4120 Parklawn Ave #134 · Edina, MN 55435

$136,000

2 bd · 2.0 ba · 1,084 sqft · Condo public records · 86 Days on market

Built 1970 $125/sqft · 43% below area Est $240k · 43% under $958/mo HOA · 55% of rent

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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).

• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• Schools +6.6/10.0
• Livability +4.0/5.0
• Cash flow +2.6/30.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated, move-in-ready condo in a wonderful community in the heart of Edina! This unit boasts a rare gem - a kitchen layout that's open and inviting. With an exhaust hood that vents to the outside, you can cook with confidence and enjoy peace of mind in your kitchen. The nicely renovated kitchen features stainless steel appliances (including a new dishwasher) and granite countertops. The heated garage keeps your car warm in the winter and cooler in the summer. Amenities include a party room with kitchen, workout room, sauna, outdoor patio with grill, heated underground parking, car wash station, and an in-ground outdoor swimming pool. Association fees cover everything except electricity. Parking #22B. Amuse your guests with pool table games and splash in the swimming pool during hot summer season. Enjoy plenty of additional parking around the building, same-floor laundry, and the option to add in-unit laundry. Conveniently located near the Edina Promenade, the famous and beautiful Centennial Lakes Park, Nine Mile Creek Regional Trail, bus lines, and endless dining and shopping. Rare lower-level unit with a walkout patio—perfect for enjoying the outdoors!

Key facts

• Heated garage
• Kitchen layout
• Exhaust hood

Tags

• KITCHEN LAYOUT
• EXHAUST HOOD
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• HEATED GARAGE
• PARTY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $136k.

Deal economics

• At list price, monthly cash flow is $-466 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (60.5% below list).
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $54k (60.5% below list) — sets the bar for cash-flow.
• Cap rate 2.2% vs local median 1.7% in Edina — 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 80/100 on livability (#82 in MN, #1,926 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Edina Public School District (suburban): math 69% / reading 75% proficiency, ranked #5 of 301 in MN (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Normandale Elementary (math 76% / reading 79%, grade A, #21 of 857 statewide, top 3%, 657 students, 7% FRL); South View Middle (math 58% / reading 71%, grade A-, #14 of 258 statewide, top 6%, 987 students, 22% FRL); Edina Senior High (math 57% / reading 76%, grade B, #21 of 471 statewide, top 5%, 2,720 students, 20% FRL).
• Market conditions: Rents flat; 67 active listings in the ZIP; 34 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 $940 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 86 days — a 6% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 55% of rent.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,660 (60.5% 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 86 days. Have you received any prior offers? Is the seller open to a 61% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — 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 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.28% ✓
• Cap rate: 2.18%
• Cash-on-cash: -14.69%
• DSCR: 0.35
• GRM: 6.5

CMA / ARV

• ARV (median comp): $240,206
• List price: $136,000
• Delta: -43.38%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.42% rent growth · sell at horizon

5-year hold

• IRR: -51.5%
• Equity multiple: -0.46×
• Total profit: $-55,552
• Equity at exit: $20,278

10-year hold

• IRR: —
• Equity multiple: -1.66×
• Total profit: $-101,418
• Equity at exit: $11,759

Cash invested: $38,080 (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 55435

• Rents YoY: 0.4%
• Active inventory: 67
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$713
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$57
• HOA: −$958
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-466

Break-even live

Break-even rent $2,332

Max offer price $53,660

Occupancy floor —

Sensitivity live

Price	-10% $-389	-5% $-428	+0% $-466	+5% $-505	+10% $-543
Rent	-10% $-604	-5% $-535	+0% $-466	+5% $-397	+10% $-329
Rate	-1.0pp $-398	-0.5pp $-432	base $-466	+0.5pp $-501	+1.0pp $-537

