3150 Excelsior Blvd #207 · Minneapolis, MN 55416

$150,000

1 bd · 1.0 ba · 728 sqft · Condo public records · 37 Days on market

Built 1966 $206/sqft · 22% below area Est $193k · 22% under $511/mo HOA · 31% of rent ↓ 22% since listing

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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 +15.0/15.0
• Cash flow +7.1/30.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Location doesn't get much better than this. Tucked just steps from Lake Bde Maka Ska, the Greenway, and some of the best dining and shopping along the chain of lakes, this one-bedroom condo puts you right in the middle of everything worth being close to. Inside, the layout is smart and efficient — updated kitchen and bath, in-unit laundry, and underground parking. Step outside onto your large private balcony when you want fresh air without going anywhere. The building adds a rooftop deck, fitness room, and party room for when you do. Low-maintenance living in a neighborhood people genuinely love.

Key facts

• Rooftop deck
• Party room
• Updated kitchen

Tags

• UPDATED KITCHEN
• IN UNIT LAUNDRY
• LARGE PRIVATE BALCONY
• ROOFTOP DECK
• FITNESS ROOM
• PARTY ROOM

Property features AI

Finance

• Other: Shared building rooms include amusement/party room, exercise room, and other shared spaces
• HOA & community: Association: Cities Management; Monthly association fee of $511; Association amenities include coin-op laundry (owned), lobby entrance, shared amenities, parking, professional management, controlled access, heating, water, sewer, cable TV, hazard insurance, lawn care, grounds maintenance, snow removal

Exterior

• Parking: Underground parking; Guest parking; One garage space (stall #16)
• Security: Intercom system; Security system; Controlled access (included in association)
• Utilities: City water; City sewer (in street); Natural gas; Electric with circuit breakers
• Home design: Attached residential property; One-story layout; Main entry level is main floor
• Construction: Block foundation; Block foundation area
• Exterior features: Deck (26 x 6); Stone exterior; Public transit within six blocks; City street frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Microwave; Stainless steel appliances; Eat-in kitchen
• Bedrooms: One bedroom on the main level (12 x 17)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level (7 x 8)
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Hardwood floors; Intercom system; Security system; Eat-in kitchen; Storage/locker; Accessible elevator installed
• Laundry & utility: In-unit laundry (washer and dryer); Laundry room on main level; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (24.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $113k (24.8% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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 (+2.3%/yr); 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $1k of loan paydown is wiped out by about $4k 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 37 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y 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 31% of rent.

Recommended offer $112,775 (24.8% 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 37 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 4.61%
• Cash-on-cash: -6.02%
• DSCR: 0.73
• GRM: 7.5

CMA / ARV

• ARV (median comp): $192,632
• List price: $150,000
• Delta: -22.13%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -27.6%
• Equity multiple: 0.08×
• Total profit: $-38,633
• Equity at exit: $22,365

10-year hold

• IRR: -29.5%
• Equity multiple: -0.30×
• Total profit: $-54,578
• Equity at exit: $12,969

Cash invested: $42,000 (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 55416

• Rents YoY: 2.3%
• Active inventory: 205
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,669 high
• Mortgage (P&I): −$787
• Tax from tax record: −$169 /mo · $2,031/yr
• Insurance: −$62
• HOA: −$511
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-211

