1203 Morgan Ave N · Minneapolis, MN 55411

$300,000

7 bd · 2.0 ba · 2,364 sqft · Other public records · 29 Days on market

Built 1904 6,534 sqft lot

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.4/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

Key facts

• 6,534 sq ft lot
• Built 1904
• Listed 28 days

Property features AI

Exterior

• Parking: Driveway with other surface; Open parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; More than 2 stories
• Construction: Asphalt roof; Block foundation; Built area includes finished space above grade
• Exterior features: Wood exterior; Corner lot; Lot dimensions approximately 51 x 126

Interior

• Kitchen: Kitchen with window; Range; Refrigerator; Dishwasher
• Bedrooms: 6 bedrooms (multiple bedrooms on upper and main levels)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 2 full bathrooms (one on main floor, one on upper level)
• Heating & cooling: Hot water heating; Window air conditioning units
• Interior features: Separate/formal dining room; Three season porch; Porch; Natural woodwork
• Laundry & utility: Washer; Dryer; Full basement

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath other listed at $300k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $296k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+7.3%/yr); 132 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $3,133/mo this rent would consume 62% of the median local household income ($60k/yr) (locally 1826% 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 $2k of loan paydown is wiped out by about $9k 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 + 7.3% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 9 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.
• Current owner paid $260k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $295,500 (1.5% below list)

Questions for the listing agent

1. Built in 1904 — 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: 1.04% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.98%
• DSCR: 1.27
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-7,587
• Equity at exit: $44,731

10-year hold

• IRR: 11.6%
• Equity multiple: 2.10×
• Total profit: $92,154
• Equity at exit: $25,939

Cash invested: $84,000 (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 55411

• Home prices YoY: -8.7%
• Rents YoY: 7.3%
• Active inventory: 132
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,133 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$358 /mo · $4,299/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $419

Break-even live

Break-even rent $2,603

Max offer price $300,000

Occupancy floor 82%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Morgan Ave N Minneapolis, MN	6.0	2.0	1820	$3,095	$1.70	3d	1	0.27mi
2623 Humboldt Ave N Minneapolis, MN	6.0	2.0	1900	$2,795	$1.47	16d	1	1.20mi

Listing history 45 events

1. 2026-06-18
   days on market $300,000 Active 29 DOM
2. 2026-06-17
   days on market $300,000 Active 28 DOM
3. 2026-06-16
   days on market $300,000 Active 27 DOM
4. 2026-06-15
   days on market $300,000 Active 26 DOM
5. 2026-06-13
   days on market $300,000 Active 24 DOM
6. 2026-06-09
   days on market $300,000 Active 20 DOM
7. 2026-06-08
   days on market $300,000 Active 19 DOM
8. 2026-06-07
   days on market $300,000 Active 18 DOM
9. 2026-06-04
   days on market $300,000 Active 15 DOM
10. 2026-06-03
    days on market $300,000 Active 14 DOM
11. 2026-06-02
    days on market $300,000 Active 13 DOM
12. 2026-06-01
    days on market $300,000 Active 12 DOM
13. 2026-05-31
    days on market $300,000 Active 11 DOM
14. 2026-05-21
    listed $300,000 Active
15. 2026-05-16
    historical $300,000
16. 2024-08-10
    historical $2,500
17. 2024-07-26
    listed $2,500
18. 2022-05-12
    price $2,550
19. 2021-09-17
    soldstatus $260,000
20. 2021-09-01
    soldstatus $260,000 Sold 782-char remark

    Show marketing remark (782 chars)

    Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

21. 2021-07-30
    status Pending 782-char remark

    Show marketing remark (782 chars)

    Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

22. 2021-07-25
    historical Contingent - Inspection 782-char remark

    Show marketing remark (782 chars)

    Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

23. 2021-07-23
    listed $239,900 Active 782-char remark

    Show marketing remark (782 chars)

    Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

24. 2021-07-20
    historical $239,900 782-char remark

    Show marketing remark (782 chars)

    Schedule a showing today for this bright and beautiful Minneapolis home! This large, well-cared for and charming home is situated on a sunny corner lot and is very conveniently located: 10 minutes or less by bike to the NE Minneapolis Arts District and Theodore Wirth Park trails. Within 5 minutes you can drive to Target Field, the Minneapolis Farmer's Market, and the Theodore Wirth golf course. Garden includes mature apple and cherry tree, raspberry and blueberry bushes, and raised beds for much more! Notice the beautiful woodwork, hardwood floors, and large windows throughout taking advantage of the southern exposure. This home is currently designed as a single family home but is zoned multi-family residential so there is an opportunity for it to be turned into a duplex.

