3507 Newton Ave N · Minneapolis, MN 55412

$249,900

4 bd · 1.0 ba · 1,125 sqft · SingleFamily public records · 167 Days on market

Built 1912 5,227 sqft lot $222/sqft · 20% above area Est $246k · at est.

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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).

• Cash flow +15.0/30.0
• ARV discount +6.8/15.0
• DSCR +4.6/10.0
• Rent growth +4.1/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated home featuring fresh paint and refinished hardwood floors. The kitchen has brand-new appliances, while the updated bathroom includes a new vanity, toilet, mirror, and modern lighting. All-new lighting fixtures enhance the home’s bright and welcoming feel. A versatile main-floor bedroom can easily serve as a home office or dining space. Enjoy the enclosed front porch during the warmer months, perfect for relaxing or entertaining. Convenient rear parking pad included.

Key facts

• Renovated home
• New vanity
• Rear parking pad

Tags

• RENOVATED HOME
• NEW APPLIANCES
• UPDATED BATHROOM
• NEW VANITY
• ENCLOSED FRONT PORCH
• REAR PARKING PAD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $79 ($948/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (11.2% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 39% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 167 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 33y 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.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $246,236
• List price: $249,900
• Delta: 1.49%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3859 Penn Ave N	0.49mi	3/1.0 (-1)	980 (-13%)	5mo	$239,500	$244	46
2806 Penn Ave N	0.70mi	3/2.0 (-1)	1,080 (-4%)	13mo	$214,500	$199	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -10.6%
• Equity multiple: 0.60×
• Total profit: $-27,735
• Equity at exit: $37,261

10-year hold

• IRR: 2.8%
• Equity multiple: 1.23×
• Total profit: $16,307
• Equity at exit: $21,607

Cash invested: $69,972 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,219 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$259 /mo · $3,110/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $79

Break-even live

Break-even rent $2,119

Max offer price $249,900

Occupancy floor 91%

Sensitivity live

Price	-10% $220	-5% $150	+0% $79	+5% $8	+10% $-62
Rent	-10% $-96	-5% $-9	+0% $79	+5% $167	+10% $254
Rate	-1.0pp $205	-0.5pp $143	base $79	+0.5pp $14	+1.0pp $-52

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	5d	1	0.35mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	16d	1	0.44mi
3238 Humboldt Ave N Minneapolis, MN	5.0	1.0	1389	$2,100	$1.51	45d	1	0.51mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	26d	1	0.63mi
3522 Bryant Ave N Minneapolis, MN	5.0	2.0	1449	$2,995	$2.07	45d	1	0.77mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	23d	1	0.85mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	23d	1	0.99mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	45d	1	0.99mi
3247 N 6th St Minneapolis, MN	5.0	1.5	1405	$2,350	$1.67	26d	1	0.99mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	26d	1	1.01mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	1d	1	1.03mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	45d	1	1.09mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	46d	1	1.10mi
3419 Grimes Ave N Minneapolis, MN	3.0	1.5	1300	$2,050	$1.58	45d	1	1.19mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	19d	1	1.19mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	5d	1	1.22mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	23d	1	1.22mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	16d	1	1.24mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	45d	1	1.33mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	5d	1	1.33mi
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	16d	1	1.43mi

Listing history 50 events

1. 2026-06-21
   days on market $249,900 Active 167 DOM
2. 2026-06-18
   days on market $249,900 Active 164 DOM
3. 2026-06-17
   days on market $249,900 Active 163 DOM
4. 2026-06-16
   days on market $249,900 Active 162 DOM
5. 2026-06-15
   days on market $249,900 Active 161 DOM
6. 2026-06-13
   days on market $249,900 Active 159 DOM
7. 2026-06-09
   days on market $249,900 Active 155 DOM
8. 2026-06-08
   days on market $249,900 Active 154 DOM
9. 2026-06-07
   days on market $249,900 Active 153 DOM
10. 2026-06-04
    days on market $249,900 Active 150 DOM
11. 2026-06-03
    days on market $249,900 Active 149 DOM
12. 2026-06-02
    days on market $249,900 Active 148 DOM
13. 2026-06-01
    days on market $249,900 Active 147 DOM
14. 2026-05-31
    days on market $249,900 Active 146 DOM
15. 2026-01-05
    listed $249,900 Active 499-char remark

