2921 33rd Ave S · Minneapolis, MN 55406

$300,000

6 bd · 3.0 ba · 2,095 sqft · Other public records · 134 Days on market

Built 1900 6,969 sqft lot $143/sqft · 21% below area Est $362k · 17% under

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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 +15.9/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +4.9/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

Key facts

• Close to parks
• New furnace
• Convenient location

Tags

• RECENTLY RENOVATED
• NEW ROOF
• NEW FURNACE
• CONVENIENT LOCATION
• CLOSE TO PARKS
• CLOSE TO TRAILS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath other listed at $300k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/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 $299k (0.3% below list).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+3.0%/yr); 149 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 38% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 134 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 34y ago; this cycle's ask has dropped $70k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $151k; list at $300k implies a 99% 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 $264,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 8.4

CMA / ARV

• ARV (median comp): $362,498
• List price: $300,000
• Delta: -17.24%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-39,475
• Equity at exit: $44,731

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-22,315
• Equity at exit: $25,939

Cash invested: $84,000 (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 55406

• Rents YoY: 3.0%
• Active inventory: 149
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,991 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$523 /mo · $6,276/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $142

Break-even live

Break-even rent $2,812

Max offer price $300,000

Occupancy floor 90%

Sensitivity live

Price	-10% $312	-5% $227	+0% $142	+5% $57	+10% $-28
Rent	-10% $-94	-5% $24	+0% $142	+5% $260	+10% $378
Rate	-1.0pp $293	-0.5pp $218	base $142	+0.5pp $64	+1.0pp $-15

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3520 39th Ave S Minneapolis, MN	5.0	2.0	2100	$3,500	$1.67	44d	1	0.78mi
629 Oak St SE Minneapolis, MN	5.0	2.0	2679	$3,100	$1.16	14d	1	1.40mi
629 Oak St SE Minneapolis, MN	5.0	2.0	2679	$2,650	$0.99	44d	1	1.40mi
600 1/2 SE Oak St #1 Minneapolis, MN	5.0	2.0	2679	$3,100	$1.16	18d	1	1.47mi

Listing history 50 events

1. 2026-06-18
   days on market $300,000 Active 134 DOM
2. 2026-06-17
   days on market $300,000 Active 133 DOM
3. 2026-06-16
   days on market $300,000 Active 132 DOM
4. 2026-06-15
   days on market $300,000 Active 131 DOM
5. 2026-06-13
   days on market $300,000 Active 129 DOM
6. 2026-06-09
   days on market $300,000 Active 125 DOM
7. 2026-06-08
   days on market $300,000 Active 124 DOM
8. 2026-06-07
   days on market $300,000 Active 123 DOM
9. 2026-06-04
   days on market $300,000 Active 120 DOM
10. 2026-06-03
    days on market $300,000 Active 119 DOM
11. 2026-06-02
    days on market $300,000 Active 118 DOM
12. 2026-06-01
    days on market $300,000 Active 117 DOM
13. 2026-05-31
    days on market $300,000 Active 116 DOM
14. 2026-05-02
    status Active 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

15. 2026-05-02
    price $310,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

16. 2026-05-02
    historical 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

17. 2026-04-14
    status Active 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

18. 2026-04-14
    price $320,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

19. 2026-03-06
    price $330,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

20. 2026-02-10
    price $340,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

21. 2026-02-02
    price $350,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

22. 2026-01-20
    price $360,000 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

23. 2026-01-15
    listed $370,000 Active 453-char remark

    Show marketing remark (453 chars)

    Well-located Longfellow duplex with strong upside. Each unit offers 3 bedrooms, providing a rare and desirable layout for owner-occupants or investors. Lower unit features 3 bedrooms and 2 bathrooms and offers a value-add opportunity for a buyer looking to renovate and increase equity or rental income. Lower unit will need a full renovation. New roof, and a new furnace. Convenient location close to parks, trails, transit, and neighborhood amenities.

