16420 4th Ave N · Plymouth, MN 55447

$519,900

4 bd · 3.0 ba · 2,187 sqft · SingleFamily public records · 50 Days on market

Built 1966 0.45 ac lot $238/sqft · at area comps Est $541k · at est.

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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 +26.2/30.0
• ARV discount +9.2/15.0
• DSCR +8.9/10.0
• Schools +6.9/10.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

Key facts

• Renovated bathrooms
• Large yard
• Deck

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOMS
• FINISHED LOWER LEVEL
• LARGE YARD
• DECK
• WALKABILITY TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $520k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $520k).
• Recommended offer: $504k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.1% in Plymouth — 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 85/100 on livability (#17 in MN, #517 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Wayzata Public School District (urban): math 75% / reading 78% proficiency, ranked #2 of 301 in MN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.1%/yr); 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $5,909/mo this rent would consume 53% of the median local household income ($134k/yr) (locally 265% 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 $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($504k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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; list at $520k implies a 53% gain — meaningful room to come down on a strong offer.

Recommended offer $504,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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 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?
5. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.97%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (median comp): $540,822
• List price: $519,900
• Delta: -3.87%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-10,390
• Equity at exit: $77,519

10-year hold

• IRR: 5.7%
• Equity multiple: 1.39×
• Total profit: $57,072
• Equity at exit: $44,951

Cash invested: $145,572 (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 55447

• Rents YoY: 1.1%
• Active inventory: 124
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $5,909 medium
• Mortgage (P&I): −$2,726
• Tax from tax record: −$395 /mo · $4,739/yr
• Insurance: −$217
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,241
• Net cashflow: $1,330

Break-even live

Break-even rent $4,225

Max offer price $519,900

Occupancy floor 72%

Sensitivity live

Price	-10% $1,625	-5% $1,477	+0% $1,330	+5% $1,183	+10% $1,036
Rent	-10% $863	-5% $1,097	+0% $1,330	+5% $1,564	+10% $1,797
Rate	-1.0pp $1,592	-0.5pp $1,462	base $1,330	+0.5pp $1,196	+1.0pp $1,058

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: $129,975
• Closing costs: $15,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15805 16th Pl N Minneapolis, MN	3.0	2.5	2141	$3,200	$1.49	13d	1	0.97mi
1021 Gardner St Wayzata, MN	4.0	3.5	2780	$7,995	$2.88	45d	1	0.98mi
910 Wayzata Blvd E Wayzata, MN	1.0–3.0	1.0–3.0	1427	$14,050	$9.85	0d	35	1.28mi

Listing history 15 events

1. 2026-05-14
   historical Contingent - Other 1001-char remark

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

2. 2026-05-07
   price $519,900 1001-char remark

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

3. 2026-05-01
   price $524,900 1001-char remark

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

4. 2026-04-16
   price $534,000 1001-char remark

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

5. 2026-04-02
   listed $539,000 Active 1001-char remark

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

6. 2026-04-02
   historical

   Show marketing remark (1001 chars)

   Gorgeous almost 1/2 acre property with a renovated 4-bedroom, 3-bath home in an exceptional location on a corner homesite near Lake Gleason and Wayzata Central Middle School, not far from Downtown Wayzata! This move-in-ready property offers the perfect blend of privacy and convenience, with easy walkability to schools, parks, and the Luce Line Trail, plus quick access to 394 & 494 without the noise. Inside, you’ll find a stunning new kitchen and fully renovated bathrooms, along with fresh new siding that enhances both curb appeal and peace of mind. The fully finished walkout lower level provides versatile living space ideal for a family room, home office, or guest suite. Step outside to enjoy the large yard and deck—perfect for entertaining, relaxing, or enjoying Minnesota summers. With Gleason Lake, Parkers Lake, and Lake Minnetonka just minutes away, this home offers an unbeatable lifestyle in one of the area’s most sought-after locations. Don't miss this gem!

7. 2026-04-01
   price $539,000
8. 2026-03-26
   status Active
9. 2026-03-18
   historical Contingent - Inspection
10. 2026-03-12
    price $549,000
11. 2026-03-06
    price $559,000
12. 2026-02-20
    listed $574,500 Active
13. 2026-02-12
    historical
14. 2025-12-08
    soldstatus $340,000
15. 1973-02-01
    soldstatus $44,000

ⓘ 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: $4,739 · $395/mo
• Projected year-2 tax: $5,281 · $440/mo
• Expected delta: +$542/yr (+$45/mo · 11.4%)

ⓘ 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 ≥98°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: $70,909
• − Mortgage interest: −$29,122
• − Property taxes: −$4,739
• − Insurance: −$2,600
• − Repairs & maintenance: −$5,673
• − Management: −$5,673
• − Depreciation: −$15,124
• Taxable income: $7,979
• Est. tax owed @ 24.0%: −$1,915
• After-tax cash flow: $14,048/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: Wayzata Public School District
• NCES district ID: 2742160
• Math proficiency: 75% ▼ -4.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $91,783
• Composite: 68.75/100
• National rank: #336
• State rank: #2 of 301 in MN

Livability — Plymouth

• Score: 85/100
• State rank: #17
• US rank: #517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plymouth, MN
• County: Hennepin County · 1,150,272 people
• City population: 79,816
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 20,931
• Household income: $133,555
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 265.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 6% Asian 5% Hispanic / Latino 5% Black 3%
• Common ancestry: Portuguese 14% Romanian 4% Lithuanian 3%
• Foreign-born: 10% · Canada, China, Dominican Republic
• Languages at home: 88% English-only · Spanish 3% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -380.57%
• Current HPI: 229.7126
• Rent YoY: ▲ 1.15%
• 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

+1081.6% since first listed

15 events — show timeline

• 2026-05-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $519,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $524,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $534,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Listed $539,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $539,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $549,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $559,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-20 Listed $574,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-12 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-08 Sold (Public Records) $340,000 Public Records
• 1973-02-01 Sold (Public Records) $44,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,739 · +6.3% YoY. Source: county tax records.