    Show marketing remark (499 chars)

    Beautifully renovated home featuring fresh paint and refinished hardwood floors. The kitchen has brand-new appliances, while the updated bathroom includes a new vanity, toilet, mirror, and modern lighting. All-new lighting fixtures enhance the home’s bright and welcoming feel. A versatile main-floor bedroom can easily serve as a home office or dining space. Enjoy the enclosed front porch during the warmer months, perfect for relaxing or entertaining. Convenient rear parking pad included.

16. 2024-06-10
    soldstatus $3,924,247
17. 2024-03-07
    price $189,900
18. 2024-01-18
    listed $199,900 Active
19. 2024-01-18
    soldstatus $500
20. 2018-09-06
    soldstatus $42,250,079
21. 2014-10-29
    soldstatus $110,000
22. 2014-09-25
    soldstatus $110,000 Sold
23. 2014-09-25
    soldstatus $110,000
24. 2014-09-25
    soldstatus $110,000
25. 2014-09-13
    status Pending
26. 2014-09-02
    historical Contingent - Inspection
27. 2014-08-28
    listed $109,999 Active
28. 2014-08-28
    listed $109,999
29. 2014-08-28
    listed $109,999
30. 2013-12-30
    soldstatus $33,000 Sold
31. 2013-12-17
    status Pending
32. 2013-12-04
    listed $34,900 Active
33. 2011-01-29
    historical
34. 2010-07-29
    listed $44,900
35. 2010-05-11
    historical
36. 2009-11-18
    listed $74,900
37. 2008-01-24
    historical
38. 2007-10-08
    listed $129,900
39. 2006-11-12
    historical
40. 2006-06-20
    listed $154,900
41. 2006-06-19
    historical
42. 2006-05-11
    listed $149,900
43. 1997-09-03
    soldstatus $70,000
44. 1997-09-03
    soldstatus $40,500
45. 1997-08-21
    soldstatus $40,500
46. 1997-08-15
    historical
47. 1997-03-03
    listed $43,900
48. 1996-05-30
    historical
49. 1995-09-11
    listed $54,900
50. 1994-03-01
    historical

ⓘ 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: $3,110 · $259/mo
• Projected year-2 tax: $3,110 · $259/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 · 13 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: $26,624
• − Mortgage interest: −$13,998
• − Property taxes: −$3,110
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − Depreciation: −$7,270
• Taxable loss: −$3,263
• Est. tax savings @ 24.0%: +$783
• After-tax cash flow: $1,731/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

+496.4% since first listed

38 events — show timeline

• 2026-01-05 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-10 Sold (Public Records) $3,924,247 Public Records
• 2024-03-07 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-18 Sold (Public Records) $500 Public Records
• 2024-01-18 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-06 Sold (Public Records) $42,250,079 Public Records
• 2014-10-29 Sold (Public Records) $110,000 Public Records
• 2014-09-25 Sold (MLS) $110,000 LSAR
• 2014-09-25 Sold (MLS) $110,000 RASM
• 2014-09-25 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-28 Listed $109,999 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-28 Listed $109,999 LSAR
• 2014-08-28 Listed $109,999 RASM
• 2013-12-30 Sold (MLS) $33,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-04 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-29 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-18 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-08 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-20 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-11 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-09-03 Sold (Public Records) $40,500 Public Records
• 1997-09-03 Sold (Public Records) $70,000 Public Records
• 1997-08-21 Sold (MLS) $40,500 NORTHSTARMLS as Distributed by MLS Grid
• 1997-08-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-03-03 Listed $43,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-09-11 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-08-23 Listed $47,900 NORTHSTARMLS as Distributed by MLS Grid
• 1991-02-27 Sold (Public Records) $41,900 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,110 · +20.6% YoY. Source: county tax records.