9624 Peony Ln N · Maple Grove, MN 55311

$258,900

2 bd · 1.5 ba · 1,489 sqft · Condo public records · 45 Days on market

Built 2001 $174/sqft · 10% below area Est $289k · 10% under $290/mo HOA · 13% 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 +12.1/15.0
• Cash flow +9.1/30.0
• Schools +4.2/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HIGHLY UPGRADED TOWN HOME IN DESIRABLE MAPLE GROVE LOCATION! FEATURES INCLUDE REAL OAK & BAMBOO HWD FLOORS, NEW CARPET, STAINLESS STEEL APPLIANCES, TILE COUNTER TOPS, LG MASTER BEDROOM W/LG WALK IN CLOSET. HOME THEATRE SET UP IN LOFT. THIS IS A MUST SEE!

Key facts

• $290 HOA
• 2 garage spots
• Built 2001

Property features AI

Finance

• HOA & community: HOA: New Concepts Management; Monthly association fee (around $290) covering hazard insurance, grounds maintenance and professional management; Community amenities include patio

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Attached residential property; Two levels; Main entry on main level
• Construction: Slab foundation; Foundation area approximately 620
• Exterior features: Stone and vinyl exterior; Patio; Common lot

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Two bedrooms (primary bedrooms located on upper level)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bath (upper level); One half bath (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Natural woodwork; Walk-in closet; Patio; In-ground sprinkler
• Laundry & utility: Washer and dryer included; Second-floor laundry; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (11.2% below list).
• Recommended offer: $224k (13.6% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.4% in Maple Grove — 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 81/100 on livability (#54 in MN, #1,353 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D, cost of living D.
• Osseo Public School District (suburban): math 42% / reading 51% proficiency, ranked #129 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rush Creek Elementary (math 81% / reading 78%, grade A, #12 of 857 statewide, top 2%, 774 students, 18% FRL); Maple Grove Middle School (math 45% / reading 58%, grade C, #65 of 258 statewide, top 26%, 1,598 students, 30% FRL); Maple Grove Senior High (math 53% / reading 69%, grade C+, #42 of 471 statewide, top 9%, 2,324 students, 21% FRL).
• Zoned-school proficiency averages 64% at this address vs 46% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Osseo Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.9%/yr); 304 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent is only 18% of the median local income ($154k/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 $2k of loan paydown is wiped out by about $8k 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 45 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $155k; list at $259k implies a 67% gain — meaningful room to come down on a strong offer.

Recommended offer $223,767 (13.6% 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 45 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 9.4

CMA / ARV

• ARV (median comp): $288,609
• List price: $258,900
• Delta: -10.29%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.86% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.34×
• Total profit: $-47,642
• Equity at exit: $38,603

10-year hold

• IRR: -5.1%
• Equity multiple: 0.62×
• Total profit: $-27,482
• Equity at exit: $22,385

Cash invested: $72,492 (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 55311

• Rents YoY: 5.9%
• Active inventory: 304
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,299 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$259 /mo · $3,112/yr
• Insurance: −$108
• HOA: −$290
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-199

Break-even live

Break-even rent $2,551

Max offer price $223,767

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-126	+0% $-199	+5% $-272	+10% $-345
Rent	-10% $-380	-5% $-290	+0% $-199	+5% $-108	+10% $-17
Rate	-1.0pp $-68	-0.5pp $-133	base $-199	+0.5pp $-266	+1.0pp $-334

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: $64,725
• Closing costs: $7,767
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18037 96th Ave N Maple Grove, MN	2.0	2.0	1597	$2,150	$1.35	19d	1	0.08mi
9585 Queensland Ln N Maple Grove, MN	2.0	2.0	1489	$2,195	$1.47	16d	1	0.16mi
17250 98th Way N Maple Grove, MN	2.0–3.0	1.5–2.5	1705	$2,565	$1.50	1d	78	0.50mi
9820 Garland Ln N Maple Grove, MN	3.0	1.0–2.0	990	$2,424	$2.45	0d	36	0.57mi
9325 Garland Ave Maple Grove, MN	1.0–3.0	1.0–2.0	1094	$2,108	$1.93	0d	20	0.63mi
17610 102nd Pl N Maple Grove, MN	2.0–4.0	2.5–3.5	2021	$2,799	$1.38	0d	16	0.83mi
9775 Grove Cir N Maple Grove, MN	1.0–2.0	1.0–2.0	1116	$2,970	$2.66	1d	3	1.08mi

