4023 14th Ave S Unit 5A · Minneapolis, MN 55407

$89,900

1 bd · 1.0 ba · 659 sqft · Condo public records · 99 Days on market

Built 1965 $136/sqft · 48% below area Est $173k · 48% under $426/mo HOA · 34% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• 1% rule +8.9/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pool side condo Move in ready! Unit has new carpet throughout and new stainless steel appliances. Nice clean 1br condo ready for your buyer. Quick closing is available.

Key facts

• New carpet
• $426 HOA
• Pool

Tags

• NEW CARPET
• NEW STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $-29 ($-349/yr) — negative.
• To cash-flow at today's rent, offer at most $85k (5.7% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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 (+4.3%/yr); 149 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 99 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.39% ✓
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 6.0

CMA / ARV

• ARV (median comp): $172,683
• List price: $89,900
• Delta: -47.94%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.42×
• Total profit: $-14,505
• Equity at exit: $13,404

10-year hold

• IRR: -3.8%
• Equity multiple: 0.72×
• Total profit: $-6,978
• Equity at exit: $7,773

Cash invested: $25,172 (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 55407

• Rents YoY: 4.3%
• Active inventory: 149
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$471
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$37
• HOA: −$426
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-29

Break-even live

Break-even rent $1,287

Max offer price $84,755

Occupancy floor 97%

Sensitivity live

Price	-10% $22	-5% $-4	+0% $-29	+5% $-55	+10% $-80
Rent	-10% $-128	-5% $-78	+0% $-29	+5% $20	+10% $70
Rate	-1.0pp $16	-0.5pp $-6	base $-29	+0.5pp $-52	+1.0pp $-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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4014 15th Ave S Unit 11B Minneapolis, MN	1.0	1.0	671	$1,475	$2.20	44d	1	0.00mi
4010 S 15th Ave Unit 8 Minneapolis, MN	1.0	1.0	680	$1,250	$1.84	15d	1	0.01mi
1818 E 41st St Minneapolis, MN	1.0	1.0	600	$975	$1.62	44d	1	0.32mi
4106 Chicago Ave Unit 7 Minneapolis, MN	1.0	1.0	640	$1,199	$1.87	4d	1	0.45mi
4112 Chicago Ave Minneapolis, MN	1.0	1.0	640	$1,099	$1.72	25d	1	0.45mi
4112 Chicago Ave Unit 8 Minneapolis, MN	1.0	1.0	640	$1,145	$1.79	44d	1	0.45mi
3705 Chicago Ave Unit 2 Minneapolis, MN	1.0	1.0	575	$1,000	$1.74	44d	1	0.57mi
3520 12th Ave S Minneapolis, MN	1.0–2.0	1.0	725	$1,100	$1.52	44d	1	0.62mi
3521 12th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	44d	1	0.63mi
3540 11th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	44d	1	0.63mi
3718 Oakland Ave Unit 2 Minneapolis, MN	2.0	1.0	700	$1,150	$1.64	25d	1	0.72mi
3421 15th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	44d	1	0.73mi
3400 10th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	44d	1	0.83mi
