19 1st St S Unit B908 · Minneapolis, MN 55401

$159,900

2 bd · 2.5 ba · 1,080 sqft · Condo public records · 7 Days on market

Built 1965 $1059/mo HOA · 33% of rent

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Why this score? — see what drove the B- 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 +24.7/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss your chance to own a unit in the River Towers buildings in Down Town Minneapolis. Close to the skyways & bus line! Enjoy the heated pool, exercise room & more. This spacious 2 bedroom unit has so much to offer!

Key facts

• Large windows
• Tons of closet space
• Renovated baths

Tags

• RENOVATED BATHS
• RENOVATED KITCHEN
• NEWER WHITE CABINETS
• LUXURY VINYL FLOORING
• LARGE WINDOWS
• TONS OF CLOSET SPACE

Property features AI

Finance

• Other: Building offers shared rooms such as amusement/party room, community/business/fitness rooms, guest suite and other shared spaces
• Financial info: Rental license: Standard (rental license in place)
• HOA & community: HOA managed by Sudler Management; Monthly association fee; Association amenities include: car wash, laundry, common garden, concrete floors & walls in areas, elevator(s), in-ground sprinkler system, patio, sauna, tennis courts, shared community rooms, exercise room, business center, guest suite, other amenities; Association fee covers: air conditioning, cable TV, controlled access, gas, hazard insurance, heating, internet, lawn care, maintenance grounds, parking, professional management, sewer, shared amenities, snow removal, water

Exterior

• Parking: Assigned parking; Attached heated garage; Underground parking; Contract parking required; Electric vehicle charging station(s)
• Security: 24-hour guard; Security lighting; Controlled access; Lobby entrance
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Attached residential property; One level
• Construction: Concrete construction; Block foundation; Roof older than 8 years
• Exterior features: Corner lot; Stone exterior; Below-ground pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Primary full bath; Main floor 3/4 bath; Main floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor bedroom; Informal dining area (kitchen/dining or living/dining); Stainless steel appliances; Cable available; City view
• Laundry & utility: Laundry facilities (building coin-op and/or owned laundry listed in association amenities)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 8.8% 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 (+5.5%/yr); 160 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 runs 34% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $437 of equity ($1k loan paydown + $-669 appreciation (-0.4% local appreciation)).
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.4% appreciation + 5.5% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 33% of rent.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.01% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.95%
• DSCR: 1.40
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.42% appreciation · 5.49% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.50×
• Total profit: $22,441
• Equity at exit: $43,114

10-year hold

• IRR: 18.8%
• Equity multiple: 3.30×
• Total profit: $103,000
• Equity at exit: $49,247

Cash invested: $44,772 (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 55401

• Home prices YoY: -0.2%
• Rents YoY: 5.5%
• Active inventory: 160
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,212 high
• Mortgage (P&I): −$839
• Tax from tax record: −$239 /mo · $2,873/yr
• Insurance: −$67
• HOA: −$1,059
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $334

Break-even live

Break-even rent $2,789

Max offer price $159,900

Occupancy floor 85%

Sensitivity live

Price	-10% $424	-5% $379	+0% $334	+5% $289	+10% $243
Rent	-10% $80	-5% $207	+0% $334	+5% $461	+10% $588
Rate	-1.0pp $414	-0.5pp $375	base $334	+0.5pp $292	+1.0pp $250

