3243 Humboldt Ave N · Minneapolis, MN 55412

$185,000

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 17 Days on market

Built 1914 4,356 sqft lot $170/sqft · 13% above area Est $249k · 26% 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• 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

Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

Key facts

• Near parks
• Fully fenced yard
• Hardwood floors

Tags

• HARDWOOD FLOORS
• FULLY FENCED YARD
• NEAR PARKS
• QUICK ACCESS TO INTERSTATE 94

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 33% 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 $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 + 6.3% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 31y 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 $150k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1914 — 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: 1.02% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $248,655
• List price: $185,000
• Delta: -23.59%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2806 Penn Ave N	0.61mi	3/2.0	1,080 (-1%)	13mo	$214,500	$199	56
3123 Dupont Ave N	0.27mi	2/1.0 (-1)	1,200 (+10%)	19mo	$245,000	$204	49
3020 Queen Ave N	0.56mi	2/1.0 (-1)	956 (-12%)	15mo	$150,000	$157	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-8,742
• Equity at exit: $27,584

10-year hold

• IRR: 8.8%
• Equity multiple: 1.78×
• Total profit: $40,211
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,887 high
• Mortgage (P&I): −$970
• Tax from tax record: −$213 /mo · $2,558/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $230

Break-even live

Break-even rent $1,595

Max offer price $185,000

Occupancy floor 83%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	0.15mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	0.18mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	17d	1	0.27mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	0.34mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	14d	1	0.43mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	21d	1	0.49mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	24d	1	0.49mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	24d	1	0.55mi
414 N 33rd Ave Unit 2 Minneapolis, MN	2.0	1.0	1246	$1,600	$1.28	43d	1	0.60mi
3753 Girard Ave N Minneapolis, MN	1.0–2.0	1.0	687	$1,450	$2.11	17d	8	0.60mi
1315 N Dowling Ave Unit 308 Minneapolis, MN	2.0	1.0	800	$1,450	$1.81	21d	1	0.61mi
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	4d	1	0.61mi
3001 N 3rd St Apt 1 Minneapolis, MN	2.0	1.0	900	$1,250	$1.39	20d	1	0.75mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	43d	1	0.85mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	4d	1	0.85mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	44d	1	0.88mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	14d	3	0.89mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	21d	1	0.91mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	0.91mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	14d	1	0.94mi
4001 N Bryant Ave Unit 1 Minneapolis, MN	2.0	1.0	850	$1,295	$1.52	43d	1	0.94mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	2d	1	0.97mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	7d	4	0.98mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	43d	1	1.05mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	17d	1	1.07mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	3d	7	1.18mi
2652 Marshall St NE Minneapolis, MN	2.0	1.0	700	$1,199	$1.71	43d	1	1.23mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	43d	1	1.29mi
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	14d	1	1.31mi
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	20d	1	1.42mi
2035 W River Rd Minneapolis, MN	1.0–4.0	2.0	1034	$2,117	$2.05	4d	10	1.44mi
1429 Knox Ave N Unit 1429 Minneapolis, MN	4.0	1.0	1260	$1,995	$1.58	43d	1	1.46mi
1507 N Newton Ave Unit 2 Minneapolis, MN	4.0	1.0	1068	$1,499	$1.40	43d	1	1.47mi
1407 N Girard Ave Unit 2 Minneapolis, MN	2.0	1.0	1472	$1,900	$1.29	17d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $185,000 Active 17 DOM
2. 2026-06-17
   days on market $185,000 Active 16 DOM
3. 2026-06-16
   days on market $185,000 Active 15 DOM
4. 2026-06-15
   days on market $185,000 Active 14 DOM
5. 2026-06-13
   days on market $185,000 Active 12 DOM
6. 2026-06-09
   days on market $185,000 Active 8 DOM
7. 2026-06-08
   days on market $185,000 Active 7 DOM
8. 2026-06-07
   days on market $185,000 Active 6 DOM
9. 2026-06-04
   days on market $185,000 Active 3 DOM
10. 2026-06-03
    days on market $185,000 Active 2 DOM
11. 2026-06-02
    pricedays on marketlisting id $185,000 Active 1 DOM
12. 2026-06-01
    days on market $190,000 Active 73 DOM
13. 2026-05-31
    days on market $190,000 Active 72 DOM
14. 2026-05-08
    status Active 288-char remark

    Show marketing remark (288 chars)

    Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

15. 2026-05-03
    historical 288-char remark

    Show marketing remark (288 chars)

    Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

16. 2026-05-01
    status Active 288-char remark

    Show marketing remark (288 chars)

    Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

17. 2026-04-28
    historical 288-char remark

    Show marketing remark (288 chars)

    Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

18. 2026-03-11
    listed $190,000 Active 288-char remark

    Show marketing remark (288 chars)

    Charming home nestled in a quiet North Minneapolis neighborhood. This cozy property offers great potential for updates and personal touches. Conveniently located near parks with quick access to Interstate 94, making commuting easy. Wonderful opportunity for homeowners or investors alike!

19. 2023-02-09
    soldstatus $150,000
20. 2023-01-31
    soldstatus $150,000 Sold 217-char remark

    Show marketing remark (217 chars)

    Nice 3 Bedroom 1 Bath 1.5 Story close to schools, park and freeway. This home features hardwood floors, nice size kitchen, spacious upper level and a fenced in yard. Move in and enjoy! One year Home Warranty included!

21. 2022-12-30
    status Pending 217-char remark

    Show marketing remark (217 chars)

    Nice 3 Bedroom 1 Bath 1.5 Story close to schools, park and freeway. This home features hardwood floors, nice size kitchen, spacious upper level and a fenced in yard. Move in and enjoy! One year Home Warranty included!

22. 2022-12-28
    listed $155,000 Active 217-char remark

    Show marketing remark (217 chars)

    Nice 3 Bedroom 1 Bath 1.5 Story close to schools, park and freeway. This home features hardwood floors, nice size kitchen, spacious upper level and a fenced in yard. Move in and enjoy! One year Home Warranty included!

23. 2002-09-11
    soldstatus $122,600
24. 1996-07-24
    soldstatus $45,000
25. 1996-06-24
    soldstatus $45,000
26. 1996-05-10
    historical
27. 1996-01-23
    listed $47,900
28. 1996-01-19
    historical
29. 1995-11-15
    listed $53,900

ⓘ 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: $2,558 · $213/mo
• Projected year-2 tax: $2,558 · $213/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $22,639
• − Mortgage interest: −$10,363
• − Property taxes: −$2,558
• − Insurance: −$925
• − Repairs & maintenance: −$1,811
• − Management: −$1,811
• − Depreciation: −$5,382
• Taxable loss: −$211
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $2,810/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

+252.5% since first listed

16 events — show timeline

• 2026-05-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-11 Listed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-09 Sold (Public Records) $150,000 Public Records
• 2023-01-31 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-28 Listed $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-11 Sold (Public Records) $122,600 Public Records
• 1996-07-24 Sold (Public Records) $45,000 Public Records
• 1996-06-24 Sold (MLS) $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-01-23 Listed $47,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-01-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-11-15 Listed $53,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $2,558 · +16.2% YoY. Source: county tax records.