4936 Poppy Ln · Edina, MN 55435

$450,000

3 bd · 3.0 ba · 2,102 sqft · SingleFamily public records · 50 Days on market

Built 1985 0.38 ac lot $214/sqft · 16% below area Est $640k · 30% 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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +6.6/10.0
• DSCR +4.6/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

Key facts

• Solid foundation
• Prime edina location
• 0.38 acre lot

Tags

• PRIME EDINA LOCATION
• EASY ACCESS TO HIGHWAYS
• NEARBY SHOPPING DINING PARKS
• SOLID FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/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 $407k (9.5% below list).
• Recommended offer: $407k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 1.8% in Edina — 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 80/100 on livability (#82 in MN, #1,926 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Edina Public School District (suburban): math 69% / reading 75% proficiency, ranked #5 of 301 in MN (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 67 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $4,071/mo this rent would consume 61% of the median local household income ($80k/yr) (locally 976% 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 $3k of loan paydown is wiped out by about $14k 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 50 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 34y ago; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $407,141 (9.5% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.2

CMA / ARV

• ARV (median comp): $640,173
• List price: $450,000
• Delta: -29.71%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.42% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.41×
• Total profit: $-74,280
• Equity at exit: $67,096

10-year hold

• IRR: -14.6%
• Equity multiple: 0.26×
• Total profit: $-93,204
• Equity at exit: $38,908

Cash invested: $126,000 (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 55435

• Rents YoY: 0.4%
• Active inventory: 67
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $4,071 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$529 /mo · $6,352/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$855
• Net cashflow: $140

Break-even live

Break-even rent $3,894

Max offer price $450,000

Occupancy floor 92%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7400 Coventry Way Minneapolis, MN	4.0	3.0	3000	$3,995	$1.33	2d	1	1.03mi
3650 Hazelton Rd Minneapolis, MN	2.0	1.0–2.5	1194	$7,438	$6.23	2d	16	1.25mi
7201 York Ave S Minneapolis, MN	1.0–3.0	1.0–3.0	1135	$2,825	$2.49	2d	16	1.48mi

Listing history 30 events

1. 2026-06-17
   status $450,000 Pending 50 DOM
2. 2026-06-16
   days on market $450,000 Active 50 DOM
3. 2026-06-15
   days on market $450,000 Active 49 DOM
4. 2026-06-13
   days on market $450,000 Active 47 DOM
5. 2026-06-09
   days on market $450,000 Active 46 DOM
6. 2026-06-08
   days on market $450,000 Active 45 DOM
7. 2026-06-07
   days on market $450,000 Active 44 DOM
8. 2026-06-04
   days on market $450,000 Active 41 DOM
9. 2026-06-03
   days on market $450,000 Active 40 DOM
10. 2026-06-02
    days on market $450,000 Active 39 DOM
11. 2026-06-01
    days on market $450,000 Active 38 DOM
12. 2026-05-31
    days on market $450,000 Active 37 DOM
13. 2026-05-17
    historical Contingent - Inspection 616-char remark

    Show marketing remark (616 chars)

    Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

14. 2026-05-17
    status Pending 616-char remark

    Show marketing remark (616 chars)

    Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

15. 2026-04-21
    listed $475,000 Active 616-char remark

    Show marketing remark (616 chars)

    Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

16. 2026-04-21
    historical

    Show marketing remark (616 chars)

    Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

17. 2026-04-21
    listed $475,000 Active

    Show marketing remark (616 chars)

    Fantastic opportunity in a prime and convenient Edina location. This home provides easy access to major highways, making trips to nearby shopping, dining, parks, and daily essentials simple and efficient. Being sold as-is, the property offers an excellent chance for the next owner to update, personalize, and build equity. Whether you’re planning cosmetic updates or more extensive improvements, the layout and location provide a solid foundation for your vision. If you’re seeking value, potential, and accessibility in Edina, this property is a rare find. Bring your ideas and make this home your own!

18. 2026-04-20
    price $475,000
19. 2026-04-17
    historical
20. 2026-01-27
    status Pending
21. 2026-01-22
    soldstatus $525,000
22. 2026-01-21
    soldstatus $525,000 Sold
23. 2026-01-06
    historical Contingent - Other
24. 2025-12-01
    listed $525,000 Active
25. 2016-05-30
    historical
26. 2016-03-18
    listed $514,900 Active
27. 1993-03-31
    soldstatus $137,000
28. 1992-10-14
    soldstatus $137,000
29. 1992-10-02
    listed $141,900
30. 1990-07-20
    soldstatus $121,000

ⓘ 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: $6,352 · $529/mo
• Projected year-2 tax: $6,352 · $529/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 ≥98°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: $48,857
• − Mortgage interest: −$25,207
• − Property taxes: −$6,352
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,909
• − Management: −$3,909
• − Depreciation: −$13,091
• Taxable loss: −$5,860
• Est. tax savings @ 24.0%: +$1,406
• After-tax cash flow: $3,084/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: Edina Public School District
• NCES district ID: 2711250
• Math proficiency: 69% ▼ -8.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $100,093
• Composite: 65.8/100
• National rank: #456
• State rank: #5 of 301 in MN

Livability — Edina

• Score: 80/100
• State rank: #82
• US rank: #1926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edina, MN
• County: Hennepin County · 1,150,272 people
• City population: 38,943
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 14,192
• Household income: $79,884
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 976.0

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 (75%)
• Race & ethnicity: White 75% Asian 9% Black 6% Hispanic / Latino 6% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Lithuanian 4% Romanian 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 5% Other Asian/Pacific 4% Chinese 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: ▼ -158.19%
• Current HPI: 178.3042
• Rent YoY: ▲ 0.42%
• 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

+292.6% since first listed

18 events — show timeline

• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Listed $475,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Listed $475,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $475,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-22 Sold (Public Records) $525,000 Public Records
• 2026-01-21 Sold (MLS) $525,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-01 Listed $525,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-18 Listed $514,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-03-31 Sold (Public Records) $137,000 Public Records
• 1992-10-14 Sold (MLS) $137,000 NORTHSTARMLS as Distributed by MLS Grid
• 1992-10-02 Listed $141,900 NORTHSTARMLS as Distributed by MLS Grid
• 1990-07-20 Sold (Public Records) $121,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $6,352 · +9.0% YoY. Source: county tax records.