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 S Marquette Ave Minneapolis, MN	1.0–2.0	1.0–2.0	970	$2,420	$2.49	3d	12	0.05mi
120 Hennepin Ave Minneapolis, MN	2.0	1.0–2.0	960	$3,665	$3.82	8d	10	0.08mi
222 Hennepin Ave Minneapolis, MN	1.0–2.0	1.0–2.0	994	$4,175	$4.20	2d	12	0.17mi
110 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	885	$3,799	$4.29	3d	20	0.17mi
120 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.5	1039	$3,428	$3.30	2d	19	0.20mi
200 2nd Ave N Minneapolis, MN	2.0	1.0	994	$3,135	$3.15	22d	1	0.23mi
270 Hennepin Ave Minneapolis, MN	3.0	1.0–3.0	1505	$6,755	$4.49	2d	54	0.23mi
212 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.0	1039	$3,125	$3.01	25d	2	0.27mi
212 N 2nd St #204 Minneapolis, MN	2.0	2.0	1178	$3,125	$2.65	4d	1	0.27mi
313 Washington Ave S Minneapolis, MN	2.0	1.0–2.0	836	$3,110	$3.72	3d	9	0.27mi
365 Nicollet Mall Minneapolis, MN	3.0	1.0–3.5	1656	$7,058	$4.26	3d	33	0.28mi
400 Marquette Ave Minneapolis, MN	3.0	1.0–2.0	1103	$4,260	$3.86	2d	14	0.31mi
280 N 2nd St Minneapolis, MN	1.0	1.0	1072	$1,836	$1.71	18d	2	0.31mi
316 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.0	795	$2,723	$3.42	3d	10	0.33mi
465 Nicollet Mall Minneapolis, MN	2.0	1.0–3.0	1153	$4,620	$4.01	2d	14	0.34mi
360 1st St N Minneapolis, MN	1.0–2.0	1.0–2.0	889	$3,036	$3.42	3d	11	0.35mi
101 S 5th St Minneapolis, MN	3.0	1.0–2.0	1249	$3,169	$2.54	3d	35	0.38mi
337 N Washington Ave Minneapolis, MN	2.0	1.0–2.0	796	$2,729	$3.43	2d	30	0.42mi
404 Washington Ave N #404 Minneapolis, MN	1.0	1.0	1108	$2,750	$2.48	44d	1	0.43mi
250 Portland Ave Minneapolis, MN	1.0–2.0	1.0–2.0	902	$3,372	$3.74	3d	11	0.44mi
225 Portland Ave Minneapolis, MN	2.0	1.0–2.0	837	$3,420	$4.08	3d	70	0.46mi
608 2nd Ave S Minneapolis, MN	2.0	1.0–2.0	999	$2,300	$2.30	3d	34	0.48mi
511 S 4th St Minneapolis, MN	2.0	1.0–2.0	882	$2,945	$3.34	2d	11	0.48mi
432 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	1067	$2,175	$2.04	3d	6	0.50mi
240 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	1047	$3,875	$3.70	3d	2	0.51mi
250 Park Ave #215 Minneapolis, MN	1.0	1.0	961	$2,350	$2.45	15d	1	0.51mi
205 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	859	$3,158	$3.68	8d	5	0.52mi
360 N 5th Ave Minneapolis, MN	2.0	1.0–2.5	1185	$7,325	$6.18	3d	85	0.52mi
528 Washington Ave N Minneapolis, MN	1.0	1.0	543	$2,629	$4.84	3d	18	0.52mi
600 5th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	915	$3,315	$3.62	2d	9	0.56mi
614 N 1st St Minneapolis, MN	1.0	1.0	920	$1,818	$1.98	8d	6	0.57mi
240 Chicago Ave Minneapolis, MN	2.0	1.0–2.0	825	$3,036	$3.68	2d	11	0.59mi
700 S 4th St Minneapolis, MN	2.0	1.0–2.0	897	$3,995	$4.45	2d	26	0.59mi
616 N Washington Ave Unit 1014615P Minneapolis, MN	2.0	1.0	990	$4,785	$4.83	4d	1	0.59mi
616 N Washington Ave Unit 1014635P Minneapolis, MN	1.0	1.0	742	$4,168	$5.62	8d	1	0.59mi
616 N Washington Ave Unit 1014633P Minneapolis, MN	1.0	1.0	742	$3,776	$5.09	44d	1	0.59mi
607 N Washington Ave Minneapolis, MN	1.0–2.0	1.0–2.0	845	$2,460	$2.91	2d	4	0.60mi
608 N 3rd St Minneapolis, MN	2.0	1.0–2.0	746	$3,582	$4.80	2d	64	0.60mi
315 N 7th Ave Minneapolis, MN	2.0	1.0–2.0	748	$3,448	$4.61	2d	12	0.62mi
811 Washington Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	862	$3,099	$3.60	20d	9	0.62mi