3806 24th Ave S Minneapolis, MN	2.0	1.0–2.0	772	$1,752	$2.27	4d	11	0.85mi
3251 14th Ave S Minneapolis, MN	1.0	1.0	600	$1,099	$1.83	15d	1	0.92mi
2504 E 42nd St Minneapolis, MN	2.0	1.0	666	$1,524	$2.29	25d	1	0.93mi
3806 28th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	820	$1,345	$1.64	24d	3	1.10mi
3117 15th Ave S Minneapolis, MN	1.0	1.0	650	$1,398	$2.15	17d	4	1.10mi
3100 Bloomington Ave Minneapolis, MN	1.0	1.0	507	$1,099	$2.17	44d	1	1.13mi
3215 21st Ave S Unit 3215201 Minneapolis, MN	1.0	1.0	550	$1,365	$2.48	25d	1	1.14mi
4200 1st Ave S Unit 9 Minneapolis, MN	1.0	1.0	750	$1,149	$1.53	25d	1	1.15mi
3503 2nd Ave S Minneapolis, MN	2.0	1.0	560	$1,388	$2.48	0d	5	1.16mi
4201 Nicollet Ave Minneapolis, MN	1.0	1.0	545	$1,555	$2.85	25d	1	1.17mi
4222 Nicollet Ave Minneapolis, MN	1.0–2.0	1.0–2.0	959	$1,210	$1.26	0d	8	1.22mi
3816 Nicollet Ave Minneapolis, MN	1.0	1.0	550	$1,062	$1.93	17d	2	1.22mi
3116 22nd Ave S Unit 4 Minneapolis, MN	1.0	1.0	585	$995	$1.70	0d	1	1.27mi
2944 17th Ave S Minneapolis, MN	1.0	1.0	488	$1,224	$2.51	4d	5	1.30mi
3815 Hiawatha Ave Minneapolis, MN	1.0	1.0	457	$1,527	$3.34	4d	8	1.30mi
3105 22nd Ave S Unit 4 Minneapolis, MN	1.0	1.0	557	$950	$1.71	44d	1	1.32mi
3105 22nd Ave S Unit 9 Minneapolis, MN	1.0	1.0	557	$975	$1.75	25d	1	1.32mi
811 E Lake St Unit 403 Minneapolis, MN	—	1.0	463	$965	$2.08	44d	1	1.32mi
3536 Nicollet Ave Minneapolis, MN	2.0	1.0–2.0	744	$1,883	$2.53	3d	12	1.32mi
3415 Nicollet Ave Minneapolis, MN	—	1.0	375	$800	$2.13	4d	1	1.37mi
3029 22nd Ave S Unit 425 Minneapolis, MN	—	1.0	438	$1,130	$2.58	24d	1	1.37mi
3029 22nd Ave S Unit 403 Minneapolis, MN	1.0	1.0	637	$1,229	$1.93	3d	1	1.37mi
3029 22nd Ave S Unit 209 Minneapolis, MN	—	1.0	467	$1,179	$2.52	25d	1	1.37mi
3029 22nd Ave S Unit 505 Minneapolis, MN	1.0	1.0	693	$1,249	$1.80	25d	1	1.37mi
3029 22nd Ave S Unit 217 Minneapolis, MN	—	1.0	438	$1,099	$2.51	3d	1	1.37mi
3029 22nd Ave S Unit 523 Minneapolis, MN	1.0	1.0	636	$1,349	$2.12	0d	1	1.37mi
3029 22nd Ave S Unit 417 Minneapolis, MN	1.0	1.0	636	$1,300	$2.04	3d	1	1.37mi

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $89,900 Active 99 DOM
2. 2026-06-17
   days on market $89,900 Active 98 DOM
3. 2026-06-16
   days on market $89,900 Active 97 DOM
4. 2026-06-15
   days on market $89,900 Active 96 DOM
5. 2026-06-13
   days on market $89,900 Active 94 DOM
6. 2026-06-09
   days on market $89,900 Active 90 DOM
7. 2026-06-08
   days on market $89,900 Active 89 DOM
8. 2026-06-07
   days on market $89,900 Active 88 DOM
9. 2026-06-04
   days on market $89,900 Active 85 DOM
10. 2026-06-03
    pricedays on market $89,900 Active 84 DOM
11. 2026-06-02
    days on market $94,500 Active 83 DOM
12. 2026-06-01
    days on market $94,500 Active 82 DOM
13. 2026-05-31
    days on market $94,500 Active 81 DOM
14. 2026-05-01
    status Active 169-char remark

    Show marketing remark (169 chars)

    Pool side condo Move in ready! Unit has new carpet throughout and new stainless steel appliances. Nice clean 1br condo ready for your buyer. Quick closing is available.

