1967 County Road D W · Arden Hills, MN 55112

$499,900

6 bd · 3.0 ba · 2,484 sqft · MultiFamily public records · 11 Days on market

Built 1965 0.41 ac lot

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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).

• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Well-maintained side-by-side brick duplex in Arden Hills offering flexibility for both owner-occupants and investors. One unit features 2 bedrooms and 1 bathroom and is currently owner-occupied, while the second unit offers 4 bedrooms and 2 bathrooms is tenant occupied. Charming throughout with pride of ownership evident on both sides. Spacious backyard, single-car garages, and additional off-street parking add to the appeal. Ideal setup to live in one unit and offset your mortgage or add a quality asset to your portfolio. Seller prefers a rent-back while securing their next home. Great opportunity in a desirable location. Hands down the best value in Arden Hills.

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1965

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-346 ($-4k/yr) — negative. Per door: $-173/mo.
• To cash-flow at today's rent, offer at most $439k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $369k (26.1% below list).
• Recommended offer: $369k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.0% in Arden Hills — 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 (#113 in MN, #2,556 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living D, amenities F, health & safety F.
• Mounds View Public School District (suburban): math 58% / reading 64% proficiency, ranked #30 of 301 in MN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.1%/yr); 168 active listings in the ZIP; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,694/mo this rent would consume 47% of the median local household income ($94k/yr) (locally 1134% 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $374k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $369,400 (26.1% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.74% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.07% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.29×
• Total profit: $-99,067
• Equity at exit: $74,537

10-year hold

• IRR: -11.2%
• Equity multiple: 0.30×
• Total profit: $-98,014
• Equity at exit: $43,222

Cash invested: $139,972 (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 55112

• Rents YoY: 4.1%
• Active inventory: 168
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $3,694 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$434 /mo · $5,210/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$776
• Net cashflow: $-346

Break-even live

Break-even rent $4,132

Max offer price $438,826

Occupancy floor —

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,694
Total (2 units)			$3,694

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-28
   status Pending
2. 2026-04-21
   historical Contingent - Inspection
3. 2026-04-17
   listed $499,900 Active
4. 2026-04-15
   historical $499,900
5. 2018-08-24
   soldstatus $374,000
6. 2018-07-31
   soldstatus $374,000 Sold
7. 2018-07-03
   listed $365,000
8. 2018-07-03
   historical
9. 2018-06-07
   historical
10. 2018-05-21
    price $399,900
11. 2018-05-17
    listed $425,000 Active
12. 2003-04-03
    soldstatus $247,500
13. 2002-10-23
    soldstatus $247,500
14. 2002-09-21
    historical
15. 2002-09-17
    listed $239,900

ⓘ 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: $5,210 · $434/mo
• Projected year-2 tax: $5,404 · $450/mo
• Expected delta: +$194/yr (+$16/mo · 3.7%)

ⓘ 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 ≥100°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: $44,328
• − Mortgage interest: −$28,002
• − Property taxes: −$5,210
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,546
• − Management: −$3,546
• − Depreciation: −$14,543
• Taxable loss: −$13,019
• Est. tax savings @ 24.0%: +$3,124
• After-tax cash flow: $-1,024/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: Mounds View Public School District
• NCES district ID: 2722950
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $72,492
• Composite: 54.04/100
• National rank: #1390
• State rank: #30 of 301 in MN

Livability — Arden Hills

• Score: 78/100
• State rank: #113
• US rank: #2556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arden Hills, MN
• County: Ramsey County · 542,837 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,346
• Household income: $93,838
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1134.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 9% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Romanian 5% Scottish 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 6% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -312.77%
• Current HPI: 254.5083
• Rent YoY: ▲ 4.07%
• 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

+108.4% since first listed

15 events — show timeline

• 2026-04-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $499,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Coming Soon $499,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-24 Sold (Public Records) $374,000 Public Records
• 2018-07-31 Sold (MLS) $374,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-03 Listed $365,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-21 Price Changed $399,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-17 Listed $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-03 Sold (Public Records) $247,500 Public Records
• 2002-10-23 Sold (MLS) $247,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-17 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $5,210 · +13.6% YoY. Source: county tax records.