3438 Knox Ave N · Minneapolis, MN 55412

$160,000

2 bd · 1.0 ba · 704 sqft · SingleFamily public records · 20 Days on market

Built 1917 5,227 sqft lot $227/sqft · 23% below area Est $208k · 23% under

---

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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Rent growth +4.1/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming home in great condition. A spacious porch with full windows greets you as you enter the home. Recent updates include newer windows and roof! Spacious eat-in kitchen plus 2 bedrooms and an updated full bath on main floor. Hardwood floors throughout main level. Unfinished basement for added storage. Nice level lot with extra parking in the rear.

Key facts

• Unfinished basement
• Newer windows
• Spacious porch

Tags

• SPACIOUS PORCH
• NEWER WINDOWS
• NEW ROOF
• SPACIOUS EAT-IN KITCHEN
• HARDWOOD FLOORS
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $64 ($767/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 $142k (11.1% below list).
• Recommended offer: $142k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+6.3%/yr); 169 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $102k; list at $160k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,252 (11.1% below list)

Questions for the listing agent

1. Built in 1917 — 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: 0.89% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 9.4

CMA / ARV

• ARV (median comp): $207,651
• List price: $160,000
• Delta: -22.95%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.62×
• Total profit: $-16,910
• Equity at exit: $23,857

10-year hold

• IRR: 3.3%
• Equity multiple: 1.27×
• Total profit: $12,274
• Equity at exit: $13,834

Cash invested: $44,800 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 169
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,423 high
• Mortgage (P&I): −$839
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $64

Break-even live

Break-even rent $1,342

Max offer price $160,000

Occupancy floor 91%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3322 Penn Ave N Minneapolis, MN	1.0	1.0	660	$1,350	$2.05	14d	1	0.33mi
3347 Emerson Ave N #2 Minneapolis, MN	1.0	1.0	746	$1,300	$1.74	3d	1	0.38mi
3753 Girard Ave N Minneapolis, MN	1.0–2.0	1.0	687	$1,450	$2.11	18d	8	0.45mi
1315 N Dowling Ave Unit 306 Minneapolis, MN	1.0	1.0	750	$1,250	$1.67	4d	1	0.48mi
3606 N Bryant Ave Unit 2 Minneapolis, MN	1.0	1.0	600	$1,250	$2.08	44d	1	0.60mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	15d	3	0.95mi
4055 N Lyndale Ave Unit 1 Minneapolis, MN	1.0	1.0	650	$945	$1.45	44d	1	1.02mi
4055 Lyndale Ave N Minneapolis, MN	1.0	1.0	650	$945	$1.45	4d	1	1.02mi
4253 Webber Pkwy Minneapolis, MN	1.0	1.0	700	$1,295	$1.85	24d	1	1.16mi
3600 France Ave N Minneapolis, MN	1.0	1.0	619	$1,745	$2.82	2d	12	1.29mi
801 N 21st Ave Unit 204 Minneapolis, MN	1.0	1.0	750	$875	$1.17	44d	1	1.38mi
801 21st Ave N Minneapolis, MN	1.0	1.0	750	$875	$1.17	4d	2	1.38mi
3711 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0	675	$1,149	$1.70	24d	1	1.39mi
2652 Marshall St NE Minneapolis, MN	2.0	1.0	700	$1,199	$1.71	44d	1	1.43mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	3d	7	1.45mi

Listing history 15 events

1. 2026-05-07
   status Pending 354-char remark

   Show marketing remark (354 chars)

   Charming home in great condition. A spacious porch with full windows greets you as you enter the home. Recent updates include newer windows and roof! Spacious eat-in kitchen plus 2 bedrooms and an updated full bath on main floor. Hardwood floors throughout main level. Unfinished basement for added storage. Nice level lot with extra parking in the rear.

2. 2026-05-01
   status Active 354-char remark

   Show marketing remark (354 chars)

   Charming home in great condition. A spacious porch with full windows greets you as you enter the home. Recent updates include newer windows and roof! Spacious eat-in kitchen plus 2 bedrooms and an updated full bath on main floor. Hardwood floors throughout main level. Unfinished basement for added storage. Nice level lot with extra parking in the rear.

