3510 Lyndale Ave N · Minneapolis, MN 55412

$109,900

2 bd · 1.5 ba · 930 sqft · SingleFamily public records · 25 Days on market

Built 1914 6,098 sqft lot

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Why this score? — see what drove the B- 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Opportunity! Two bedroom, one bath bungalow, hardwoods, porch, patio, unfinished basement with egress window for future expansion. Detached two car garage and more!

Key facts

• Porch
• Hardwoods
• Unfinished basement

Tags

• BUNGALOW
• HARDWOODS
• PORCH
• PATIO
• UNFINISHED BASEMENT
• EGRESS WINDOW

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential property; One story; Entry level: Main; Above- and below-grade finished living areas (main level finished)
• Construction: Frame construction; Block foundation; Roof older than 8 years; Built area with foundation area noted
• Exterior features: Patio; Porch; Wood exterior; Light tree coverage; Public transit within 6 blocks; City street with paved roads and public maintenance

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two bedrooms (both on the main level); Main floor bedroom
• Flooring: Hardwood floors
• Bathrooms: One full bath; Main floor 3/4 bath
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Living/dining room; Hardwood floors; Full unfinished basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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.
• Zoned schools: Nellie Stone Johnson Elementary (math 2% / reading 17%, grade F, #829 of 857 statewide, top 98%, 201 students, 96% FRL); Franklin Middle (math 2% / reading 8%, grade F, #255 of 258 statewide, top 100%, 287 students, 89% FRL); Henry High (reading 70%, 858 students, 80% FRL) — zoned schools average 88% FRL vs 58% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 40% district-wide (-33 pts) — the specific schools serving this property underperform the Minneapolis Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.3%/yr); 167 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $87k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1914 — 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: 1.34% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.24%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.40×
• Total profit: $12,234
• Equity at exit: $16,386

10-year hold

• IRR: 21.5%
• Equity multiple: 3.12×
• Total profit: $65,327
• Equity at exit: $9,502

Cash invested: $30,772 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 167
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$576
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $391

Break-even live

Break-even rent $974

Max offer price $109,900

Occupancy floor 68%

Sensitivity live

Price	-10% $453	-5% $422	+0% $391	+5% $360	+10% $329
Rent	-10% $275	-5% $333	+0% $391	+5% $449	+10% $507
Rate	-1.0pp $446	-0.5pp $419	base $391	+0.5pp $362	+1.0pp $333

