1921 Queen Ave N · Minneapolis, MN 55411

$165,000

2 bd · 1.0 ba · 824 sqft · SingleFamily public records · 17 Days on market

Built 1914 5,227 sqft lot $200/sqft · 42% above area Est $261k · 37% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• 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

Key facts

• Fenced back yard
• Mature front trees
• Near parks

Tags

• RAISED PORCH
• ORIGINAL BRICK ACCENTS
• LARGE FRONT-FACING WINDOWS
• FENCED BACK YARD
• MATURE FRONT TREES
• NEAR PARKS

Property features AI

Exterior

• Parking: Gravel driveway; 1-car garage
• Utilities: City water connected; City sewer connected; Natural gas; Circuit breaker electrical
• Home design: Residential property; One-and-one-half story home; Above-grade and below-grade finished living areas
• Construction: Block construction; Block foundation
• Exterior features: Front porch (glass-enclosed, screened); Additional porch; Wood exterior; Wood fencing; Lot roughly 40 x 128 (0.12 acre)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (one main-floor bedroom, others on upper and main levels)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Main floor full bathroom
• Heating & cooling: Forced-air heating; Window air conditioning units
• Interior features: Fireplace (1); Main floor primary bedroom; Natural woodwork; Kitchen window; Porch
• Laundry & utility: Main-level laundry (washer and dryer included); Utility/unfinished area in lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $161k (2.7% below list).
• Recommended offer: $161k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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); 133 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/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 $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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 34y 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 $50k; list at $165k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,604 (2.7% below list)

Questions for the listing agent

1. Built in 1914 — 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. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

• ARV (median comp): $260,594
• List price: $165,000
• Delta: -36.68%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-9,853
• Equity at exit: $24,602

10-year hold

• IRR: 8.7%
• Equity multiple: 1.79×
• Total profit: $36,683
• Equity at exit: $14,266

Cash invested: $46,200 (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: 133
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,606 high
• Mortgage (P&I): −$865
• Tax from tax record: −$185 /mo · $2,220/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $150

Break-even live

Break-even rent $1,417

Max offer price $165,000

Occupancy floor 86%

Sensitivity live

Price	-10% $243	-5% $196	+0% $150	+5% $103	+10% $56
Rent	-10% $23	-5% $86	+0% $150	+5% $213	+10% $277
Rate	-1.0pp $233	-0.5pp $192	base $150	+0.5pp $107	+1.0pp $63

