3555 Thomas Ave N · Minneapolis, MN 55412

$170,900

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 76 Days on market

Built 1921 5,227 sqft lot $168/sqft · 30% below area Est $240k · 29% under

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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).

• Cash flow +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1921

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $171k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• Recommended offer: $161k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising fast (+6.3%/yr); 169 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 6.3% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y ago; this cycle's ask has dropped $49k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,646 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.03% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (median comp): $239,500
• List price: $170,900
• Delta: -28.64%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3859 Penn Ave N	0.44mi	3/1.0	980 (-4%)	5mo	$239,500	$244	69
3020 Queen Ave N	0.60mi	2/1.0 (-1)	956 (-6%)	15mo	$150,000	$157	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,361
• Equity at exit: $25,482

10-year hold

• IRR: 10.1%
• Equity multiple: 1.90×
• Total profit: $43,128
• Equity at exit: $14,776

Cash invested: $47,852 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 169
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,759 high
• Mortgage (P&I): −$896
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $254

Break-even live

Break-even rent $1,436

Max offer price $170,900

Occupancy floor 81%

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: $42,725
• Closing costs: $5,127
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	18d	1	0.63mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	0.70mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	0.71mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	14d	1	0.77mi
3711 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0	675	$1,149	$1.70	24d	1	0.79mi
3419 Grimes Ave N Minneapolis, MN	3.0	1.5	1300	$2,050	$1.58	44d	1	0.81mi
3753 Girard Ave N Minneapolis, MN	1.0–2.0	1.0	687	$1,450	$2.11	18d	8	0.86mi
1315 N Dowling Ave Unit 308 Minneapolis, MN	2.0	1.0	800	$1,450	$1.81	22d	1	0.89mi
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	4d	1	0.89mi
3737 Hubbard Ave N Unit 3737-204 Robbinsdale, MN	2.0	1.0	1000	$1,299	$1.30	4d	1	0.93mi
3737 Hubbard Ave N Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	16d	1	0.93mi
4024 37th Ave N Unit 4024-204 Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	4d	1	0.95mi
4024 37th Ave N Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	4d	2	0.95mi
4028 37th Ave N Unit 4028-202 Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	16d	1	0.95mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	0.98mi
4036 37th Ave N Robbinsdale, MN	2.0	1.0	1000	$1,195	$1.20	44d	1	1.01mi
4032 37th Ave N Unit 4032-201 Robbinsdale, MN	2.0	1.0	1000	$1,299	$1.30	24d	1	1.01mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	15d	3	1.02mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	44d	1	1.10mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	22d	1	1.13mi
2600 France Ave N Unit 2600 Minneapolis, MN	2.0	1.5	1100	$1,599	$1.45	4d	1	1.18mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	44d	1	1.21mi
3848 Major Ave N Minneapolis, MN	2.0	1.0	770	$1,674	$2.17	24d	1	1.21mi
4001 N Bryant Ave Unit 1 Minneapolis, MN	2.0	1.0	850	$1,295	$1.52	44d	1	1.25mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	44d	1	1.25mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	18d	1	1.26mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	24d	1	1.31mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	8d	4	1.33mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	24d	1	1.40mi
414 N 33rd Ave Unit 2 Minneapolis, MN	2.0	1.0	1246	$1,600	$1.28	44d	1	1.42mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	1.43mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	22d	1	1.43mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	15d	1	1.45mi
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	15d	1	1.49mi
4200 45th Ave N Minneapolis, MN	1.0–2.0	1.0	925	$1,575	$1.70	2d	1	1.50mi
1816 Zephyr Pl Minneapolis, MN	3.0	1.0	1120	$2,050	$1.83	44d	1	1.50mi

Listing history 43 events

1. 2026-06-18
   days on market $170,900 Active 76 DOM
2. 2026-06-17
   pricedays on market $170,900 Active 75 DOM
3. 2026-06-16
   days on market $175,900 Active 74 DOM
4. 2026-06-15
   days on market $175,900 Active 73 DOM
5. 2026-06-13
   days on market $175,900 Active 71 DOM
6. 2026-06-09
   days on market $175,900 Active 67 DOM
7. 2026-06-08
   days on market $175,900 Active 66 DOM
8. 2026-06-07
   days on market $175,900 Active 65 DOM
9. 2026-06-04
   pricedays on market $175,900 Active 62 DOM
10. 2026-06-03
    days on market $179,900 Active 61 DOM
11. 2026-06-02
    days on market $179,900 Active 60 DOM
12. 2026-06-01
    days on market $179,900 Active 59 DOM
13. 2026-05-31
    days on market $179,900 Active 58 DOM
14. 2026-04-17
    price $209,900
15. 2026-04-03
    listed $219,900 Active
16. 2025-01-10
    soldstatus $158,495
17. 2023-08-16
    soldstatus $180,000
18. 2021-10-21
    historical
19. 2021-09-20
    status Active
20. 2021-08-28
    listed $185,900 Active
21. 2014-11-25
    soldstatus $53,971
22. 2014-11-18
    soldstatus $52,500 Sold
23. 2014-11-18
    soldstatus $52,500
24. 2014-11-18
    soldstatus $52,500
25. 2014-11-08
    historical
26. 2014-10-31
    status Active
27. 2014-10-31
    price $50,000
28. 2014-10-03
    status Pending
29. 2014-09-24
    listed $64,900 Active
30. 2014-09-23
    listed $50,000
31. 2014-09-23
    listed $50,000
32. 2012-08-27
    soldstatus $89,900
33. 2012-03-02
    soldstatus $89,900
34. 2012-02-23
    historical
35. 2012-01-06
    listed $84,900
36. 2009-04-23
    soldstatus $70,000
37. 2009-01-23
    soldstatus $20,000
38. 2009-01-12
    historical
39. 2008-07-31
    listed $16,900
40. 2007-05-06
    historical
41. 2006-12-06
    listed $145,000
42. 2006-12-01
    historical
43. 2006-07-26
    listed $150,000

ⓘ 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: $2,008 · $167/mo
• Projected year-2 tax: $2,008 · $167/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 · 13 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: $21,102
• − Mortgage interest: −$9,573
• − Property taxes: −$2,008
• − Insurance: −$854
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$4,972
• Taxable income: $319
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $2,977/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+39.9% since first listed

30 events — show timeline

• 2026-04-17 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-10 Sold (Public Records) $158,495 Public Records
• 2023-08-16 Sold (Public Records) $180,000 Public Records
• 2021-10-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-20 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-28 Listed $185,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-25 Sold (Public Records) $53,971 Public Records
• 2014-11-18 Sold (MLS) $52,500 LSAR
• 2014-11-18 Sold (MLS) $52,500 RASM
• 2014-11-18 Sold (MLS) $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-31 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-31 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-24 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-23 Listed $50,000 LSAR
• 2014-09-23 Listed $50,000 RASM
• 2012-08-27 Sold (Public Records) $89,900 Public Records
• 2012-03-02 Sold (MLS) $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-01-06 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-23 Sold (Public Records) $70,000 Public Records
• 2009-01-23 Sold (MLS) $20,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-31 Listed $16,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-06 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-26 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2025): $2,008 · +8.4% YoY. Source: county tax records.