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4200 Parklawn Ave Unit 4207 Minneapolis, MN	1.0	1.0	750	$1,185	$1.58	45d	1	0.07mi
4200 Parklawn Ave Unit 4205 Minneapolis, MN	1.0	1.0	750	$1,235	$1.65	45d	1	0.07mi
4141 Parklawn Ave Minneapolis, MN	1.0–2.0	1.0	820	$1,765	$2.15	7d	8	0.08mi
7340 Gallagher Dr Minneapolis, MN	2.0	1.0–2.0	719	$1,955	$2.72	4d	12	0.10mi
4201 Parklawn Ave Unit 305 Minneapolis, MN	1.0	1.0	827	$1,295	$1.57	26d	1	0.10mi
4251 Parklawn Ave Unit 106 Edina, MN	1.0	1.0	700	$1,245	$1.78	45d	1	0.12mi
4480 Parklawn Ave Minneapolis, MN	1.0–3.0	1.0–2.0	950	$1,825	$1.92	4d	4	0.28mi
7161 France Ave S Minneapolis, MN	2.0	1.0–2.0	782	$2,415	$3.09	1d	8	0.43mi
7230 York Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	985	$2,195	$2.23	0d	9	0.49mi
3650 Hazelton Rd Minneapolis, MN	2.0	1.0–2.5	1194	$7,438	$6.23	0d	17	0.51mi
7330 York Ave S #101 Minneapolis, MN	1.0	1.0	700	$1,295	$1.85	26d	1	0.53mi
7330 York Ave S #101 Minneapolis, MN	1.0	1.0	700	$1,295	$1.85	45d	1	0.53mi
4620 77th St W Minneapolis, MN	1.0–2.0	1.0–2.0	856	$3,199	$3.74	0d	30	0.54mi
4040 W 70th St Minneapolis, MN	1.0–2.0	1.0	834	$1,800	$2.16	3d	7	0.55mi
4660 77th St W Minneapolis, MN	1.0–2.0	1.0–2.0	723	$2,599	$3.59	0d	35	0.62mi
3400 Edinborough Way Unit 617 Bloomington, MN	2.0	2.0	925	$2,140	$2.31	6d	1	0.68mi
7201 York Ave S Minneapolis, MN	1.0–3.0	1.0–3.0	1135	$2,232	$1.97	0d	16	0.69mi
6725 York Ave S Minneapolis, MN	2.0	1.0–2.0	994	$3,013	$3.03	0d	18	1.07mi
5100 W 82nd St Minneapolis, MN	2.0	1.0–2.0	870	$2,360	$2.71	0d	15	1.11mi
7400 Penn Ave S Minneapolis, MN	1.0–2.0	1.0	725	$1,325	$1.83	18d	2	1.18mi
3250 W 66th St Minneapolis, MN	1.0–2.0	1.0–2.0	904	$2,670	$2.95	0d	3	1.20mi
6705 Vincent Ave S Minneapolis, MN	2.0	2.0	1050	$2,075	$1.98	45d	1	1.20mi
8200 Stanley Rd Minneapolis, MN	1.0–2.0	1.0	790	$1,437	$1.82	5d	6	1.21mi
7444 Oliver Ave S Minneapolis, MN	1.0	1.0	700	$1,095	$1.56	4d	1	1.25mi
6400 Barrie Rd Minneapolis, MN	1.0–3.0	1.0–2.0	1015	$2,022	$1.99	0d	11	1.29mi
6455 York Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	1121	$1,999	$1.78	5d	4	1.33mi
6455 York Ave S Minneapolis, MN	1.0	1.0	982	$1,499	$1.53	45d	2	1.33mi
8101 Normandale Lake Blvd Minneapolis, MN	2.0	1.0–2.0	918	$2,884	$3.14	0d	21	1.35mi
8050 Queen Ave S Minneapolis, MN	1.0	1.0	700	$1,250	$1.79	14d	1	1.36mi
5800 American Blvd W Minneapolis, MN	2.0	1.0–2.5	915	$4,650	$5.08	0d	20	1.37mi
2702 W 66th St Minneapolis, MN	3.0	2.0	1012	$2,300	$2.27	16d	1	1.38mi
5400 W 70th St Minneapolis, MN	2.0	1.5	936	$1,499	$1.60	7d	2	1.46mi
8055 Penn Ave S Bloomington, MN	1.0–2.0	1.0–2.5	1133	$2,695	$2.38	0d	21	1.47mi
6300 York Ave S Apt 307 Edina, MN	2.0	1.0	1050	$1,525	$1.45	45d	1	1.48mi

