2050 W Broadway Ave · Minneapolis, MN 55411

$489,900

4 bd · 2.0 ba · 2,838 sqft · MultiFamily public records · 38 Days on market

Built 1904 5,662 sqft lot $173/sqft · 41% above area Est $398k · 23% over

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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 +18.7/30.0
• 1% rule +5.9/10.0
• DSCR +5.9/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

Key facts

• Fully renovated
• Separate utilities
• 5,662 sq ft lot

Tags

• FULLY RENOVATED
• TURNKEY INVESTMENT PROPERTY
• SEPARATE UTILITIES
• INDIVIDUAL HVAC SYSTEMS
• DEDICATED STORAGE SPACE

Property features AI

Finance

• Other: Property is not owner-occupied; Triplex with a total of 3 units
• Financial info: Gross income reported: $62,868; Net operating income reported: $62,868; Rental license: Standard; rental license on file; Tenants pay all utilities; Mortgage type noted as FHA
• HOA & community: Association amenities include laundry and porch

Exterior

• Parking: Each unit appears to have 1 parking space
• Utilities: City water connected; City sewer connected; Natural gas service; Electric with circuit breakers
• Home design: Residential income property (Triplex); More than 2 stories
• Construction: Block foundation; Roof is over 8 years old
• Exterior features: Front porch; Light tree coverage on lot; City street frontage

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Gas water heater
• Bedrooms: Total of 8 bedrooms; Individual units include three 3-bedroom units and one 2-bedroom unit
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning in each unit
• Interior features: Unfinished basement; Cable available; Front porch; Porch listed as an amenity
• Laundry & utility: Laundry located in the basement; Laundry listed as an association amenity

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive. Per door: $161/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $490k).
• Recommended offer: $475k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $3k of loan paydown is wiped out by about $15k 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 + 7.3% rent growth), your $137k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y 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 $425k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $475,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 7.6

CMA / ARV

• ARV (median comp): $398,471
• List price: $489,900
• Delta: 22.94%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-23,906
• Equity at exit: $73,046

10-year hold

• IRR: 10.0%
• Equity multiple: 1.95×
• Total profit: $129,872
• Equity at exit: $42,358

Cash invested: $137,172 (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: 22.9×

Monthly cashflow live

• Estimated rent: $5,360 high
• Mortgage (P&I): −$2,569
• Tax from tax record: −$979 /mo · $11,753/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,126
• Net cashflow: $482

Break-even live

Break-even rent $4,750

Max offer price $489,900

Occupancy floor 86%

Sensitivity live

Price	-10% $759	-5% $620	+0% $482	+5% $343	+10% $204
Rent	-10% $58	-5% $270	+0% $482	+5% $694	+10% $905
Rate	-1.0pp $729	-0.5pp $606	base $482	+0.5pp $355	+1.0pp $226

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,361
Total (3 units)			$5,360

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Golden Valley Rd Unit 2 Minneapolis, MN	5.0	2.0	2000	$2,595	$1.30	45d	1	0.45mi
1113 N 25th Ave Minneapolis, MN	5.0	2.0	2295	$2,695	$1.17	19d	1	0.56mi
1239 Knox Ave N Minneapolis, MN	4.0	1.0	1944	$2,400	$1.23	6d	1	0.85mi
2643 Lyndale Ave N Minneapolis, MN	4.0	2.0	2198	$750	$0.34	18d	1	0.92mi
3342 Fremont Ave N Unit 2 Minneapolis, MN	4.0	2.0	2000	$2,200	$1.10	26d	1	1.06mi
522 N Newton Ave Unit 1 Minneapolis, MN	4.0	2.0	2000	$2,100	$1.05	45d	1	1.36mi

Listing history 48 events

1. 2026-06-21
   days on market $489,900 Active 38 DOM
2. 2026-06-18
   days on market $489,900 Active 35 DOM
3. 2026-06-17
   days on market $489,900 Active 34 DOM
4. 2026-06-16
   days on market $489,900 Active 33 DOM
5. 2026-06-15
   days on market $489,900 Active 32 DOM
6. 2026-06-13
   pricedays on market $489,900 Active 30 DOM
7. 2026-06-09
   days on market $499,900 Active 26 DOM
8. 2026-06-08
   days on market $499,900 Active 25 DOM
9. 2026-06-07
   days on market $499,900 Active 24 DOM
10. 2026-06-04
    days on market $499,900 Active 21 DOM
11. 2026-06-03
    days on market $499,900 Active 20 DOM
12. 2026-06-02
    days on market $499,900 Active 19 DOM
13. 2026-06-01
    days on market $499,900 Active 18 DOM
14. 2026-05-31
    days on market $499,900 Active 17 DOM
15. 2026-05-13
    listed $509,900 Active 1321-char remark
16. 2021-05-04
    soldstatus $425,000
17. 2021-02-01
    historical 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

18. 2021-02-01
    soldstatus $425,000 Sold 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

19. 2021-01-31
    status Pending 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

20. 2021-01-27
    status Pending 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

21. 2021-01-26
    status Pending 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

22. 2020-10-27
    status Pending 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

23. 2020-10-09
    historical Contingent - Inspection 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

24. 2020-09-24
    price $424,900 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

25. 2020-09-14
    price $449,900 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

26. 2020-09-09
    status Active 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

27. 2020-09-09
    historical Contingent - Inspection 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

28. 2020-09-05
    status Active 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

29. 2020-09-01
    historical Contingent - Inspection 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

30. 2020-07-28
    price $459,900 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

31. 2020-07-13
    listed $474,900 Active 907-char remark

    Show marketing remark (907 chars)

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

32. 2018-07-30
    historical
33. 2018-06-10
    listed $290,000 Active
34. 2017-06-14
    soldstatus $75,000 Sold
35. 2017-05-23
    status Pending
36. 2017-05-12
    price $79,900
37. 2017-05-04
    status Active
38. 2017-03-31
    status Pending
39. 2017-03-25
    listed $89,900 Active
40. 2016-10-25
    soldstatus $75,000
41. 2016-10-06
    soldstatus $75,000 Sold
42. 2016-09-14
    soldstatus $51,409
43. 2016-09-08
    status Pending
44. 2016-08-30
    historical Contingent - Inspection
45. 2016-08-25
    price $75,000
46. 2016-08-19
    status Active
47. 2016-08-19
    historical
48. 2016-08-17
    listed $84,900 Active

ⓘ 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: $11,753 · $979/mo
• Projected year-2 tax: $11,753 · $979/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 · 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: $64,320
• − Mortgage interest: −$27,442
• − Property taxes: −$11,753
• − Insurance: −$2,450
• − Repairs & maintenance: −$5,146
• − Management: −$5,146
• − Depreciation: −$14,252
• Taxable loss: −$1,867
• Est. tax savings @ 24.0%: +$448
• After-tax cash flow: $6,230/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

+477.0% since first listed

36 events — show timeline

• 2026-06-13 Price Changed $489,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $499,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $509,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-04 Sold (Public Records) $425,000 Public Records
• 2021-02-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-01 Sold (MLS) $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-24 Price Changed $424,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-14 Price Changed $449,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-28 Price Changed $459,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-13 Listed $474,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-10 Listed $290,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-14 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-12 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-04 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-25 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-25 Sold (Public Records) $75,000 Public Records
• 2016-10-06 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-14 Sold (Public Records) $51,409 Public Records
• 2016-09-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-25 Price Changed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-17 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2025): $11,753 · +42.5% YoY. Source: county tax records.