890 26th Ave SE · Minneapolis, MN 55414

$199,900

3 bd · 1.5 ba · 1,744 sqft · SingleFamily public records · 3 Days on market

Built 1915 5,080 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 +6.8/10.0
• 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

Key facts

• 5,080 sq ft lot
• 2 garage spots
• Built 1915

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: City water (connected); City sewer (connected); Electric: fuses; Natural gas
• Home design: Residential property; One and one-half story; Entry and living areas on the main level
• Construction: Asphalt roof (8 years old or newer); Foundation: Other
• Exterior features: Stucco exterior; Irregular lot frontage on a city street

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the upper level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main floor)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Hardwood floors; Natural woodwork; Living/Dining room layout; Full unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• 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 (+5.0%/yr); 88 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $2,349/mo this rent would consume 54% of the median local household income ($52k/yr) (locally 3687% 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 + 5.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1915 — 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: 1.18% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.98% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $2,475
• Equity at exit: $29,806

10-year hold

• IRR: 12.7%
• Equity multiple: 2.10×
• Total profit: $61,400
• 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 55414

• Rents YoY: 5.0%
• Active inventory: 88
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$252 /mo · $3,025/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $472

Break-even live

Break-even rent $1,751

Max offer price $199,900

Occupancy floor 75%

Sensitivity live

Price	-10% $585	-5% $529	+0% $472	+5% $415	+10% $359
Rent	-10% $286	-5% $379	+0% $472	+5% $565	+10% $658
Rate	-1.0pp $573	-0.5pp $523	base $472	+0.5pp $420	+1.0pp $367

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 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 26th Ave SE Minneapolis, MN	4.0	2.0	1534	$2,750	$1.79	11d	1	0.05mi
1027 27th Ave SE Minneapolis, MN	4.0	3.0	2049	$1,550	$0.76	44d	1	0.13mi
1035 20th Ave SE Minneapolis, MN	4.0	1.0	1500	$2,650	$1.77	0d	1	0.43mi
1801 Talmage Ave SE Minneapolis, MN	4.0–5.0	2.0	1800	$2,695	$1.50	0d	2	0.55mi
924 17th Ave SE Minneapolis, MN	2.0–4.0	1.0–2.0	1100	$2,000	$1.82	44d	1	0.62mi
1010 16th Ave SE Minneapolis, MN	3.0	2.0	1172	$1,575	$1.34	0d	1	0.65mi
1008 16th Ave SE Minneapolis, MN	3.0	2.0	1172	$1,680	$1.43	0d	1	0.65mi
1410 Rollins Ave SE Minneapolis, MN	2.0–3.0	1.0	1200	$2,400	$2.00	44d	1	0.76mi
1220 Brook Ave SE Minneapolis, MN	3.0	1.0–3.0	807	$2,362	$2.93	0d	33	0.87mi
815 13th Ave SE Minneapolis, MN	1.0–4.0	1.0–2.0	1171	$2,017	$1.72	44d	46	0.90mi
1811 Carl St Saint Paul, MN	2.0	1.0	1450	$2,150	$1.48	19d	1	0.93mi
1117 SE 8th St Unit 001 Minneapolis, MN	4.0	2.0	1800	$2,200	$1.22	4d	1	0.98mi
425 13th Ave SE Minneapolis, MN	1.0–4.0	1.0–2.0	827	$1,900	$2.30	0d	35	1.08mi
612 11th Ave SE Minneapolis, MN	4.0	2.0	1577	$2,800	$1.78	21d	1	1.08mi
902 SE 9th Ave Unit 902 Minneapolis, MN	3.0	1.0	1100	$1,800	$1.64	44d	1	1.11mi
721 10th Ave SE Unit B Minneapolis, MN	3.0	1.0	1100	$1,850	$1.68	25d	1	1.12mi
1215 4th St SE Unit 1 Minneapolis, MN	3.0	1.0	1050	$1,600	$1.52	44d	1	1.13mi
815 SE 9th St Minneapolis, MN	1.0–4.0	1.0–4.0	1149	$2,542	$2.21	0d	12	1.20mi
1000 University Ave SE Minneapolis, MN	2.0–4.0	1.0–2.0	1136	$2,465	$2.17	25d	9	1.33mi
621 6th St SE Minneapolis, MN	4.0	2.0	2000	$4,000	$2.00	15d	1	1.38mi
621 6th St SE Unit 1 Minneapolis, MN	2.0	1.0	1100	$2,000	$1.82	44d	1	1.38mi
621 6th St SE Unit 2 Minneapolis, MN	2.0	1.0	1100	$2,000	$1.82	44d	1	1.38mi
711 4th St SE Minneapolis, MN	4.0	1.0–2.0	1667	$2,625	$1.57	44d	51	1.39mi
414 7th Ave SE Minneapolis, MN	2.0	1.0	1056	$1,400	$1.33	15d	24	1.43mi
626 NE Taylor St Unit 1 Minneapolis, MN	3.0	1.0	1250	$1,875	$1.50	44d	1	1.50mi

Listing history 2 events

1. 2026-06-08
   status $199,900 Pending 3 DOM
2. 2026-06-07
   listed $199,900 Active 3 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: $3,025 · $252/mo
• Projected year-2 tax: $3,025 · $252/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 5/10 Major FEMA zone X (unshaded) · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $28,186
• − Mortgage interest: −$11,198
• − Property taxes: −$3,025
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$5,815
• Taxable income: $2,640
• Est. tax owed @ 24.0%: −$633
• After-tax cash flow: $5,030/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): 35,007
• Household income: $51,966
• Rent vs Own: 84.9% rent · 15.1% own
• Severe rent burden: 3687.0

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 (66%)
• Race & ethnicity: White 66% Asian 12% Two or more races 9% Black 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 8% Romanian 4% Lithuanian 2%
• Foreign-born: 16% · China, Canada, South Korea
• Languages at home: 79% English-only · Chinese 5% Spanish 3% Other Asian/Pacific 3%

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: ▼ -130.69%
• Current HPI: 202.7105
• Rent YoY: ▲ 4.98%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-05 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-04 Coming Soon $199,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $3,025 · -3.0% YoY. Source: county tax records.