5825 45th Ave S · Minneapolis, MN 55417

$299,900

3 bd · 1.0 ba · 1,842 sqft · SingleFamily public records · 1 Days on market

Built 1950 5,227 sqft lot

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Why this score? — see what drove the D 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 +13.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Move right into this beautifully updated 3-bedroom, 2-bath home featuring a spacious 2-car garage and numerous recent improvements. Enjoy peace of mind with a newer furnace and central air conditioner. The bright, freshly painted interior is complemented by stainless steel appliances and tasteful updates throughout. The finished lower level offers a large family room with an egress window, providing additional living space and flexibility for recreation, work, or guests. Situated in a desirable neighborhood, this well-maintained home combines comfort, convenience, and value. Don't miss this fantastic opportunity!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Detached or attached 2-car garage with concrete surface
• Utilities: City water (connected); City sewer (connected); 100 amp electrical service; Natural gas
• Home design: Residential property; One and one-half levels; Block foundation
• Construction: Asphalt roof; Block foundation; Foundation area approximately 924
• Exterior features: Vinyl exterior; Chain link fencing; Storage shed on property; Lot dimensions approximately 40 x 128

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (one located on the upper level; two on the main level)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level; One three-quarter bathroom on the lower level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Kitchen window; Stainless steel appliances; Storage space; Egress windows in basement; Partially finished and finished basement areas
• Laundry & utility: Washer and dryer included; Laundry in basement with utility sink; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $2 ($23/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 $264k (12.1% below list).
• Recommended offer: $264k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 soft (-2.0%/yr); 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $263,531 (12.1% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.33×
• Total profit: $-56,154
• Equity at exit: $44,716

10-year hold

• IRR: -20.7%
• Equity multiple: 0.07×
• Total profit: $-78,407
• Equity at exit: $25,930

Cash invested: $83,972 (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 55417

• Rents YoY: -2.0%
• Active inventory: 136
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,635 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$382 /mo · $4,588/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $2

Break-even live

Break-even rent $2,633

Max offer price $299,900

Occupancy floor 95%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5122 36th Ave S Minneapolis, MN	4.0	2.5	1900	$2,872	$1.51	12d	1	1.06mi
3225 E Minnehaha Pkwy Unit 3225-101A Minneapolis, MN	2.0	2.0	1565	$2,550	$1.63	24d	1	1.50mi

Listing history 6 events

1. 2026-06-19
   statusdays on market $299,900 Active 1 DOM
2. 2026-06-18
   days on market $299,900 Coming Soon 4 DOM
3. 2026-06-17
   days on market $299,900 Coming Soon 3 DOM
4. 2026-06-16
   days on market $299,900 Coming Soon 2 DOM
5. 2026-06-15
   remarks 620-char remark
6. 2026-06-15
   listed $299,900 Coming Soon 1 DOM

ⓘ 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: $4,588 · $382/mo
• Projected year-2 tax: $4,588 · $382/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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,624
• − Mortgage interest: −$16,799
• − Property taxes: −$4,588
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,530
• − Management: −$2,530
• − Depreciation: −$8,724
• Taxable loss: −$5,047
• Est. tax savings @ 24.0%: +$1,211
• After-tax cash flow: $1,234/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): 25,102
• Household income: $126,261
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 265.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 15% Romanian 4% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea, Jamaica
• Languages at home: 90% English-only · Spanish 8% 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: ▼ -409.70%
• Current HPI: 259.9141
• Rent YoY: ▼ -1.97%
• 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

+344.3% since first listed

3 events — show timeline

• 2026-06-14 Coming Soon $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-10-01 Listed $67,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $4,588 · +15.0% YoY. Source: county tax records.