15207 60th Ave N · Plymouth, MN 55446

$332,500

3 bd · 2.0 ba · 1,777 sqft · Townhouse public records · 67 Days on market

Built 2007 1,408 sqft lot $187/sqft · 14% below area Est $382k · 13% under $352/mo HOA · 14% 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).

• ARV discount +13.3/15.0
• Schools +6.9/10.0
• Cash flow +6.4/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

Key facts

• $352 HOA
• 2 garage spots
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $332k.

Deal economics

• At list price, monthly cash flow is $-583 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (31.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (25.2% below list).
• Recommended offer: $230k (31.0% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 3.1% in Plymouth — 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 85/100 on livability (#17 in MN, #517 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F.
• Wayzata Public School District (urban): math 75% / reading 78% proficiency, ranked #2 of 301 in MN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.7%/yr); 212 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 is only 18% of the median local income ($171k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• It's been on market 67 days — a 6% lower offer ($313k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $233k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $229,582 (31.0% 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. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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 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: 0.75% ✗
• Cap rate: 4.19%
• Cash-on-cash: -7.51%
• DSCR: 0.67
• GRM: 11.1

CMA / ARV

• ARV (median comp): $381,551
• List price: $332,500
• Delta: -12.86%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.7% rent growth · sell at horizon

5-year hold

• IRR: -28.4%
• Equity multiple: 0.04×
• Total profit: $-89,029
• Equity at exit: $49,577

10-year hold

• IRR: -24.7%
• Equity multiple: -0.26×
• Total profit: $-117,180
• Equity at exit: $28,749

Cash invested: $93,100 (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 55446

• Home prices YoY: -24.0%
• Rents YoY: 3.7%
• Active inventory: 212
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,489 high
• Mortgage (P&I): −$1,744
• Tax from tax record: −$314 /mo · $3,772/yr
• Insurance: −$139
• HOA: −$352
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $-583

Break-even live

Break-even rent $3,226

Max offer price $229,582

Occupancy floor —

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: $83,125
• Closing costs: $9,975
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15375 60th Ave N Minneapolis, MN	3.0	3.0	2400	$2,400	$1.00	14d	1	0.13mi
15375 60th Ave N Minneapolis, MN	3.0	3.0	2400	$2,400	$1.00	10d	1	0.13mi
15377 60th Ave N Minneapolis, MN	3.0	2.5	1792	$2,400	$1.34	16d	1	0.13mi
5120 Yuma Ln N Plymouth, MN	3.0	3.5	2200	$2,750	$1.25	43d	1	1.14mi
13874 52nd Ave N Minneapolis, MN	2.0	1.5	1500	$1,995	$1.33	24d	1	1.18mi
13874 52nd Ave N Minneapolis, MN	2.0	1.5	1500	$1,995	$1.33	4d	1	1.18mi
5305 Fountain Ln N Plymouth, MN	3.0–4.0	2.5–3.5	2237	$3,655	$1.63	1d	1	1.23mi
5200 Annapolis Ln N Minneapolis, MN	2.0	1.0–2.0	953	$2,330	$2.44	2d	13	1.24mi
5814 Teakwood Ln N Plymouth, MN	2.0–3.0	1.0–2.0	1224	$2,534	$2.07	1d	12	1.31mi

HOA detail

• Monthly dues: $352 · $4,224/yr

Listing history 24 events

1. 2026-06-18
   days on market $332,500 Active 67 DOM
2. 2026-06-17
   days on market $332,500 Active 66 DOM
3. 2026-06-16
   days on market $332,500 Active 65 DOM
4. 2026-06-15
   days on market $332,500 Active 64 DOM
5. 2026-06-13
   days on market $332,500 Active 62 DOM
6. 2026-06-09
   days on market $332,500 Active 58 DOM
7. 2026-06-08
   days on market $332,500 Active 57 DOM
8. 2026-06-07
   days on market $332,500 Active 56 DOM
9. 2026-06-04
   days on market $332,500 Active 53 DOM
10. 2026-06-03
    days on market $332,500 Active 52 DOM
11. 2026-06-02
    days on market $332,500 Active 51 DOM
12. 2026-06-01
    days on market $332,500 Active 50 DOM
13. 2026-05-31
    days on market $332,500 Active 49 DOM
14. 2026-05-13
    price $332,500 918-char remark

    Show marketing remark (918 chars)

    This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

15. 2026-05-06
    status Active 918-char remark

    Show marketing remark (918 chars)

    This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

16. 2026-05-01
    historical Contingent - Inspection 918-char remark

    Show marketing remark (918 chars)

    This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

17. 2026-04-13
    listed $352,500 Active 918-char remark

    Show marketing remark (918 chars)

    This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

18. 2026-04-06
    historical $352,500 918-char remark

    Show marketing remark (918 chars)

