8935 Old Cedar Ave S #211 · Bloomington, MN 55425

$139,900

2 bd · 1.5 ba · 1,094 sqft · Condo public records · 343 Days on market

Built 1972 $128/sqft · 61% below area $654/mo HOA · 39% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Cash flow +6.6/30.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location, near Mall of America, & Airport Pool, Sauna, Storage locker, Building Security Camera's. New refrigerator, New Rang and new dish washer will be delivered on 07/16. New hard wood floor in the dining room, new carpet & fresh paint 6 month ago. Private storage. New garbage disposal & new electric panel box. Party room available.

Key facts

• Party room available
• Sauna
• Private storage

Tags

• POOL
• SAUNA
• STORAGE LOCKER
• BUILDING SECURITY CAMERA'S
• PRIVATE STORAGE
• PARTY ROOM AVAILABLE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $99k (29.4% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $99k (29.4% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 3.5% in Bloomington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents soft (-1.3%/yr); 20 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $967 of loan paydown is wiped out by about $4k 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 343 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $95k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $98,759 (29.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 343 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 4.30%
• Cash-on-cash: -7.13%
• DSCR: 0.68
• GRM: 7.0

CMA / ARV

• ARV (median comp): $356,381
• List price: $139,900
• Delta: -60.74%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -34.5%
• Equity multiple: -0.07×
• Total profit: $-42,024
• Equity at exit: $20,860

10-year hold

• IRR: -88.2%
• Equity multiple: -0.87×
• Total profit: $-73,091
• Equity at exit: $12,096

Cash invested: $39,172 (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 55425

• Home prices YoY: -22.1%
• Rents YoY: -1.3%
• Active inventory: 20
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$734
• Tax from tax record: −$110 /mo · $1,323/yr
• Insurance: −$58
• HOA: −$654
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-233

Break-even live

Break-even rent $1,970

Max offer price $98,759

Occupancy floor —

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8935 Old Cedar Ave S #202 Minneapolis, MN	2.0	1.5	1030	$1,850	$1.80	14d	1	0.01mi
8813 18th Ave S Unit 3 Bloomington, MN	2.0	1.0	750	$1,275	$1.70	17d	1	0.16mi
9100 Old Cedar Ave S Minneapolis, MN	2.0	1.0	850	$1,310	$1.54	4d	4	0.27mi
8600 Old Cedar Ave S Minneapolis, MN	1.0–2.0	1.0	1012	$1,380	$1.36	17d	1	0.39mi
1930 E 86th St Bloomington, MN	2.0	1.0	787	$1,449	$1.84	2d	65	0.47mi
1926 E 86th St Bloomington, MN	2.0	1.0	884	$1,696	$1.92	4d	19	0.53mi
9400 Old Cedar Ave S Bloomington, MN	1.0–2.0	1.0–1.5	840	$2,000	$2.38	4d	2	0.61mi
9400 Old Cedar Ave S #219 Minneapolis, MN	2.0	1.5	980	$2,000	$2.04	2d	1	0.62mi
9119 10th Ave S Minneapolis, MN	3.0	1.0	1100	$2,295	$2.09	20d	1	0.72mi
8162 Bloomington Ave Minneapolis, MN	2.0–3.0	1.5	1095	$1,815	$1.66	2d	9	1.04mi
8100 12th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	805	$1,375	$1.71	4d	6	1.14mi
7962 Bloomington Ave S Unit 7962 Bloomington, MN	3.0	1.5	1200	$1,800	$1.50	4d	1	1.19mi
8100 31st Ave S Minneapolis, MN	2.0	1.0–2.0	881	$2,708	$3.07	1d	29	1.37mi

HOA detail condo

• Monthly dues: $654 · $7,848/yr
• Likely covers: trashelectricpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $139,900 Active 343 DOM
2. 2026-06-17
   days on market $139,900 Active 342 DOM
3. 2026-06-16
   days on market $139,900 Active 341 DOM
4. 2026-06-15
   days on market $139,900 Active 340 DOM
5. 2026-06-13
   days on market $139,900 Active 338 DOM
6. 2026-06-09
   days on market $139,900 Active 334 DOM
7. 2026-06-08
   days on market $139,900 Active 333 DOM
8. 2026-06-07
   days on market $139,900 Active 332 DOM
9. 2026-06-04
   days on market $139,900 Active 329 DOM
10. 2026-06-03
    days on market $139,900 Active 328 DOM
11. 2026-06-02
    days on market $139,900 Active 327 DOM
12. 2026-06-01
    days on market $139,900 Active 326 DOM
13. 2026-05-31
    days on market $139,900 Active 325 DOM
14. 2026-03-20
    price $139,900 355-char remark

    Show marketing remark (355 chars)

    Great location, near Mall of America, & Airport Pool, Sauna, Storage locker, Building Security Camera's. New refrigerator, New Rang and new dish washer will be delivered on 07/16. New hard wood floor in the dining room, new carpet & fresh paint 6 month ago. Private storage. New garbage disposal & new electric panel box. Party room available.

