10113 W 34th Ave #335 · Minnetonka, MN 55305

$79,900

1 bd · 1.0 ba · 750 sqft · Condo public records · 103 Days on market

Built 1970 $673/mo HOA · 45% of rent

---

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 +14.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New carpet- fresh paint! Great views from this 3rd floor unit! Ready for move-in! Association fee includes: Taxes! - heat, water, A/C, amenities'! Security bldg. - large community area has full kitchen; dining space plus patio area. Elevator.

Key facts

• Full kitchen
• Large community area
• Patio area

Tags

• SECURITY BLDG
• LARGE COMMUNITY AREA
• FULL KITCHEN
• DINING SPACE
• PATIO AREA
• ELEVATOR

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $10 ($114/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.5% in Minnetonka — 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 75/100 on livability (#187 in MN, #3,994 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety F.
• Hopkins Public School District (suburban): math 48% / reading 57% proficiency, ranked #75 of 301 in MN (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 123 active listings in the ZIP; 40 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).
• This rent is only 17% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 103 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.89% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-11,501
• Equity at exit: $11,913

10-year hold

• IRR: -3.7%
• Equity multiple: 0.74×
• Total profit: $-5,798
• Equity at exit: $6,908

Cash invested: $22,372 (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 55305

• Rents YoY: 3.3%
• Active inventory: 123
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,512 high
• Mortgage (P&I): −$419
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$33
• HOA: −$673
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $10

Break-even live

Break-even rent $1,500

Max offer price $79,900

Occupancy floor 94%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10213 W 34th St Unit 10213-204 Minnetonka, MN	2.0	1.0	948	$1,850	$1.95	4d	1	0.05mi
10213 W 34th St Unit 10253-103 Minnetonka, MN	1.0	1.0	707	$1,350	$1.91	5d	1	0.05mi
10213 W 34th St Unit 10213-202 Minnetonka, MN	2.0	1.0	948	$1,795	$1.89	4d	1	0.05mi
10213 W 34th St Unit 10233-304 Minnetonka, MN	1.0	1.0	700	$1,350	$1.93	4d	1	0.05mi
10213 W 34th St Minnetonka, MN	1.0	1.0	707	$1,295	$1.83	4d	1	0.05mi
10213 W 34th St Unit 10213-302 Minnetonka, MN	2.0	1.0	948	$1,995	$2.10	4d	1	0.05mi
10213 W 34th St Unit 10233-302 Minnetonka, MN	2.0	1.0	953	$1,650	$1.73	4d	1	0.05mi
10100 Minnetonka Blvd Hopkins, MN	2.0	1.0	950	$1,400	$1.47	44d	1	0.20mi
9700 Waterstone Pl Hopkins, MN	2.0	1.0–2.0	909	$1,855	$2.04	2d	15	0.45mi
460 5th Ave N Hopkins, MN	1.0–2.0	1.0–2.0	1003	$1,280	$1.28	3d	6	0.65mi
1301 Highway 7 Hopkins, MN	1.0–2.0	1.0	786	$1,235	$1.57	2d	14	0.73mi
2828 Jordan Ave S Minnetonka, MN	1.0–3.0	1.0–2.0	1008	$1,359	$1.35	5d	9	0.74mi
3601 Phillips Pkwy Minneapolis, MN	3.0	1.0–2.0	920	$1,793	$1.95	2d	9	0.77mi
10401 Cedar Lake Rd #505 Hopkins, MN	1.0	1.0	600	$1,395	$2.33	44d	1	0.80mi
10401 Cedar Lake Rd #505 Hopkins, MN	1.0	1.0	600	$1,395	$2.33	5d	1	0.80mi
10401 Cedar Lk Rd S Minnetonka, MN	1.0	1.0	600	$1,295	$2.16	2d	1	0.80mi
8817 W 35th St Minneapolis, MN	1.0–2.0	1.0	787	$1,175	$1.49	5d	2	0.82mi
8824 W 35th St Unit 9 Minneapolis, MN	1.0	1.0	700	$1,065	$1.52	24d	1	0.82mi
8801 W 35th St Minneapolis, MN	1.0	1.0	650	$1,025	$1.58	44d	1	0.85mi
3544 Aquila Cir Unit 8 St Louis Park, MN	2.0	1.0	800	$1,299	$1.62	44d	1	0.85mi
10201 Cedar Lake Rd S Unit 201-101 Minnetonka, MN	2.0	1.5	1038	$1,499	$1.44	18d	1	0.89mi
421 Van Buren Ave N Hopkins, MN	1.0–2.0	1.0–1.5	917	$1,085	$1.18	2d	27	0.97mi
3033 Xylon Ave S Minneapolis, MN	2.0	1.0	837	$1,262	$1.51	5d	2	1.18mi
8216 W 31st St Unit 07 Minneapolis, MN	2.0	1.0	950	$1,250	$1.32	24d	1	1.21mi
8216 W 31st St Unit 08 Minneapolis, MN	2.0	1.0	950	$1,250	$1.32	5d	1	1.21mi
1045 Hiawatha Ave Hopkins, MN	2.0	1.0–2.0	835	$1,385	$1.66	3d	5	1.22mi
8200 W 31st St Minneapolis, MN	1.0	1.0	689	$1,100	$1.60	44d	2	1.24mi
9 7th Ave S Hopkins, MN	1.0–2.0	1.0	710	$1,018	$1.43	5d	1	1.25mi
3117 Virginia Ave S Unit 102 Minneapolis, MN	2.0	1.0	970	$1,425	$1.47	44d	1	1.25mi
1301 Cambridge St Hopkins, MN	1.0	1.0	612	$1,350	$2.20	5d	6	1.25mi
8201 W 30 1/2 St Minneapolis, MN	2.0	1.0	850	$1,295	$1.52	5d	1	1.25mi
1210 Cambridge St Unit 1220-060 Hopkins, MN	1.0	1.0	650	$999	$1.54	44d	1	1.26mi
1210 Cambridge St Unit 1210-017 Hopkins, MN	1.0	1.0	650	$1,069	$1.64	44d	1	1.26mi
3101 Virginia Ave S Minneapolis, MN	2.0	1.0–1.5	850	$1,360	$1.60	2d	4	1.26mi
3063 Virginia Ave S Minneapolis, MN	1.0	1.0	700	$1,075	$1.54	5d	1	1.27mi
3055 Virginia Ave S St Louis Park, MN	1.0	1.0	675	$1,075	$1.59	44d	1	1.27mi
3055 Virginia Ave S Unit 3063-18 St Louis Park, MN	1.0	1.0	700	$1,075	$1.54	5d	1	1.27mi
3055 Virginia Ave S Unit 3055-2 St Louis Park, MN	1.0	1.0	550	$1,199	$2.18	24d	1	1.27mi
3055 Virginia Ave S Unit 3055-12 St Louis Park, MN	1.0	1.0	675	$1,075	$1.59	24d	1	1.27mi
1125 Hiawatha Ave Hopkins, MN	1.0	1.0	670	$1,120	$1.67	5d	3	1.27mi