    This three-bedroom, three-bathroom townhome is located in one of the most private locations within the Legacy Park Townhome Development. The residence offers a unique view from your front door which overlooks a large nature area surrounded by the Northwest Greenway Trail System. The Northwest Greenway is more than 300 acres of open space, stretching from Lake Camelot on the east to Wayzata High School on the west. The Northwest Greenway connects to the Medicine Lake Regional Trail, which links French and Elm Creek regional parks. Walk across the private street and start walking or biking through these beautiful and scenic trails. It is also located in the Wayzata school district, recognized as one of the highest rated in the metro area. Recent appliance upgrades include new washer and dryer as well as new refrigerator. This home is in move in condition and ready to make it yours. Schedule a showing today.

19. 2014-05-20
    soldstatus $232,900 Sold 197-char remark

    Show marketing remark (197 chars)

    STUNNING TARYN HILLS TOWNHOME, COZY SEE THRU GAS FPLC IN LR, KIT W/GRANITE CTRS & RAISED PANEL CABS & CTR ISLAND, 3 BRS ONE LEVEL, 3 BATHS, LG LOFT, FRESH PAINT, PATIO, 2 CAR GAR, FAB VIEW!

20. 2014-05-20
    soldstatus $232,900

    Show marketing remark (197 chars)

    STUNNING TARYN HILLS TOWNHOME, COZY SEE THRU GAS FPLC IN LR, KIT W/GRANITE CTRS & RAISED PANEL CABS & CTR ISLAND, 3 BRS ONE LEVEL, 3 BATHS, LG LOFT, FRESH PAINT, PATIO, 2 CAR GAR, FAB VIEW!

21. 2014-04-16
    status Pending 197-char remark

    Show marketing remark (197 chars)

    STUNNING TARYN HILLS TOWNHOME, COZY SEE THRU GAS FPLC IN LR, KIT W/GRANITE CTRS & RAISED PANEL CABS & CTR ISLAND, 3 BRS ONE LEVEL, 3 BATHS, LG LOFT, FRESH PAINT, PATIO, 2 CAR GAR, FAB VIEW!

22. 2014-04-02
    historical Contingent - Other 197-char remark

    Show marketing remark (197 chars)

    STUNNING TARYN HILLS TOWNHOME, COZY SEE THRU GAS FPLC IN LR, KIT W/GRANITE CTRS & RAISED PANEL CABS & CTR ISLAND, 3 BRS ONE LEVEL, 3 BATHS, LG LOFT, FRESH PAINT, PATIO, 2 CAR GAR, FAB VIEW!

23. 2014-03-25
    listed $232,900 Active 197-char remark

    Show marketing remark (197 chars)

    STUNNING TARYN HILLS TOWNHOME, COZY SEE THRU GAS FPLC IN LR, KIT W/GRANITE CTRS & RAISED PANEL CABS & CTR ISLAND, 3 BRS ONE LEVEL, 3 BATHS, LG LOFT, FRESH PAINT, PATIO, 2 CAR GAR, FAB VIEW!

24. 2014-03-21
    listed $232,900

ⓘ 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: $3,772 · $314/mo
• Projected year-2 tax: $3,772 · $314/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 3/10 Moderate
• 🌡 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: $29,863
• − Mortgage interest: −$18,625
• − Property taxes: −$3,772
• − Insurance: −$1,662
• − Repairs & maintenance: −$2,389
• − Management: −$2,389
• − HOA: −$4,224
• − Depreciation: −$9,673
• Taxable loss: −$12,872
• Est. tax savings @ 24.0%: +$3,089
• After-tax cash flow: $-3,902/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: Wayzata Public School District
• NCES district ID: 2742160
• Math proficiency: 75% ▼ -4.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $91,783
• Composite: 68.75/100
• National rank: #336
• State rank: #2 of 301 in MN

Livability — Plymouth

• Score: 85/100
• State rank: #17
• US rank: #517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plymouth, MN
• County: Hennepin County · 1,150,272 people
• City population: 79,816
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 28,247
• Household income: $170,625
• Rent vs Own: 17.4% rent · 82.6% own
• Severe rent burden: 364.0

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 (65%)
• Race & ethnicity: White 65% Asian 20% Two or more races 7% Black 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 9% Romanian 4% Scottish 3%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 7% Other Indo-European 6% Spanish 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: ▼ -63.27%
• Current HPI: 200.5438
• Rent YoY: ▲ 3.70%
• 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

+42.8% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $332,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Listed $352,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Coming Soon $352,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-20 Sold (MLS) $232,900 LSAR
• 2014-05-20 Sold (MLS) $232,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-25 Listed $232,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-21 Listed $232,900 LSAR

Property tax history

+4.0%/yr

Latest (2025): $3,772 · +1.4% YoY. Source: county tax records.