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3713 Penn Ave N
D+ Composite 46.57
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 +13.8/30.0
  • ARV discount +10.6/15.0
  • Condition / age +5.0/5.0
  • DSCR +4.2/10.0
  • Rent growth +4.1/5.0
  • 1% rule +3.9/10.0
  • Livability +3.9/5.0
  • Schools +1.2/10.0
  • Appreciation +0.0/10.0

$279,900

3713 Penn Ave N · Minneapolis, MN 55412
4 bd · 4.0 ba · 2,064 sqft · SingleFamily · 101 Days on market
Built 2026 Excellent condition 2,613 sqft lot 1-car garage $136/sqft · 7% below area Est $300k · 7% under ↓ 3% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Beautiful new 2-story home featuring 4 bedrooms, 4 bathrooms, and a 1-car garage. Enjoy an open layout with hardwood floors, a stunning kitchen with stainless steel appliances, and LP SmartSide exterior. The home includes stylish bathrooms. Home is certified energy efficient, featuring all-electric appliances, a heat pump furnace, and a heat pump water heater. This property is available only to owner-occupants and is part of the Minneapolis Homes and Development Assistance Programs. Minimum $1,000 in Minneapolis Homes Assistance is required to help with the buyer’s affordability gap. Income restrictions apply—maximum 80% HUD AMI limit based on household size.

Key facts

  • 2,613 sq ft lot
  • Garage
  • Built 2026

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 4-bed/4.0-bath single-family listed at $280k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $24 ($284/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 (11.5% below list).
  • Recommended offer: $248k (11.5% below list) — sets the bar for 1% rule.
  • Cap rate 6.4% vs local median 3.2% 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.
  • Zoned schools: Lucy Laney Elementary (math 8% / reading 17%, grade F, #800 of 857 statewide, top 95%, 339 students, 89% FRL); Franklin Middle (math 2% / reading 8%, grade F, #255 of 258 statewide, top 100%, 287 students, 89% FRL); Henry High (reading 70%, 858 students, 80% FRL) — zoned schools average 86% FRL vs 58% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Zoned-school proficiency averages 9% at this address vs 40% district-wide (-32 pts) — the specific schools serving this property underperform the Minneapolis Public School District average; the district grade overstates school quality for this exact location.
  • Market conditions: Rents rising fast (+6.3%/yr); 286 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% 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

  • It's been on market 101 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
Recommended offer $247,844 (11.5% below list)

Questions for the listing agent

  1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
  2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  4. 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?
  5. 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?
  6. 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.
  7. 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.
  8. 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
0.89%
Cap rate
6.39%
Cash-on-cash
0.36%
DSCR
1.02
GRM
9.4

CMA / ARV

ARV (median comp)
$300,460
List price
$279,900
Delta
-6.84%
Verdict
FAIR
Comps
14 within 1.0 mi
Show comp detail 10 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
3722 Newton Ave N 0.15mi 4/2.0 1,894 (-8%) 22mo $271,000 $143 52
3649 Morgan Ave N 0.20mi 3/2.0 (-1) 1,800 (-13%) 24mo $280,000 $156 36
3257 Grimes Ave N 1.19mi 4/2.0 2,047 (-1%) 26mo $355,000 $173 36
3700 Girard Ave N 0.59mi 5/2.0 (+1) 1,831 (-11%) 13mo $260,000 $142 30
3800 N 6th St 1.10mi 4/2.0 1,700 (-18%) 6mo $299,900 $176 27
3519 Lyndale Ave N 1.02mi 3/2.0 (-1) 1,750 (-15%) 1mo $364,900 $209 26
3905 6th St N 1.09mi 3/2.0 (-1) 1,712 (-17%) 1mo $230,000 $134 26
3301 Morgan Ave N 0.55mi 3/2.0 (-1) 1,700 (-18%) 36mo $216,500 $127 16
2743 Queen Ave N 0.94mi 3/3.0 (-1) 1,600 (-22%) 29mo $285,000 $178 11
4325 Thomas Ave N 0.84mi 3/2.0 (-1) 2,535 (+23%) 24mo $344,750 $136 7

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
-12.0%
Equity multiple
0.55×
Total profit
$-35,178
Equity at exit
$41,734
10-year hold
IRR
1.5%
Equity multiple
1.12×
Total profit
$9,419
Equity at exit
$24,201

Cash invested: $78,372 (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.

