925 30th Ave S

Minneapolis, MN 55406

$127,000B-

2 bd · 2.0 ba · 1,100 sqft · Built 1982 · Condo · Active · 169 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,637/mo
• Mortgage (P&I): −$666
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$344
• Net cashflow: $415/mo
• Annual: $4,986/yr
• Cap rate: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• 1% rule: 1.29%
• Cash to close: $35,560

Investor read

• This is a 2-bed/2.0-bath condo listed at $127k. Condition is rated fair.
• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $127k).
• It's been on market 169 days — a 12% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $878 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 2y ago; this cycle's ask is 8510% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.2% 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.

Questions for listing agent

• It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Weathered and possibly peeling, indicating significant deterioration.
• Major: Landscaping — Sparse and in need of maintenance, detracting from curb appeal.
• Major: Exterior paint — Condition of exterior paint is unknown, but it is likely in need of repainting to improve appearance.
• Major: Roof — Condition of the roof cannot be determined from the exterior view, but it is likely in need of inspection and potential repair or replacement.
• Minor: Interior paint — Paint appears to be in average condition, with some wear visible, indicating minor issues that could be addressed with touch-ups.
• Major: Landscaping — Sparse and in need of maintenance, detracting from curb appeal.