3417 41st Ave S · Minneapolis, MN 55406

$150,000

2 bd · 2.0 ba · 1,348 sqft · SingleFamily public records · 10 Days on market

Built 1924 5,227 sqft lot $111/sqft · 62% below area

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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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADORABLE 2BR LONGFELLOW RAMBLER IN MOVE-IN CONDITION. LOVELY LIGHT-FILLED ROOMS W/GLEAMING HARDWOOD FLOORS. NEWER ROOF,WINDOWS & CENTRAL AIR. LARGE FINISHED LOWER LEVEL W/FAMILY ROOM,OFFICE & 3/4 BATH. CUTE,QUIET BACKYARD W/PATIO AREA. TERRIFIC LOCATION.

Key facts

• Quiet street
• Mississippi river
• 5,227 sq ft lot

Tags

• LONGFELLOW NEIGHBORHOOD
• QUIET STREET
• MISSISSIPPI RIVER
• MINNEHAHA REGIONAL PARK
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO LOCAL CAFES

Property features AI

Exterior

• Parking: Asphalt parking
• Utilities: City water; City sewer; Natural gas
• Home design: Residential single-story home; Entry level main floor; Pitched asphalt roof (8 years old or newer)
• Construction: Built on block foundation; Vinyl siding; Pitched asphalt roof (8 years old or newer)
• Exterior features: Vinyl exterior; Porch; Medium tree coverage; Public transit within ~6 blocks; Curbs, paved streets and sidewalks

Interior

• Kitchen: Range; Refrigerator; Kitchen window
• Bedrooms: 2 bedrooms (one on the main floor)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bath on the main floor; 1 three-quarter bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Separate/formal dining room; Porch; Kitchen window; Hardwood floors; Tile floors; Exhaust fan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.5% 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 (+3.0%/yr); 154 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (median comp): $342,473
• List price: $150,000
• Delta: -56.20%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-6,670
• Equity at exit: $22,365

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $17,046
• 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 55406

• Rents YoY: 3.0%
• Active inventory: 154
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,751 high
• Mortgage (P&I): −$787
• Tax from tax record: −$258 /mo · $3,098/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $276

Break-even live

Break-even rent $1,402

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $361	-5% $319	+0% $276	+5% $234	+10% $191
Rent	-10% $138	-5% $207	+0% $276	+5% $345	+10% $414
Rate	-1.0pp $352	-0.5pp $314	base $276	+0.5pp $237	+1.0pp $198

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3912 Minnehaha Ave Minneapolis, MN	2.0	1.0	650	$1,495	$2.30	15d	1	0.76mi
3449 Snelling Ave Unit 3451 Minneapolis, MN	3.0	1.0	1108	$1,995	$1.80	16d	1	0.77mi
2833 S 31st Ave Unit 1 Minneapolis, MN	2.0	1.0	950	$1,695	$1.78	45d	1	0.92mi
2916 30th Ave S Unit B Minneapolis, MN	2.0	2.0	946	$1,697	$1.79	45d	1	0.94mi
3806 28th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	820	$1,925	$2.35	25d	3	1.02mi
4244 45th Ave S Minneapolis, MN	3.0	1.0	1200	$2,200	$1.83	9d	1	1.09mi
2615 E 29th St Minneapolis, MN	2.0	1.0–2.0	660	$1,925	$2.91	0d	18	1.18mi
3806 24th Ave S Minneapolis, MN	2.0	1.0–2.0	772	$2,305	$2.98	5d	11	1.26mi
3501 22nd Ave S Unit Upper Minneapolis, MN	3.0	1.0	1100	$1,595	$1.45	25d	1	1.29mi
3501 22nd Ave S Minneapolis, MN	3.0	1.0	1100	$1,595	$1.45	9d	1	1.29mi
3605 E 44th St Minneapolis, MN	2.0–3.0	1.0–1.5	825	$1,437	$1.74	3d	37	1.30mi
3029 22nd Ave S Unit 302 Minneapolis, MN	2.0	2.0	923	$1,799	$1.95	4d	1	1.37mi
3029 22nd Ave S Unit 418 Minneapolis, MN	2.0	2.0	1010	$1,789	$1.77	45d	1	1.37mi
3029 22nd Ave S Unit 202 Minneapolis, MN	2.0	2.0	923	$1,885	$2.04	45d	1	1.37mi

Listing history 13 events

1. 2026-05-12
   listed $150,000 Active 555-char remark
2. 2009-10-09
   soldstatus $175,000
3. 2009-09-08
   soldstatus $175,000 262-char remark

   Show marketing remark (262 chars)

   ADORABLE 2BR LONGFELLOW RAMBLER IN MOVE-IN CONDITION. LOVELY LIGHT-FILLED ROOMS W/GLEAMING HARDWOOD FLOORS. NEWER ROOF,WINDOWS & CENTRAL AIR. LARGE FINISHED LOWER LEVEL W/FAMILY ROOM,OFFICE & 3/4 BATH. CUTE,QUIET BACKYARD W/PATIO AREA. TERRIFIC LOCATION.

