3148 Bloomington Ave · Minneapolis, MN 55407

$135,000

2 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 30 Days on market

Built 1900

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Buyers and investors! Welcome to 3148 Bloomington Ave, a classic 1900-built home offering an incredible opportunity to build instant equity in the heart of the vibrant Powderhorn Park neighborhood. Bring your design ideas and personal touches to transform this diamond in the rough into your dream home or next profitable investment. ?Featuring a functional 2-bedroom, 1.5-bathroom layout across 1,248 square feet, this property provides a solid foundation with tons of potential. Contact 651.238.9401 for more info

Key facts

• Built 1900
• Listed 29 days

Property features AI

Exterior

• Home design: Built in 1900
• Construction: Original construction from 1900
• Exterior features: Located in the Powderhorn Park neighborhood

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 fast (+4.3%/yr); 147 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $933 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 32y 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 $24k; list at $135k implies a 451% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.20% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.82%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $5,970
• Equity at exit: $20,129

10-year hold

• IRR: 14.7%
• Equity multiple: 2.25×
• Total profit: $47,304
• Equity at exit: $11,672

Cash invested: $37,800 (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 55407

• Rents YoY: 4.3%
• Active inventory: 147
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$708
• Tax from tax record: −$112 /mo · $1,339/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $404

Break-even live

Break-even rent $1,109

Max offer price $135,000

Occupancy floor 70%

Sensitivity live

Price	-10% $480	-5% $442	+0% $404	+5% $365	+10% $327
Rent	-10% $276	-5% $340	+0% $404	+5% $468	+10% $532
Rate	-1.0pp $472	-0.5pp $438	base $404	+0.5pp $369	+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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2932 15th Ave S Unit 1 Minneapolis, MN	2.0	1.0	816	$1,250	$1.53	45d	1	0.27mi
3421 15th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.30mi
3320 Longfellow Ave Minneapolis, MN	2.0	1.0	950	$1,798	$1.89	18d	1	0.39mi
3015 19th Ave S Unit 1 Minneapolis, MN	3.0	1.0	960	$1,750	$1.82	45d	1	0.45mi
2835 11th Ave S Minneapolis, MN	2.0	1.0–2.0	688	$1,669	$2.42	0d	11	0.49mi
2929 Chicago Ave Minneapolis, MN	2.0	1.0–2.0	1325	$2,325	$1.75	45d	2	0.50mi
2929 Chicago Ave Minneapolis, MN	2.0	1.0	1290	$2,350	$1.82	23d	1	0.50mi
3520 12th Ave S Minneapolis, MN	1.0–2.0	1.0	725	$1,200	$1.66	45d	1	0.50mi
3029 22nd Ave S Unit 202 Minneapolis, MN	2.0	2.0	923	$1,885	$2.04	45d	1	0.64mi
3029 22nd Ave S Unit 302 Minneapolis, MN	2.0	2.0	923	$1,799	$1.95	4d	1	0.64mi
3029 22nd Ave S Unit 418 Minneapolis, MN	2.0	2.0	1010	$1,789	$1.77	45d	1	0.64mi
2624 16th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.67mi
2609 16th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.70mi
2220 E Lake St Minneapolis, MN	1.0–2.0	1.0	659	$1,425	$2.16	15d	1	0.71mi
3501 22nd Ave S Minneapolis, MN	3.0	1.0	1100	$1,595	$1.45	9d	1	0.74mi
3501 22nd Ave S Unit Upper Minneapolis, MN	3.0	1.0	1100	$1,595	$1.45	25d	1	0.74mi
3741 13th Ave S Unit 1 Minneapolis, MN	3.0	1.0	1150	$1,799	$1.56	9d	1	0.74mi
2704 Chicago Ave Unit 1 Minneapolis, MN	2.0	1.0	980	$1,400	$1.43	25d	1	0.76mi
3705 Chicago Ave Unit 1 Minneapolis, MN	2.0	2.0	1100	$1,250	$1.14	45d	1	0.78mi
3328 5th Ave S Unit 01 Minneapolis, MN	2.0	1.0	864	$1,495	$1.73	9d	1	0.82mi
2730 Portland Ave Minneapolis, MN	1.0–3.0	1.0–2.0	940	$1,395	$1.48	9d	3	0.91mi
3718 Oakland Ave Unit 2 Minneapolis, MN	2.0	1.0	700	$1,150	$1.64	25d	1	0.94mi
3139 3rd Ave S Unit 3 Minneapolis, MN	2.0	1.0	725	$1,450	$2.00	45d	1	0.96mi
2615 E 29th St Minneapolis, MN	2.0	1.0–2.0	660	$1,925	$2.91	0d	18	0.97mi
3601 4th Ave S Unit 101 Minneapolis, MN	3.0	2.0	1097	$2,350	$2.14	25d	1	0.97mi
3126 Minnehaha Ave Minneapolis, MN	2.0	1.0	562	$1,895	$3.37	0d	3	0.99mi
3136 Minnehaha Ave Minneapolis, MN	1.0–2.0	1.0	602	$1,795	$2.98	0d	2	1.00mi
2601 Portland Ave Minneapolis, MN	1.0	1.0	700	$1,505	$2.15	19d	1	1.00mi
3925 Chicago Ave Minneapolis, MN	2.0	1.0	1100	$1,450	$1.32	25d	1	1.03mi
3925 Chicago Ave Unit 1 Minneapolis, MN	2.0	1.0	1100	$1,500	$1.36	45d	1	1.03mi
2925 2nd Ave S Unit -4 Minneapolis, MN	1.0	1.0	720	$1,300	$1.81	25d	1	1.06mi
2925 2nd Ave S Unit 3 Minneapolis, MN	1.0	1.0	720	$1,400	$1.94	45d	1	1.06mi
3806 24th Ave S Minneapolis, MN	2.0	1.0–2.0	772	$2,305	$2.98	5d	11	1.08mi
3503 2nd Ave S Minneapolis, MN	2.0	1.0	560	$1,668	$2.98	0d	5	1.09mi
2220 Snelling Ave Minneapolis, MN	2.0	1.0–2.0	675	$2,024	$3.00	0d	26	1.11mi
2108 16th Ave S Unit 1 Minneapolis, MN	3.0	1.0	1020	$1,750	$1.72	45d	1	1.14mi
2113 11th Ave S Minneapolis, MN	3.0	1.0	900	$2,100	$2.33	19d	1	1.16mi
2625 3rd Ave S Unit 3 Minneapolis, MN	2.0	1.0	1000	$1,399	$1.40	5d	1	1.16mi
201 E 27th St Apt 12 Minneapolis, MN	1.0	1.0	850	$1,200	$1.41	25d	1	1.18mi
2107 Cedar Ave S Minneapolis, MN	3.0	1.0–2.0	792	$1,464	$1.85	0d	25	1.18mi

