3610 Logan Ave N · Minneapolis, MN 55412

$160,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 4 Days on market

Built 1924 5,227 sqft lot

---

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 +13.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• 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

Charming 2 bedroom, 1 bath in the Folwell neighborhood of North Minneapolis! Great value in this cozy home featuring refurnished hardwood floors, freshly painted walls, granite countertops and new appliances. Close to transit, shopping and much more. This is a must see! Listing agent is affiliated with the selling company, Realty Pros LLC. One or more members of Realty Pros LLC is a licensed salesperson in the state of Minnesota.

Key facts

• New appliances
• Close to transit
• Folwell neighborhood

Tags

• FOLWELL NEIGHBORHOOD
• REFURNISHED HARDWOOD FLOORS
• GRANITE COUNTERTOPS
• NEW APPLIANCES
• CLOSE TO TRANSIT
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $17 ($201/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 $146k (8.6% below list).
• Recommended offer: $146k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); 168 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $160k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,201 (8.6% below list)

Questions for the listing agent

1. Built in 1924 — 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: 0.91% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 9.1

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: -11.8%
• Equity multiple: 0.56×
• Total profit: $-19,725
• Equity at exit: $23,857

10-year hold

• IRR: 1.8%
• Equity multiple: 1.15×
• Total profit: $6,760
• Equity at exit: $13,834

Cash invested: $44,800 (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: 168
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,462 high
• Mortgage (P&I): −$839
• Tax from tax record: −$233 /mo · $2,790/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $17

Break-even live

Break-even rent $1,441

Max offer price $160,000

Occupancy floor 94%

Sensitivity live

Price	-10% $107	-5% $62	+0% $17	+5% $-29	+10% $-74
Rent	-10% $-99	-5% $-41	+0% $17	+5% $74	+10% $132
Rate	-1.0pp $97	-0.5pp $57	base $17	+0.5pp $-25	+1.0pp $-67

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3643 Penn Ave N Minneapolis, MN	1.0	1.0	900	$988	$1.10	44d	2	0.28mi
3753 Girard Ave N Minneapolis, MN	1.0–2.0	1.0	687	$1,450	$2.11	18d	8	0.34mi
1315 N Dowling Ave Unit 308 Minneapolis, MN	2.0	1.0	800	$1,450	$1.81	23d	1	0.37mi
1315 N Dowling Ave Unit 306 Minneapolis, MN	1.0	1.0	750	$1,250	$1.67	5d	1	0.37mi
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	5d	1	0.37mi
3342 N Humboldt Ave Unit 2 Minneapolis, MN	1.0	1.0	900	$1,395	$1.55	18d	1	0.41mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	18d	1	0.43mi
3322 Penn Ave N Minneapolis, MN	1.0	1.0	660	$1,350	$2.05	15d	1	0.44mi
3347 Emerson Ave N #2 Minneapolis, MN	1.0	1.0	746	$1,300	$1.74	3d	1	0.52mi
3230 N Penn Ave Unit 1 Minneapolis, MN	1.0	1.0	765	$895	$1.17	5d	1	0.52mi
3606 N Bryant Ave Unit 2 Minneapolis, MN	1.0	1.0	600	$1,250	$2.08	44d	1	0.62mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	0d	1	0.69mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	15d	1	0.69mi
4001 N Bryant Ave Unit 1 Minneapolis, MN	2.0	1.0	850	$1,295	$1.52	44d	1	0.75mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	44d	1	0.90mi
4055 Lyndale Ave N Minneapolis, MN	2.0	1.0	800	$1,075	$1.34	0d	1	0.91mi
4055 N Lyndale Ave Unit 1 Minneapolis, MN	1.0	1.0	650	$945	$1.45	44d	1	0.91mi
4253 Webber Pkwy Minneapolis, MN	1.0	1.0	700	$1,295	$1.85	25d	1	1.02mi
1709 N 26th Ave Unit 3 Minneapolis, MN	1.0	1.0	920	$1,250	$1.36	44d	1	1.05mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	0d	1	1.08mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	15d	3	1.13mi
3001 N 3rd St Apt 1 Minneapolis, MN	2.0	1.0	900	$1,250	$1.39	21d	1	1.17mi
3600 France Ave N Minneapolis, MN	1.0	1.0	619	$1,745	$2.82	0d	11	1.23mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	44d	1	1.27mi
3711 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0	675	$1,149	$1.70	25d	1	1.31mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	8d	4	1.34mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	15d	1	1.35mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	18d	1	1.36mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	3d	1	1.42mi
3737 Hubbard Ave N Unit 3737-204 Robbinsdale, MN	2.0	1.0	1000	$1,299	$1.30	5d	1	1.44mi
3737 Hubbard Ave N Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	17d	1	1.44mi
4638 Camden Ave N Unit 1 Minneapolis, MN	2.0	1.0	815	$1,495	$1.83	5d	1	1.47mi
4024 37th Ave N Unit 4024-204 Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	4d	1	1.47mi
4024 37th Ave N Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	5d	2	1.47mi
4028 37th Ave N Unit 4028-202 Minneapolis, MN	2.0	1.0	1000	$1,299	$1.30	17d	1	1.47mi

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-23
   listed $160,000 Active
3. 1996-02-21
   soldstatus $44,543

ⓘ 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: $2,790 · $233/mo
• Projected year-2 tax: $2,790 · $233/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 · 13 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: $17,544
• − Mortgage interest: −$8,962
• − Property taxes: −$2,790
• − Insurance: −$800
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$4,655
• Taxable loss: −$2,470
• Est. tax savings @ 24.0%: +$593
• After-tax cash flow: $794/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

+259.2% since first listed

3 events — show timeline

• 2026-04-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-02-21 Sold (Public Records) $44,543 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,790 · +32.8% YoY. Source: county tax records.