1655 Sheridan Ave N · Minneapolis, MN 55411

$169,900

3 bd · 1.0 ba · 1,099 sqft · SingleFamily public records · 18 Days on market

Built 1920 5,227 sqft lot $155/sqft · 14% below area Est $224k · 24% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• 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

Listing remarks MLS

Complete remodel-brand new 2 car garage & slab, new vinyl & glass block windows, new kitchen cabinets, s/s appliances, tile backsplash,bath remodel, newer furnace & water heater, new interior & ext paint, new ceramic fplc surround, new carpet, fixtures ++

Key facts

• 5,227 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Asphalt driveway; 1-car garage with garage door opener
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-and-one-half story; Above-grade finished area and additional below-grade space
• Construction: Block foundation; Asphalt roof
• Exterior features: Stone, stucco and wood exterior; Privacy wood fencing; Public transit within 6 blocks; Medium tree coverage; City street with curbs, paved streets and sidewalks

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (one bedroom on the main floor)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; No central air
• Interior features: Ceiling fan(s); Hardwood floors; Natural woodwork; Kitchen window; Tile floors; Walk-in closet; Wood-burning fireplace in the living room; Main floor full bathroom
• Laundry & utility: Washer and dryer (hookup and appliances listed: washer, dryer)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/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 $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 + 7.3% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $170k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (median comp): $223,935
• List price: $169,900
• Delta: -24.13%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $5,443
• Equity at exit: $25,333

10-year hold

• IRR: 16.2%
• Equity multiple: 2.59×
• Total profit: $75,736
• Equity at exit: $14,690

Cash invested: $47,572 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$891
• Tax from tax record: −$199 /mo · $2,383/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $378

Break-even live

Break-even rent $1,469

Max offer price $169,900

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	20d	1	0.05mi
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	15d	1	0.12mi
1507 N Newton Ave Unit 2 Minneapolis, MN	4.0	1.0	1068	$1,499	$1.40	44d	1	0.35mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	18d	1	0.36mi
2419 Plymouth Ave N Minneapolis, MN	2.0–3.0	1.0	836	$1,795	$2.15	4d	2	0.39mi
1239 Sheridan Ave N Minneapolis, MN	1.0–2.0	1.0	795	$1,250	$1.57	4d	4	0.40mi
1255 Queen Ave N Minneapolis, MN	1.0–2.0	1.0	633	$1,419	$2.24	3d	4	0.42mi
1816 Zephyr Pl Minneapolis, MN	3.0	1.0	1120	$2,050	$1.83	44d	1	0.45mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	8d	4	0.46mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	44d	1	0.49mi
1429 Knox Ave N Unit 1429 Minneapolis, MN	4.0	1.0	1260	$1,995	$1.58	44d	1	0.52mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	44d	1	0.56mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	15d	3	0.59mi
1237 Knox Ave N Unit 1237 Minneapolis, MN	3.0	1.0	1196	$1,900	$1.59	4d	1	0.63mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	15d	1	0.67mi
1016 N Newton Ave Unit 4 Minneapolis, MN	3.0	1.0	1009	$1,895	$1.88	44d	1	0.67mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	0.69mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	22d	1	0.69mi
816 Queen Ave N Minneapolis, MN	3.0	1.0	1200	$1,895	$1.58	44d	1	0.72mi
1407 N Girard Ave Unit 2 Minneapolis, MN	2.0	1.0	1472	$1,900	$1.29	18d	1	0.75mi
1030 Knox Ave N Apt 2 Minneapolis, MN	4.0	1.0	900	$2,099	$2.33	44d	1	0.78mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	2d	1	0.86mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	8d	1	0.96mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	14d	1	0.96mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	22d	1	1.01mi
2600 France Ave N Unit 2600 Minneapolis, MN	2.0	1.5	1100	$1,599	$1.45	4d	1	1.03mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	14d	1	1.03mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	3d	7	1.05mi
2212 Glenwood Ave Unit 1 Minneapolis, MN	2.0	1.0	950	$1,299	$1.37	44d	1	1.12mi
1901 4th Ave N Minneapolis, MN	3.0	2.0	1300	$1,300	$1.00	24d	1	1.13mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	1.15mi
1611 Glenwood Ave #1 Minneapolis, MN	3.0	2.0	918	$1,995	$2.17	14d	1	1.24mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	1.29mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	18d	1	1.30mi
224 Cedar Lake Rd N Unit 12 Minneapolis, MN	2.0	1.0	750	$1,100	$1.47	44d	1	1.33mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	24d	1	1.33mi
265 N Girard Ave Minneapolis, MN	1.0–2.0	1.0–2.0	760	$2,075	$2.73	8d	9	1.39mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	1.39mi
229 Irving Ave N Minneapolis, MN	3.0	1.0–2.0	767	$1,565	$2.04	18d	7	1.39mi
1475 Currie Ave W Minneapolis, MN	2.0	1.0	650	$1,425	$2.19	4d	1	1.48mi

