11235 12th Ave N #7 · Plymouth, MN 55441

$215,000

3 bd · 1.0 ba · 1,332 sqft · Townhouse public records · 17 Days on market

Built 1962 $426/mo HOA · 18% of rent

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Why this score? — see what drove the C- 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 +14.6/30.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• 1% rule +5.7/10.0
• DSCR +4.5/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Have long term peace of mind with this top to bottom remodel. New roof in 2024. Newer vinyl windows. All new flooring and carpet. Brand new bathroom. All new bathroom tile and kitchen backsplash. New quartz kitchen countertops. New light and plumbing fixtures. New stainless-steel appliances. Freshly painted interiors. Live hassle free for years because big-ticket items are taken care off. Located within walking distance from Medicine Lake. This home’s HOA includes two designated parking stalls, covers most utilities except electricity and internet. Also, enjoy exterior maintenance-free living with lawn care and snow removal included in the HOA. Great value for the listed price.

Key facts

• New bathroom
• Newer vinyl windows
• New flooring

Tags

• TOP TO BOTTOM REMODEL
• NEW ROOF
• NEWER VINYL WINDOWS
• NEW FLOORING
• NEW BATHROOM
• NEW BATHROOM TILE

Property features AI

Finance

• Financial info: Rental license: standard/other (rental license active)
• HOA & community: Has HOA (Alchemy Properties); Monthly association fee of $426; HOA covers hazard insurance, heating, lawn care, grounds maintenance, professional management, sewer, snow removal, and water

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Electric service (100 amp); Electric fuel
• Home design: Attached residential property; One level (main living on one level with lower level); Block foundation
• Construction: Roof replaced or under 8 years old
• Exterior features: Stucco exterior; Association-maintained road

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms (one on main floor; two on lower level)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Hot water baseboard heating; Wall air-conditioning unit(s)
• Interior features: Finished basement; Informal dining room
• Laundry & utility: Washer and dryer located on the lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $52 ($630/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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 fast (+6.2%/yr); 91 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 17 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y 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 $165k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $211,775 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.16% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.61×
• Total profit: $-23,705
• Equity at exit: $32,057

10-year hold

• IRR: 3.5%
• Equity multiple: 1.29×
• Total profit: $17,714
• Equity at exit: $18,589

Cash invested: $60,200 (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 55441

• Rents YoY: 6.2%
• Active inventory: 91
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,311 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$130 /mo · $1,561/yr
• Insurance: −$90
• HOA: −$426
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $52

Break-even live

Break-even rent $2,244

Max offer price $215,000

Occupancy floor 93%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 W Medicine Lake Dr Minneapolis, MN	1.0–3.0	1.0–2.0	1272	$2,439	$1.92	3d	4	0.12mi
1300 W Medicine Lake Dr Minneapolis, MN	1.0–2.0	1.0–2.0	1016	$1,785	$1.76	2d	6	0.17mi
1798 Magnolia Ln N Plymouth, MN	2.0	1.0–1.5	1195	$2,370	$1.98	4d	4	0.80mi
10010 6th Ave N Minneapolis, MN	1.0–3.0	1.0–2.0	1100	$4,244	$3.86	1d	22	0.91mi
135 Nathan Ln N Minneapolis, MN	2.0	1.0–2.0	800	$1,750	$2.19	1d	20	1.08mi
200 Nathan Ln N Plymouth, MN	1.0–2.0	1.0–2.0	926	$1,908	$2.06	1d	5	1.19mi
301 Shelard Pkwy Minneapolis, MN	3.0	1.0–2.0	987	$2,679	$2.71	1d	16	1.22mi
275 Shelard Pkwy St Louis Park, MN	1.0–2.0	1.0–2.0	900	$1,709	$1.90	5d	11	1.26mi
11835 28th Ave N Minneapolis, MN	3.0	2.5	1575	$2,495	$1.58	4d	1	1.30mi
2500 Nathan Ln N Minneapolis, MN	2.0	1.0–1.5	1025	$1,524	$1.49	4d	2	1.34mi
330 Ford Rd #7 Minneapolis, MN	2.0	1.0	1200	$1,700	$1.42	12d	1	1.40mi
9201 Golden Valley Rd Minneapolis, MN	1.0–2.0	1.0–2.0	926	$2,733	$2.95	1d	19	1.40mi
11700 Wayzata Blvd Hopkins, MN	1.0–3.0	1.0–2.0	1170	$3,795	$3.24	1d	14	1.40mi
11816 Wayzata Blvd Hopkins, MN	1.0–2.0	1.0–2.0	940	$3,079	$3.27	1d	16	1.42mi
400 Ford Rd Minneapolis, MN	1.0–3.0	1.0–2.0	1025	$2,075	$2.02	1d	9	1.42mi
12300 Marion Ln W Minnetonka, MN	1.0–3.0	1.0–2.0	1206	$2,355	$1.95	3d	18	1.45mi

HOA detail

• Monthly dues: $426 · $5,112/yr
• Likely covers: electricinternetlandscapingsnow removalexterior maint.

Listing history 22 events

1. 2026-05-06
   status Pending
2. 2026-05-02
   historical Contingent - Inspection
3. 2026-05-01
   status Active
4. 2026-04-29
   historical
5. 2026-04-17
   listed $215,000 Active
6. 2025-10-14
   historical
7. 2025-07-17
   price $224,900
8. 2025-05-15
   listed $229,900 Active
9. 2025-03-18
   historical
10. 2025-03-13
    listed $234,900 Active
11. 2010-12-15
    soldstatus $165,000
12. 2005-11-04
    soldstatus $133,000
13. 2005-06-09
    historical
14. 2005-04-14
    listed $139,900
15. 2004-12-31
    historical
16. 2004-07-28
    listed $147,500
17. 2004-07-28
    historical
18. 2004-01-20
    listed $147,500
19. 2004-01-20
    historical
20. 2003-11-10
    listed $154,900
21. 2003-11-07
    historical
22. 2003-09-16
    listed $154,900

ⓘ 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: $1,561 · $130/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$424/yr (+$35/mo · 27.1%)

ⓘ 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,731
• − Mortgage interest: −$12,043
• − Property taxes: −$1,561
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − HOA: −$5,112
• − Depreciation: −$6,255
• Taxable loss: −$2,752
• Est. tax savings @ 24.0%: +$660
• After-tax cash flow: $1,290/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): 17,944
• Household income: $101,981
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 542.0

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 (71%)
• Race & ethnicity: White 71% Black 10% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Lithuanian 3% Romanian 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -303.44%
• Current HPI: 231.6438
• Rent YoY: ▲ 6.16%
• 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

+38.8% since first listed

22 events — show timeline

• 2026-05-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-17 Price Changed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-15 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-13 Listed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-15 Sold (Public Records) $165,000 Public Records
• 2005-11-04 Sold (Public Records) $133,000 Public Records
• 2005-06-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-14 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-28 Listed $147,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-01-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-01-20 Listed $147,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-10 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-16 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $1,561 · +10.0% YoY. Source: county tax records.