25. 2017-10-16
    soldstatus $165,000
26. 2017-10-06
    soldstatus $165,000 Sold 499-char remark

    Show marketing remark (499 chars)

    This home has all the space you need! Large beautiful home on desired sunny corner lot. The natural light from the southern exposure shines through this home. Exterior professionally painted 2015. All new plumbing 2008. Parking pad could be used as slab for new garage. 2 bus lines and Bicycle Nice Ride station very close. 1 mile to Theodore Wirth Park trails and golf course. Garden includes: fruit trees apple, cherry, crab apple, and berry bushes raspberry, blueberry and flowers. Welcome home!

27. 2017-08-31
    status Pending 499-char remark

    Show marketing remark (499 chars)

    This home has all the space you need! Large beautiful home on desired sunny corner lot. The natural light from the southern exposure shines through this home. Exterior professionally painted 2015. All new plumbing 2008. Parking pad could be used as slab for new garage. 2 bus lines and Bicycle Nice Ride station very close. 1 mile to Theodore Wirth Park trails and golf course. Garden includes: fruit trees apple, cherry, crab apple, and berry bushes raspberry, blueberry and flowers. Welcome home!

28. 2017-08-24
    historical Contingent - Inspection 499-char remark

    Show marketing remark (499 chars)

    This home has all the space you need! Large beautiful home on desired sunny corner lot. The natural light from the southern exposure shines through this home. Exterior professionally painted 2015. All new plumbing 2008. Parking pad could be used as slab for new garage. 2 bus lines and Bicycle Nice Ride station very close. 1 mile to Theodore Wirth Park trails and golf course. Garden includes: fruit trees apple, cherry, crab apple, and berry bushes raspberry, blueberry and flowers. Welcome home!

29. 2017-08-04
    listed $169,000 Active 499-char remark

    Show marketing remark (499 chars)

    This home has all the space you need! Large beautiful home on desired sunny corner lot. The natural light from the southern exposure shines through this home. Exterior professionally painted 2015. All new plumbing 2008. Parking pad could be used as slab for new garage. 2 bus lines and Bicycle Nice Ride station very close. 1 mile to Theodore Wirth Park trails and golf course. Garden includes: fruit trees apple, cherry, crab apple, and berry bushes raspberry, blueberry and flowers. Welcome home!

30. 2008-08-07
    soldstatus $50,000
31. 2008-06-12
    historical
32. 2007-08-29
    listed $49,900
33. 2007-08-27
    historical
34. 2007-05-29
    listed $126,250
35. 2006-02-10
    soldstatus $245,000
36. 2005-09-30
    soldstatus $245,000
37. 2005-09-16
    historical
38. 2005-07-29
    listed $237,000
39. 2005-05-11
    historical
40. 2004-11-16
    listed $204,900
41. 2004-09-14
    soldstatus $130,000
42. 2004-08-09
    soldstatus $130,000
43. 2004-07-01
    historical
44. 2004-05-07
    listed $140,000
45. 1991-11-01
    soldstatus $23,000

ⓘ 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: $4,299 · $358/mo
• Projected year-2 tax: $4,299 · $358/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: $37,599
• − Mortgage interest: −$16,805
• − Property taxes: −$4,299
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,008
• − Management: −$3,008
• − Depreciation: −$8,727
• Taxable income: $253
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $4,965/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): 27,741
• Household income: $60,225
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1826.0

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 0.68)
• Race & ethnicity: Black 49% White 23% Two or more races 11% Hispanic / Latino 11% Asian 9%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 1%
• Foreign-born: 19% · Canada, Guatemala
• Languages at home: 68% English-only · Other Asian/Pacific 8% Spanish 8%

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: ▼ -33.91%
• Current HPI: 356.6758
• Rent YoY: ▲ 7.35%
• 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

+1204.3% since first listed

32 events — show timeline

• 2026-05-21 Listed $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-16 Coming Soon $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-10 Rental Removed $2,500 SHOWMOJO
• 2024-07-26 Listed for Rent $2,500 SHOWMOJO
• 2022-05-12 Price Changed $2,550 RENT.
• 2021-09-17 Sold (Public Records) $260,000 Public Records
• 2021-09-01 Sold (MLS) $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-23 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-20 Coming Soon $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-16 Sold (Public Records) $165,000 Public Records
• 2017-10-06 Sold (MLS) $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-04 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-07 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-29 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-29 Listed $126,250 NORTHSTARMLS as Distributed by MLS Grid
• 2006-02-10 Sold (Public Records) $245,000 Public Records
• 2005-09-30 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-29 Listed $237,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-16 Listed $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-14 Sold (Public Records) $130,000 Public Records
• 2004-08-09 Sold (MLS) $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-07 Listed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 1991-11-01 Sold (Public Records) $23,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $4,299 · +22.6% YoY. Source: county tax records.