Listing history 17 events

1. 2026-06-16
   days on market $135,000 Active 30 DOM
2. 2026-06-15
   days on market $135,000 Active 29 DOM
3. 2026-06-13
   days on market $135,000 Active 27 DOM
4. 2026-06-09
   days on market $135,000 Active 23 DOM
5. 2026-06-08
   days on market $135,000 Active 22 DOM
6. 2026-06-07
   days on market $135,000 Active 21 DOM
7. 2026-06-04
   days on market $135,000 Active 18 DOM
8. 2026-06-03
   days on market $135,000 Active 17 DOM
9. 2026-06-02
   days on market $135,000 Active 16 DOM
10. 2026-06-01
    days on market $135,000 Active 15 DOM
11. 2026-05-31
    days on market $135,000 Active 14 DOM
12. 2026-05-18
    listed $135,000 Active
13. 1995-05-23
    soldstatus $24,500
14. 1995-05-23
    soldstatus $24,500
15. 1995-05-18
    soldstatus $24,500
16. 1995-01-23
    historical
17. 1994-10-14
    listed $24,500

ⓘ 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: $1,339 · $112/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$87/yr (+$7/mo · 6.5%)

ⓘ 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: $19,435
• − Mortgage interest: −$7,562
• − Property taxes: −$1,339
• − Insurance: −$675
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$3,927
• Taxable income: $2,822
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $4,167/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): 37,667
• Household income: $78,464
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1583.0

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 0.66)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 18% Two or more races 10% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 8% Romanian 3% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 20% 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: ▼ -211.97%
• Current HPI: 292.0322
• Rent YoY: ▲ 4.30%
• 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

+451.0% since first listed

6 events — show timeline

• 2026-05-18 Listed $135,000 FSBO.com
• 1995-05-23 Sold (Public Records) $24,500 Public Records
• 1995-05-23 Sold (Public Records) $24,500 Public Records
• 1995-05-18 Sold (MLS) $24,500 NORTHSTARMLS as Distributed by MLS Grid
• 1995-01-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-14 Listed $24,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $1,339 · +0.9% YoY. Source: county tax records.