1720 69th Ave N

Brooklyn Center, MN 55430

$299,900D

3 bd · 1.5 ba · 1,984 sqft · Built 1967 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,465/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$424
• HOA: −$0
• Vac / Maint / Mgmt: −$518
• Net cashflow: $-49/mo
• Annual: $-592/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• 1% rule: 0.82%
• Cash to close: $83,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $-49 ($-592/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (17.8% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $246k (17.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#253 in MN) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: crime F, amenities 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: Evergreen Park Elementary-Stem (math 11% / reading 23%, grade F, #771 of 857 statewide, top 91%, 462 students, 83% FRL); Jackson Middle (math 39% / reading 51%, grade D, #113 of 258 statewide, top 45%, 1,981 students, 43% FRL); Champlin Park High School (math 48% / reading 63%, grade C, #80 of 471 statewide, top 17%, 2,983 students, 41% FRL) — zoned schools average 56% FRL vs 24% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 52% district-wide (-13 pts) — the specific schools serving this property underperform the Anoka-Hennepin Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 92 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 8y 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 $190k; list at $300k implies a 58% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 5.0% in Brooklyn Center — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 39% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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?
• 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.
• 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.