Break-even live

Break-even rent $1,936

Max offer price $112,775

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3420 List Pl Minneapolis, MN	2.0	1.0–2.0	846	$2,220	$2.62	1d	23	0.06mi
3430 List Pl Minneapolis, MN	1.0–3.0	1.0–2.0	1118	$1,435	$1.28	7d	1	0.11mi
3140 Chowen Ave S Minneapolis, MN	2.0	1.0–2.0	760	$1,650	$2.17	2d	19	0.13mi
3050 Abbott Ave S Minneapolis, MN	2.0	1.0–2.0	823	$2,218	$2.69	7d	1	0.14mi
3144 Chowen Ave S Minneapolis, MN	2.0	1.0–2.0	828	$2,952	$3.56	1d	5	0.17mi
3708 W 32nd St Minneapolis, MN	1.0	1.0	615	$1,138	$1.85	20d	2	0.18mi
3031 Ewing Ave S Minneapolis, MN	1.0	1.0	587	$1,245	$2.12	3d	3	0.23mi
3820 W 31st St Minneapolis, MN	1.0	1.0	690	$1,670	$2.42	10d	3	0.30mi
3029 France Ave S Minneapolis, MN	1.0–2.0	1.0	875	$1,195	$1.37	3d	11	0.32mi
3036 W Lake St Minneapolis, MN	2.0	1.0–2.0	919	$1,970	$2.14	2d	15	0.35mi
3118 W Lake St Minneapolis, MN	3.0	1.0–2.0	1005	$2,083	$2.07	1d	15	0.35mi
3100 W Lake St Minneapolis, MN	1.0–2.0	1.0–2.0	844	$1,715	$2.03	1d	15	0.37mi
3030 France Ave S Minneapolis, MN	1.0	1.0	593	$2,199	$3.71	3d	4	0.38mi
3026 W Lake St Unit 201 Minneapolis, MN	1.0	1.0	650	$1,395	$2.15	24d	1	0.38mi
3920 Excelsior Blvd Minneapolis, MN	2.0	1.0–2.0	1050	$2,267	$2.16	1d	16	0.46mi
4301 Park Glen Rd Minneapolis, MN	2.0	1.0–2.0	781	$1,604	$2.05	2d	11	0.56mi
2900 Thomas Ave S Minneapolis, MN	4.0	1.0–3.0	1933	$2,908	$1.50	2d	47	0.57mi
4300 Minnesota 7 St Louis Park, MN	1.0–2.0	1.0	607	$1,095	$1.80	43d	5	0.59mi
3504 Minikahda Ct St Louis Park, MN	2.0	1.0	565	$1,270	$2.25	3d	9	0.61mi
3016 Lynn Ave Apt 3B Minneapolis, MN	1.0	1.0	650	$1,115	$1.72	43d	1	0.69mi
2888 Joppa Ave S St Louis Park, MN	1.0–2.0	1.0–1.5	900	$1,275	$1.42	2d	13	0.69mi
4450 Minnetonka Blvd Minneapolis, MN	1.0–2.0	1.0	1000	$1,295	$1.29	5d	7	0.72mi
4501 Park Glen Rd St Louis Park, MN	1.0–2.0	1.0–2.0	904	$1,434	$1.59	2d	23	0.74mi
4320 W 36 1/2 St Minneapolis, MN	1.0–2.0	1.0	685	$1,050	$1.53	15d	3	0.78mi
4320 W 36th 1/2 St Unit 102 Minneapolis, MN	1.0	1.0	550	$975	$1.77	24d	1	0.80mi
4320 W 36th 1/2 St Unit 204 Minneapolis, MN	1.0	1.0	550	$1,000	$1.82	24d	1	0.80mi
3440 Belt Line Blvd Minneapolis, MN	1.0	1.0	706	$1,856	$2.63	2d	14	0.88mi
4531 W 36th St Unit 44-21 St Louis Park, MN	—	1.0	400	$1,099	$2.75	24d	1	0.88mi
3624 Lynn Ave St Louis Park, MN	2.0	1.0–2.0	687	$1,085	$1.58	24d	7	0.89mi
4820 MN-7 St Louis Park, MN	1.0–2.0	1.0–1.5	875	$1,340	$1.53	2d	13	0.92mi
4505 W 36th St St Louis Park, MN	1.0	1.0	700	$1,269	$1.81	3d	3	0.95mi
3510 Belt Line Blvd Minneapolis, MN	1.0	1.0	809	$2,254	$2.78	22d	7	0.96mi
1715 Lagoon Ave Unit 7 Minneapolis, MN	1.0	1.0	720	$1,175	$1.63	14d	1	0.97mi
1715 Lagoon Ave Minneapolis, MN	1.0	1.0	720	$1,175	$1.63	43d	1	0.97mi
1709 Lagoon Ave Minneapolis, MN	1.0	1.0	610	$1,195	$1.96	43d	1	0.98mi
3033 James Ave S Unit 301 Minneapolis, MN	1.0	1.0	650	$1,075	$1.65	43d	1	0.99mi
3027 James Ave S Minneapolis, MN	1.0–2.0	1.0	796	$1,581	$1.99	7d	3	0.99mi
3027 James Ave S Unit 102 Minneapolis, MN	1.0	1.0	680	$1,581	$2.33	17d	1	0.99mi
2880 James Ave S Minneapolis, MN	—	1.0	461	$795	$1.72	43d	1	1.00mi
1619 Lagoon Ave Unit 203 Minneapolis, MN	—	1.0	450	$925	$2.06	43d	1	1.02mi

