15725 2nd Ave N · Plymouth, MN 55447

$575,000

4 bd · 3.0 ba · 1,945 sqft · SingleFamily public records · 14 Days on market

Built 1961 0.42 ac lot

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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
• Schools +6.9/10.0
• Cash flow +6.6/30.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Granite, SS appliances, barn doors, private master bath, fenced in yard, new roof, new furnace, new A/C. What's left to ponder? You have found YOUR home. Flexible on closing and ready to go. Don't miss this wonderful home presented by Engel & Völkers Minneapolis!

Key facts

• 0.42 acre lot
• 2 garage spots
• Built 1961

Property features AI

Exterior

• Parking: Asphalt driveway; 2-car detached/attached garage, approximately 24 x 24
• Utilities: City water connected; City sewer connected; Natural gas; 100 amp service with circuit breakers; Xcel Energy power
• Home design: Residential property; One level + finished lower level; Above- and below-grade finished living areas
• Construction: Block and concrete construction; Block foundation; Roof older than 8 years
• Exterior features: Wood exterior; Patio; Chain link full fencing; Medium tree coverage; Located within six blocks of public transit; City street with curbs and paved streets; public maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher; Stainless steel appliances
• Bedrooms: 4 bedrooms total (Primary on main level); Bedroom sizes on main level include: 11.5 x 11.5; 11.5 x 9; 9.5 x 10; Lower level bedroom: 9.5 x 11.5
• Bathrooms: Primary bathroom is 3/4; One full bathroom on main floor; Basement bathroom/3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with egress window(s); Gas fireplace in living room; Informal dining area and combined kitchen/dining or living/dining spaces; Primary bedroom suite; 3 bedrooms on one level
• Laundry & utility: Main/lower level laundry room; Washer and dryer included; Gas water heater; Owned water softener

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $575k.

Deal economics

• At list price, monthly cash flow is $-933 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $410k (28.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (39.3% below list).
• Recommended offer: $349k (39.3% below list) — sets the bar for 1% rule.
• Cap rate 4.3% 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 (+1.1%/yr); 120 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 runs 31% of the median local income ($134k/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 $4k of loan paydown is wiped out by about $17k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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 $365k; list at $575k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $349,250 (39.3% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.61% ✗
• Cap rate: 4.35%
• Cash-on-cash: -6.95%
• DSCR: 0.69
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -30.3%
• Equity multiple: 0.01×
• Total profit: $-159,104
• Equity at exit: $85,734

10-year hold

• IRR: -41.7%
• Equity multiple: -0.50×
• Total profit: $-240,792
• Equity at exit: $49,715

Cash invested: $161,000 (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 55447

• Rents YoY: 1.1%
• Active inventory: 120
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,492 medium
• Mortgage (P&I): −$3,015
• Tax from tax record: −$437 /mo · $5,246/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $-933

Break-even live

Break-even rent $4,674

Max offer price $410,176

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17035 9th Ave N Unit 1369955P Minneapolis, MN	3.0	2.0	1345	$5,192	$3.86	2d	1	0.96mi
15805 16th Pl N Minneapolis, MN	3.0	2.5	2141	$3,200	$1.49	12d	1	1.18mi
15100 18th Ave N Minneapolis, MN	1.0–3.0	1.0–2.0	1080	$2,412	$2.23	2d	13	1.41mi
910 Wayzata Blvd E Wayzata, MN	1.0–3.0	1.0–3.0	1427	$14,050	$9.85	2d	37	1.43mi

Listing history 9 events

1. 2026-06-18
   days on market $575,000 Active 14 DOM
2. 2026-06-17
   days on market $575,000 Active 13 DOM
3. 2026-06-16
   days on market $575,000 Active 12 DOM
4. 2026-06-15
   days on market $575,000 Active 11 DOM
5. 2026-06-13
   days on market $575,000 Active 9 DOM
6. 2026-06-09
   days on market $575,000 Active 5 DOM
7. 2026-06-08
   days on market $575,000 Active 4 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $575,000 Active 3 DOM

ⓘ 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: $5,246 · $437/mo
• Projected year-2 tax: $5,843 · $487/mo
• Expected delta: +$597/yr (+$50/mo · 11.4%)

ⓘ 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,910
• − Mortgage interest: −$32,209
• − Property taxes: −$5,246
• − Insurance: −$2,875
• − Repairs & maintenance: −$3,353
• − Management: −$3,353
• − Depreciation: −$16,727
• Taxable loss: −$21,853
• Est. tax savings @ 24.0%: +$5,245
• After-tax cash flow: $-5,952/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): 20,931
• Household income: $133,555
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 265.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 6% Asian 5% Hispanic / Latino 5% Black 3%
• Common ancestry: Portuguese 14% Romanian 4% Lithuanian 3%
• Foreign-born: 10% · Canada, China, Dominican Republic
• Languages at home: 88% English-only · Spanish 3% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▼ -380.57%
• Current HPI: 229.7126
• Rent YoY: ▲ 1.15%
• 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

+646.8% since first listed

17 events — show timeline

• 2026-06-05 Listed $575,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-04 Coming Soon $575,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-05 Sold (Public Records) $365,000 Public Records
• 2017-04-20 Sold (MLS) $365,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-16 Listed $359,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-28 Sold (Public Records) $233,000 Public Records
• 2010-04-19 Sold (MLS) $233,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-25 Listed $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-19 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-11 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 1986-04-01 Sold (Public Records) $80,000 Public Records
• 1981-10-01 Sold (Public Records) $77,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,246 · +6.2% YoY. Source: county tax records.