Active competition Active MLS

For sale now
43 active · 58 under contract
Median asking
$269,999 ($146/sqft)
Median days on market
48 d
This list price
51% of active listings are priced below it
ARV vs active asking
-0.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 55412

Home prices YoY
-26.9%
Rents YoY
6.3%
Active inventory
286
Price-to-rent
9.4×

Monthly cashflow live

Estimated rent
$2,478 high interval (Pro) →
Mortgage (P&I)
$1,468
Tax est. 1.5%
$350 /mo · $4,198/yr
Insurance
$117
HOA
$0
Vacancy / Maint / Mgmt
$520
Net cashflow
$24

Break-even live

Break-even rent $2,449
Max offer price $279,900
Occupancy floor 94%

Sensitivity live

Price -10% $217 -5% $120 +0% $24 +5% $-73 +10% $-170
Rent -10% $-172 -5% $-74 +0% $24 +5% $122 +10% $219
Rate -1.0pp $165 -0.5pp $95 base $24 +0.5pp $-49 +1.0pp $-123

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
$69,975
Closing costs
$8,397
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 28 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3814 Queen Ave N Minneapolis, MN 3.0 1.0 1612 $2,100 $1.30 54d 1 0.11mi
3759 Knox Ave N Minneapolis, MN 5.0 2.0 2100 $2,800 $1.33 0d 1 0.33mi
3451 Morgan Ave N Minneapolis, MN 5.0 2.0 2007 $2,600 $1.30 93d 1 0.39mi
3315 James Ave N Minneapolis, MN 4.0 1.0 1400 $2,100 $1.50 99d 1 0.65mi
3935 Fremont Ave N Minneapolis, MN 4.0 1.0 1900 $2,595 $1.37 139d 1 0.69mi
3342 Fremont Ave N Unit 2 Minneapolis, MN 4.0 2.0 2000 $2,200 $1.10 120d 1 0.81mi
3022 Vincent Ave N Minneapolis, MN 3.0 2.0 1832 $2,210 $1.21 10d 1 0.81mi
3522 Bryant Ave N Minneapolis, MN 5.0 2.0 1449 $2,995 $2.07 139d 1 0.95mi
2923 Girard Ave N Minneapolis, MN 5.0 2.0 1760 $2,795 $1.59 117d 1 1.05mi
3677 Hubbard Ave N Minneapolis, MN 3.0 2.0 1676 $2,525 $1.51 88d 1 1.08mi
2819 Girard Ave N Minneapolis, MN 5.0 2.0 1718 $2,300 $1.34 139d 1 1.12mi
3351 Grimes Ave N Robbinsdale, MN 4.0 2.0 1800 $2,900 $1.61 64d 1 1.13mi
3226 Halglo Pl Robbinsdale, MN 4.0 2.0 1997 $2,995 $1.50 5d 1 1.22mi
3247 N 6th St Minneapolis, MN 5.0 1.5 1405 $2,350 $1.67 120d 1 1.23mi
3247 N 6th St Minneapolis, MN 5.0 1.5 1405 $2,350 $1.67 139d 1 1.23mi
3247 N 6th St Minneapolis, MN 5.0 1.5 1405 $2,350 $1.67 117d 1 1.23mi
1918 Hillside Ave N Unit B Minneapolis, MN 3.0 2.5 1600 $2,450 $1.53 10d 1 1.28mi
4505 Drew Ave N Robbinsdale, MN 3.0 2.0 1918 $2,750 $1.43 54d 1 1.30mi
4433 N Aldrich Ave Unit 1 Minneapolis, MN 4.0 1.0 2300 $1,895 $0.82 139d 1 1.31mi
2646 Dupont Ave N Unit 2 Minneapolis, MN 4.0 1.0 1514 $2,245 $1.48 139d 1 1.34mi
2513 Fremont Ave N Minneapolis, MN 4.0 1.0 1500 $2,150 $1.43 30d 1 1.37mi
2719 N Aldrich Ave Unit 2 Minneapolis, MN 5.0 3.0 1700 $2,000 $1.18 30d 1 1.39mi
2324 Logan Ave N Minneapolis, MN 4.0 1.5 1400 $2,300 $1.64 140d 1 1.39mi
2614 DuPont Ave N Minneapolis, MN 4.0 2.0 1972 $2,275 $1.15 10d 1 1.39mi
1113 N 25th Ave Minneapolis, MN 5.0 2.0 2295 $2,395 $1.04 62d 1 1.45mi
3728 Noble Ave N Robbinsdale, MN 3.0 2.0 1918 $1,480 $0.77 24d 1 1.45mi
2643 Lyndale Ave N Minneapolis, MN 4.0 2.0 2198 $750 $0.34 112d 1 1.48mi
4918 Morgan Ave N Minneapolis, MN 4.0 2.0 1728 $2,411 $1.40 30d 1 1.50mi

Property features AI

Finance

Financial info
Special funding available

Exterior

Parking
Concrete parking surfaceGarage door opener1-car garage (13 x 23; 8' wide x 7' high)
Utilities
City waterCity sewer200+ amp electric serviceElectric and natural gas fuel
Home design
Residential attached propertyTwo levels
Construction
Concrete and frame constructionAsphalt roof (age 8 years or less)Poured concrete foundationNew construction
Exterior features
Front porchRear porchIrregular lot with light tree coverageCity street frontage on a public maintained road

Interior

Kitchen
DishwasherRangeMicrowaveRefrigeratorDisposalStainless steel appliances
Bedrooms
4 bedrooms totalUpper level bedrooms presentLower level bedrooms presentMain level bedroom/dining configuration (rooms on multiple levels)
Flooring
Hardwood floorsTile floors
Bathrooms
2 full bathrooms1 three-quarter bathroom1 half bathroomPrimary/ensuite bathroom and bathrooms on upper level and in basement
Heating & cooling
Heat pump for heating and cooling
Interior features
Air-to-air exchangerElectronic air filterEnergy Star qualified appliancesNatural woodworkKitchen windowFinished basementEgress windows in basementDrain-tiled basementSump pump
Laundry & utility
DryerElectric water heater

