941 11th Ave S #2 · Hopkins, MN 55343

$118,839

1 bd · 1.0 ba · 660 sqft · Condo public records · 13 Days on market

Built 1969 $300/mo HOA · 23% of rent

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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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity to own an affordable, low maintenance 1 BR, 1 BA condo in the desirable Hopkins area neighborhood. Amazing location; close to parks, minutes from downtown Hopkins, easy excess to 494 and 169. This lovely end-unit condo provides the main floor living (no stairs) and comes with an assigned outdoor parking space, storage unit, and coin-operated laundry conveniently located next door. A heated in-ground pool is a bonus. Spacious and bright with a great layout, newer carpet, and new range. Well maintained and move-in ready. Rentals allowed. Easy to show and quick closing is possible!

Key facts

• Storage unit
• Main floor living
• Rentals allowed

Tags

• MAIN FLOOR LIVING
• ASSIGNED OUTDOOR PARKING SPACE
• STORAGE UNIT
• COIN-OPERATED LAUNDRY
• HEATED IN-GROUND POOL
• RENTALS ALLOWED

Property features AI

Finance

• Other: Lot approximately 9.241 acres
• HOA & community: Managed by Sharper Management; Monthly HOA fee of $300; HOA covers heating, water, sewer, lawn care, grounds maintenance, parking, snow removal, professional management and shared amenities; Association amenities include laundry (coin-op owned) and tennis courts

Exterior

• Parking: Guest parking
• Utilities: City water connected; City sewer connected; Electric fuel
• Home design: Attached residential property; Two levels; Entry on main level
• Construction: 700 above-grade finished area; 700 foundation/building area
• Exterior features: Stone exterior; Shared below-ground pool; City street frontage; Association-maintained and public maintained roads

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 1 bedroom (main level, 13 x 12)
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Baseboard heating; Wall unit(s) for cooling
• Interior features: Ceiling fan(s); Main floor primary bedroom; Patio; Disposal; Exhaust fan; Freezer
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-66 ($-786/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (9.7% below list).
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $107k (9.7% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.2% in Hopkins — 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 81/100 on livability (#58 in MN, #1,382 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, amenities A-.
• 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 fast (+4.0%/yr); 132 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $821 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 34y 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 23% of rent.

Recommended offer $107,265 (9.7% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-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: 1.10% ✓
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.89
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.34×
• Total profit: $-21,903
• Equity at exit: $17,719

10-year hold

• IRR: -8.1%
• Equity multiple: 0.46×
• Total profit: $-18,077
• Equity at exit: $10,275

Cash invested: $33,275 (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 55343

• Rents YoY: 4.0%
• Active inventory: 132
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$623
• Tax from tax record: −$130 /mo · $1,558/yr
• Insurance: −$50
• HOA: −$300
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-66

Break-even live

Break-even rent $1,396

Max offer price $107,265

Occupancy floor 100%

Sensitivity live

Price	-10% $2	-5% $-32	+0% $-66	+5% $-99	+10% $-133
Rent	-10% $-169	-5% $-117	+0% $-66	+5% $-14	+10% $38
Rate	-1.0pp $-6	-0.5pp $-35	base $-66	+0.5pp $-96	+1.0pp $-128

