2631 Aldrich Ave S · Minneapolis, MN 55408

$109,250

1 bd · 1.0 ba · 944 sqft · SingleFamily public records · 57 Days on market

Built 1900 4,356 sqft lot $116/sqft · 50% below area

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A unique opportunity in the heart of Uptown. The location is a great canvas for the right owner. Please have your agent refer to the agent remarks and listing documents for more detailed instructions about writing an offer.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+4.8%/yr); 175 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $756 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $105,972 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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: 1.15% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (median comp): $264,468
• List price: $109,250
• Delta: -58.69%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,420
• Equity at exit: $16,290

10-year hold

• IRR: 9.5%
• Equity multiple: 1.80×
• Total profit: $24,407
• Equity at exit: $9,446

Cash invested: $30,590 (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 55408

• Rents YoY: 4.8%
• Active inventory: 175
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$573
• Tax from tax record: −$167 /mo · $2,003/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $204

Break-even live

Break-even rent $994

Max offer price $109,250

Occupancy floor 79%

Sensitivity live

Price	-10% $266	-5% $235	+0% $204	+5% $173	+10% $142
Rent	-10% $105	-5% $154	+0% $204	+5% $253	+10% $303
Rate	-1.0pp $259	-0.5pp $232	base $204	+0.5pp $175	+1.0pp $147

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: $27,312
• Closing costs: $3,278
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 Lyndale Ave S Minneapolis, MN	—	1.0	550	$1,650	$3.00	44d	1	0.07mi
2552 Garfield Ave Minneapolis, MN	1.0	1.0	463	$1,000	$2.16	17d	3	0.11mi
2641 Garfield Ave Unit 106 Minneapolis, MN	1.0	1.0	550	$965	$1.75	44d	1	0.13mi
2641 Garfield Ave Unit 101 Minneapolis, MN	2.0	1.0	750	$1,095	$1.46	44d	1	0.13mi
2655 Colfax Ave S Unit 301 Minneapolis, MN	2.0	1.0	800	$1,360	$1.70	18d	1	0.15mi
2600 Colfax Ave S Unit 3 Minneapolis, MN	2.0	1.0	1100	$2,100	$1.91	44d	1	0.16mi
900 W 25th St Unit 03 Minneapolis, MN	1.0	1.0	700	$1,099	$1.57	44d	1	0.20mi
900 W 25th St Unit 04 Minneapolis, MN	2.0	1.0	1000	$1,249	$1.25	44d	1	0.20mi
2500 Colfax Ave S Minneapolis, MN	1.0	1.0	675	$1,275	$1.89	14d	2	0.21mi
607 W 28th St Minneapolis, MN	2.0	1.0–2.0	621	$1,514	$2.44	3d	14	0.24mi
2841 Bryant Ave S Minneapolis, MN	2.0	1.0–2.0	835	$1,900	$2.27	2d	23	0.27mi
2813 Garfield Ave Apt 2815-1 Minneapolis, MN	2.0	1.0	650	$1,950	$3.00	8d	1	0.28mi
2833 Lyndale Ave S Minneapolis, MN	2.0	1.0–2.0	818	$1,782	$2.18	18d	6	0.30mi
2324 Bryant Ave S Apt 202 Minneapolis, MN	2.0	1.0	700	$1,265	$1.81	44d	1	0.31mi
2420 Dupont Ave S Unit 302 Minneapolis, MN	1.0	1.0	700	$1,025	$1.46	44d	1	0.31mi
2420 Dupont Ave S Unit 106 Minneapolis, MN	1.0	1.0	659	$975	$1.48	14d	1	0.31mi
2611 Pleasant Ave Minneapolis, MN	2.0	1.0	650	$1,190	$1.83	3d	37	0.32mi
2800 Grand Ave S Minneapolis, MN	1.0–2.0	1.0	692	$975	$1.41	4d	4	0.33mi
2740 Pleasant Ave Minneapolis, MN	1.0–2.0	1.0	645	$1,145	$1.78	3d	3	0.33mi
1006 W 24th St Minneapolis, MN	1.0	1.0	566	$1,395	$2.46	8d	1	0.34mi
2626 Fremont Ave S Unit 104 Minneapolis, MN	2.0	1.0	800	$1,199	$1.50	44d	1	0.34mi
2636 Fremont Ave S Unit 105 Minneapolis, MN	1.0	1.0	575	$999	$1.74	44d	1	0.35mi
2725 Pleasant Ave Unit 101 Minneapolis, MN	1.0	1.0	700	$1,100	$1.57	4d	1	0.35mi
2300 Aldrich Ave S Unit 4 Minneapolis, MN	2.0	1.0	800	$1,225	$1.53	44d	1	0.35mi
2300 Aldrich Ave S Unit 19 Minneapolis, MN	1.0	1.0	560	$1,005	$1.79	14d	1	0.35mi
2310 Harriet Ave Unit B3 Minneapolis, MN	1.0	1.0	575	$950	$1.65	44d	1	0.36mi
2310 Harriet Ave Unit 305 Minneapolis, MN	1.0	1.0	575	$1,009	$1.75	44d	1	0.36mi
2636 Pillsbury Ave S Minneapolis, MN	3.0	1.0	560	$963	$1.72	3d	1	0.36mi
2226 Garfield Ave Unit 103 Minneapolis, MN	1.0	1.0	575	$1,005	$1.75	8d	1	0.36mi
2226 Garfield Ave Unit B1 Minneapolis, MN	1.0	1.0	575	$965	$1.68	8d	1	0.36mi
2226 Garfield Ave Unit 301 Minneapolis, MN	1.0	1.0	575	$1,075	$1.87	8d	1	0.36mi
2300 Harriet Ave Minneapolis, MN	1.0	1.0	560	$1,025	$1.83	4d	1	0.37mi
2609 Hennepin Ave Minneapolis, MN	1.0	1.0	750	$1,174	$1.57	3d	2	0.37mi
2219 Garfield Ave Unit 101 Minneapolis, MN	1.0	1.0	630	$975	$1.55	24d	1	0.38mi
2508 Pillsbury Ave S Minneapolis, MN	1.0	1.0	535	$1,110	$2.07	17d	2	0.38mi
2222 Harriet Ave Unit 203 Minneapolis, MN	1.0	1.0	600	$1,025	$1.71	44d	1	0.38mi
2908 Bryant Ave S Minneapolis, MN	1.0	1.0	600	$1,319	$2.20	2d	11	0.38mi
2908 Bryant Ave S Minneapolis, MN	1.0	1.0	575	$1,309	$2.28	44d	1	0.38mi
2216 Harriet Ave Unit 102 Minneapolis, MN	1.0	1.0	560	$895	$1.60	3d	1	0.39mi
2211 Colfax Ave S Minneapolis, MN	1.0	1.0	640	$999	$1.56	44d	1	0.40mi