Listing history 22 events

1. 2026-06-16
   status $169,900 Pending 18 DOM
2. 2026-06-15
   days on market $169,900 Contingent - Inspection 18 DOM
3. 2026-06-13
   days on market $169,900 Contingent - Inspection 16 DOM
4. 2026-06-09
   days on market $169,900 Contingent - Inspection 12 DOM
5. 2026-06-08
   days on market $169,900 Contingent - Inspection 11 DOM
6. 2026-06-08
   status $169,900 Contingent - Inspection 10 DOM
7. 2026-06-07
   days on market $169,900 Active 10 DOM
8. 2026-06-04
   days on market $169,900 Active 7 DOM
9. 2026-06-03
   days on market $169,900 Active 6 DOM
10. 2026-06-02
    days on market $169,900 Active 5 DOM
11. 2026-06-01
    days on market $169,900 Active 4 DOM
12. 2026-05-31
    pricedays on market $169,900 Active 3 DOM
13. 2026-05-15
    historical $179,000 435-char remark
14. 2024-10-17
    historical $1,750
15. 2024-09-26
    listed $1,750
16. 2012-05-25
    soldstatus $62,000
17. 2012-04-17
    soldstatus $62,000 271-char remark

    Show marketing remark (271 chars)

    Complete remodel-brand new 2 car garage & slab, new vinyl & glass block windows, new kitchen cabinets, s/s appliances, tile backsplash,bath remodel, newer furnace & water heater, new interior & ext paint, new ceramic fplc surround, new carpet, fixtures ++

18. 2012-02-21
    historical 271-char remark

    Show marketing remark (271 chars)

    Complete remodel-brand new 2 car garage & slab, new vinyl & glass block windows, new kitchen cabinets, s/s appliances, tile backsplash,bath remodel, newer furnace & water heater, new interior & ext paint, new ceramic fplc surround, new carpet, fixtures ++

19. 2011-09-13
    listed $69,900 271-char remark

    Show marketing remark (271 chars)

    Complete remodel-brand new 2 car garage & slab, new vinyl & glass block windows, new kitchen cabinets, s/s appliances, tile backsplash,bath remodel, newer furnace & water heater, new interior & ext paint, new ceramic fplc surround, new carpet, fixtures ++

20. 2010-12-29
    soldstatus $26,900

    Show marketing remark (223 chars)

    Relatively clean starter home or perfect for that investor. Main floor fireplace along with a dining room with the classic built in buffet. Also on the main floor is a family room. Garage off the alley. Fenced in back yard.

21. 2010-12-07
    historical

    Show marketing remark (223 chars)

    Relatively clean starter home or perfect for that investor. Main floor fireplace along with a dining room with the classic built in buffet. Also on the main floor is a family room. Garage off the alley. Fenced in back yard.

22. 2010-11-30
    listed $26,900

    Show marketing remark (223 chars)

    Relatively clean starter home or perfect for that investor. Main floor fireplace along with a dining room with the classic built in buffet. Also on the main floor is a family room. Garage off the alley. Fenced in back yard.

ⓘ 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: $2,383 · $199/mo
• Projected year-2 tax: $2,383 · $199/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $23,364
• − Mortgage interest: −$9,517
• − Property taxes: −$2,383
• − Insurance: −$850
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$4,943
• Taxable income: $1,933
• Est. tax owed @ 24.0%: −$464
• After-tax cash flow: $4,069/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

+531.6% since first listed

14 events — show timeline

• 2026-06-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-30 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-29 Listed $179,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $179,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-17 Rental Removed $1,750 SHOWMOJO
• 2024-09-26 Listed for Rent $1,750 SHOWMOJO
• 2012-05-25 Sold (Public Records) $62,000 Public Records
• 2012-04-17 Sold (MLS) $62,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-13 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-29 Sold (MLS) $26,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-30 Listed $26,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $2,383 · -26.9% YoY. Source: county tax records.