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: $29,710
• Closing costs: $3,565
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 11th Ave S Hopkins, MN	1.0	1.0	700	$995	$1.42	44d	1	0.05mi
926 Westbrooke Way Unit 926-8 Hopkins, MN	1.0	1.0	705	$1,300	$1.84	44d	1	0.08mi
930 Westbrooke Way Unit 930-1 Hopkins, MN	1.0	1.0	705	$1,250	$1.77	44d	1	0.10mi
810 9th Ave S #8 Hopkins, MN	1.0	1.0	700	$1,099	$1.57	13d	1	0.16mi
1006 Westbrooke Way Unit 1006-1 Hopkins, MN	1.0	1.0	705	$1,200	$1.70	44d	1	0.23mi
10745 Smetana Rd Minnetonka, MN	2.0	1.0–2.0	811	$1,432	$1.77	0d	19	0.31mi
11001 Bren Rd E Hopkins, MN	1.0–3.0	1.0–2.0	1001	$1,422	$1.42	0d	26	0.74mi
105 13th Ave S Hopkins, MN	1.0	1.0	650	$1,150	$1.77	44d	1	0.93mi
10702 Red Circle Dr Minnetonka, MN	3.0	1.0–3.0	953	$2,517	$2.64	0d	137	0.94mi
50 8th Ave S Hopkins, MN	2.0	1.0–2.0	906	$1,882	$2.08	0d	9	0.95mi
11050 Red Circle Dr Hopkins, MN	3.0	1.0–2.0	1110	$2,327	$2.10	0d	51	0.96mi
10950 Red Circle Dr Hopkins, MN	2.0	1.0–2.0	876	$2,018	$2.30	0d	16	1.03mi
1118 Mainstreet Hopkins, MN	2.0	1.0–2.0	774	$2,398	$3.10	0d	17	1.04mi
9 7th Ave S Hopkins, MN	1.0–2.0	1.0	710	$1,018	$1.43	5d	1	1.06mi
5995 Lincoln Dr Minneapolis, MN	2.0	1.0–2.0	1008	$2,393	$2.37	0d	17	1.07mi
1510 Mainstreet Hopkins, MN	1.0	1.0	705	$1,225	$1.74	3d	10	1.08mi
517 Mainstreet Hopkins, MN	—	1.0	350	$1,512	$4.32	13d	2	1.13mi
6100 Chasewood Pkwy Minnetonka, MN	1.0–2.0	2.0	868	$1,550	$1.79	4d	3	1.29mi
6670 Vernon Ave S #105 Minneapolis, MN	1.0	1.0	750	$1,900	$2.53	44d	1	1.34mi
4312 Shady Oak Rd S Hopkins, MN	2.0	1.0–2.0	776	$1,798	$2.31	0d	4	1.37mi
5709 Rowland Rd Hopkins, MN	1.0	1.0	714	$1,615	$2.26	5d	2	1.45mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $118,839 Active 13 DOM
2. 2026-06-18
   days on market $118,839 Active 10 DOM
3. 2026-06-17
   days on market $118,839 Active 9 DOM
4. 2026-06-16
   days on market $118,839 Active 8 DOM
5. 2026-06-15
   days on market $118,839 Active 7 DOM
6. 2026-06-13
   days on market $118,839 Active 5 DOM
7. 2026-06-13
   days on market $118,839 Active 4 DOM
8. 2026-06-08
   remarks 665-char remark
9. 2026-06-08
   listed $118,839 Active 1 DOM

ⓘ 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: $1,558 · $130/mo
• Projected year-2 tax: $1,558 · $130/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 ≥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: $15,753
• − Mortgage interest: −$6,657
• − Property taxes: −$1,558
• − Insurance: −$594
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − HOA: −$3,600
• − Depreciation: −$3,457
• Taxable loss: −$2,634
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $-154/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 — Hopkins

• Score: 81/100
• State rank: #58
• US rank: #1382

Category grades

Amenities A- Commute A+ Cost of living C+ Crime B- Employment B- Housing A+ Health & safety C User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopkins, MN
• County: Hennepin County · 1,150,272 people
• City population: 27,102
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 27,102
• Household income: $83,143
• Rent vs Own: 53.5% rent · 46.5% own
• Severe rent burden: 1514.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 4% Asian 4%
• Common ancestry: Portuguese 10% Romanian 4% Scottish 3%
• Foreign-born: 12% · Canada, United Kingdom
• Languages at home: 85% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -223.01%
• Current HPI: 252.3059
• Rent YoY: ▲ 4.00%
• 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

+359.1% since first listed

20 events — show timeline

• 2026-06-05 Listed $118,839 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-19 Sold (Public Records) $105,000 Public Records
• 2022-10-12 Sold (MLS) $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-09 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-19 Sold (Public Records) $68,000 Public Records
• 2017-12-12 Sold (MLS) $68,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-05 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-02-02 Sold (Public Records) $24,400 Public Records
• 1995-10-09 Sold (Public Records) $21,000 Public Records
• 1995-09-29 Sold (MLS) $21,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-04-26 Listed $24,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-04-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-14 Listed $27,500 NORTHSTARMLS as Distributed by MLS Grid
• 1993-07-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-16 Listed $25,888 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,558 · +23.9% YoY. Source: county tax records.