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	0d	1	0.17mi
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	21d	1	0.17mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	18d	1	0.20mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	8d	4	0.30mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	44d	1	0.38mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	15d	3	0.45mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	15d	1	0.52mi
1816 Zephyr Pl Minneapolis, MN	3.0	1.0	1120	$2,050	$1.83	44d	1	0.53mi
2419 Plymouth Ave N Minneapolis, MN	2.0–3.0	1.0	836	$1,495	$1.79	5d	2	0.54mi
1255 Queen Ave N Minneapolis, MN	1.0–2.0	1.0	633	$1,419	$2.24	4d	4	0.54mi
1239 Sheridan Ave N Minneapolis, MN	1.0–2.0	1.0	795	$1,250	$1.57	5d	4	0.55mi
1709 N 26th Ave Unit 3 Minneapolis, MN	1.0	1.0	920	$1,250	$1.36	44d	1	0.60mi
1407 N 15th Ave Unit 2 Minneapolis, MN	2.0	1.0	687	$1,300	$1.89	44d	1	0.66mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	3d	1	0.73mi
1016 N Newton Ave Unit 4 Minneapolis, MN	3.0	1.0	1009	$1,895	$1.88	44d	1	0.76mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	0d	1	0.87mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	15d	1	0.87mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	0d	1	0.94mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	4d	7	0.94mi
801 N 21st Ave Unit 204 Minneapolis, MN	1.0	1.0	750	$875	$1.17	44d	1	0.99mi
801 21st Ave N Minneapolis, MN	1.0	1.0	750	$875	$1.17	5d	2	0.99mi
2600 France Ave N Unit 2600 Minneapolis, MN	2.0	1.5	1100	$1,599	$1.45	5d	1	1.03mi
3230 N Penn Ave Unit 1 Minneapolis, MN	1.0	1.0	765	$895	$1.17	5d	1	1.06mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	18d	1	1.14mi
2107 N 5th Ave Unit 3 Minneapolis, MN	1.0	1.0	687	$900	$1.31	44d	1	1.15mi
3322 Penn Ave N Minneapolis, MN	1.0	1.0	660	$1,350	$2.05	15d	1	1.16mi
2226 Glenwood Ave Unit 1 Minneapolis, MN	3.0	1.0	1100	$1,399	$1.27	0d	1	1.25mi
2212 Glenwood Ave Unit 1 Minneapolis, MN	2.0	1.0	950	$1,299	$1.37	44d	1	1.25mi
1907 Glenwood Ave Minneapolis, MN	1.0	1.0	600	$850	$1.42	0d	1	1.31mi
1707 Glenwood Ave Minneapolis, MN	1.0	1.0	825	$900	$1.09	0d	5	1.32mi
1611 Glenwood Ave #1 Minneapolis, MN	3.0	2.0	918	$1,945	$2.12	0d	1	1.33mi
3342 N Humboldt Ave Unit 2 Minneapolis, MN	1.0	1.0	900	$1,395	$1.55	18d	1	1.34mi
224 Cedar Lake Rd N Unit 12 Minneapolis, MN	2.0	1.0	750	$1,100	$1.47	44d	1	1.42mi
224 Cedar Lake Rd N Apt 9 Minneapolis, MN	1.0	1.0	700	$825	$1.18	5d	1	1.42mi
3347 Emerson Ave N #2 Minneapolis, MN	1.0	1.0	746	$1,300	$1.74	3d	1	1.42mi
222 Logan Ave N Minneapolis, MN	1.0	1.0	989	$1,250	$1.26	18d	1	1.46mi
265 N Girard Ave Minneapolis, MN	1.0–2.0	1.0–2.0	760	$2,175	$2.86	0d	8	1.46mi
1207 Glenwood Ave Minneapolis, MN	1.0	1.0	593	$1,452	$2.45	0d	6	1.47mi
229 Irving Ave N Minneapolis, MN	3.0	1.0–2.0	767	$1,387	$1.81	18d	7	1.48mi

Listing history 21 events

1. 2026-05-18
   status Pending 989-char remark
2. 2026-05-06
   historical Contingent - Inspection 989-char remark
3. 2026-05-01
   listed $165,000 Active 989-char remark
4. 2015-11-12
   historical
5. 2015-11-01
   price $27,900
6. 2015-10-28
   price $31,900
7. 2015-10-20
   price $34,500
8. 2015-10-12
   listed $35,990 Active
9. 2015-10-07
   historical
10. 2015-10-02
    price $38,999
11. 2015-09-24
    status Active
12. 2015-09-18
    historical
13. 2015-09-11
    price $41,700
14. 2015-08-12
    price $43,700
15. 2015-07-31
    listed $48,200 Active
16. 2007-10-01
    historical
17. 2007-05-31
    listed $164,500
18. 2004-02-06
    soldstatus $50,000
19. 1992-07-02
    soldstatus $26,000
20. 1992-05-26
    soldstatus $26,000
21. 1992-01-31
    listed $27,900

ⓘ 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: $2,220 · $185/mo
• Projected year-2 tax: $2,220 · $185/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: $19,272
• − Mortgage interest: −$9,243
• − Property taxes: −$2,220
• − Insurance: −$825
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − Depreciation: −$4,800
• Taxable loss: −$899
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $2,012/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

+491.4% since first listed

21 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-01 Price Changed $27,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-28 Price Changed $31,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-20 Price Changed $34,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-12 Listed $35,990 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-02 Price Changed $38,999 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-11 Price Changed $41,700 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-12 Price Changed $43,700 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-31 Listed $48,200 NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-31 Listed $164,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-06 Sold (Public Records) $50,000 Public Records
• 1992-07-02 Sold (Public Records) $26,000 Public Records
• 1992-05-26 Sold (MLS) $26,000 NORTHSTARMLS as Distributed by MLS Grid
• 1992-01-31 Listed $27,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,220 · +2.1% YoY. Source: county tax records.