; Exhaust fan
• Laundry & utility: In-unit laundry (washer and dryer listed among appliances); Utility room 7 x 13; Electric water heater; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-41 ($-491/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (0.3% below list).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.1% in Plymouth — 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 85/100 on livability (#17 in MN, #517 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Wayzata Public School District (urban): math 75% / reading 78% proficiency, ranked #2 of 301 in MN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.7%/yr); 212 active listings in the ZIP; 2 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).
• This rent is only 18% of the median local income ($171k/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 $2k of loan paydown is wiped out by about $7k 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 34 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 17y 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 $154k; list at $250k implies a 62% gain — meaningful room to come down on a strong offer.

Recommended offer $242,403 (3.0% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.00% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 8.4

CMA / ARV

• ARV (median comp): $308,444
• List price: $249,900
• Delta: -18.98%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.7% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.41×
• Total profit: $-41,122
• Equity at exit: $37,261

10-year hold

• IRR: -6.6%
• Equity multiple: 0.56×
• Total profit: $-30,947
• Equity at exit: $21,607

Cash invested: $69,972 (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 55446

• Home prices YoY: -24.0%
• Rents YoY: 3.7%
• Active inventory: 212
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,493 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$251 /mo · $3,006/yr
• Insurance: −$104
• HOA: −$345
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $-41

Break-even live

Break-even rent $2,545

Max offer price $242,670

Occupancy floor 97%

Sensitivity live

Price	-10% $101	-5% $30	+0% $-41	+5% $-112	+10% $-182
Rent	-10% $-238	-5% $-139	+0% $-41	+5% $58	+10% $156
Rate	-1.0pp $85	-0.5pp $23	base $-41	+0.5pp $-106	+1.0pp $-172

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5305 Fountain Ln N Plymouth, MN	3.0–4.0	2.5–3.5	2237	$3,655	$1.63	0d	1	0.50mi
4205 Merrimac Ln N Plymouth, MN	2.0	1.5	1258	$2,100	$1.67	11d	1	0.92mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-18
   days on market $249,900 Active 34 DOM
2. 2026-06-17
   days on market $249,900 Active 33 DOM
3. 2026-06-16
   days on market $249,900 Active 32 DOM
4. 2026-06-15
   days on market $249,900 Active 31 DOM
5. 2026-06-13
   days on market $249,900 Active 29 DOM
6. 2026-06-09
   days on market $249,900 Active 25 DOM
7. 2026-06-08
   days on market $249,900 Active 24 DOM
8. 2026-06-07
   days on market $249,900 Active 23 DOM
9. 2026-06-04
   days on market $249,900 Active 20 DOM
10. 2026-06-03
    days on market $249,900 Active 19 DOM
11. 2026-06-02
    days on market $249,900 Active 18 DOM
12. 2026-06-01
    days on market $249,900 Active 17 DOM
13. 2026-05-31
    days on market $249,900 Active 16 DOM
14. 2026-05-15
    historical
15. 2026-05-14
    listed $249,900 Active 891-char remark
16. 2026-05-04
    price $255,000
17. 2026-04-20
    price $264,900
18. 2026-04-08
    listed $269,900 Active
19. 2026-04-07
    historical
20. 2026-03-31
    historical
21. 2026-03-03
    price $274,900
22. 2025-11-06
    price $279,900
23. 2025-10-07
    price $284,500
24. 2025-09-01
    listed $289,000 Active
25. 2025-09-01
    historical
26. 2025-08-31
    status Active
27. 2025-08-09
    status Active
28. 2025-07-25
    status Active
29. 2025-07-19
    status Active
30. 2025-07-12
    status Active
31. 2025-07-05
    listed $289,000 Active
32. 2022-07-03
    price $1,795
33. 2013-12-12
    soldstatus $154,000
34. 2013-12-06
    historical
35. 2013-12-06
    soldstatus $154,000 Sold
36. 2013-11-08
    status Pending
37. 2013-11-07
    historical Contingent - Inspection
38. 2013-10-17
    price $159,800
39. 2013-09-07
    listed $164,800 Active
40. 2011-07-25
    soldstatus $117,000
41. 2011-05-20
    historical
42. 2011-04-14
    listed $122,000
43. 2011-02-02
    historical
44. 2010-03-18
    listed $119,800
45. 2010-02-28
    historical
46. 2009-09-02
    listed $149,000

ⓘ 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: $3,006 · $251/mo
• Projected year-2 tax: $3,006 · $251/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $29,913
• − Mortgage interest: −$13,998
• − Property taxes: −$3,006
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,393
• − Management: −$2,393
• − HOA: −$4,140
• − Depreciation: −$7,270
• Taxable loss: −$4,538
• Est. tax savings @ 24.0%: +$1,089
• After-tax cash flow: $598/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: Wayzata Public School District
• NCES district ID: 2742160
• Math proficiency: 75% ▼ -4.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $91,783
• Composite: 68.75/100
• National rank: #336
• State rank: #2 of 301 in MN

Livability — Plymouth

• Score: 85/100
• State rank: #17
• US rank: #517

Category grades

Amenities F Commute A+ Cost of living F 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: Plymouth, MN
• County: Hennepin County · 1,150,272 people
• City population: 79,816
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 28,247
• Household income: $170,625
• Rent vs Own: 17.4% rent · 82.6% own
• Severe rent burden: 364.0

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 (65%)
• Race & ethnicity: White 65% Asian 20% Two or more races 7% Black 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 9% Romanian 4% Scottish 3%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 7% Other Indo-European 6% Spanish 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: ▼ -63.27%
• Current HPI: 200.5438
• Rent YoY: ▲ 3.70%
• 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

+67.7% since first listed

33 events — show timeline

• 2026-05-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $264,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $274,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $284,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-01 Listed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-31 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-25 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-05 Listed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-03 Price Changed $1,795 RENT.
• 2013-12-12 Sold (Public Records) $154,000 Public Records
• 2013-12-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-06 Sold (MLS) $154,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-17 Price Changed $159,800 NORTHSTARMLS as Distributed by MLS Grid
• 2013-09-07 Listed $164,800 NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-25 Sold (MLS) $117,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-14 Listed $122,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-18 Listed $119,800 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-02 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $3,006 · +9.1% YoY. Source: county tax records.