15. 2025-07-10
    listed $144,000 Active 355-char remark

    Show marketing remark (355 chars)

    Great location, near Mall of America, & Airport Pool, Sauna, Storage locker, Building Security Camera's. New refrigerator, New Rang and new dish washer will be delivered on 07/16. New hard wood floor in the dining room, new carpet & fresh paint 6 month ago. Private storage. New garbage disposal & new electric panel box. Party room available.

16. 2016-05-05
    soldstatus $94,900 Sold 329-char remark

    Show marketing remark (329 chars)

    Newly Updated 2 Bedroom, 2 Bathroom Condo near Mall of America with a Spacious Living Room. Large Walk-in Closet, Balcony Overlooking Pool. Newer Carpet, Fresh Paint. Side by Side Stalls in Underground Garage. With additional Amenities of Outdoor Pool, Sauna, Party Room, Elevator, Storage Locker, and Building Security Camera's.

17. 2016-03-25
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Newly Updated 2 Bedroom, 2 Bathroom Condo near Mall of America with a Spacious Living Room. Large Walk-in Closet, Balcony Overlooking Pool. Newer Carpet, Fresh Paint. Side by Side Stalls in Underground Garage. With additional Amenities of Outdoor Pool, Sauna, Party Room, Elevator, Storage Locker, and Building Security Camera's.

18. 2016-03-09
    historical Contingent - Subject to Statutory Rescission 329-char remark

    Show marketing remark (329 chars)

    Newly Updated 2 Bedroom, 2 Bathroom Condo near Mall of America with a Spacious Living Room. Large Walk-in Closet, Balcony Overlooking Pool. Newer Carpet, Fresh Paint. Side by Side Stalls in Underground Garage. With additional Amenities of Outdoor Pool, Sauna, Party Room, Elevator, Storage Locker, and Building Security Camera's.

19. 2016-03-07
    listed $94,900 Active 329-char remark

    Show marketing remark (329 chars)

    Newly Updated 2 Bedroom, 2 Bathroom Condo near Mall of America with a Spacious Living Room. Large Walk-in Closet, Balcony Overlooking Pool. Newer Carpet, Fresh Paint. Side by Side Stalls in Underground Garage. With additional Amenities of Outdoor Pool, Sauna, Party Room, Elevator, Storage Locker, and Building Security Camera's.

20. 2003-02-11
    soldstatus $121,000
21. 2003-01-17
    soldstatus $121,000
22. 2003-01-06
    historical
23. 2002-10-18
    listed $124,900
24. 2002-02-15
    soldstatus $114,900
25. 2001-09-28
    soldstatus $114,900
26. 2001-07-22
    historical
27. 2001-07-20
    listed $114,900

ⓘ 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: $1,323 · $110/mo
• Projected year-2 tax: $1,445 · $120/mo
• Expected delta: +$122/yr (+$10/mo · 9.2%)

ⓘ 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 4/10 Moderate
• 🌡 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: $20,101
• − Mortgage interest: −$7,837
• − Property taxes: −$1,323
• − Insurance: −$700
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − HOA: −$7,848
• − Depreciation: −$4,070
• Taxable loss: −$4,892
• Est. tax savings @ 24.0%: +$1,174
• After-tax cash flow: $-1,621/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): 10,908
• Household income: $76,274
• Rent vs Own: 67.0% rent · 33.0% own
• Severe rent burden: 504.0

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 0.71)
• Race & ethnicity: White 43% Black 22% Hispanic / Latino 22% Two or more races 13% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 3%
• Common ancestry: Portuguese 7% Swiss 2% Romanian 2%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 65% English-only · Spanish 17% 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: ▼ -74.59%
• Current HPI: 262.1563
• Rent YoY: ▼ -1.26%
• 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

+21.8% since first listed

14 events — show timeline

• 2026-03-20 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-10 Listed $144,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-05 Sold (MLS) $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-07 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-02-11 Sold (Public Records) $121,000 Public Records
• 2003-01-17 Sold (MLS) $121,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-10-18 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-02-15 Sold (Public Records) $114,900 Public Records
• 2001-09-28 Sold (MLS) $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-20 Listed $114,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $1,323 · -4.9% YoY. Source: county tax records.