8218 Nicollet Ave S · Bloomington, MN 55420

$195,000

2 bd · 1.0 ba · 1,581 sqft · SingleFamily public records · 2 Days on market

Built 1946 7,405 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming estate home is waiting for a new owner to make this home shine again. Fantastic opportunity for an investor to rehab/renovate. House has a great layout with hardwood flooring in the bedrooms and under the living room carpeting. Full basement is ready for instant equity by finishing that space. Phenomenal location with an attached 2 car garage with storage area above it. Spacious home offers great opportunity for those who enjoy making older homes beautiful again. Home is sold As-Is, with sellers preferring a cash offer. Buyers to assume city of Bloomington required repairs. Buyers and buyer's agents to confirm all information. Sellers plan to start reviewing any offers on Tuesday,

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1946

Property features AI

Finance

• Financial info: Free and clear mortgage status

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers (Xcel Energy)
• Home design: Residential property; One-story; Main level entry
• Construction: Frame construction; Age over 8 years roof; Concrete perimeter foundation
• Exterior features: Partial fencing; Tree coverage - medium; City street frontage; Publicly maintained road

Interior

• Kitchen: Kitchen window; Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Natural woodwork; Main floor primary bedroom; Eat-in kitchen; Main floor full bath; Full, unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included; Washer/Dryer hookup on main level; Basement laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.0% vs local median 3.5% in Bloomington — 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 76/100 on livability (#168 in MN, #3,640 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D-, amenities F, health & safety F.
• Bloomington Public School District (urban): math 35% / reading 49% proficiency, ranked #192 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,000

Questions for the listing agent

1. Built in 1946 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is D 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?
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: 1.05% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-14,023
• Equity at exit: $29,075

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $10,484
• Equity at exit: $16,860

Cash invested: $54,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55420

• Active inventory: 74
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$231 /mo · $2,774/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $276

Break-even live

Break-even rent $1,690

Max offer price $195,000

Occupancy floor 81%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 W 86th St Minneapolis, MN	3.0	2.0	1860	$2,700	$1.45	2d	1	0.86mi
1021 W 86th St Minneapolis, MN	3.0	2.0	1860	$2,700	$1.45	5d	1	0.86mi
8200 Humboldt Ave S Minneapolis, MN	3.0	1.0–2.0	906	$2,422	$2.67	2d	27	1.00mi
7305 3rd Ave S Minneapolis, MN	3.0	1.0	1562	$2,550	$1.63	4d	1	1.12mi
7241 Harriet Ave Minneapolis, MN	3.0	2.0	1468	$1,300	$0.89	22d	1	1.16mi
1901 W 80th 1/2 St Minneapolis, MN	2.0	1.0–2.0	805	$2,215	$2.75	2d	21	1.24mi
602 E 73rd St Richfield, MN	3.0	1.5	1623	$2,350	$1.45	4d	1	1.25mi
8162 Bloomington Ave Minneapolis, MN	2.0–3.0	1.5	1095	$1,815	$1.66	2d	9	1.26mi
7611 Knox Ave S Richfield, MN	3.0	1.0–1.5	897	$1,660	$1.85	2d	1	1.27mi
7962 Bloomington Ave S Unit 7962 Bloomington, MN	3.0	1.5	1200	$1,800	$1.50	5d	1	1.28mi
7041 Garfield Ave Minneapolis, MN	3.0	2.0	1159	$2,236	$1.93	2d	1	1.42mi
8055 Penn Ave S Bloomington, MN	1.0–2.0	1.0–2.5	1133	$2,695	$2.38	2d	22	1.44mi
9119 10th Ave S Minneapolis, MN	3.0	1.0	1100	$2,295	$2.09	20d	1	1.48mi

Listing history 3 events

1. 2026-05-20
   status Pending
2. 2026-05-18
   listed $195,000 Active
3. 2026-05-17
   historical $195,000

ⓘ 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: $2,774 · $231/mo
• Projected year-2 tax: $2,774 · $231/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 ≥98°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: $24,465
• − Mortgage interest: −$10,923
• − Property taxes: −$2,774
• − Insurance: −$975
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$5,673
• Taxable income: $206
• Est. tax owed @ 24.0%: −$49
• After-tax cash flow: $3,258/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: Bloomington Public School District
• NCES district ID: 2705790
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $63,279
• Composite: 37.37/100
• National rank: #4431
• State rank: #192 of 301 in MN

Livability — Bloomington

• Score: 76/100
• State rank: #168
• US rank: #3640

Category grades

Amenities F Commute A+ Cost of living C Crime D- Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, MN
• County: Hennepin County · 1,150,272 people
• City population: 88,605
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 24,451
• Household income: $82,170
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 800.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 53% Hispanic / Latino 18% Black 17% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 12% Cuban 1%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 3%
• Foreign-born: 19% · Canada, Vietnam, United Kingdom
• Languages at home: 74% English-only · Spanish 12% Other Asian/Pacific 2% Vietnamese 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: ▼ -247.94%
• Current HPI: 252.3077
• Rent YoY: —
• 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

3 events — show timeline

• 2026-05-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Coming Soon $195,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $2,774 · +1.6% YoY. Source: county tax records.