15 S 1st St Unit A505 · Minneapolis, MN 55401

$146,000

1 bd · 1.0 ba · 667 sqft · Condo public records · 16 Days on market

Built 1965 $581/mo HOA · 29% 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 +14.2/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• DSCR +4.3/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Vibrancy of living in downtown! Minneapolis! Massive gated landscaped courtyard w/8 maintained gas grills, 80' outdoor pool, private outdoor tennis courts, 2 fitness centers, M & W sauna, rooftop patio, party room w/ full kitchen, library. 24 hr onsite maintenance and security. Cross street to 8 miles of skyway, Steps to river pkwy, Guthrie, restaurants, Vikings Stadium. Heated secure underground pkg avail for $95/mo via waiting list. Adjacent studio also for sale potential 2 bed floor plan.

Key facts

• Outdoor pool
• Rooftop deck
• Skyline views

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• ROOFTOP DECK
• RIVER VIEWS
• SKYLINE VIEWS
• OUTDOOR POOL

Property features AI

Finance

• Other: Shared building amenities include laundry, coin-op laundry, and multiple community spaces
• HOA & community: HOA managed by Sudler Management; Monthly association fee; Association amenities include: controlled access, elevator(s), lobby entrance, patio, tennis courts, trails, car wash, in-ground sprinkler system, common garden, and shared amenities; Association covers air conditioning, gas, heating, hazard insurance, lawn care, grounds maintenance, professional management, sewer, snow removal and water

Exterior

• Parking: Heated underground parking; Additional onsite parking available for a fee; Secured parking and open parking options
• Security: 24-hour guard; Controlled access / secured building
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Attached residential unit; One-story living; Main-level entry
• Construction: Other foundation type
• Exterior features: Stone exterior; Shared below-ground heated pool; Exercise room in building; Shared community rooms including amusement/party room, business center, community room, and guest suite

Interior

• Kitchen: Kitchen on the main level (approx. 7.7 x 11.4)
• Bedrooms: One bedroom on the main level (approx. 10.10 x 16.2)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Accessible features including 36+ inch doors, 42+ inch hallways, grab bars in bathroom, no internal or external stairs, and an accessible elevator
• Laundry & utility: Shared laundry / coin-op laundry available in the building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $146k.

Deal economics

• At list price, monthly cash flow is $25 ($298/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $144k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% 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: Rents rising fast (+5.5%/yr); 160 active listings in the ZIP; 40 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).

Forward outlook

• In year one you build about $398 of equity ($1k loan paydown + $-611 appreciation (-0.4% local appreciation)).
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.4% appreciation + 5.5% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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: HOA is 29% of rent.

Recommended offer $143,810 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.39% ✓
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.42% appreciation · 5.49% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $36
• Equity at exit: $39,366

10-year hold

• IRR: 8.9%
• Equity multiple: 2.03×
• Total profit: $42,032
• Equity at exit: $44,966

Cash invested: $40,880 (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 55401

• Home prices YoY: -0.2%
• Rents YoY: 5.5%
• Active inventory: 160
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,023 high
• Mortgage (P&I): −$766
• Tax from tax record: −$166 /mo · $1,993/yr
• Insurance: −$61
• HOA: −$581
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $25

