900 16th Ave N · Minneapolis, MN 55411

$425,000

8 bd · 4.0 ba · 5,153 sqft · MultiFamily public records · 22 Days on market

Built 1900 0.39 ac lot ↓ 1% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional investment opportunity in Minneapolis! This large four-plex offers the perfect blend of classic charm, strong rental potential, and long-term upside. Each of the four units features 2 bedrooms and 1 bathroom, with spacious layouts that include tall ceilings, generously sized rooms, and large closets—making them highly desirable for tenants. Throughout the property, you’ll find beautiful original woodwork, including hardwood floors, detailed trim, and built-ins that add timeless character and appeal. Large windows in every unit bring in abundant natural light, creating bright and inviting living spaces. The property also includes coin-operated laundry in the basement

Key facts

• Large windows
• Four plex
• Original woodwork

Tags

• INVESTMENT OPPORTUNITY
• FOUR PLEX
• STRONG RENTAL POTENTIAL
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• LARGE WINDOWS

Property features AI

Finance

• Other: Four total residential units (two units of one type and two of another); Unit layouts: two units with 7 rooms (~1,648 area) and two units with 8 rooms (~1,648 area); Total of 4 units in the building
• Financial info: Owner pays grounds care, repairs, snow removal, taxes, and trash collection; Tenants pay cable TV, electricity and fuel
• HOA & community: No association amenities

Exterior

• Parking: Asphalt and concrete surfaces; Garage door opener; Detached/attached garage space providing 2 garage parking spots; Each unit assigned 1 parking space
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Residential income property; Two levels (two-story building); Above-grade finished area totaling 6,592 square feet; Owner-occupied
• Construction: Flat rubber roof (over 8 years old); Foundation area approximately 3,296 (foundation footprint); Building total area approximately 6,592
• Exterior features: Chain link fencing; Corner lot with medium tree coverage; City street frontage with curbs, paved streets and sidewalks; Public transit within six blocks; Porches and balconies on some units

Interior

• Kitchen: Ranges and refrigerators included in some units; Kitchen windows in several units; Natural woodwork in kitchens
• Bedrooms: Total of 8 bedrooms (across units); Each unit includes 2 bedrooms
• Flooring: Hardwood floors in multiple units
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Hot water heating; No central cooling in units
• Interior features: Daylight/lookout windows in the basement; Full basement; Shared common rooms
• Laundry & utility: Washer/dryer hookups in units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $939/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $425k).
• Recommended offer: $419k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.9% 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 (+7.3%/yr); 132 active listings in the ZIP; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $7,969/mo this rent would consume 159% 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 $3k of loan paydown is wiped out by about $13k 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 $119k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $340k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $418,625 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.88% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.90%
• DSCR: 2.69
• GRM: 4.4

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: 38.5%
• Equity multiple: 2.74×
• Total profit: $206,757
• Equity at exit: $63,369

10-year hold

• IRR: 47.0%
• Equity multiple: 6.47×
• Total profit: $651,169
• Equity at exit: $36,746

Cash invested: $119,000 (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: 132
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $7,969 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,673
• Net cashflow: $3,758

Break-even live

Break-even rent $3,212

Max offer price $425,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,968
Total (4 units)			$7,969

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-04-09
   historical Contingent - Inspection
3. 2026-03-31
   listed $425,000 Active
4. 2017-08-04
   soldstatus $340,000
5. 2007-06-12
   soldstatus $396,000
6. 2007-03-15
   historical
7. 2006-09-22
   listed $429,900

ⓘ 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: $1,581 · $132/mo
• Projected year-2 tax: $3,170 · $264/mo
• Expected delta: +$1,590/yr (+$132/mo · 100.5%)

ⓘ 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: $95,628
• − Mortgage interest: −$23,807
• − Property taxes: −$1,581
• − Insurance: −$2,125
• − Repairs & maintenance: −$7,650
• − Management: −$7,650
• − Depreciation: −$12,364
• Taxable income: $40,451
• Est. tax owed @ 24.0%: −$9,708
• After-tax cash flow: $35,387/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

-1.1% since first listed

7 events — show timeline

• 2026-04-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listed $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-04 Sold (Public Records) $340,000 Public Records
• 2007-06-12 Sold (Public Records) $396,000 Public Records
• 2007-03-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-22 Listed $429,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-6.9%/yr

Latest (2025): $1,581 · -62.0% YoY. Source: county tax records.