3. 2026-04-24
   historical Contingent - Inspection 354-char remark

   Show marketing remark (354 chars)

   Charming home in great condition. A spacious porch with full windows greets you as you enter the home. Recent updates include newer windows and roof! Spacious eat-in kitchen plus 2 bedrooms and an updated full bath on main floor. Hardwood floors throughout main level. Unfinished basement for added storage. Nice level lot with extra parking in the rear.

4. 2026-04-17
   listed $160,000 Active 354-char remark

   Show marketing remark (354 chars)

   Charming home in great condition. A spacious porch with full windows greets you as you enter the home. Recent updates include newer windows and roof! Spacious eat-in kitchen plus 2 bedrooms and an updated full bath on main floor. Hardwood floors throughout main level. Unfinished basement for added storage. Nice level lot with extra parking in the rear.

5. 2017-08-31
   soldstatus $102,500 Sold 504-char remark

   Show marketing remark (504 chars)

   This charming 2 bedroom home includes a new bathroom and updated spaces throughout. Arts & Crafts era woodwork is a highlight throughout the main floor, and refinished hardwood floors add to this home?s warm appeal. The basement features laundry, ample storage as well as a bonus room showcasing an attractive laminate over Dri-Core subfloor. All new windows! The exterior is maintenance-free steel siding and includes a custom built shed for implements. Near parks and all that Mpls has to offer!

6. 2017-08-02
   status Pending 504-char remark

   Show marketing remark (504 chars)

   This charming 2 bedroom home includes a new bathroom and updated spaces throughout. Arts & Crafts era woodwork is a highlight throughout the main floor, and refinished hardwood floors add to this home?s warm appeal. The basement features laundry, ample storage as well as a bonus room showcasing an attractive laminate over Dri-Core subfloor. All new windows! The exterior is maintenance-free steel siding and includes a custom built shed for implements. Near parks and all that Mpls has to offer!

7. 2017-07-22
   historical Contingent - Inspection 504-char remark

   Show marketing remark (504 chars)

   This charming 2 bedroom home includes a new bathroom and updated spaces throughout. Arts & Crafts era woodwork is a highlight throughout the main floor, and refinished hardwood floors add to this home?s warm appeal. The basement features laundry, ample storage as well as a bonus room showcasing an attractive laminate over Dri-Core subfloor. All new windows! The exterior is maintenance-free steel siding and includes a custom built shed for implements. Near parks and all that Mpls has to offer!

8. 2017-07-18
   listed $99,900 Active 504-char remark

   Show marketing remark (504 chars)

   This charming 2 bedroom home includes a new bathroom and updated spaces throughout. Arts & Crafts era woodwork is a highlight throughout the main floor, and refinished hardwood floors add to this home?s warm appeal. The basement features laundry, ample storage as well as a bonus room showcasing an attractive laminate over Dri-Core subfloor. All new windows! The exterior is maintenance-free steel siding and includes a custom built shed for implements. Near parks and all that Mpls has to offer!

9. 2014-06-04
   soldstatus $48,000 Sold
10. 2014-06-04
    soldstatus $48,000
11. 2014-05-07
    historical Contingent - Inspection
12. 2014-04-14
    status Active
13. 2014-04-10
    historical
14. 2014-04-01
    listed $49,900 Active
15. 2014-04-01
    listed $49,900

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,850 · $154/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: $17,070
• − Mortgage interest: −$8,962
• − Property taxes: −$1,850
• − Insurance: −$800
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$4,655
• Taxable loss: −$1,928
• Est. tax savings @ 24.0%: +$463
• After-tax cash flow: $1,229/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+220.6% since first listed

15 events — show timeline

• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-31 Sold (MLS) $102,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-18 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-04 Sold (MLS) $48,000 LSAR
• 2014-06-04 Sold (MLS) $48,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-01 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-01 Listed $49,900 LSAR

Property tax history

+6.8%/yr

Latest (2025): $1,850 · +18.2% YoY. Source: county tax records.