5645 Green Circle Dr #108 · Minnetonka, MN 55343

$184,900

2 bd · 2.0 ba · 1,055 sqft · Condo public records · 31 Days on market

Built 1983 $400/mo HOA · 24% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.2/30.0
• Schools +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

Key facts

• $400 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (8.1% below list).
• Recommended offer: $140k (24.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.4% in Minnetonka — 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 75/100 on livability (#187 in MN, #3,994 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety F.
• Hopkins Public School District (suburban): math 48% / reading 57% proficiency, ranked #75 of 301 in MN (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.0%/yr); 132 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 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 $6k 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 31 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 34y 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 $132k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $139,720 (24.4% 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 31 days. Have you received any prior offers? Is the seller open to a 24% 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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.93%
• DSCR: 0.74
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.14×
• Total profit: $-44,301
• Equity at exit: $27,569

10-year hold

• IRR: -16.9%
• Equity multiple: 0.01×
• Total profit: $-51,412
• Equity at exit: $15,987

Cash invested: $51,772 (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 55343

• Rents YoY: 4.0%
• Active inventory: 132
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,700 high
• Mortgage (P&I): −$970
• Tax from tax record: −$152 /mo · $1,824/yr
• Insurance: −$77
• HOA: −$400
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-256

Break-even live

Break-even rent $2,024

Max offer price $139,720

Occupancy floor —

Sensitivity live

Price	-10% $-151	-5% $-203	+0% $-256	+5% $-308	+10% $-360
Rent	-10% $-390	-5% $-323	+0% $-256	+5% $-189	+10% $-121
Rate	-1.0pp $-163	-0.5pp $-209	base $-256	+0.5pp $-304	+1.0pp $-352

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1006 Westbrooke Way Unit 1006-1 Hopkins, MN	1.0	1.0	705	$1,200	$1.70	44d	1	0.28mi
1007 11th Ave S Unit 1007-4 Hopkins, MN	2.0	1.0	920	$1,450	$1.58	13d	1	0.30mi
820 Old Settlers Trl #6 Hopkins, MN	1.0	1.0	800	$1,275	$1.59	25d	1	0.35mi
10745 Smetana Rd Minnetonka, MN	2.0	1.0–2.0	811	$1,725	$2.13	0d	19	0.35mi
946 Westbrooke Way #1 Hopkins, MN	1.0	1.0	770	$1,250	$1.62	44d	1	0.41mi
946 Westbrooke Way #3 Hopkins, MN	1.0	1.0	786	$1,325	$1.69	44d	1	0.41mi
932 Westbrooke Way #8 Hopkins, MN	2.0	1.0	918	$1,375	$1.50	6d	1	0.43mi
11001 Bren Rd E Hopkins, MN	1.0–3.0	1.0–2.0	1001	$1,638	$1.64	0d	26	0.43mi
942 Westbrooke Way #1 Hopkins, MN	2.0	1.0	918	$1,550	$1.69	18d	1	0.43mi
930 Westbrooke Way Unit 930-1 Hopkins, MN	1.0	1.0	705	$1,250	$1.77	44d	1	0.44mi
926 Westbrooke Way Unit 926-8 Hopkins, MN	1.0	1.0	705	$1,300	$1.84	44d	1	0.44mi
917 11th Ave S Hopkins, MN	1.0	1.0	700	$995	$1.42	44d	1	0.48mi
810 9th Ave S #8 Hopkins, MN	1.0	1.0	700	$1,099	$1.57	13d	1	0.57mi
10702 Red Circle Dr Minnetonka, MN	3.0	1.0–3.0	953	$3,417	$3.58	0d	137	0.58mi
5995 Lincoln Dr Minneapolis, MN	2.0	1.0–2.0	1008	$3,096	$3.07	0d	17	0.67mi
10950 Red Circle Dr Hopkins, MN	2.0	1.0–2.0	876	$2,670	$3.05	0d	16	0.68mi
11050 Red Circle Dr Hopkins, MN	3.0	1.0–2.0	1110	$3,180	$2.86	0d	51	0.68mi
6670 Vernon Ave S #105 Minneapolis, MN	1.0	1.0	750	$1,900	$2.53	44d	1	0.97mi
6650 Vernon Ave S #407 Minneapolis, MN	2.0	1.0	903	$1,900	$2.10	12d	1	1.05mi
6100 Chasewood Pkwy Minnetonka, MN	1.0–2.0	2.0	868	$1,810	$2.09	4d	3	1.11mi
6426 W City Pkwy Eden Prairie, MN	1.0–2.0	1.0–2.0	891	$2,137	$2.40	0d	10	1.12mi
50 8th Ave S Hopkins, MN	2.0	1.0–2.0	906	$2,280	$2.52	0d	9	1.36mi
9 7th Ave S Hopkins, MN	1.0–2.0	1.0	710	$1,400	$1.97	6d	1	1.45mi
1118 Mainstreet Hopkins, MN	2.0	1.0–2.0	774	$3,345	$4.32	0d	17	1.47mi
5709 Rowland Rd Hopkins, MN	1.0	1.0	714	$1,615	$2.26	6d	2	1.50mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-15
   status Pending 1016-char remark