Listing history 50 events

  1. 2026-09-23
    days on market $279,900 Active 101 DOM
  2. 2026-09-22
    days on market $279,900 Active 100 DOM
  3. 2026-09-21
    days on market $279,900 Active 99 DOM
  4. 2026-09-20
    days on market $279,900 Active 98 DOM
  5. 2026-09-19
    days on market $279,900 Active 97 DOM
  6. 2026-09-18
    days on market $279,900 Active 96 DOM
  7. 2026-09-17
    days on market $279,900 Active 95 DOM
  8. 2026-09-16
    days on market $279,900 Active 94 DOM
  9. 2026-09-15
    days on market $279,900 Active 93 DOM
  10. 2026-09-14
    days on market $279,900 Active 92 DOM
  11. 2026-09-13
    days on market $279,900 Active 91 DOM
  12. 2026-09-12
    days on market $279,900 Active 90 DOM
  13. 2026-09-11
    days on market $279,900 Active 89 DOM
  14. 2026-09-05
    days on market $279,900 Active 83 DOM
  15. 2026-09-04
    days on market $279,900 Active 82 DOM
  16. 2026-09-03
    days on market $279,900 Active 81 DOM
  17. 2026-08-31
    days on market $279,900 Active 78 DOM
  18. 2026-08-30
    days on market $279,900 Active 77 DOM
  19. 2026-08-29
    days on market $279,900 Active 76 DOM
  20. 2026-08-28
    days on market $279,900 Active 75 DOM
  21. 2026-08-27
    days on market $279,900 Active 74 DOM
  22. 2026-08-25
    days on market $279,900 Active 72 DOM
  23. 2026-08-24
    days on market $279,900 Active 71 DOM
  24. 2026-08-23
    days on market $279,900 Active 70 DOM
  25. 2026-08-22
    days on market $279,900 Active 69 DOM
  26. 2026-08-21
    days on market $279,900 Active 68 DOM
  27. 2026-08-20
    days on market $279,900 Active 67 DOM
  28. 2026-08-19
    days on market $279,900 Active 66 DOM
  29. 2026-08-18
    days on market $279,900 Active 65 DOM
  30. 2026-08-17
    days on market $279,900 Active 64 DOM
  31. 2026-08-16
    days on market $279,900 Active 63 DOM
  32. 2026-08-15
    days on market $279,900 Active 62 DOM
  33. 2026-08-14
    days on market $279,900 Active 61 DOM
  34. 2026-08-13
    days on market $279,900 Active 60 DOM
  35. 2026-08-12
    days on market $279,900 Active 59 DOM
  36. 2026-08-11
    days on market $279,900 Active 58 DOM
  37. 2026-08-10
    days on market $279,900 Active 57 DOM
  38. 2026-08-09
    days on market $279,900 Active 56 DOM
  39. 2026-08-08
    days on market $279,900 Active 55 DOM
  40. 2026-08-06
    days on market $279,900 Active 53 DOM
  41. 2026-08-05
    days on market $279,900 Active 52 DOM
  42. 2026-08-04
    days on market $279,900 Active 51 DOM
  43. 2026-08-03
    days on market $279,900 Active 50 DOM
  44. 2026-07-31
    days on market $279,900 Active 47 DOM
  45. 2026-07-30
    days on market $279,900 Active 45 DOM
  46. 2026-07-28
    days on market $279,900 Active 44 DOM
  47. 2026-07-26
    days on market $279,900 Active 42 DOM
  48. 2026-07-24
    days on market $279,900 Active 40 DOM
  49. 2026-07-23
    days on market $279,900 Active 39 DOM
  50. 2026-07-22
    days on market $279,900 Active 38 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$29,741
− Mortgage interest
−$15,679
− Property taxes
−$4,198
− Insurance
−$1,400
− Repairs & maintenance
−$2,379
− Management
−$2,379
− Depreciation
−$8,143
Taxable loss
−$4,437
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,065
After-tax cash flow
$1,349/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.

Condition & rehab AI · 1 photo

Excellent 100/100 None rehab

This is a brand new construction townhouse with no visible repairs or maintenance needed. It is certified energy efficient and ready for immediate occupancy.

F Composite school gradezoned avg 12/100

Zoned Schools

Elementary Lucy Laney Elementary F MN #800/857 Nat'l #37,719/41,679 Middle Olson Middle F MN #246/258 Nat'l #13,057/14,009 High Fair High

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
B Composite livability gradescore 78/100

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 · 1,405,227 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
10% of renters

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

Price history

-3.4% since first listed
2 events — show timeline
  • 2026-06-24 Price Changed $279,900 NORTHSTARMLS as Distributed by MLS Grid
  • 2026-06-14 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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