HOA detail condo

• Monthly dues: $1,059 · $12,708/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $159,900 Active 7 DOM
2. 2026-06-17
   days on market $159,900 Active 6 DOM
3. 2026-06-16
   days on market $159,900 Active 5 DOM
4. 2026-06-15
   days on market $159,900 Active 4 DOM
5. 2026-06-13
   pricedays on marketlisting id $159,900 Active 2 DOM
6. 2026-06-09
   days on market $166,900 Active 19 DOM
7. 2026-06-08
   days on market $166,900 Active 18 DOM
8. 2026-06-07
   days on market $166,900 Active 17 DOM
9. 2026-06-04
   days on market $166,900 Active 14 DOM
10. 2026-06-03
    days on market $166,900 Active 13 DOM
11. 2026-06-02
    days on market $166,900 Active 12 DOM
12. 2026-06-01
    days on market $166,900 Active 11 DOM
13. 2026-05-31
    days on market $166,900 Active 10 DOM
14. 2026-05-19
    listed $166,900 Active
15. 2023-10-06
    status Active
16. 2023-09-21
    historical Contingent - Subject to Statutory Rescission
17. 2023-09-12
    price $180,000
18. 2023-08-24
    price $184,000
19. 2023-07-29
    price $189,000
20. 2023-06-29
    status Active
21. 2023-06-15
    listed $199,000 Active
22. 2006-03-15
    soldstatus $180,888
23. 2006-03-02
    soldstatus $180,888 229-char remark

    Show marketing remark (229 chars)

    Don't miss your chance to own a unit in the River Towers buildings in Down Town Minneapolis. Close to the skyways & bus line! Enjoy the heated pool, exercise room & more. This spacious 2 bedroom unit has so much to offer!

24. 2006-01-23
    historical 229-char remark

    Show marketing remark (229 chars)

    Don't miss your chance to own a unit in the River Towers buildings in Down Town Minneapolis. Close to the skyways & bus line! Enjoy the heated pool, exercise room & more. This spacious 2 bedroom unit has so much to offer!

25. 2006-01-09
    listed $184,888 229-char remark

    Show marketing remark (229 chars)

    Don't miss your chance to own a unit in the River Towers buildings in Down Town Minneapolis. Close to the skyways & bus line! Enjoy the heated pool, exercise room & more. This spacious 2 bedroom unit has so much to offer!

26. 1993-10-28
    soldstatus $62,000
27. 1991-10-01
    soldstatus $55,000

ⓘ 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: $2,873 · $239/mo
• Projected year-2 tax: $2,873 · $239/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: $38,544
• − Mortgage interest: −$8,957
• − Property taxes: −$2,873
• − Insurance: −$800
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − HOA: −$12,708
• − Depreciation: −$4,652
• Taxable income: $2,388
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $3,434/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): 11,816
• Household income: $113,522
• Rent vs Own: 71.6% rent · 28.4% own
• Severe rent burden: 610.0

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% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 7% Lithuanian 5%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% 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: ▼ -0.42%
• Current HPI: 233.936
• Rent YoY: ▲ 5.49%
• 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

+203.5% since first listed

14 events — show timeline

• 2026-05-19 Listed $166,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-12 Price Changed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-24 Price Changed $184,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-29 Price Changed $189,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-15 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-15 Sold (Public Records) $180,888 Public Records
• 2006-03-02 Sold (MLS) $180,888 NORTHSTARMLS as Distributed by MLS Grid
• 2006-01-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-01-09 Listed $184,888 NORTHSTARMLS as Distributed by MLS Grid
• 1993-10-28 Sold (Public Records) $62,000 Public Records
• 1991-10-01 Sold (Public Records) $55,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $2,873 · +11.5% YoY. Source: county tax records.