4. 2009-07-08
   historical 262-char remark

   Show marketing remark (262 chars)

   ADORABLE 2BR LONGFELLOW RAMBLER IN MOVE-IN CONDITION. LOVELY LIGHT-FILLED ROOMS W/GLEAMING HARDWOOD FLOORS. NEWER ROOF,WINDOWS & CENTRAL AIR. LARGE FINISHED LOWER LEVEL W/FAMILY ROOM,OFFICE & 3/4 BATH. CUTE,QUIET BACKYARD W/PATIO AREA. TERRIFIC LOCATION.

5. 2009-04-17
   listed $179,900 262-char remark

   Show marketing remark (262 chars)

   ADORABLE 2BR LONGFELLOW RAMBLER IN MOVE-IN CONDITION. LOVELY LIGHT-FILLED ROOMS W/GLEAMING HARDWOOD FLOORS. NEWER ROOF,WINDOWS & CENTRAL AIR. LARGE FINISHED LOWER LEVEL W/FAMILY ROOM,OFFICE & 3/4 BATH. CUTE,QUIET BACKYARD W/PATIO AREA. TERRIFIC LOCATION.

6. 2003-03-19
   soldstatus $157,000
7. 2003-02-28
   soldstatus $157,000

   Show marketing remark (249 chars)

   THIS 2+BR, 2BA, CHARMER IS READY FOR YOU! NEWLY FINISHED BASEMENT WITH FAMILYROOM, 3/4 BATH, AND NON-CONFORMING BEDROOM (NO CLOSET). EXPANSION AREA AWAITS YOUR IDEAS. MANY UPDATES WITHIN RECENT YEARS INCLUDE ROOF, FURNACE,C/A + MORE! GREAT LOCATION!

8. 2003-01-20
   historical

   Show marketing remark (249 chars)

   THIS 2+BR, 2BA, CHARMER IS READY FOR YOU! NEWLY FINISHED BASEMENT WITH FAMILYROOM, 3/4 BATH, AND NON-CONFORMING BEDROOM (NO CLOSET). EXPANSION AREA AWAITS YOUR IDEAS. MANY UPDATES WITHIN RECENT YEARS INCLUDE ROOF, FURNACE,C/A + MORE! GREAT LOCATION!

9. 2002-12-27
   listed $159,900

   Show marketing remark (249 chars)

   THIS 2+BR, 2BA, CHARMER IS READY FOR YOU! NEWLY FINISHED BASEMENT WITH FAMILYROOM, 3/4 BATH, AND NON-CONFORMING BEDROOM (NO CLOSET). EXPANSION AREA AWAITS YOUR IDEAS. MANY UPDATES WITHIN RECENT YEARS INCLUDE ROOF, FURNACE,C/A + MORE! GREAT LOCATION!

10. 1999-09-07
    soldstatus $81,000
11. 1999-07-01
    soldstatus $81,000
12. 1999-04-12
    historical
13. 1999-04-09
    listed $84,900

ⓘ 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: $3,098 · $258/mo
• Projected year-2 tax: $3,098 · $258/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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,014
• − Mortgage interest: −$8,402
• − Property taxes: −$3,098
• − Insurance: −$750
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$4,364
• Taxable income: $1,037
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $3,064/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): 36,581
• Household income: $93,910
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1026.0

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 (70%)
• Race & ethnicity: White 70% Black 12% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Romanian 3% Lithuanian 3%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 85% 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: ▼ -397.38%
• Current HPI: 266.2546
• Rent YoY: ▲ 2.99%
• 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

+76.7% since first listed

17 events — show timeline

• 2026-06-17 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-09 Sold (Public Records) $175,000 Public Records
• 2009-09-08 Sold (MLS) $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-17 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-03-19 Sold (Public Records) $157,000 Public Records
• 2003-02-28 Sold (MLS) $157,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-27 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-09-07 Sold (Public Records) $81,000 Public Records
• 1999-07-01 Sold (MLS) $81,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-04-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-04-09 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2025): $3,098 · -10.7% YoY. Source: county tax records.