3032 14th Ave S · Minneapolis, MN 55407

$389,000

4 bd · 4.0 ba · 2,584 sqft · MultiFamily public records · 116 Days on market

Built 1907 6,969 sqft lot $151/sqft · 32% below area

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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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

Key facts

• 6,969 sq ft lot
• Built 1907
• Listed 116 days

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $389k).
• Recommended offer: $354k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+4.3%/yr); 149 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $4,693/mo this rent would consume 72% of the median local household income ($78k/yr) (locally 1583% 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 $3k of loan paydown is wiped out by about $12k 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 + 4.3% rent growth), your $109k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; list at $389k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $353,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.21% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• GRM: 6.9

CMA / ARV

• ARV (median comp): $812,496
• List price: $389,000
• Delta: -52.12%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,425
• Equity at exit: $58,001

10-year hold

• IRR: 11.3%
• Equity multiple: 1.94×
• Total profit: $102,815
• Equity at exit: $33,634

Cash invested: $108,920 (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 55407

• Rents YoY: 4.3%
• Active inventory: 149
• Price-to-rent: 27.6×

Monthly cashflow live

• Estimated rent: $4,693 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$593 /mo · $7,117/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$986
• Net cashflow: $912

Break-even live

Break-even rent $3,538

Max offer price $389,000

Occupancy floor 76%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,692
Total (4 units)			$4,693

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 E 34th St Minneapolis, MN	3.0	1.5	1763	$1,800	$1.02	24d	1	0.80mi
3201 24th Ave S Minneapolis, MN	3.0	2.0	2631	$3,395	$1.29	43d	1	0.91mi
2121 11th Ave S Unit 2 Minneapolis, MN	4.0	1.0	1800	$2,450	$1.36	3d	1	0.98mi
220 E 27th St #1 Minneapolis, MN	4.0	1.0	2516	$3,100	$1.23	17d	1	1.01mi
3921 Portland Ave Minneapolis, MN	3.0	2.0	2016	$1,750	$0.87	44d	1	1.22mi
1900 Columbus Ave Unit 1 Minneapolis, MN	3.0	1.5	3506	$2,300	$0.66	43d	1	1.25mi
2916 30th Ave S Unit D Minneapolis, MN	4.0	2.0	1853	$2,497	$1.35	43d	1	1.29mi

Listing history 13 events

1. 2026-06-04
   statusdays on market $389,000 Pending 116 DOM
2. 2026-06-03
   days on market $389,000 Contingent - Inspection 115 DOM
3. 2026-06-02
   days on market $389,000 Contingent - Inspection 114 DOM
4. 2026-06-01
   days on market $389,000 Contingent - Inspection 113 DOM
5. 2026-05-31
   days on market $389,000 Contingent - Inspection 112 DOM
6. 2026-05-20
   historical Contingent - Inspection 510-char remark

   Show marketing remark (510 chars)

   4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

7. 2026-03-26
   price $389,000 510-char remark

   Show marketing remark (510 chars)

   4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

8. 2026-02-26
   price $409,000 510-char remark

   Show marketing remark (510 chars)

   4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

9. 2026-02-09
   status Active 510-char remark

   Show marketing remark (510 chars)

   4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

10. 2026-02-02
    listed $429,000 Active 510-char remark

    Show marketing remark (510 chars)

    4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

11. 2026-01-25
    historical $429,000 510-char remark

    Show marketing remark (510 chars)

    4-1br and 1 ba units. Newer Roof(2019). Great income opportunity! $875, $900, $1150, and $1100 for rents. Opportunity for $4400+ a month in gross rents with tenants paying their own heat and electricity. Creative eclectic neighborhood. Off-street parking. Coin op laundry in basement. Space for gardening. Near Midtown Global Market, Powderhorn Park, Mercado Central, May Day Café, and Reverie. 2 blocks to the Midtown Greenway. Short bike ride or bus ride to downtown, U of M, and light rail Blue Line.

12. 2004-01-29
    soldstatus $250,000
13. 1996-03-06
    soldstatus $55,000

ⓘ 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: $7,117 · $593/mo
• Projected year-2 tax: $7,117 · $593/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: $56,316
• − Mortgage interest: −$21,790
• − Property taxes: −$7,117
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,505
• − Management: −$4,505
• − Depreciation: −$11,316
• Taxable income: $5,137
• Est. tax owed @ 24.0%: −$1,233
• After-tax cash flow: $9,715/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): 37,667
• Household income: $78,464
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1583.0

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 50% Hispanic / Latino 23% Black 18% Two or more races 10% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 8% Romanian 3% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 20% Other Asian/Pacific 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: ▼ -211.97%
• Current HPI: 292.0322
• Rent YoY: ▲ 4.30%
• 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

+607.3% since first listed

8 events — show timeline

• 2026-05-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $389,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $409,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-02 Listed $429,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-25 Coming Soon $429,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-01-29 Sold (Public Records) $250,000 Public Records
• 1996-03-06 Sold (Public Records) $55,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $7,117 · +14.8% YoY. Source: county tax records.