2179 Noble Ln · Mound, MN 55364

$359,900

4 bd · 2.0 ba · 1,837 sqft · SingleFamily public records · 13 Days on market

Built 1977 0.28 ac lot

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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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1977

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; Split entry (bi-level) layout; Entry/main living spaces on main level
• Construction: Block foundation; Asphalt roof
• Exterior features: Metal exterior

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 5 bedrooms (bedrooms located on main, upper and lower levels)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partially finished basement; One fireplace
• Laundry & utility: Laundry room on lower level; Utility room on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Cap rate 8.8% vs local median 1.8% in Mound — 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 (#20 in MN, #559 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F.
• Westonka Public School District (rural): math 65% / reading 68% proficiency, ranked #14 of 301 in MN (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 44% of the median local income ($109k/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 $11k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $360k implies a 759% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $359,900

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-9,499
• Equity at exit: $53,662

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $54,580
• Equity at exit: $31,118

Cash invested: $100,772 (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 55364

• Active inventory: 147
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,985 medium
• Mortgage (P&I): −$1,887
• Tax from tax record: −$344 /mo · $4,133/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $767

Break-even live

Break-even rent $3,015

Max offer price $359,900

Occupancy floor 76%

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5912 Bartlett Blvd Mound, MN	4.0	2.5	2500	$7,000	$2.80	1d	1	1.02mi
4870 Glasgow Rd Mound, MN	3.0	3.0	2592	$2,924	$1.13	3d	1	1.34mi

Listing history 7 events

1. 2026-06-04
   status $359,900 Pending 13 DOM
2. 2026-06-03
   days on market $359,900 Contingent - Inspection 13 DOM
3. 2026-06-02
   days on market $359,900 Contingent - Inspection 12 DOM
4. 2026-06-01
   days on market $359,900 Contingent - Inspection 11 DOM
5. 2026-05-31
   days on market $359,900 Contingent - Inspection 10 DOM
6. 2026-05-21
   listed $359,900 Active
7. 1977-09-01
   soldstatus $41,900

ⓘ 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: $4,133 · $344/mo
• Projected year-2 tax: $4,133 · $344/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $47,823
• − Mortgage interest: −$20,160
• − Property taxes: −$4,133
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,826
• − Management: −$3,826
• − Depreciation: −$10,470
• Taxable income: $3,609
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $8,333/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: Westonka Public School District
• NCES district ID: 2722920
• Math proficiency: 65% ▼ -14.00%
• Reading proficiency: 68% ▼ -10.00%
• Median HH income: $80,965
• Composite: 59.42/100
• National rank: #928
• State rank: #14 of 301 in MN

Livability — Mound

• Score: 85/100
• State rank: #20
• US rank: #559

Category grades

Amenities F Commute A+ Cost of living B- 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: Mound, MN
• County: Hennepin County · 1,150,272 people
• City population: 14,097
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 14,097
• Household income: $108,725
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 198.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% Chinese 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: ▼ -395.23%
• Current HPI: 249.0081
• Rent YoY: —
• 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

+758.9% since first listed

2 events — show timeline

• 2026-05-21 Listed $359,900 NORTHSTARMLS as Distributed by MLS Grid
• 1977-09-01 Sold (Public Records) $41,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,133 · -0.2% YoY. Source: county tax records.