6670 Vernon Ave S · Edina, MN 55436

$160,000

1 bd · 1.0 ba · 780 sqft · Condo · 101 Days on market

Built 1985 Good condition $205/sqft · 11% below area Est $179k · 11% under ↓ 22% since listing

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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 +21.3/30.0
• ARV discount +12.2/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Rent growth +4.7/5.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The nature. The neighborhood. The value. It all lines up. This isn't your average Edina condo. The moment you step onto the private balcony at 6670 Vernon Ave S, you understand what makes this one different a sweeping view of a wildlife preserve, with Nine Mile Creek just below and the region's most scenic trail system right outside your door. Inside, the unit has been carefully updated: a refreshed kitchen, renovated bathroom with a walk-in glass shower, smooth ceilings, and updated doors throughout. It's clean, modern, and genuinely move-in ready. What truly sets this apart is what's included in the HOA. At $557.27 a month, you're covered for electric, gas, heat, air conditioning, water, and internet. That's your utility budget handled. Add to that access to indoor and outdoor pools, tennis courts, a racquetball court, fitness room, community garden, pool room, and a shared guest room for when family visits. One heated underground garage space comes with the unit. What's around you: Nine Mile Creek Regional Trail 15+ miles of paved trail through wetlands, woodlands, and wooden boardwalks connecting to the Chain of Lakes Bredesen Park and Walnut Ridge Park practically in your backyard 50th & France Edina's beloved boutique shopping and dining district (Edina Grill, Red Cow, independent shops and restaurants) just minutes away The Galleria and Southdale Center upscale retail close by Jerry's Foods, Walgreens, and everyday conveniences on Vernon Fairview Southdale Hospital 4.2 miles Quick access to Hwy 62 and 169 At $160,000 in Edina, with everything included, and a balcony that looks out over nothing but trees, creek, and sky this one won't last.

Key facts

• Wildlife preserve
• Private balcony
• Sweeping view

Tags

• PRIVATE BALCONY
• SWEEPING VIEW
• WILDLIFE PRESERVE
• NINE MILE CREEK
• SCENIC TRAIL SYSTEM
• REFRESHED KITCHEN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Hopkins Public School District (suburban): math 48% / reading 57% proficiency, ranked #75 of 301 in MN (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.8%/yr); 122 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent is only 14% of the median local income ($144k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 8.0% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $110k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $178,865
• List price: $160,000
• Delta: -10.55%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,962
• Equity at exit: $23,857

10-year hold

• IRR: 13.3%
• Equity multiple: 2.31×
• Total profit: $58,494
• Equity at exit: $13,834

Cash invested: $44,800 (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 55436

• Rents YoY: 8.8%
• Active inventory: 122
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,697 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $235

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 81%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6670 Vernon Ave S #105 Minneapolis, MN	1.0	1.0	750	$1,900	$2.53	43d	1	0.03mi
6650 Vernon Ave S #407 Minneapolis, MN	2.0	1.0	903	$1,900	$2.10	11d	1	0.12mi
5995 Lincoln Dr Minneapolis, MN	2.0	1.0–2.0	1008	$2,413	$2.39	1d	18	0.34mi
10702 Red Circle Dr Minnetonka, MN	3.0	1.0–3.0	953	$2,517	$2.64	1d	137	1.09mi
1006 Westbrooke Way Unit 1006-1 Hopkins, MN	1.0	1.0	705	$1,200	$1.70	43d	1	1.15mi
11001 Bren Rd E Hopkins, MN	1.0–3.0	1.0–2.0	1001	$1,422	$1.42	15d	25	1.16mi
6426 W City Pkwy Eden Prairie, MN	1.0–2.0	1.0–2.0	891	$1,548	$1.74	2d	13	1.16mi
10950 Red Circle Dr Hopkins, MN	2.0	1.0–2.0	876	$2,018	$2.30	1d	15	1.16mi
1023 Smetana Rd #6 Hopkins, MN	1.0	1.0	720	$1,295	$1.80	18d	1	1.24mi
1007 11th Ave S Unit 1007-4 Hopkins, MN	2.0	1.0	920	$1,450	$1.58	12d	1	1.26mi
946 Westbrooke Way #1 Hopkins, MN	1.0	1.0	770	$1,250	$1.62	43d	1	1.27mi
946 Westbrooke Way #3 Hopkins, MN	1.0	1.0	786	$1,325	$1.69	43d	1	1.27mi
820 Old Settlers Trl #6 Hopkins, MN	1.0	1.0	800	$1,275	$1.59	24d	1	1.29mi
942 Westbrooke Way #1 Hopkins, MN	2.0	1.0	918	$1,550	$1.69	18d	1	1.29mi
932 Westbrooke Way #8 Hopkins, MN	2.0	1.0	918	$1,375	$1.50	5d	1	1.31mi
11050 Red Circle Dr Hopkins, MN	3.0	1.0–2.0	1110	$2,327	$2.10	1d	49	1.31mi
930 Westbrooke Way Unit 930-1 Hopkins, MN	1.0	1.0	705	$1,250	$1.77	43d	1	1.32mi
926 Westbrooke Way Unit 926-8 Hopkins, MN	1.0	1.0	705	$1,300	$1.84	43d	1	1.33mi
10745 Smetana Rd Minnetonka, MN	2.0	1.0–2.0	811	$1,430	$1.76	3d	18	1.35mi
917 11th Ave S Hopkins, MN	1.0	1.0	700	$995	$1.42	43d	1	1.42mi
810 9th Ave S #8 Hopkins, MN	1.0	1.0	700	$1,099	$1.57	12d	1	1.46mi
6901 Flying Cloud Dr Eden Prairie, MN	1.0–2.0	1.0–2.0	943	$1,581	$1.68	1d	20	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergaselectricinternetpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-03
   days on market $160,000 Active 101 DOM
2. 2026-06-02
   days on market $160,000 Active 100 DOM
3. 2026-06-01
   days on market $160,000 Active 99 DOM
4. 2026-05-31
   days on market $160,000 Active 98 DOM
5. 2026-02-22
   listed $160,000 Active 1690-char remark

