4748 Blaisdell Ave · Minneapolis, MN 55419

$725,000

16 bd · 16.0 ba · 3,220 sqft · MultiFamily public records · 14 Days on market

Built 1916 5,662 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare opportunity to own a stunning Craftsman-style 4-plex in the sought after Tangletown neighborhood. Each of the four units showcases beautiful original woodwork, hardwood floors, and timeless vintage details throughout. A very nice matching stucco 4 car garage with openers was built in 2002, which is a huge perk! Thoughtfully designed open layouts are filled with natural light, enhanced by charming wood work & custom-built oak buffets. Ideally situated in a vibrant, walkable location, this property is walking distance to popular cafes, restaurants, coffee shops, the salt caves, and more. Each unit is equipped with separated heating and electrical, offering convenience and efficien

Key facts

• 5,662 sq ft lot
• 4 garage spots
• Built 1916

Property features AI

Finance

• Other: Property is not owner-occupied; Standard rental license in place; Total of four residential units
• Financial info: Owner pays water, sewer and trash collection; Tenant pays electricity, gas and heat; Gross annual income reported: $63,360; Example operating expenses provided (for reference): fuel $189; electric $423; insurance $2,797; water/sewer $2,089; trash $2,125; other $1,163

Exterior

• Parking: Attached/detached garage space for four cars total (garage dimensions 37 x 19)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service provided by Xcel Energy
• Home design: Residential income property; Two levels
• Construction: Concrete and frame construction; Foundation dimensions approximately 46.5 x 35; Foundation area approximately 1,610
• Exterior features: Corner lot; City street frontage; Publicly maintained road

Interior

• Kitchen: Each unit includes a range and refrigerator
• Bedrooms: Four total bedrooms (property contains four 1-bedroom units)
• Bathrooms: Full bathrooms in each unit
• Heating & cooling: Boiler heating
• Interior features: Full basement; Corner lot with light tree coverage
• Laundry & utility: Lower-level laundry room

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $725k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $828/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $725k).
• Cap rate 11.8% 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.
• Market conditions: 150 active listings in the ZIP; high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $9,589/mo this rent would consume 78% of the median local household income ($148k/yr) (locally 399% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $203k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $106k; list at $725k implies a 586% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $725,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.32% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.57%
• DSCR: 1.87
• GRM: 6.3

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: 11.6%
• Equity multiple: 1.46×
• Total profit: $93,030
• Equity at exit: $108,100

10-year hold

• IRR: 20.5%
• Equity multiple: 2.73×
• Total profit: $351,206
• Equity at exit: $62,685

Cash invested: $203,000 (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 55419

• Active inventory: 150
• Price-to-rent: 25.2×

Monthly cashflow live

• Estimated rent: $9,589 medium
• Mortgage (P&I): −$3,802
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,014
• Net cashflow: $3,310

Break-even live

Break-even rent $5,399

Max offer price $725,000

Occupancy floor 60%

Sensitivity live

Price	-10% $3,721	-5% $3,515	+0% $3,310	+5% $3,105	+10% $2,900
Rent	-10% $2,553	-5% $2,931	+0% $3,310	+5% $3,689	+10% $4,068
Rate	-1.0pp $3,675	-0.5pp $3,495	base $3,310	+0.5pp $3,122	+1.0pp $2,931

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$9,588
Total (4 units)			$9,589

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-14
   historical Contingent - Inspection
3. 2026-04-10
   listed $725,000 Active
4. 2026-04-08
   historical $725,000
5. 1996-01-22
   soldstatus $105,700

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $5,027 · $419/mo
• Expected delta: +$3,093/yr (+$258/mo · 160.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $115,068
• − Mortgage interest: −$40,611
• − Property taxes: −$1,933
• − Insurance: −$3,625
• − Repairs & maintenance: −$9,205
• − Management: −$9,205
• − Depreciation: −$21,091
• Taxable income: $29,397
• Est. tax owed @ 24.0%: −$7,055
• After-tax cash flow: $32,666/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): 29,738
• Household income: $148,350
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 399.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -463.31%
• Current HPI: 252.7435
• 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

+585.9% since first listed

5 events — show timeline

• 2026-04-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $725,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Coming Soon $725,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-01-22 Sold (Public Records) $105,700 Public Records

Property tax history

-8.3%/yr

Latest (2025): $1,933 · -55.2% YoY. Source: county tax records.