1600 Oliver Ave N · Minneapolis, MN 55411

$98,500

4 bd · 1.5 ba · 1,840 sqft · SingleFamily public records · 23 Days on market

Built 1926 5,662 sqft lot $54/sqft · 69% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

Key facts

• 5,662 sq ft lot
• Garage
• Built 1926

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.4% 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 (+7.3%/yr); 132 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $2,453/mo this rent would consume 49% of the median local household income ($60k/yr) (locally 1826% 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 $681 of loan paydown is wiped out by about $3k 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 + 7.3% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,022 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 2.49% ✓
• Cap rate: 20.38%
• Cash-on-cash: 50.32%
• DSCR: 3.24
• GRM: 3.3

CMA / ARV

• ARV (median comp): $291,827
• List price: $98,500
• Delta: -66.25%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 53.2%
• Equity multiple: 3.50×
• Total profit: $68,999
• Equity at exit: $14,687

10-year hold

• IRR: 60.2%
• Equity multiple: 8.46×
• Total profit: $205,645
• Equity at exit: $8,516

Cash invested: $27,580 (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 55411

• Home prices YoY: -8.7%
• Rents YoY: 7.3%
• Active inventory: 132
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,453 high
• Mortgage (P&I): −$517
• Tax from tax record: −$224 /mo · $2,690/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $1,156

Break-even live

Break-even rent $990

Max offer price $98,500

Occupancy floor 48%

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1504 Queen Ave N Minneapolis, MN	3.0	1.5	1746	$2,800	$1.60	1d	1	0.12mi
1429 Knox Ave N Unit 1429 Minneapolis, MN	4.0	1.0	1260	$1,995	$1.58	43d	1	0.24mi
1239 Knox Ave N Minneapolis, MN	4.0	1.0	1944	$2,400	$1.23	4d	1	0.37mi
1312 18th Ave N Minneapolis, MN	3.0	1.0	1520	$1,899	$1.25	7d	1	0.48mi
1414 Golden Valley Rd Unit 2 Minneapolis, MN	5.0	2.0	2000	$2,595	$1.30	43d	1	0.49mi
1030 Knox Ave N Apt 3 Minneapolis, MN	5.0	1.5	1500	$2,450	$1.63	43d	1	0.52mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	44d	1	0.57mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	0.59mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	21d	1	0.59mi
522 N Newton Ave Unit 1 Minneapolis, MN	4.0	2.0	2000	$2,100	$1.05	43d	1	0.81mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	14d	1	0.81mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	7d	1	0.81mi
1113 N 25th Ave Minneapolis, MN	5.0	2.0	2295	$2,695	$1.17	17d	1	0.89mi
1901 4th Ave N Minneapolis, MN	3.0	2.0	1300	$1,300	$1.00	24d	1	0.95mi
2647 Fremont Ave N Minneapolis, MN	5.0	1.0	1508	$2,595	$1.72	14d	1	1.02mi
1611 Glenwood Ave #2 Minneapolis, MN	3.0	2.0	1800	$2,100	$1.17	14d	1	1.03mi
2819 Girard Ave N Minneapolis, MN	5.0	2.0	1718	$2,300	$1.34	43d	1	1.09mi
2646 Dupont Ave N Unit 2 Minneapolis, MN	4.0	1.0	1514	$2,245	$1.48	43d	1	1.10mi
2923 Girard Ave N Minneapolis, MN	5.0	2.0	1760	$2,795	$1.59	21d	1	1.16mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	1.23mi
2643 Lyndale Ave N Minneapolis, MN	4.0	2.0	2198	$750	$0.34	16d	1	1.25mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	1.30mi
3238 Humboldt Ave N Minneapolis, MN	5.0	1.0	1389	$2,100	$1.51	43d	1	1.42mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	1.45mi
2035 W River Rd Minneapolis, MN	1.0–4.0	2.0	1034	$2,503	$2.42	4d	10	1.46mi
721 N 3rd St Minneapolis, MN	3.0	1.0–2.0	972	$4,630	$4.76	2d	10	1.47mi

Listing history 6 events

1. 2026-05-11
   status Pending 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

2. 2026-04-21
   status Active 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

3. 2026-04-17
   status Active 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

4. 2026-03-12
   status Pending 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

5. 2026-03-04
   historical Contingent - Inspection 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

6. 2026-03-02
   listed $98,500 Active 349-char remark

   Show marketing remark (349 chars)

   This beautifully rehabbed 4 bedroom 2 bathroom in Willard Hay was made possible by the Minneapolis Homes initiative and will be sold to a buyer meeting the income requirements of 40% or less of the Area Median Income, based on household size. This will be a perpetually affordable property in partnership with the City of Lakes Community Land Trust.

ⓘ 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: $2,690 · $224/mo
• Projected year-2 tax: $2,690 · $224/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 · 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: $29,440
• − Mortgage interest: −$5,518
• − Property taxes: −$2,690
• − Insurance: −$492
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − Depreciation: −$2,865
• Taxable income: $13,165
• Est. tax owed @ 24.0%: −$3,160
• After-tax cash flow: $10,718/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): 27,741
• Household income: $60,225
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1826.0

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 0.68)
• Race & ethnicity: Black 49% White 23% Two or more races 11% Hispanic / Latino 11% Asian 9%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 1%
• Foreign-born: 19% · Canada, Guatemala
• Languages at home: 68% English-only · Other Asian/Pacific 8% Spanish 8%

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: ▼ -33.91%
• Current HPI: 356.6758
• Rent YoY: ▲ 7.35%
• 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

6 events — show timeline

• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listed $98,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2019): $2,690 · +0.0% YoY. Source: county tax records.