24. 2013-04-01
    soldstatus $151,000 195-char remark

    Show marketing remark (195 chars)

    Excellent opportunity awaits! 3 Bed, 1 Bath up and 3 Bed, 2 Bath down. Located in the perfect location off Lake Street/Hiawatha, Spacious rooms, close to restaurants, shopping and much much more!

25. 2013-03-07
    historical 195-char remark

    Show marketing remark (195 chars)

    Excellent opportunity awaits! 3 Bed, 1 Bath up and 3 Bed, 2 Bath down. Located in the perfect location off Lake Street/Hiawatha, Spacious rooms, close to restaurants, shopping and much much more!

26. 2012-11-14
    listed $154,900 195-char remark

    Show marketing remark (195 chars)

    Excellent opportunity awaits! 3 Bed, 1 Bath up and 3 Bed, 2 Bath down. Located in the perfect location off Lake Street/Hiawatha, Spacious rooms, close to restaurants, shopping and much much more!

27. 2007-05-17
    soldstatus $215,000
28. 2007-04-23
    soldstatus $215,000
29. 2007-03-07
    historical
30. 2006-12-21
    listed $224,900
31. 2006-12-18
    historical
32. 2006-11-14
    listed $224,900
33. 2006-10-24
    historical
34. 2006-09-18
    listed $224,900
35. 2006-09-05
    historical
36. 2006-05-02
    listed $234,900
37. 2005-01-11
    soldstatus $210,000
38. 2004-11-01
    soldstatus $210,000
39. 2004-09-27
    historical
40. 2004-08-02
    listed $219,900
41. 2004-05-24
    historical
42. 2004-04-20
    listed $249,900
43. 1996-06-20
    soldstatus $73,000
44. 1996-06-19
    soldstatus $82,000
45. 1995-08-28
    soldstatus $82,000
46. 1995-06-26
    historical
47. 1995-06-19
    listed $81,900
48. 1994-10-28
    soldstatus $73,000
49. 1994-09-27
    historical
50. 1994-08-25
    listed $74,500

ⓘ 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: $6,276 · $523/mo
• Projected year-2 tax: $6,276 · $523/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,894
• − Mortgage interest: −$16,805
• − Property taxes: −$6,276
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,871
• − Management: −$2,871
• − Depreciation: −$8,727
• Taxable loss: −$3,157
• Est. tax savings @ 24.0%: +$758
• After-tax cash flow: $2,459/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): 36,581
• Household income: $93,910
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1026.0

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 (70%)
• Race & ethnicity: White 70% Black 12% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Romanian 3% Lithuanian 3%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 4% 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: ▼ -397.38%
• Current HPI: 266.2546
• Rent YoY: ▲ 2.99%
• 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

+266.9% since first listed

43 events — show timeline

• 2026-05-02 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Price Changed $310,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $320,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-10 Price Changed $340,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-15 Listed $370,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-01 Sold (MLS) $151,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-03-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-14 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-17 Sold (Public Records) $215,000 Public Records
• 2007-04-23 Sold (MLS) $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-21 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-14 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-18 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-02 Listed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-11 Sold (Public Records) $210,000 Public Records
• 2004-11-01 Sold (MLS) $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-02 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-04-20 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-20 Sold (Public Records) $73,000 Public Records
• 1996-06-19 Sold (Public Records) $82,000 Public Records
• 1995-08-28 Sold (MLS) $82,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-06-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-06-19 Listed $81,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-28 Sold (MLS) $73,000 NORTHSTARMLS as Distributed by MLS Grid
• 1994-09-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-08-25 Listed $74,500 NORTHSTARMLS as Distributed by MLS Grid
• 1994-08-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-02-18 Listed $77,500 NORTHSTARMLS as Distributed by MLS Grid
• 1993-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-06-01 Listed $79,500 NORTHSTARMLS as Distributed by MLS Grid
• 1993-05-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-16 Listed $84,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2025): $6,276 · +17.1% YoY. Source: county tax records.