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3606 N Bryant Ave Unit 2 Minneapolis, MN	1.0	1.0	600	$1,250	$2.08	45d	1	0.16mi
3347 Emerson Ave N #2 Minneapolis, MN	1.0	1.0	746	$1,300	$1.74	4d	1	0.37mi
3342 N Humboldt Ave Unit 2 Minneapolis, MN	1.0	1.0	900	$1,395	$1.55	19d	1	0.51mi
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	5d	1	0.53mi
1315 N Dowling Ave Unit 308 Minneapolis, MN	2.0	1.0	800	$1,450	$1.81	23d	1	0.53mi
1315 N Dowling Ave Unit 306 Minneapolis, MN	1.0	1.0	750	$1,250	$1.67	5d	1	0.54mi
3753 Girard Ave N Minneapolis, MN	1.0–2.0	1.0	687	$1,450	$2.11	19d	8	0.55mi
3001 N 3rd St Apt 1 Minneapolis, MN	2.0	1.0	900	$1,250	$1.39	22d	1	0.60mi
4001 N Bryant Ave Unit 1 Minneapolis, MN	2.0	1.0	850	$1,295	$1.52	45d	1	0.62mi
4055 Lyndale Ave N Minneapolis, MN	2.0	1.0	800	$1,075	$1.34	1d	1	0.71mi
4055 N Lyndale Ave Unit 1 Minneapolis, MN	1.0	1.0	650	$945	$1.45	45d	1	0.71mi
2652 Marshall St NE Minneapolis, MN	2.0	1.0	700	$1,199	$1.71	45d	1	0.75mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	19d	1	0.81mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	1d	1	0.90mi
4253 Webber Pkwy Minneapolis, MN	1.0	1.0	700	$1,295	$1.85	26d	1	0.94mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	15d	1	0.99mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	1d	1	0.99mi
3322 Penn Ave N Minneapolis, MN	1.0	1.0	660	$1,350	$2.05	16d	1	1.00mi
3643 Penn Ave N Minneapolis, MN	1.0	1.0	900	$988	$1.10	45d	2	1.03mi
3230 N Penn Ave Unit 1 Minneapolis, MN	1.0	1.0	765	$895	$1.17	5d	1	1.03mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	45d	1	1.14mi
1709 N 26th Ave Unit 3 Minneapolis, MN	1.0	1.0	920	$1,250	$1.36	45d	1	1.15mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	3d	1	1.29mi
801 N 21st Ave Unit 204 Minneapolis, MN	1.0	1.0	750	$875	$1.17	45d	1	1.31mi
801 21st Ave N Minneapolis, MN	1.0	1.0	750	$875	$1.17	5d	2	1.31mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	16d	1	1.34mi
347 24th Ave NE Unit 1 Minneapolis, MN	2.0	1.0	770	$1,295	$1.68	26d	1	1.35mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	4d	7	1.41mi
2035 W River Rd Minneapolis, MN	1.0–4.0	2.0	1034	$1,730	$1.67	1d	12	1.42mi
4638 Camden Ave N Unit 1 Minneapolis, MN	2.0	1.0	815	$1,495	$1.83	5d	1	1.42mi
1432 Grand St NE Minneapolis, MN	2.0	1.0	670	$1,475	$2.20	9d	1	1.43mi
1432 Grand St NE Unit 2 Minneapolis, MN	2.0	1.0	670	$1,475	$2.20	1d	1	1.43mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	16d	3	1.43mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	9d	4	1.46mi
301 17th Ave NE Minneapolis, MN	2.0	1.0	925	$1,295	$1.40	5d	1	1.50mi

Listing history 20 events

1. 2026-06-21
   days on market $109,900 Active 25 DOM
2. 2026-06-18
   days on market $109,900 Active 22 DOM
3. 2026-06-17
   days on market $109,900 Active 21 DOM
4. 2026-06-16
   days on market $109,900 Active 20 DOM
5. 2026-06-15
   days on market $109,900 Active 19 DOM
6. 2026-06-13
   days on market $109,900 Active 17 DOM
7. 2026-06-09
   days on market $109,900 Active 13 DOM
8. 2026-06-08
   days on market $109,900 Active 12 DOM
9. 2026-06-07
   days on market $109,900 Active 11 DOM
10. 2026-06-04
    days on market $109,900 Active 8 DOM
11. 2026-06-03
    days on market $109,900 Active 7 DOM
12. 2026-06-02
    days on market $109,900 Active 6 DOM
13. 2026-06-01
    days on market $109,900 Active 5 DOM
14. 2026-05-31
    days on market $109,900 Active 4 DOM
15. 2026-05-27
    listed $109,900 Active
16. 2000-12-12
    soldstatus $87,000
17. 2000-09-07
    soldstatus $86,900
18. 2000-08-16
    historical
19. 2000-07-23
    listed $86,900
20. 1985-06-01
    soldstatus $49,000

ⓘ 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: $1,771 · $148/mo
• Projected year-2 tax: $1,771 · $148/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: $17,629
• − Mortgage interest: −$6,156
• − Property taxes: −$1,771
• − Insurance: −$550
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$3,197
• Taxable income: $3,135
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $3,938/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+124.3% since first listed

6 events — show timeline

• 2026-05-27 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-12-12 Sold (Public Records) $87,000 Public Records
• 2000-09-07 Sold (MLS) $86,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-08-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-07-23 Listed $86,900 NORTHSTARMLS as Distributed by MLS Grid
• 1985-06-01 Sold (Public Records) $49,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,771 · +20.7% YoY. Source: county tax records.