450 Ford Rd #303 · St. Louis Park, MN 55426

$61,000

1 bd · 1.0 ba · 808 sqft · Condo public records · 10 Days on market

Built 1972 $578/mo HOA · 36% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent location on this oversized top floor 1 Bedroom Condo. Very large bedroom & living room with covered deck over looking courtyard. Heated underground garage w/car wash. Additional outdoor parking. Amenities include indoor pool, hot tub, exercise & party room. Close to Ridgedale, West End, Downtown & Bus line.

Key facts

• Hot tub
• Exercise room
• Sauna

Tags

• INDOOR POOL
• HOT TUB
• EXERCISE ROOM
• SAUNA
• PARTY ROOM
• HEATED UNDERGROUND PARKING

Property features AI

Finance

• Other: Lot approximately 3.609 acres with city street frontage and public road maintenance
• Financial info: Conventional mortgage types accepted
• HOA & community: Association: First Service Residential; Monthly association fee ($578) covering cable TV, controlled access, gas, hazard insurance, heating, internet, lawn care, grounds maintenance, parking, professional management, sewer, shared amenities, snow removal, water; Building amenities include car wash, coin-op leased laundry, elevators, lobby entrance, patio, sauna, trails, amusement/party room, exercise room

Exterior

• Parking: Attached underground heated garage with door opener; 4 garage spaces
• Security: Controlled access
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers, 100 amp; Power provided by Xcel Energy
• Home design: Attached residential unit; One-story layout; Shared indoor heated below-ground pool
• Construction: Block foundation; Flat roof (age 8 years or less)
• Exterior features: Deck; Stone exterior; Balcony; Cable available; Patio (building/common)

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Disposal; Exhaust fan
• Bedrooms: One bedroom (main level, approx. 15 x 14)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Boiler heating; No central cooling
• Interior features: Dishwasher; Disposal; Exhaust fan; Range; Refrigerator; Informal dining area / living-dining combo; Exercise room (main level); Living room (main level)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $61k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $61k).
• Cap rate 11.7% vs local median 3.1% in St. Louis Park — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hopkins Public School District (suburban): math 48% / reading 57% proficiency, ranked #75 of 301 in MN (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.9%/yr); 138 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $422 of loan paydown is wiped out by about $2k 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 + 1.9% rent growth), your $17k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 30y 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: flood insurance adds $66/mo; HOA is 36% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.64% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.23%
• DSCR: 1.86
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.87% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $1,921
• Equity at exit: $9,095

10-year hold

• IRR: 10.7%
• Equity multiple: 1.77×
• Total profit: $13,105
• Equity at exit: $5,274

Cash invested: $17,080 (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 55426

• Rents YoY: 1.9%
• Active inventory: 138
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$320
• Tax est. 1.5%: −$76 /mo · $915/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$578
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $207