Listing history 14 events

1. 2026-06-18
   days on market $109,250 Active 57 DOM
2. 2026-06-17
   days on market $109,250 Active 56 DOM
3. 2026-06-16
   days on market $109,250 Active 55 DOM
4. 2026-06-15
   days on market $109,250 Active 54 DOM
5. 2026-06-13
   days on market $109,250 Active 52 DOM
6. 2026-06-09
   days on market $109,250 Active 48 DOM
7. 2026-06-08
   days on market $109,250 Active 47 DOM
8. 2026-06-07
   days on market $109,250 Active 46 DOM
9. 2026-06-04
   pricedays on market $109,250 Active 43 DOM
10. 2026-06-03
    days on market $115,000 Active 42 DOM
11. 2026-06-02
    days on market $115,000 Active 41 DOM
12. 2026-06-01
    days on market $115,000 Active 40 DOM
13. 2026-05-31
    days on market $115,000 Active 39 DOM
14. 2026-04-22
    listed $115,000 Active 223-char remark

    Show marketing remark (223 chars)

    A unique opportunity in the heart of Uptown. The location is a great canvas for the right owner. Please have your agent refer to the agent remarks and listing documents for more detailed instructions about writing 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: $2,003 · $167/mo
• Projected year-2 tax: $2,003 · $167/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: $15,024
• − Mortgage interest: −$6,120
• − Property taxes: −$2,003
• − Insurance: −$546
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$3,178
• Taxable income: $773
• Est. tax owed @ 24.0%: −$186
• After-tax cash flow: $2,259/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): 31,507
• Household income: $70,326
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 2619.0

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 0.60)
• Race & ethnicity: White 59% Black 17% Hispanic / Latino 11% Two or more races 9% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 8% Romanian 6% Lithuanian 3%
• Foreign-born: 15% · Canada, South Korea, Vietnam
• Languages at home: 79% English-only · Spanish 8% Other Indo-European 1% 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: ▼ -148.08%
• Current HPI: 256.0491
• Rent YoY: ▲ 4.77%
• 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

1 event — show timeline

• 2026-04-22 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-1.4%/yr

Latest (2025): $2,003 · -32.8% YoY. Source: county tax records.