15. 2026-05-01
    price $94,500 169-char remark

    Show marketing remark (169 chars)

    Pool side condo Move in ready! Unit has new carpet throughout and new stainless steel appliances. Nice clean 1br condo ready for your buyer. Quick closing is available.

16. 2026-03-02
    listed $99,400 Active 169-char remark

    Show marketing remark (169 chars)

    Pool side condo Move in ready! Unit has new carpet throughout and new stainless steel appliances. Nice clean 1br condo ready for your buyer. Quick closing is available.

17. 2023-08-15
    soldstatus $107,000
18. 2023-04-24
    soldstatus $107,000 Sold 476-char remark

    Show marketing remark (476 chars)

    Affordable, clean 1 bedroom, 1 bath, poolside condo in Bush Terrace. This home has been well kept and freshly painted and is in overall nice shape! South facing with small patio overlooking the pool. The building has a common laundry room and also a community room. Estate sale, quick closing is possible, easy to show! Homeowners will need an HO6 insurance policy. Rentals are allowed, must be long term, no AirBnB. Association fee includes most of utilities except electric.

19. 2023-03-25
    status Pending 476-char remark

    Show marketing remark (476 chars)

    Affordable, clean 1 bedroom, 1 bath, poolside condo in Bush Terrace. This home has been well kept and freshly painted and is in overall nice shape! South facing with small patio overlooking the pool. The building has a common laundry room and also a community room. Estate sale, quick closing is possible, easy to show! Homeowners will need an HO6 insurance policy. Rentals are allowed, must be long term, no AirBnB. Association fee includes most of utilities except electric.

20. 2023-02-10
    listed $110,000 Active 476-char remark

    Show marketing remark (476 chars)

    Affordable, clean 1 bedroom, 1 bath, poolside condo in Bush Terrace. This home has been well kept and freshly painted and is in overall nice shape! South facing with small patio overlooking the pool. The building has a common laundry room and also a community room. Estate sale, quick closing is possible, easy to show! Homeowners will need an HO6 insurance policy. Rentals are allowed, must be long term, no AirBnB. Association fee includes most of utilities except electric.

21. 2023-02-03
    historical $110,000 476-char remark

    Show marketing remark (476 chars)

    Affordable, clean 1 bedroom, 1 bath, poolside condo in Bush Terrace. This home has been well kept and freshly painted and is in overall nice shape! South facing with small patio overlooking the pool. The building has a common laundry room and also a community room. Estate sale, quick closing is possible, easy to show! Homeowners will need an HO6 insurance policy. Rentals are allowed, must be long term, no AirBnB. Association fee includes most of utilities except electric.

22. 1994-07-14
    soldstatus $23,500
23. 1994-06-23
    soldstatus $23,500
24. 1994-04-27
    historical
25. 1994-04-15
    listed $24,900

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $993 · $83/mo
• Expected delta: +$14/yr (+$1/mo · 1.4%)

ⓘ 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 ≥100°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: $14,999
• − Mortgage interest: −$5,036
• − Property taxes: −$980
• − Insurance: −$450
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − HOA: −$5,112
• − Depreciation: −$2,615
• Taxable loss: −$1,593
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $33/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): 37,667
• Household income: $78,464
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1583.0

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 0.66)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 18% Two or more races 10% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 8% Romanian 3% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 20% Other Asian/Pacific 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: ▼ -211.97%
• Current HPI: 292.0322
• Rent YoY: ▲ 4.30%
• 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

+279.5% since first listed

12 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listed $99,400 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-15 Sold (Public Records) $107,000 Public Records
• 2023-04-24 Sold (MLS) $107,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-10 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-03 Coming Soon $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 1994-07-14 Sold (Public Records) $23,500 Public Records
• 1994-06-23 Sold (MLS) $23,500 NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-04-15 Listed $24,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $980 · -20.0% YoY. Source: county tax records.