   Show marketing remark (1690 chars)

   The nature. The neighborhood. The value. It all lines up. This isn't your average Edina condo. The moment you step onto the private balcony at 6670 Vernon Ave S, you understand what makes this one different a sweeping view of a wildlife preserve, with Nine Mile Creek just below and the region's most scenic trail system right outside your door. Inside, the unit has been carefully updated: a refreshed kitchen, renovated bathroom with a walk-in glass shower, smooth ceilings, and updated doors throughout. It's clean, modern, and genuinely move-in ready. What truly sets this apart is what's included in the HOA. At $557.27 a month, you're covered for electric, gas, heat, air conditioning, water, and internet. That's your utility budget handled. Add to that access to indoor and outdoor pools, tennis courts, a racquetball court, fitness room, community garden, pool room, and a shared guest room for when family visits. One heated underground garage space comes with the unit. What's around you: Nine Mile Creek Regional Trail 15+ miles of paved trail through wetlands, woodlands, and wooden boardwalks connecting to the Chain of Lakes Bredesen Park and Walnut Ridge Park practically in your backyard 50th & France Edina's beloved boutique shopping and dining district (Edina Grill, Red Cow, independent shops and restaurants) just minutes away The Galleria and Southdale Center upscale retail close by Jerry's Foods, Walgreens, and everyday conveniences on Vernon Fairview Southdale Hospital 4.2 miles Quick access to Hwy 62 and 169 At $160,000 in Edina, with everything included, and a balcony that looks out over nothing but trees, creek, and sky this one won't last.

6. 2003-08-19
   soldstatus $110,000
7. 2003-07-21
   listed $110,000
8. 2003-07-03
   historical
9. 2002-12-20
   soldstatus $147,500
10. 2002-12-16
    historical
11. 2002-11-19
    listed $139,900
12. 2002-08-29
    soldstatus $197,500
13. 2002-05-30
    historical
14. 2002-04-30
    listed $204,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,366
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$4,655
• Taxable income: $290
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $2,751/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This Edina condo is move-in ready with updated kitchen and bathroom, and a private balcony with scenic views. Minor updates to paint and carpet can further enhance its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace carpet in bedrooms — New carpet can improve comfort and add value to the home.
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and increase its appeal to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace carpet in bedrooms — New carpet can improve comfort and add value to the home. ↑
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and increase its appeal to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hopkins Public School District
• NCES district ID: 2714260
• Math proficiency: 48% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $66,915
• Composite: 46.44/100
• National rank: #2448
• State rank: #75 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): 14,462
• Household income: $144,129
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 439.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 15% Romanian 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 92% English-only · French/Haitian/Cajun 2% Spanish 2% Other Indo-European 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: ▼ -451.22%
• Current HPI: 239.0967
• Rent YoY: ▲ 8.84%
• 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

-21.9% since first listed

10 events — show timeline

• 2026-02-22 Listed $160,000 ForSaleByOwner.com
• 2003-08-19 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-21 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-20 Sold (MLS) $147,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-19 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-29 Sold (MLS) $197,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-05-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-04-30 Listed $204,900 NORTHSTARMLS as Distributed by MLS Grid