Break-even live

Break-even rent $1,349

Max offer price $61,000

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: $15,250
• Closing costs: $1,830
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Ford Rd Minneapolis, MN	1.0–3.0	1.0–2.0	1025	$1,395	$1.36	1d	9	0.09mi
275 Shelard Pkwy St Louis Park, MN	1.0–2.0	1.0–2.0	900	$1,410	$1.57	5d	11	0.14mi
9920 Wayzata Blvd Minneapolis, MN	2.0	1.0–2.5	942	$2,470	$2.62	1d	28	0.17mi
301 Shelard Pkwy Minneapolis, MN	3.0	1.0–2.0	987	$1,966	$1.99	1d	16	0.17mi
135 Nathan Ln N Minneapolis, MN	2.0	1.0–2.0	800	$1,568	$1.96	1d	20	0.34mi
200 Nathan Ln N Plymouth, MN	1.0–2.0	1.0–2.0	926	$1,606	$1.73	1d	5	0.36mi
10101 Highway 55 Minneapolis, MN	1.0–2.0	1.0	805	$1,275	$1.58	5d	6	0.49mi
10010 6th Ave N Minneapolis, MN	1.0–3.0	1.0–2.0	1100	$1,716	$1.56	1d	22	0.66mi
9201 Golden Valley Rd Minneapolis, MN	1.0–2.0	1.0–2.0	926	$1,600	$1.73	1d	19	0.74mi
9140 Golden Valley Rd Minneapolis, MN	1.0–2.0	1.0	662	$1,195	$1.80	3d	5	0.83mi
11700 Wayzata Blvd Hopkins, MN	1.0–3.0	1.0–2.0	1170	$1,685	$1.44	1d	14	1.06mi
11816 Wayzata Blvd Hopkins, MN	1.0–2.0	1.0–2.0	940	$1,595	$1.70	1d	16	1.18mi
8350 Golden Valley Rd Golden Valley, MN	1.0–2.0	1.0–2.0	995	$1,760	$1.77	3d	9	1.20mi
640 Wisconsin Ave N Golden Valley, MN	1.0–3.0	1.0–2.0	1118	$1,820	$1.63	1d	99	1.27mi
1020 W Medicine Lake Dr Minneapolis, MN	1.0–3.0	1.0–2.0	1272	$1,899	$1.49	3d	4	1.27mi
1305 Flag Ave N Unit 2 Golden Valley, MN	1.0	1.0	800	$1,650	$2.06	17d	1	1.30mi
1305 Flag Ave N Unit Labs Golden Valley, MN	1.0	1.0	850	$1,500	$1.76	10d	1	1.30mi
10201 Cedar Lake Rd S Unit 201-101 Minnetonka, MN	2.0	1.5	1038	$1,499	$1.44	17d	1	1.47mi
1919 Ymca Ln Hopkins, MN	1.0–2.0	1.0–2.0	1023	$1,530	$1.50	1d	5	1.49mi

HOA detail condo

• Monthly dues: $578 · $6,936/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-18
   days on market $61,000 Active 10 DOM
2. 2026-06-17
   days on market $61,000 Active 9 DOM
3. 2026-06-16
   days on market $61,000 Active 8 DOM
4. 2026-06-15
   days on market $61,000 Active 7 DOM
5. 2026-06-13
   days on market $61,000 Active 5 DOM
6. 2026-06-13
   days on market $61,000 Active 4 DOM
7. 2026-06-09
   remarks 496-char remark
8. 2026-06-09
   listed $61,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,340
• − Mortgage interest: −$3,417
• − Property taxes: −$915
• − Insurance: −$1,102
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$6,936
• − Depreciation: −$1,775
• Taxable income: $2,101
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $1,982/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: Hopkins Public School District
• NCES district ID: 2714260
• Math proficiency: 48% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $66,915
• Composite: 46.44/100
• National rank: #2448
• State rank: #75 of 301 in MN

Livability — St. Louis Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Louis Park, MN
• County: Hennepin County · 1,150,272 people
• City population: 60,356
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 25,251
• Household income: $99,347
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 761.0

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 (76%)
• Race & ethnicity: White 76% Two or more races 8% Hispanic / Latino 6% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 10% Romanian 4% Scottish 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -353.30%
• Current HPI: 267.0902
• Rent YoY: ▲ 1.87%
• 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

+103.3% since first listed

26 events — show timeline

• 2026-06-08 Listed $61,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-12-14 Sold (Public Records) $78,088 Public Records
• 2016-10-26 Sold (MLS) $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-09 Price Changed $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-12 Listed $82,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-20 Sold (Public Records) $67,000 Public Records
• 2014-07-25 Sold (MLS) $67,000 LSAR
• 2014-07-25 Sold (MLS) $67,000 RASM
• 2014-07-25 Sold (MLS) $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Price Changed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-01 Price Changed $79,999 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-19 Listed $82,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-19 Listed $75,000 LSAR
• 2014-02-19 Listed $75,000 RASM
• 1996-09-18 Sold (Public Records) $47,200 Public Records
• 1996-07-25 Sold (Public Records) $32,000 Public Records
• 1996-07-25 Sold (MLS) $47,200 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-04-15 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-05-27 Sold (Public Records) $30,000 Public Records

Property tax history

+17.6%/yr

Latest (2025): $6,024 · +4.0% YoY. Source: county tax records.