3700 Aldrich Ave N · Minneapolis, MN 55412

$250,000

4 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 1 Days on market

Built 1940 4,791 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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.9/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT HOME, NEW VINYL SIDING, NEW ROOF, REFINISHED HARDWOOD FLOORS, SECURITY SYSTEM, FINISHED LOWER LEVEL, FAMILY ROOM WITH FIREPLACE, LOTS OF STORAGE SPACE, CENTRAL AIR.

Key facts

• 4,791 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached garage (1 car) — approximately 12 x 20
• Utilities: City water connected; City sewer connected; 150 amp electric service; Natural gas
• Home design: Residential property; One and one-half story
• Construction: Block construction; Block foundation; Roof over 8 years old
• Exterior features: Metal and vinyl exterior; Chain-link and wood fencing; Corner lot (40 x 124)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms (some on main and upper levels)
• Bathrooms: 1 full bath (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Family room with fireplace; Eat-in kitchen; Full basement
• Laundry & utility: Washer; Dryer (laundry in basement)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/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 $248k (0.8% below list).
• Recommended offer: $248k (0.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 (+6.3%/yr); 169 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• This rent runs 43% of the median local income ($69k/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 $8k 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.
• 4 sale attempts since 34y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $175k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $248,023 (0.8% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-13,469
• Equity at exit: $37,276

10-year hold

• IRR: 8.2%
• Equity multiple: 1.71×
• Total profit: $49,958
• Equity at exit: $21,615

Cash invested: $70,000 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 169
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,480 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$255 /mo · $3,064/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $289

Break-even live

Break-even rent $2,115

Max offer price $250,000

Occupancy floor 83%

Sensitivity live

Price	-10% $430	-5% $360	+0% $289	+5% $218	+10% $147
Rent	-10% $93	-5% $191	+0% $289	+5% $387	+10% $485
Rate	-1.0pp $415	-0.5pp $352	base $289	+0.5pp $224	+1.0pp $158

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3522 Bryant Ave N Minneapolis, MN	5.0	2.0	1449	$2,995	$2.07	44d	1	0.20mi
3935 Fremont Ave N Minneapolis, MN	4.0	1.0	1900	$2,595	$1.37	44d	1	0.48mi
3342 Fremont Ave N Unit 2 Minneapolis, MN	4.0	2.0	2000	$2,200	$1.10	25d	1	0.50mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	44d	1	0.52mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	22d	1	0.52mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	25d	1	0.52mi
3238 Humboldt Ave N Minneapolis, MN	5.0	1.0	1389	$2,100	$1.51	44d	1	0.68mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	0.74mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	25d	1	0.77mi
2923 Girard Ave N Minneapolis, MN	5.0	2.0	1760	$2,795	$1.59	22d	1	0.90mi
2819 Girard Ave N Minneapolis, MN	5.0	2.0	1718	$2,300	$1.34	44d	1	0.97mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	0.98mi
2643 Lyndale Ave N Minneapolis, MN	4.0	2.0	2198	$750	$0.34	17d	1	1.01mi
2646 Dupont Ave N Unit 2 Minneapolis, MN	4.0	1.0	1514	$2,245	$1.48	44d	1	1.03mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	44d	1	1.04mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	4d	1	1.04mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	22d	1	1.07mi
233 26th Ave NE Minneapolis, MN	3.0	1.0	1153	$1,545	$1.34	44d	1	1.26mi
207 24th Ave NE Minneapolis, MN	3.0	3.0	1575	$2,995	$1.90	44d	1	1.32mi
1625 Marshall St NE Minneapolis, MN	5.0	3.0	1900	$3,495	$1.84	22d	1	1.48mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	1.48mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	22d	1	1.48mi
2522 5th St NE Minneapolis, MN	3.0	1.0	1200	$1,799	$1.50	44d	1	1.50mi

Listing history 13 events

1. 2026-04-27
   status Pending
2. 2026-04-27
   listed $250,000 Active
3. 2022-08-22
   soldstatus $175,000
4. 2003-07-31
   soldstatus $149,900
5. 2003-06-16
   soldstatus $149,900 170-char remark

   Show marketing remark (170 chars)

   GREAT HOME, NEW VINYL SIDING, NEW ROOF, REFINISHED HARDWOOD FLOORS, SECURITY SYSTEM, FINISHED LOWER LEVEL, FAMILY ROOM WITH FIREPLACE, LOTS OF STORAGE SPACE, CENTRAL AIR.

6. 2003-05-22
   historical 170-char remark

   Show marketing remark (170 chars)

   GREAT HOME, NEW VINYL SIDING, NEW ROOF, REFINISHED HARDWOOD FLOORS, SECURITY SYSTEM, FINISHED LOWER LEVEL, FAMILY ROOM WITH FIREPLACE, LOTS OF STORAGE SPACE, CENTRAL AIR.

7. 2003-04-24
   listed $153,900 170-char remark

   Show marketing remark (170 chars)

   GREAT HOME, NEW VINYL SIDING, NEW ROOF, REFINISHED HARDWOOD FLOORS, SECURITY SYSTEM, FINISHED LOWER LEVEL, FAMILY ROOM WITH FIREPLACE, LOTS OF STORAGE SPACE, CENTRAL AIR.

8. 2000-01-12
   soldstatus $90,000
9. 1999-12-30
   soldstatus $90,000
10. 1999-12-03
    historical
11. 1999-11-18
    listed $94,900
12. 1992-12-30
    historical
13. 1992-06-30
    listed $66,777

ⓘ 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: $3,064 · $255/mo
• Projected year-2 tax: $3,064 · $255/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: $29,763
• − Mortgage interest: −$14,004
• − Property taxes: −$3,064
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$7,273
• Taxable loss: −$590
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $3,608/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+274.4% since first listed

13 events — show timeline

• 2026-04-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-22 Sold (Public Records) $175,000 Public Records
• 2003-07-31 Sold (Public Records) $149,900 Public Records
• 2003-06-16 Sold (MLS) $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-24 Listed $153,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-01-12 Sold (Public Records) $90,000 Public Records
• 1999-12-30 Sold (MLS) $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-12-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-11-18 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-06-30 Listed $66,777 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $3,064 · +25.5% YoY. Source: county tax records.