250 Park Ave · Minneapolis, MN 55415

$305,000

2 bd · 1.0 ba · 1,134 sqft · Condo · 14 Days on market

Built 1900

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks

3rd Floor Condo in the Mill District. Great walking distance to restaurants, stores and shops. I am selling this as a rental unit. I have a great tenant that is under lease through June 2027.

Key facts

• Under lease
• 3rd floor condo
• Mill district

Tags

• 3RD FLOOR CONDO
• MILL DISTRICT
• WALKING DISTANCE TO STORES
• WALKING DISTANCE TO SHOPS
• RENTAL UNIT
• UNDER LEASE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $305k).
• Cap rate 7.8% 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 (+2.6%/yr); 81 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 30% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 21y ago; this cycle's ask is 11653% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $305,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-25,772
• Equity at exit: $45,476

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $5,055
• Equity at exit: $26,371

Cash invested: $85,400 (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 55415

• Home prices YoY: -2.4%
• Rents YoY: 2.6%
• Active inventory: 81
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,159 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $388

Break-even live

Break-even rent $2,668

Max offer price $305,000

Occupancy floor 83%

Sensitivity live

Price	-10% $599	-5% $493	+0% $388	+5% $283	+10% $177
Rent	-10% $138	-5% $263	+0% $388	+5% $513	+10% $638
Rate	-1.0pp $542	-0.5pp $466	base $388	+0.5pp $309	+1.0pp $229

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Park Ave #215 Minneapolis, MN	1.0	1.0	961	$2,350	$2.45	15d	1	0.03mi
240 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	1047	$3,875	$3.70	4d	2	0.03mi
240 Chicago Ave Minneapolis, MN	2.0	1.0–2.0	825	$3,036	$3.68	0d	14	0.06mi
700 S 4th St Minneapolis, MN	2.0	1.0–2.0	897	$3,995	$4.45	0d	25	0.07mi
225 Portland Ave Minneapolis, MN	2.0	1.0–2.0	837	$3,420	$4.08	0d	72	0.09mi
205 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	859	$3,158	$3.68	0d	5	0.09mi
811 Washington Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	862	$3,099	$3.60	20d	9	0.10mi
250 Portland Ave Minneapolis, MN	1.0–2.0	1.0–2.0	902	$3,367	$3.73	0d	10	0.10mi
511 S 4th St Minneapolis, MN	2.0	1.0–2.0	882	$2,950	$3.34	0d	11	0.21mi
212 10th Ave S Minneapolis, MN	3.0	1.0–2.5	1490	$6,415	$4.31	2d	10	0.23mi
600 5th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	878	$3,315	$3.78	0d	12	0.33mi
650 Portland Ave Minneapolis, MN	2.0	1.0–2.0	1104	$4,141	$3.75	0d	16	0.34mi
521 S 7th St Minneapolis, MN	1.0–2.0	1.0–1.5	784	$2,375	$3.03	2d	2	0.37mi
1010 S 7th St Minneapolis, MN	2.0	1.0–2.0	834	$2,725	$3.27	44d	1	0.39mi
433 S 7th St Minneapolis, MN	2.0	2.0	1057	$2,548	$2.41	15d	1	0.41mi
615 S 8th St Minneapolis, MN	2.0	1.0–2.5	1252	$6,125	$4.89	0d	49	0.43mi
111 S Marquette Ave Minneapolis, MN	1.0–2.0	1.0–2.0	955	$2,414	$2.53	0d	13	0.49mi
101 S 5th St Minneapolis, MN	3.0	1.0–2.0	1249	$3,169	$2.54	0d	34	0.49mi
608 2nd Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	999	$2,280	$2.28	0d	33	0.50mi
365 Nicollet Mall Minneapolis, MN	3.0	1.0–3.5	1656	$7,054	$4.26	0d	36	0.50mi
400 Marquette Ave Minneapolis, MN	3.0	1.0–2.0	1103	$3,330	$3.02	0d	11	0.51mi
465 Nicollet Mall Minneapolis, MN	2.0	1.0–3.0	1153	$4,600	$3.99	0d	14	0.53mi
929 Portland Ave Minneapolis, MN	2.0	2.0	1120	$2,499	$2.23	44d	1	0.56mi
1423 11th Ave S Minneapolis, MN	1.0–2.0	1.0	818	$1,800	$2.20	0d	27	0.61mi
120 Hennepin Ave Minneapolis, MN	2.0	1.0–2.0	960	$3,665	$3.82	8d	10	0.61mi
270 Hennepin Ave Minneapolis, MN	3.0	1.0–3.0	1505	$6,755	$4.49	0d	53	0.64mi
1800 Washington Ave S Minneapolis, MN	2.0	1.0–2.0	674	$2,290	$3.40	0d	23	0.64mi
1400 Park Ave Minneapolis, MN	2.0	1.0–2.0	875	$2,630	$3.01	0d	23	0.65mi
200 University Ave SE Minneapolis, MN	3.0	1.0–3.0	1554	$5,958	$3.83	0d	22	0.67mi
515 E Grant St Minneapolis, MN	1.0–2.0	1.0	820	$1,696	$2.07	2d	10	0.67mi
736 E 16th St Minneapolis, MN	1.0–2.0	1.0	650	$1,100	$1.69	24d	2	0.69mi
736 E 16th St #21 Minneapolis, MN	2.0	1.0	757	$1,150	$1.52	44d	1	0.69mi
90 S 9th St Minneapolis, MN	2.0	1.0	823	$2,000	$2.43	0d	4	0.69mi
110 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	885	$3,799	$4.29	0d	21	0.71mi
600 University Ave SE Minneapolis, MN	1.0–2.0	1.0	600	$1,617	$2.69	3d	13	0.72mi
918 E 17th St Unit 1 Minneapolis, MN	3.0	1.0	1150	$1,995	$1.73	0d	1	0.72mi
120 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.5	1039	$3,428	$3.30	0d	17	0.72mi
735 E 16th St #2 Minneapolis, MN	3.0	1.0	1296	$1,650	$1.27	25d	1	0.72mi
729 E 16th St Apt 11 Minneapolis, MN	1.0	1.0	1050	$1,195	$1.14	44d	1	0.73mi
729 E 16th St Apt 5 Minneapolis, MN	1.0	1.0	1050	$1,195	$1.14	0d	1	0.73mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-05-12
   listed $305,000 Active 191-char remark
2. 2025-12-26
   historical $2,595
3. 2025-12-24
   listed $2,595
4. 2025-11-22
   historical $1,750
5. 2025-10-09
   price $1,750
6. 2025-09-13
   listed $1,850
7. 2025-03-28
   historical $2,295
8. 2025-03-18
   listed $2,295
9. 2025-03-11
   historical $2,400
10. 2025-02-23
    listed $2,400
11. 2024-12-02
    historical $1,200
12. 2024-11-29
    listed $1,200
13. 2024-11-10
    historical $1,200
14. 2024-11-07
    listed $1,200
15. 2024-09-13
    historical $1,950
16. 2024-09-04
    historical $1,950
17. 2024-08-14
    price $1,950
18. 2024-08-08
    price $1,995
19. 2024-08-01
    listed $2,295
20. 2024-07-24
    listed $2,695
21. 2024-07-24
    historical $2,450
22. 2024-07-19
    listed $2,450
23. 2005-11-03
    historical
24. 2005-09-28
    listed $319,900
25. 2005-06-30
    soldstatus $299,600
26. 2005-06-10
    historical
27. 2005-06-08
    historical
28. 2005-04-21
    listed $299,600
29. 2005-04-12
    listed $423,000

