2414 N 4th St · Minneapolis, MN 55411

$199,900

4 bd · 1.0 ba · 1,291 sqft · SingleFamily public records · 34 Days on market

Built 1900 6,534 sqft lot

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Estate sale home that needs lots of work. Home has 4 beds, 1 bath, 2 car garage with partial fenced in yard. Come bring your ideas, hammer and lots of cash. As-Is sale, seller will do NO work to house. Both agent and buyer must view home if going to write an offer.

Key facts

• Tall ceilings
• Eat in kitchen
• Spacious rooms

Tags

• TALL CEILINGS
• SPACIOUS ROOMS
• EAT IN KITCHEN
• COZY FRONT PORCH
• TWO-CAR GARAGE
• MUDROOM

Property features AI

Finance

• Other: Above-grade finished living area and additional below-grade finished area
• Financial info: Free and clear mortgage status
• HOA & community: No association (N/A)

Exterior

• Parking: 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One and one-half stories; Brick/mortar foundation
• Construction: Asphalt roof; Brick/mortar foundation; Below-grade finished area and usable basement/storage
• Exterior features: Wood exterior; Light tree coverage; Wire fencing; Porch

Interior

• Kitchen: Eat-in kitchen / kitchen-dining room layout; Range; Refrigerator; Garbage disposal
• Bedrooms: 4 bedrooms total; Main floor bedroom; Upper-level bedrooms
• Flooring: Hardwood floors
• Bathrooms: Main floor 3/4 bath; Upper-level full bath
• Heating & cooling: Baseboard heating; Hot water heating; Wall and window cooling units
• Interior features: Hardwood floors; Vaulted ceilings; Natural woodwork; Kitchen window; Washer/dryer hookup; Full basement with partial finish and storage space
• Laundry & utility: Laundry in basement; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $2,264/mo this rent would consume 45% of the median local household income ($60k/yr) (locally 1826% 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 $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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $200k implies a 589% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1900 — 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. 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?
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: 1.13% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.6%
• Equity multiple: 1.15×
• Total profit: $8,209
• Equity at exit: $29,806

10-year hold

• IRR: 16.8%
• Equity multiple: 2.65×
• Total profit: $92,532
• Equity at exit: $17,284

Cash invested: $55,972 (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: 133
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $475

Break-even live

Break-even rent $1,663

Max offer price $199,900

Occupancy floor 74%

Sensitivity live

Price	-10% $588	-5% $532	+0% $475	+5% $419	+10% $362
Rent	-10% $296	-5% $386	+0% $475	+5% $565	+10% $654
Rate	-1.0pp $576	-0.5pp $526	base $475	+0.5pp $423	+1.0pp $371

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	44d	1	0.23mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	5d	1	0.23mi
2646 Dupont Ave N Unit 2 Minneapolis, MN	4.0	1.0	1514	$2,245	$1.48	44d	1	0.45mi
2035 W River Rd Minneapolis, MN	1.0–4.0	2.0	1034	$2,503	$2.42	0d	12	0.45mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	0d	1	0.48mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	25d	1	0.66mi
1428 Marshall St NE Minneapolis, MN	3.0	2.5	1800	$3,300	$1.83	0d	1	0.68mi
2819 Girard Ave N Minneapolis, MN	5.0	2.0	1718	$2,300	$1.34	44d	1	0.69mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	22d	1	0.71mi
2923 Girard Ave N Minneapolis, MN	5.0	2.0	1760	$2,795	$1.59	22d	1	0.74mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	22d	1	0.74mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	5d	1	0.74mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	44d	1	0.74mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	22d	1	0.74mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	25d	1	0.74mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	15d	1	0.75mi
1312 18th Ave N Minneapolis, MN	3.0	1.0	1520	$1,899	$1.25	8d	1	0.77mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	25d	1	0.83mi
1705 2nd St NE Minneapolis, MN	4.0	3.0	1600	$2,795	$1.75	3d	1	0.94mi
3238 Humboldt Ave N Minneapolis, MN	5.0	1.0	1389	$2,100	$1.51	44d	1	0.96mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	45d	1	0.96mi
3522 Bryant Ave N Minneapolis, MN	5.0	2.0	1449	$2,995	$2.07	44d	1	1.09mi
1429 Knox Ave N Unit 1429 Minneapolis, MN	4.0	1.0	1260	$1,995	$1.58	44d	1	1.09mi
207 24th Ave NE Minneapolis, MN	3.0	3.0	1575	$2,995	$1.90	44d	1	1.11mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	5d	1	1.11mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	15d	1	1.12mi
912 4th St NE Minneapolis, MN	3.0	1.0	1144	$2,150	$1.88	15d	1	1.18mi
721 N 3rd St Minneapolis, MN	3.0	1.0–2.0	972	$4,630	$4.76	0d	12	1.19mi
1507 N Newton Ave Unit 2 Minneapolis, MN	4.0	1.0	1068	$1,499	$1.40	44d	1	1.22mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	18d	1	1.22mi
1237 Knox Ave N Unit 1237 Minneapolis, MN	3.0	1.0	1196	$1,900	$1.59	5d	1	1.24mi
233 26th Ave NE Minneapolis, MN	3.0	1.0	1153	$1,545	$1.34	44d	1	1.25mi
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	15d	1	1.34mi
1030 Knox Ave N Apt 3 Minneapolis, MN	5.0	1.5	1500	$2,450	$1.63	44d	1	1.34mi
1030 Knox Ave N Apt 2 Minneapolis, MN	4.0	1.0	900	$2,099	$2.33	44d	1	1.34mi
1504 Queen Ave N Minneapolis, MN	3.0	1.5	1746	$2,800	$1.60	0d	1	1.36mi
1504 Queen Ave N Minneapolis, MN	3.0	1.5	1746	$2,800	$1.60	2d	1	1.36mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	44d	1	1.37mi
2522 5th St NE Minneapolis, MN	3.0	1.0	1200	$1,799	$1.50	44d	1	1.37mi
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	0d	1	1.38mi

