3842 Fremont Ave N · Minneapolis, MN 55412

$185,000

3 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 28 Days on market

Built 1912 5,227 sqft lot $128/sqft · 47% below area Est $339k · 45% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming home is perfect for investors or first-time buyers! The kitchen has been beautifully updated with new flooring, cabinets, granite countertops, and appliances. The interior will be freshly painted where necessary to give it a bright, welcoming feel, and the refinished hardwood floors add warmth and character. The bathroom got a stylish refresh too! Currently used as a rental, this home is already generating income, making it a smart investment or a great place to start your next chapter. Current lease ends on May 28th, and house will be ready on or before June 10th after repairs. 48 hour notice is required for all showings. Contract for deed accepted with significant down payme

Key facts

• New flooring
• Kitchen updated
• Bathroom refresh

Tags

• KITCHEN UPDATED
• NEW FLOORING
• GRANITE COUNTERTOPS
• REFINISHED HARDWOOD FLOORS
• BATHROOM REFRESH
• GENERATING INCOME

Property features AI

Finance

• Financial info: Rental license: Standard (rental license active)

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property with two levels; Main entry on main level
• Construction: Asphalt roof; Foundation listed as other with foundation dimensions ~29x24; Above-grade finished area and living area approximately 1,392
• Exterior features: Covered front porch; Glass-enclosed porch; Rear porch; Wood exterior; Chain link fence; Road frontage on a city street; Lot dimensions approximately 127x40

Interior

• Kitchen: Kitchen (14x19); Range; Refrigerator
• Bedrooms: 3 bedrooms (two on upper level, one on main level); Bedroom sizes include 20x10, 12x9, and 9x9
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Separate/formal dining room; Full, unfinished basement
• Laundry & utility: Washer and dryer (in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (2.3% below list).
• Recommended offer: $181k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 (+6.3%/yr); 169 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 32% of the median local income ($69k/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 $6k 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 28 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 14 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.
• Current owner paid $158k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,718 (2.3% below list)

Questions for the listing agent

1. Built in 1912 — 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: 0.98% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $338,960
• List price: $185,000
• Delta: -42.47%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-13,402
• Equity at exit: $27,584

10-year hold

• IRR: 6.6%
• Equity multiple: 1.57×
• Total profit: $29,301
• Equity at exit: $15,995

Cash invested: $51,800 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 169
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$970
• Tax from tax record: −$219 /mo · $2,632/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $161

Break-even live

Break-even rent $1,603

Max offer price $185,000

Occupancy floor 86%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	4d	1	0.11mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	43d	1	0.63mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	0.72mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	17d	1	0.82mi
414 N 33rd Ave Unit 2 Minneapolis, MN	2.0	1.0	1246	$1,600	$1.28	43d	1	0.82mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	0.88mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	24d	1	0.89mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	0.96mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	24d	1	1.07mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	14d	1	1.07mi
3001 N 3rd St Apt 1 Minneapolis, MN	2.0	1.0	900	$1,250	$1.39	20d	1	1.12mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	21d	1	1.19mi
2646 Dupont Ave N Unit 2 Minneapolis, MN	4.0	1.0	1514	$2,245	$1.48	43d	1	1.22mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	4d	1	1.33mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	43d	1	1.33mi
2330 N Irving Ave Minneapolis, MN	2.0	1.0	1600	$1,375	$0.86	7d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $185,000 Active 28 DOM
2. 2026-06-17
   days on market $185,000 Active 27 DOM
3. 2026-06-16
   days on market $185,000 Active 26 DOM
4. 2026-06-15
   days on market $185,000 Active 25 DOM
5. 2026-06-13
   days on market $185,000 Active 23 DOM
6. 2026-06-09
   days on market $185,000 Active 19 DOM
7. 2026-06-08
   days on market $185,000 Active 18 DOM
8. 2026-06-07
   days on market $185,000 Active 17 DOM
9. 2026-06-04
   days on market $185,000 Active 14 DOM
10. 2026-06-03
    days on market $185,000 Active 13 DOM
11. 2026-06-02
    days on market $185,000 Active 12 DOM
12. 2026-06-01
    days on market $185,000 Active 11 DOM
13. 2026-05-31
    days on market $185,000 Active 10 DOM
14. 2026-05-01
    price $195,000 702-char remark
15. 2026-04-09
    listed $200,000 Active 702-char remark
16. 2026-04-07
    historical $200,000 702-char remark
17. 2025-06-30
    historical
18. 2025-03-29
    listed $200,000 Active
19. 2025-03-28
    historical
20. 2023-03-08
    soldstatus $157,500
21. 2023-02-23
    soldstatus $157,500 Sold
22. 2023-02-07
    status Pending
23. 2023-01-20
    price $169,900
24. 2023-01-04
    listed $174,900 Active
25. 2022-12-28
    historical $174,900
26. 2022-12-20
    historical
27. 2022-12-01
    status Active
28. 2022-10-18
    status Pending
29. 2022-09-14
    price $179,900
30. 2022-08-31
    listed $189,900 Active
31. 2022-04-04
    historical
32. 2022-04-04
    historical
33. 2022-04-04
    listed $135,000
34. 2013-11-08
    soldstatus $65,000
35. 2012-01-27
    soldstatus $20,000
36. 2012-01-11
    historical
37. 2011-11-21
    listed $31,000
38. 2011-10-11
    historical
39. 2010-08-05
    listed $24,900
40. 2005-01-11
    soldstatus $126,500
41. 2004-12-08
    soldstatus $126,500
42. 2004-11-04
    historical
43. 2004-05-19
    listed $128,900
44. 1997-12-18
    soldstatus $35,000
45. 1997-10-28
    soldstatus $35,000
46. 1997-09-09
    historical
47. 1997-08-20
    listed $35,000
48. 1996-05-06
    historical
49. 1995-11-06
    listed $48,900
50. 1994-04-28
    soldstatus $51,900

ⓘ 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: $2,632 · $219/mo
• Projected year-2 tax: $2,632 · $219/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: $21,686
• − Mortgage interest: −$10,363
• − Property taxes: −$2,632
• − Insurance: −$925
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$5,382
• Taxable loss: −$1,085
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $2,194/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+270.7% since first listed

43 events — show timeline

• 2026-05-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-29 Listed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-28 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-08 Sold (Public Records) $157,500 Public Records
• 2023-02-23 Sold (MLS) $157,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-20 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-04 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-28 Coming Soon $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-14 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-31 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-04 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-08 Sold (Public Records) $65,000 Public Records
• 2012-01-27 Sold (MLS) $20,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-01-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-21 Listed $31,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-05 Listed $24,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-11 Sold (Public Records) $126,500 Public Records
• 2004-12-08 Sold (MLS) $126,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-19 Listed $128,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-12-18 Sold (Public Records) $35,000 Public Records
• 1997-10-28 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-09-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-08-20 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-11-06 Listed $48,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-28 Sold (MLS) $51,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-03-04 Listed $51,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-05-21 Sold (MLS) $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-01-21 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-8.9%/yr

Latest (2025): $2,632 · +106.7% YoY. Source: county tax records.