HOA detail condo

• Monthly dues: $290 · $3,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $258,900 Active 45 DOM
2. 2026-06-18
   days on market $258,900 Active 42 DOM
3. 2026-06-17
   days on market $258,900 Active 41 DOM
4. 2026-06-16
   days on market $258,900 Active 40 DOM
5. 2026-06-15
   days on market $258,900 Active 39 DOM
6. 2026-06-13
   pricedays on market $258,900 Active 37 DOM
7. 2026-06-09
   days on market $259,500 Active 33 DOM
8. 2026-06-08
   days on market $259,500 Active 32 DOM
9. 2026-06-07
   days on market $259,500 Active 31 DOM
10. 2026-06-04
    days on market $259,500 Active 28 DOM
11. 2026-06-03
    days on market $259,500 Active 27 DOM
12. 2026-06-02
    days on market $259,500 Active 26 DOM
13. 2026-06-01
    days on market $259,500 Active 25 DOM
14. 2026-05-31
    pricedays on market $259,500 Active 24 DOM
15. 2026-05-08
    listed $259,900 Active 235-char remark
16. 2026-05-02
    historical $259,900 235-char remark
17. 2015-08-13
    soldstatus $155,000
18. 2015-08-12
    soldstatus $155,000 Sold 258-char remark

    Show marketing remark (258 chars)

    HIGHLY UPGRADED TOWN HOME IN DESIRABLE MAPLE GROVE LOCATION! FEATURES INCLUDE REAL OAK & BAMBOO HWD FLOORS, NEW CARPET, STAINLESS STEEL APPLIANCES, TILE COUNTER TOPS, LG MASTER BEDROOM W/LG WALK IN CLOSET. HOME THEATRE SET UP IN LOFT. THIS IS A MUST SEE!

19. 2015-07-31
    historical Contingent - Inspection 258-char remark

    Show marketing remark (258 chars)

    HIGHLY UPGRADED TOWN HOME IN DESIRABLE MAPLE GROVE LOCATION! FEATURES INCLUDE REAL OAK & BAMBOO HWD FLOORS, NEW CARPET, STAINLESS STEEL APPLIANCES, TILE COUNTER TOPS, LG MASTER BEDROOM W/LG WALK IN CLOSET. HOME THEATRE SET UP IN LOFT. THIS IS A MUST SEE!

20. 2015-07-28
    listed $159,900 Active 258-char remark

    Show marketing remark (258 chars)

    HIGHLY UPGRADED TOWN HOME IN DESIRABLE MAPLE GROVE LOCATION! FEATURES INCLUDE REAL OAK & BAMBOO HWD FLOORS, NEW CARPET, STAINLESS STEEL APPLIANCES, TILE COUNTER TOPS, LG MASTER BEDROOM W/LG WALK IN CLOSET. HOME THEATRE SET UP IN LOFT. THIS IS A MUST SEE!

21. 2014-08-04
    historical
22. 2014-06-14
    price $159,900
23. 2014-05-05
    listed $164,900 Active
24. 2009-08-21
    soldstatus $148,000
25. 2009-07-30
    soldstatus $148,000
26. 2009-06-27
    historical
27. 2009-06-01
    listed $149,900
28. 2009-05-28
    historical
29. 2009-04-10
    listed $155,000

ⓘ 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: $3,112 · $259/mo
• Projected year-2 tax: $3,112 · $259/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 ≥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: $27,585
• − Mortgage interest: −$14,502
• − Property taxes: −$3,112
• − Insurance: −$1,294
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − HOA: −$3,480
• − Depreciation: −$7,532
• Taxable loss: −$6,749
• Est. tax savings @ 24.0%: +$1,620
• After-tax cash flow: $-767/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: Osseo Public School District
• NCES district ID: 2725200
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $76,168
• Composite: 42.35/100
• National rank: #3250
• State rank: #129 of 301 in MN

Livability — Maple Grove

• Score: 81/100
• State rank: #54
• US rank: #1353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maple Grove, MN
• County: Hennepin County · 1,150,272 people
• City population: 77,762
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 38,472
• Household income: $153,568
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 497.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Black 7% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 12% · Canada, Vietnam, South Korea
• Languages at home: 87% English-only · Other Indo-European 3% Vietnamese 1% Chinese 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: ▼ -181.69%
• Current HPI: 213.3896
• Rent YoY: ▲ 5.86%
• 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

+67.0% since first listed

17 events — show timeline

• 2026-06-12 Price Changed $258,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-30 Price Changed $259,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Coming Soon $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-13 Sold (Public Records) $155,000 Public Records
• 2015-08-12 Sold (MLS) $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-31 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-28 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-14 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-05 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-21 Sold (Public Records) $148,000 Public Records
• 2009-07-30 Sold (MLS) $148,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-01 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-10 Listed $155,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $3,112 · +4.1% YoY. Source: county tax records.