Listing history 19 events

1. 2026-06-21
   days on market $199,900 Active 34 DOM
2. 2026-06-18
   days on market $199,900 Active 31 DOM
3. 2026-06-17
   days on market $199,900 Active 30 DOM
4. 2026-06-16
   days on market $199,900 Active 29 DOM
5. 2026-06-15
   days on market $199,900 Active 28 DOM
6. 2026-06-13
   days on market $199,900 Active 26 DOM
7. 2026-06-09
   days on market $199,900 Active 22 DOM
8. 2026-06-08
   days on market $199,900 Active 21 DOM
9. 2026-06-07
   days on market $199,900 Active 20 DOM
10. 2026-06-04
    days on market $199,900 Active 17 DOM
11. 2026-06-03
    days on market $199,900 Active 16 DOM
12. 2026-06-02
    days on market $199,900 Active 15 DOM
13. 2026-06-01
    days on market $199,900 Active 14 DOM
14. 2026-05-31
    days on market $199,900 Active 13 DOM
15. 2026-05-18
    listed $215,000 Active
16. 2015-12-07
    soldstatus $29,000 Sold 265-char remark

    Show marketing remark (265 chars)

    Estate sale home that needs lots of work. Home has 4 beds, 1 bath, 2 car garage with partial fenced in yard. Come bring your ideas, hammer and lots of cash. As-Is sale, seller will do NO work to house. Both agent and buyer must view home if going to write an offer.

17. 2015-11-23
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Estate sale home that needs lots of work. Home has 4 beds, 1 bath, 2 car garage with partial fenced in yard. Come bring your ideas, hammer and lots of cash. As-Is sale, seller will do NO work to house. Both agent and buyer must view home if going to write an offer.

18. 2015-11-11
    historical Contingent - Other 265-char remark

    Show marketing remark (265 chars)

    Estate sale home that needs lots of work. Home has 4 beds, 1 bath, 2 car garage with partial fenced in yard. Come bring your ideas, hammer and lots of cash. As-Is sale, seller will do NO work to house. Both agent and buyer must view home if going to write an offer.

19. 2015-11-06
    listed $29,000 Active 265-char remark

    Show marketing remark (265 chars)

    Estate sale home that needs lots of work. Home has 4 beds, 1 bath, 2 car garage with partial fenced in yard. Come bring your ideas, hammer and lots of cash. As-Is sale, seller will do NO work to house. Both agent and buyer must view home if going to write an offer.

ⓘ 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: $2,186 · $182/mo
• Projected year-2 tax: $2,213 · $184/mo
• Expected delta: +$26/yr (+$2/mo · 1.2%)

ⓘ 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: $27,174
• − Mortgage interest: −$11,198
• − Property taxes: −$2,186
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,174
• − Management: −$2,174
• − Depreciation: −$5,815
• Taxable income: $2,628
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $5,071/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

+641.4% since first listed

5 events — show timeline

• 2026-05-18 Listed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-12-07 Sold (MLS) $29,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-06 Listed $29,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $2,186 · +5.3% YoY. Source: county tax records.