3328 5th Ave S · Minneapolis, MN 55408

$275,000

6 bd · 2.0 ba · 1,988 sqft · Other public records · 88 Days on market

Built 1906 5,662 sqft lot

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

Key facts

• Beautifully updated
• Up/down duplex
• 5,662 sq ft lot

Tags

• UP/DOWN DUPLEX
• SPACIOUS MAIN-LEVEL UNIT
• ABUNDANT NATURAL LIGHT
• UNIQUE 2-LEVEL UPPER UNIT
• BEAUTIFULLY UPDATED

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $275k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+4.8%/yr); 175 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $3,194/mo this rent would consume 54% of the median local household income ($70k/yr) (locally 2619% 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 $2k of loan paydown is wiped out by about $8k 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 + 4.8% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $50k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $275k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $258,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1906 — 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: 1.16% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.49%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $57
• Equity at exit: $41,003

10-year hold

• IRR: 11.4%
• Equity multiple: 1.97×
• Total profit: $74,832
• Equity at exit: $23,777

Cash invested: $77,000 (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 55408

• Rents YoY: 4.8%
• Active inventory: 175
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,194 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$357 /mo · $4,290/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $609

Break-even live

Break-even rent $2,423

Max offer price $275,000

Occupancy floor 76%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3729 2nd Ave S Minneapolis, MN	5.0	2.0	1700	$2,100	$1.24	14d	1	0.53mi
2540 12th Ave S Apt 2 Minneapolis, MN	5.0	2.0	1700	$2,450	$1.44	43d	1	1.11mi
911 W 31st St Minneapolis, MN	6.0	3.0	2200	$3,850	$1.75	43d	1	1.13mi
911 W 31st St Unit 1 Minneapolis, MN	6.0	3.0	2200	$3,895	$1.77	43d	1	1.13mi
2808 Colfax Ave S Unit 1250755P Minneapolis, MN	5.0	3.5	2088	$6,923	$3.32	2d	1	1.32mi

Listing history 29 events

1. 2026-06-08
   days on market $275,000 Active 88 DOM
2. 2026-06-07
   days on market $275,000 Active 87 DOM
3. 2026-06-04
   days on market $275,000 Active 84 DOM
4. 2026-06-03
   days on market $275,000 Active 83 DOM
5. 2026-06-02
   days on market $275,000 Active 82 DOM
6. 2026-06-01
   days on market $275,000 Active 81 DOM
7. 2026-05-31
   days on market $275,000 Active 80 DOM
8. 2026-05-08
   status Active 757-char remark

   Show marketing remark (757 chars)

   Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

9. 2026-05-06
   historical 757-char remark

   Show marketing remark (757 chars)

   Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

10. 2026-05-01
    status Active 757-char remark

    Show marketing remark (757 chars)

    Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

11. 2026-04-25
    historical 757-char remark

    Show marketing remark (757 chars)

    Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

12. 2026-04-17
    price $275,000 757-char remark

    Show marketing remark (757 chars)

    Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

13. 2026-03-24
    price $299,900 757-char remark

    Show marketing remark (757 chars)

    Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

14. 2026-03-04
    listed $325,000 Active 757-char remark

    Show marketing remark (757 chars)

    Rare Up/Down Duplex neat it all- Ideal for Investors or Owner-Occupants! Don't miss this exceptional opportunity to own a rarely available 2.5-story up/down duplex in a prime location close to everything! The spacious main-level unit, intentionally left vacant, is perfect for an owner- occupant ready to add their personal touch with a little TLC. This bright and airy 2-bedroom unit offers abundant natural light and functional living space. Upstairs, the unique 2-level upper unit features 2 bedrooms, 2 bathrooms, a living room, a kitchen and a cozy den- beautifully updated for modern living. Whether you're looking to live in one unit and rent the other, or add to your investment portfolio, this property offers flexibility and strong potential.

15. 2025-06-30
    historical
16. 2025-05-29
    listed $275,000 Active
17. 2024-02-06
    historical
18. 2023-12-13
    status Active
19. 2023-11-22
    status Pending
20. 2023-11-02
    price $299,000
21. 2023-10-05
    listed $325,000 Active
22. 2023-09-21
    historical
23. 2008-11-17
    historical
24. 2008-03-12
    listed $119,900
25. 2008-03-11
    historical
26. 2008-01-07
    listed $139,900
27. 2007-12-24
    historical
28. 2007-07-24
    listed $139,900
29. 2007-03-02
    soldstatus $117,000

ⓘ 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: $4,290 · $357/mo
• Projected year-2 tax: $4,290 · $357/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: $38,324
• − Mortgage interest: −$15,404
• − Property taxes: −$4,290
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,066
• − Management: −$3,066
• − Depreciation: −$8,000
• Taxable income: $3,123
• Est. tax owed @ 24.0%: −$750
• After-tax cash flow: $6,556/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): 31,507
• Household income: $70,326
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 2619.0

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 0.60)
• Race & ethnicity: White 59% Black 17% Hispanic / Latino 11% Two or more races 9% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 8% Romanian 6% Lithuanian 3%
• Foreign-born: 15% · Canada, South Korea, Vietnam
• Languages at home: 79% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.08%
• Current HPI: 256.0491
• Rent YoY: ▲ 4.77%
• 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

+135.0% since first listed

22 events — show timeline

• 2026-05-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-04 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-29 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-02 Price Changed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-05 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-21 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-12 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-07 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-24 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-02 Sold (Public Records) $117,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $4,290 · +12.4% YoY. Source: county tax records.