HOA detail condo

• Monthly dues: $673 · $8,076/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $79,900 Active 103 DOM
2. 2026-06-17
   days on market $79,900 Active 102 DOM
3. 2026-06-16
   days on market $79,900 Active 101 DOM
4. 2026-06-15
   days on market $79,900 Active 100 DOM
5. 2026-06-13
   days on market $79,900 Active 98 DOM
6. 2026-06-13
   days on market $79,900 Active 97 DOM
7. 2026-06-09
   days on market $79,900 Active 94 DOM
8. 2026-06-08
   days on market $79,900 Active 93 DOM
9. 2026-06-07
   days on market $79,900 Active 92 DOM
10. 2026-06-04
    days on market $79,900 Active 89 DOM
11. 2026-06-03
    days on market $79,900 Active 88 DOM
12. 2026-06-02
    days on market $79,900 Active 87 DOM
13. 2026-06-01
    days on market $79,900 Active 86 DOM
14. 2026-05-31
    days on market $79,900 Active 85 DOM
15. 2026-03-07
    listed $79,900 Active 242-char remark

    Show marketing remark (242 chars)

    New carpet- fresh paint! Great views from this 3rd floor unit! Ready for move-in! Association fee includes: Taxes! - heat, water, A/C, amenities'! Security bldg. - large community area has full kitchen; dining space plus patio area. Elevator.

16. 2026-02-28
    historical
17. 2025-10-24
    status Active
18. 2025-10-24
    historical
19. 2025-09-17
    price $89,000
20. 2025-06-24
    listed $99,900 Active
21. 1999-03-01
    historical
22. 1998-10-14
    listed $44,900

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $805 · $67/mo
• Expected delta: +$90/yr (+$8/mo · 12.6%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,143
• − Mortgage interest: −$4,476
• − Property taxes: −$715
• − Insurance: −$400
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − HOA: −$8,076
• − Depreciation: −$2,324
• Taxable loss: −$750
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $295/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: Hopkins Public School District
• NCES district ID: 2714260
• Math proficiency: 48% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $66,915
• Composite: 46.44/100
• National rank: #2448
• State rank: #75 of 301 in MN

Livability — Minnetonka

• Score: 75/100
• State rank: #187
• US rank: #3994

Category grades

Amenities F Commute C+ Cost of living F Crime A- Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minnetonka, MN
• County: Hennepin County · 1,150,272 people
• City population: 41,857
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 21,068
• Household income: $104,914
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 949.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 84% English-only · Other Asian/Pacific 6% Other Indo-European 2% Spanish 2%

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: ▼ -358.96%
• Current HPI: 231.3421
• Rent YoY: ▲ 3.28%
• 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

+78.0% since first listed

8 events — show timeline

• 2026-03-07 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-24 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-10-14 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $715 · +16.8% YoY. Source: county tax records.