HOA detail condo

• Monthly dues: $958 · $11,496/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $136,000 Active 86 DOM
2. 2026-06-18
   days on market $136,000 Active 83 DOM
3. 2026-06-17
   days on market $136,000 Active 82 DOM
4. 2026-06-16
   days on market $136,000 Active 81 DOM
5. 2026-06-15
   days on market $136,000 Active 80 DOM
6. 2026-06-13
   days on market $136,000 Active 78 DOM
7. 2026-06-13
   days on market $136,000 Active 77 DOM
8. 2026-06-09
   days on market $136,000 Active 74 DOM
9. 2026-06-08
   days on market $136,000 Active 73 DOM
10. 2026-06-07
    days on market $136,000 Active 72 DOM
11. 2026-06-04
    days on market $136,000 Active 69 DOM
12. 2026-06-03
    days on market $136,000 Active 68 DOM
13. 2026-06-02
    days on market $136,000 Active 67 DOM
14. 2026-06-01
    days on market $136,000 Active 66 DOM
15. 2026-05-31
    days on market $136,000 Active 65 DOM
16. 2026-03-27
    listed $136,000 Active 1190-char remark

    Show marketing remark (1190 chars)

    Beautifully updated, move-in-ready condo in a wonderful community in the heart of Edina! This unit boasts a rare gem - a kitchen layout that's open and inviting. With an exhaust hood that vents to the outside, you can cook with confidence and enjoy peace of mind in your kitchen. The nicely renovated kitchen features stainless steel appliances (including a new dishwasher) and granite countertops. The heated garage keeps your car warm in the winter and cooler in the summer. Amenities include a party room with kitchen, workout room, sauna, outdoor patio with grill, heated underground parking, car wash station, and an in-ground outdoor swimming pool. Association fees cover everything except electricity. Parking #22B. Amuse your guests with pool table games and splash in the swimming pool during hot summer season. Enjoy plenty of additional parking around the building, same-floor laundry, and the option to add in-unit laundry. Conveniently located near the Edina Promenade, the famous and beautiful Centennial Lakes Park, Nine Mile Creek Regional Trail, bus lines, and endless dining and shopping. Rare lower-level unit with a walkout patio—perfect for enjoying the outdoors!

17. 2025-11-15
    historical
18. 2025-04-15
    listed $145,000 Active
19. 2024-10-16
    historical
20. 2024-04-16
    listed $149,900 Active
21. 2005-09-22
    soldstatus $152,000
22. 2005-08-17
    historical
23. 2005-08-15
    soldstatus $152,000
24. 2004-12-27
    listed $164,900
25. 2001-01-12
    soldstatus $120,000
26. 1996-05-31
    soldstatus $77,500

ⓘ 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: $1,371 · $114/mo
• Projected year-2 tax: $1,447 · $121/mo
• Expected delta: +$76/yr (+$6/mo · 5.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,902
• − Mortgage interest: −$7,618
• − Property taxes: −$1,371
• − Insurance: −$680
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − HOA: −$11,496
• − Depreciation: −$3,956
• Taxable loss: −$7,564
• Est. tax savings @ 24.0%: +$1,815
• After-tax cash flow: $-3,778/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: Edina Public School District
• NCES district ID: 2711250
• Math proficiency: 69% ▼ -8.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $100,093
• Composite: 65.8/100
• National rank: #456
• State rank: #5 of 301 in MN

Livability — Edina

• Score: 80/100
• State rank: #82
• US rank: #1926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edina, MN
• County: Hennepin County · 1,150,272 people
• City population: 38,943
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 14,192
• Household income: $79,884
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 976.0

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 (75%)
• Race & ethnicity: White 75% Asian 9% Black 6% Hispanic / Latino 6% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Lithuanian 4% Romanian 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 5% Other Asian/Pacific 4% Chinese 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: ▼ -158.19%
• Current HPI: 178.3042
• Rent YoY: ▲ 0.42%
• 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

+75.5% since first listed

11 events — show timeline

• 2026-03-27 Listed $136,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-15 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-16 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-22 Sold (Public Records) $152,000 Public Records
• 2005-08-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-15 Sold (MLS) $152,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-27 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-01-12 Sold (Public Records) $120,000 Public Records
• 1996-05-31 Sold (Public Records) $77,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,371 · -14.4% YoY. Source: county tax records.