HOA detail condo

• Monthly dues: $511 · $6,132/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 47 events

1. 2026-06-18
   days on market $150,000 Active 37 DOM
2. 2026-06-17
   days on market $150,000 Active 36 DOM
3. 2026-06-16
   days on market $150,000 Active 35 DOM
4. 2026-06-15
   days on market $150,000 Active 34 DOM
5. 2026-06-13
   days on market $150,000 Active 32 DOM
6. 2026-06-09
   days on market $150,000 Active 28 DOM
7. 2026-06-08
   days on market $150,000 Active 27 DOM
8. 2026-06-07
   days on market $150,000 Active 26 DOM
9. 2026-06-04
   days on market $150,000 Active 23 DOM
10. 2026-06-03
    days on market $150,000 Active 22 DOM
11. 2026-06-02
    days on market $150,000 Active 21 DOM
12. 2026-06-01
    days on market $150,000 Active 20 DOM
13. 2026-05-31
    days on market $150,000 Active 19 DOM
14. 2026-05-12
    listed $150,000 Active 609-char remark
15. 2026-05-02
    historical
16. 2025-11-12
    listed $150,000 Active
17. 2025-11-12
    historical
18. 2025-07-24
    listed $150,000 Active
19. 2024-10-04
    historical
20. 2024-04-04
    listed $169,900 Active
21. 2024-04-02
    historical
22. 2019-05-13
    soldstatus $159,000
23. 2019-05-09
    soldstatus $159,000 Sold
24. 2019-03-20
    historical
25. 2019-02-27
    historical
26. 2019-02-27
    listed $161,500 Active
27. 2019-02-18
    price $165,000
28. 2019-01-28
    listed $169,400 Active
29. 2016-09-06
    soldstatus $155,000
30. 2016-07-22
    soldstatus $155,000 Sold
31. 2016-07-18
    status Pending
32. 2016-06-30
    historical Contingent - Inspection
33. 2016-06-23
    listed $158,900 Active
34. 2016-06-22
    historical
35. 2016-06-15
    historical Contingent - Inspection
36. 2016-05-11
    status Pending
37. 2016-05-09
    historical Contingent - Inspection
38. 2016-05-05
    listed $158,900 Active
39. 2013-09-23
    soldstatus $110,000
40. 2013-08-26
    soldstatus $110,000
41. 2013-08-15
    historical
42. 2013-06-17
    listed $119,000
43. 2006-07-06
    soldstatus $135,000
44. 2006-07-06
    soldstatus $195,500
45. 2005-08-02
    soldstatus $197,000
46. 2005-05-11
    listed $192,400
47. 2005-05-11
    historical

ⓘ 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: $2,031 · $169/mo
• Projected year-2 tax: $2,031 · $169/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: $20,030
• − Mortgage interest: −$8,402
• − Property taxes: −$2,031
• − Insurance: −$750
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − HOA: −$6,132
• − Depreciation: −$4,364
• Taxable loss: −$4,854
• Est. tax savings @ 24.0%: +$1,165
• After-tax cash flow: $-1,364/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): 35,015
• Household income: $105,958
• Rent vs Own: 50.1% rent · 49.9% own
• Severe rent burden: 1213.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Hispanic / Latino 8% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Romanian 5% Lithuanian 4%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 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: ▼ -490.63%
• Current HPI: 230.651
• Rent YoY: ▲ 2.26%
• 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

-22.0% since first listed

34 events — show timeline

• 2026-05-12 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-24 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-04 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-02 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-13 Sold (Public Records) $159,000 Public Records
• 2019-05-09 Sold (MLS) $159,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-27 Listed $161,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-18 Price Changed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-28 Listed $169,400 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-06 Sold (Public Records) $155,000 Public Records
• 2016-07-22 Sold (MLS) $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-23 Listed $158,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-05 Listed $158,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-09-23 Sold (Public Records) $110,000 Public Records
• 2013-08-26 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-17 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-06 Sold (Public Records) $195,500 Public Records
• 2006-07-06 Sold (Public Records) $135,000 Public Records
• 2005-08-02 Sold (MLS) $197,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-11 Listed $192,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2025): $2,031 · +19.9% YoY. Source: county tax records.