   Show marketing remark (1016 chars)

   Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

2. 2026-05-06
   historical Contingent - Inspection 1016-char remark

   Show marketing remark (1016 chars)

   Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

3. 2026-05-01
   status Active 1016-char remark

   Show marketing remark (1016 chars)

   Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

4. 2026-04-25
   historical 1016-char remark

   Show marketing remark (1016 chars)

   Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

5. 2026-04-09
   listed $184,900 Active 1016-char remark

   Show marketing remark (1016 chars)

   Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering comfort, convenience, and peaceful natural views. The bright, open layout features an updated kitchen, modern light fixtures throughout, and the ease of in-unit laundry with a washer and dryer. The spacious living room flows seamlessly to a large private balcony overlooking serene woods and marshland—perfect for relaxing. The primary suite includes a private ensuite bath and walk through closet, while a second bedroom and full bath provide flexibility for guests or a home office. Enjoy the added value of two extra storage lockers, an assigned parking space in the garage and association dues that cover most major expenses for low-maintenance living. Community amenities include a pool and sauna, completing this ideal retreat. Located near a variety of restaurants, endless walking and biking paths, and with easy access to major highways, this home offers the perfect blend of tranquility and everyday convenience. Welcome home!

6. 2008-06-23
   soldstatus $132,500
7. 2008-06-01
   soldstatus $132,500 242-char remark

   Show marketing remark (242 chars)

   NEW KITCHEN, PERGO FLOORS, 3/4 BATH IN MASTER BEDROOM. WHITE TRIM. MAIN FLOOR WITH NICE DECK. 6-PANEL DOORS. MOVE-IN CONDITION. OUTDOOR POOL, MILES OF WALKING TRAILS. SUPER LOCATION. FHA APPROVED. DON'T MISS THIS ONE! STORAGE LOCKER S-7, TOO!

8. 2008-05-27
   historical 242-char remark

   Show marketing remark (242 chars)

   NEW KITCHEN, PERGO FLOORS, 3/4 BATH IN MASTER BEDROOM. WHITE TRIM. MAIN FLOOR WITH NICE DECK. 6-PANEL DOORS. MOVE-IN CONDITION. OUTDOOR POOL, MILES OF WALKING TRAILS. SUPER LOCATION. FHA APPROVED. DON'T MISS THIS ONE! STORAGE LOCKER S-7, TOO!

9. 2008-04-17
   listed $139,900 242-char remark

   Show marketing remark (242 chars)

   NEW KITCHEN, PERGO FLOORS, 3/4 BATH IN MASTER BEDROOM. WHITE TRIM. MAIN FLOOR WITH NICE DECK. 6-PANEL DOORS. MOVE-IN CONDITION. OUTDOOR POOL, MILES OF WALKING TRAILS. SUPER LOCATION. FHA APPROVED. DON'T MISS THIS ONE! STORAGE LOCKER S-7, TOO!

10. 2006-02-07
    soldstatus $134,000
11. 2006-01-19
    soldstatus $134,000
12. 2005-12-01
    historical
13. 2005-08-24
    listed $134,000
14. 2005-08-09
    historical
15. 2005-03-07
    listed $149,900
16. 1992-10-15
    soldstatus $56,000
17. 1992-08-25
    soldstatus $56,000
18. 1992-07-07
    listed $57,500

ⓘ 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: $1,824 · $152/mo
• Projected year-2 tax: $1,948 · $162/mo
• Expected delta: +$123/yr (+$10/mo · 6.8%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,399
• − Mortgage interest: −$10,357
• − Property taxes: −$1,824
• − Insurance: −$924
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − HOA: −$4,800
• − Depreciation: −$5,379
• Taxable loss: −$6,150
• Est. tax savings @ 24.0%: +$1,476
• After-tax cash flow: $-1,593/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: Hopkins Public School District
• NCES district ID: 2714260
• Math proficiency: 48% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $66,915
• Composite: 46.44/100
• National rank: #2448
• State rank: #75 of 301 in MN

Livability — Minnetonka

• Score: 75/100
• State rank: #187
• US rank: #3994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minnetonka, MN
• County: Hennepin County · 1,150,272 people
• City population: 41,857
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 27,102
• Household income: $83,143
• Rent vs Own: 53.5% rent · 46.5% own
• Severe rent burden: 1514.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 4% Asian 4%
• Common ancestry: Portuguese 10% Romanian 4% Scottish 3%
• Foreign-born: 12% · Canada, United Kingdom
• Languages at home: 85% English-only · Spanish 3% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -223.01%
• Current HPI: 252.3059
• Rent YoY: ▲ 4.00%
• 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

+221.6% since first listed

18 events — show timeline

• 2026-05-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listed $184,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-23 Sold (Public Records) $132,500 Public Records
• 2008-06-01 Sold (MLS) $132,500 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-17 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-02-07 Sold (Public Records) $134,000 Public Records
• 2006-01-19 Sold (MLS) $134,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-24 Listed $134,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-03-07 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-10-15 Sold (Public Records) $56,000 Public Records
• 1992-08-25 Sold (MLS) $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 1992-07-07 Listed $57,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $1,824 · -3.1% YoY. Source: county tax records.