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

Taxation est. · year 1

• Rental income: $37,911
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$3,033
• − Management: −$3,033
• − Depreciation: −$8,873
• Taxable loss: −$212
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $4,707/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): 6,900
• Household income: $124,921
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 344.0

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 0.59)
• Race & ethnicity: White 61% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 6% Slovak 2% Romanian 2%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 2% 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: ▼ -7.23%
• Current HPI: 289.6606
• Rent YoY: ▲ 2.65%
• 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

-99.4% since first listed

28 events — show timeline

• 2025-12-26 Rental Removed $2,595 RENTALBEAST
• 2025-12-24 Listed for Rent $2,595 RENTALBEAST
• 2025-11-22 Rental Removed $1,750 NORTHSTARMLS
• 2025-10-09 Price Changed $1,750 NORTHSTARMLS
• 2025-09-13 Listed for Rent $1,850 NORTHSTARMLS
• 2025-03-28 Rental Removed $2,295 NORTHSTARMLS
• 2025-03-18 Listed for Rent $2,295 NORTHSTARMLS
• 2025-03-11 Rental Removed $2,400 Avail
• 2025-02-23 Listed for Rent $2,400 Avail
• 2024-12-02 Rental Removed $1,200 CONNECTLINX
• 2024-11-29 Listed for Rent $1,200 CONNECTLINX
• 2024-11-10 Rental Removed $1,200 CONNECTLINX
• 2024-11-07 Listed for Rent $1,200 CONNECTLINX
• 2024-09-13 Rental Removed $1,950 NORTHSTARMLS
• 2024-09-04 Rental Removed $1,950 NORTHSTARMLS
• 2024-08-14 Price Changed $1,950 NORTHSTARMLS
• 2024-08-08 Price Changed $1,995 NORTHSTARMLS
• 2024-08-01 Listed for Rent $2,295 NORTHSTARMLS
• 2024-07-24 Listed for Rent $2,695 NORTHSTARMLS
• 2024-07-24 Rental Removed $2,450 NORTHSTARMLS
• 2024-07-19 Listed for Rent $2,450 NORTHSTARMLS
• 2005-11-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-28 Listed $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-30 Sold (MLS) $299,600 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-21 Listed $299,600 NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-12 Listed $423,000 NORTHSTARMLS as Distributed by MLS Grid