11820 Monroe Cir NE · Blaine, MN 55434

$325,000

3 bd · 2.0 ba · 1,028 sqft · SingleFamily public records · 2 Days on market

Built 1970 0.29 ac lot $316/sqft · 43% above area Est $406k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.4/30.0
• Schools +4.7/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offers Received. Offers due by 7:30pm Thursday 2/7/19. Great opportunity to own a 3 bed, 2 bath home set on a quiet cul-de-sac at at a great price. Features: New furnace (2019), new roof (2016), fresh paint (2019), hardwood floors, spacious family room w/ fireplace, updated kitchen w/ custom cabinetry & new tile floors, counters and backsplash, spacious master bedroom w/ walk-in closet, large rear deck, private backyard w/ mature trees all conveniently located near parks, trails & more

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1970

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 21 x 20)
• Security: Security system
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential split entry (bi-level); Entry levels on main and lower floors
• Construction: Block foundation
• Exterior features: Deck; Patio; Chain link full fencing; Irregular lot with medium tree coverage; Cul-de-sac frontage

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (main and lower levels)
• Bathrooms: 1 full bath (upper level); 1 three-quarter bath (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Fireplace (1); Kitchen/Dining open concept; Primary bedroom with walk-in closet; Security system
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (26.3% below list).
• Recommended offer: $239k (26.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.0% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary (math 48% / reading 52%, grade D+, #417 of 857 statewide, top 49%, 573 students, 50% FRL); Northdale Middle (math 40% / reading 55%, grade C-, #93 of 258 statewide, top 37%, 1,274 students, 46% FRL); Blaine High School (math 46% / reading 67%, grade C, #77 of 471 statewide, top 17%, 2,969 students, 37% FRL) — zoned schools average 44% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• This rent runs 32% of the median local income ($90k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 33y 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.

Recommended offer $239,466 (26.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 11.3

CMA / ARV

• ARV (median comp): $405,811
• List price: $325,000
• Delta: -19.91%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-62,979
• Equity at exit: $48,459

10-year hold

• IRR: -9.2%
• Equity multiple: 0.39×
• Total profit: $-55,202
• Equity at exit: $28,100

Cash invested: $91,000 (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 55434

• Rents YoY: 4.8%
• Active inventory: 114
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,395 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$282 /mo · $3,387/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-230

Break-even live

Break-even rent $2,686

Max offer price $284,326

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-138	+0% $-230	+5% $-322	+10% $-414
Rent	-10% $-419	-5% $-325	+0% $-230	+5% $-136	+10% $-41
Rate	-1.0pp $-67	-0.5pp $-148	base $-230	+0.5pp $-314	+1.0pp $-400

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	850	$3,041	$3.58	0d	6	0.57mi
12373 Oak Park Blvd NE Blaine, MN	1.0–3.0	1.0–2.0	1023	$2,189	$2.14	0d	1	0.76mi
231 Northdale Blvd NW Minneapolis, MN	3.0	1.0	1044	$2,100	$2.01	45d	1	1.28mi
1558 126th Ave NE Unit 1545 Blaine, MN	3.0	1.0	970	$1,675	$1.73	5d	1	1.39mi

Listing history 17 events

1. 2026-05-11
   status Pending 712-char remark
2. 2026-05-09
   listed $325,000 Active 712-char remark
3. 2026-05-07
   historical $325,000 712-char remark
4. 2019-03-08
   soldstatus $247,000
5. 2019-03-06
   status Pending 507-char remark

   Show marketing remark (507 chars)

   Multiple Offers Received. Offers due by 7:30pm Thursday 2/7/19. Great opportunity to own a 3 bed, 2 bath home set on a quiet cul-de-sac at at a great price. Features: New furnace (2019), new roof (2016), fresh paint (2019), hardwood floors, spacious family room w/ fireplace, updated kitchen w/ custom cabinetry & new tile floors, counters and backsplash, spacious master bedroom w/ walk-in closet, large rear deck, private backyard w/ mature trees all conveniently located near parks, trails & more

6. 2019-03-06
   soldstatus $247,000 Sold 507-char remark

   Show marketing remark (507 chars)

   Multiple Offers Received. Offers due by 7:30pm Thursday 2/7/19. Great opportunity to own a 3 bed, 2 bath home set on a quiet cul-de-sac at at a great price. Features: New furnace (2019), new roof (2016), fresh paint (2019), hardwood floors, spacious family room w/ fireplace, updated kitchen w/ custom cabinetry & new tile floors, counters and backsplash, spacious master bedroom w/ walk-in closet, large rear deck, private backyard w/ mature trees all conveniently located near parks, trails & more

7. 2019-02-08
   historical Contingent - Inspection 507-char remark

   Show marketing remark (507 chars)

   Multiple Offers Received. Offers due by 7:30pm Thursday 2/7/19. Great opportunity to own a 3 bed, 2 bath home set on a quiet cul-de-sac at at a great price. Features: New furnace (2019), new roof (2016), fresh paint (2019), hardwood floors, spacious family room w/ fireplace, updated kitchen w/ custom cabinetry & new tile floors, counters and backsplash, spacious master bedroom w/ walk-in closet, large rear deck, private backyard w/ mature trees all conveniently located near parks, trails & more

8. 2019-02-05
   listed $239,900 Active 507-char remark

   Show marketing remark (507 chars)

   Multiple Offers Received. Offers due by 7:30pm Thursday 2/7/19. Great opportunity to own a 3 bed, 2 bath home set on a quiet cul-de-sac at at a great price. Features: New furnace (2019), new roof (2016), fresh paint (2019), hardwood floors, spacious family room w/ fireplace, updated kitchen w/ custom cabinetry & new tile floors, counters and backsplash, spacious master bedroom w/ walk-in closet, large rear deck, private backyard w/ mature trees all conveniently located near parks, trails & more

9. 1994-05-31
   soldstatus $103,900
10. 1994-04-12
    historical
11. 1994-04-08
    listed $103,900
12. 1994-04-07
    historical
13. 1994-02-07
    listed $103,900
14. 1994-02-04
    historical
15. 1993-11-04
    listed $111,900
16. 1993-06-05
    soldstatus $102,400
17. 1993-05-29
    listed $102,900

ⓘ 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: $3,387 · $282/mo
• Projected year-2 tax: $3,514 · $293/mo
• Expected delta: +$126/yr (+$11/mo · 3.7%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,736
• − Mortgage interest: −$18,205
• − Property taxes: −$3,387
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$9,455
• Taxable loss: −$8,534
• Est. tax savings @ 24.0%: +$2,048
• After-tax cash flow: $-715/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 33,029
• Household income: $90,336
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 526.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 10% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 5% Italian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Other Asian/Pacific 2% Vietnamese 2%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -230.62%
• Current HPI: 254.0422
• Rent YoY: ▲ 4.79%
• 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

+260.5% since first listed

18 events — show timeline

• 2026-06-15 Sold (MLS) $371,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Coming Soon $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-08 Sold (Public Records) $247,000 Public Records
• 2019-03-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-06 Sold (MLS) $247,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-05 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-31 Sold (MLS) $103,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-08 Listed $103,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-02-07 Listed $103,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-02-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-11-04 Listed $111,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-06-05 Sold (MLS) $102,400 NORTHSTARMLS as Distributed by MLS Grid
• 1993-05-29 Listed $102,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2026): $3,387 · +6.1% YoY. Source: county tax records.