Break-even live

Break-even rent $1,992

Max offer price $146,000

Occupancy floor 94%

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: $36,500
• Closing costs: $4,380
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 S Marquette Ave Minneapolis, MN	1.0–2.0	1.0–2.0	970	$1,516	$1.56	2d	12	0.05mi
120 Hennepin Ave Minneapolis, MN	2.0	1.0–2.0	960	$2,590	$2.70	7d	10	0.08mi
115 2nd Ave S Minneapolis, MN	1.0	1.0	508	$1,371	$2.70	2d	15	0.12mi
222 Hennepin Ave Minneapolis, MN	1.0–2.0	1.0–2.0	994	$2,040	$2.05	1d	12	0.17mi
110 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	885	$1,719	$1.94	2d	20	0.17mi
120 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.5	1039	$1,591	$1.53	1d	19	0.20mi
270 Hennepin Ave Minneapolis, MN	3.0	1.0–3.0	1505	$4,088	$2.72	2d	54	0.23mi
313 Washington Ave S Minneapolis, MN	2.0	1.0–2.0	836	$2,288	$2.73	2d	9	0.27mi
365 Nicollet Mall Minneapolis, MN	3.0	1.0–3.5	1656	$4,363	$2.63	2d	33	0.28mi
400 Marquette Ave Minneapolis, MN	3.0	1.0–2.0	1103	$2,905	$2.63	1d	14	0.31mi
316 N 2nd St Minneapolis, MN	1.0–2.0	1.0–2.0	795	$1,417	$1.78	2d	10	0.33mi
465 Nicollet Mall Minneapolis, MN	2.0	1.0–3.0	1153	$3,030	$2.63	1d	14	0.34mi
360 1st St N Minneapolis, MN	1.0–2.0	1.0–2.0	889	$1,834	$2.06	2d	11	0.35mi
101 S 5th St Minneapolis, MN	3.0	1.0–2.0	1249	$2,289	$1.83	2d	35	0.38mi
401 N 1st St Minneapolis, MN	—	1.0	531	$1,282	$2.41	43d	1	0.40mi
337 N Washington Ave Minneapolis, MN	2.0	1.0–2.0	796	$2,114	$2.65	1d	30	0.42mi
250 Portland Ave Minneapolis, MN	1.0–2.0	1.0–2.0	902	$1,950	$2.16	2d	11	0.44mi
225 Portland Ave Minneapolis, MN	2.0	1.0–2.0	837	$2,410	$2.88	2d	70	0.46mi
608 2nd Ave S Minneapolis, MN	2.0	1.0–2.0	999	$1,823	$1.82	2d	34	0.48mi
511 S 4th St Minneapolis, MN	2.0	1.0–2.0	882	$2,215	$2.51	2d	11	0.48mi
432 N 1st St Minneapolis, MN	1.0–2.0	1.0–2.0	1067	$1,395	$1.31	2d	6	0.50mi
240 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	1047	$2,075	$1.98	2d	2	0.51mi
205 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	859	$1,809	$2.11	7d	5	0.52mi
360 N 5th Ave Minneapolis, MN	2.0	1.0–2.5	1185	$4,452	$3.75	2d	85	0.52mi
528 Washington Ave N Minneapolis, MN	1.0	1.0	543	$2,629	$4.84	2d	18	0.52mi
600 5th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	915	$1,440	$1.57	1d	9	0.56mi
240 Chicago Ave Minneapolis, MN	2.0	1.0–2.0	825	$2,164	$2.62	1d	11	0.59mi
700 S 4th St Minneapolis, MN	2.0	1.0–2.0	897	$2,688	$2.99	1d	26	0.59mi
616 N Washington Ave Unit 1014635P Minneapolis, MN	1.0	1.0	742	$4,168	$5.62	7d	1	0.59mi
616 N Washington Ave Unit 1014633P Minneapolis, MN	1.0	1.0	742	$3,776	$5.09	43d	1	0.59mi
607 N Washington Ave Minneapolis, MN	1.0–2.0	1.0–2.0	845	$1,855	$2.20	2d	4	0.60mi
608 N 3rd St Minneapolis, MN	2.0	1.0–2.0	746	$2,446	$3.28	1d	64	0.60mi
315 N 7th Ave Minneapolis, MN	2.0	1.0–2.0	748	$2,314	$3.09	1d	12	0.62mi
811 Washington Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	862	$1,660	$1.93	19d	9	0.62mi
650 Portland Ave Minneapolis, MN	2.0	1.0–2.0	1104	$2,825	$2.56	2d	18	0.63mi
431 S 7th St #2610 Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	24d	1	0.64mi
333 E Hennepin Ave Minneapolis, MN	2.0	1.0–2.0	786	$2,458	$3.13	1d	18	0.64mi
431 S 7th St Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	10d	2	0.65mi
431 S 7th St Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	43d	2	0.65mi
200 University Ave SE Minneapolis, MN	3.0	1.0–3.0	1554	$3,878	$2.49	1d	25	0.65mi

HOA detail condo

• Monthly dues: $581 · $6,972/yr
• Likely covers: gaspoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $146,000 Active 16 DOM
2. 2026-06-17
   days on market $146,000 Active 15 DOM
3. 2026-06-16
   days on market $146,000 Active 14 DOM
4. 2026-06-15
   days on market $146,000 Active 13 DOM
5. 2026-06-13
   days on market $146,000 Active 11 DOM
6. 2026-06-09
   days on market $146,000 Active 7 DOM
7. 2026-06-08
   days on market $146,000 Active 6 DOM
8. 2026-06-07
   days on market $146,000 Active 5 DOM
9. 2026-06-04
   days on market $146,000 Active 2 DOM
10. 2026-06-03
    remarks 699-char remark
11. 2026-06-03
    listed $146,000 Active 1 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: $1,993 · $166/mo
• Projected year-2 tax: $1,993 · $166/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 · 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: $24,279
• − Mortgage interest: −$8,178
• − Property taxes: −$1,993
• − Insurance: −$730
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − HOA: −$6,972
• − Depreciation: −$4,247
• Taxable loss: −$1,726
• Est. tax savings @ 24.0%: +$414
• After-tax cash flow: $712/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): 11,816
• Household income: $113,522
• Rent vs Own: 71.6% rent · 28.4% own
• Severe rent burden: 610.0

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 (75%)
• Race & ethnicity: White 75% Asian 9% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 7% Lithuanian 5%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Chinese 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: ▼ -0.42%
• Current HPI: 233.936
• Rent YoY: ▲ 5.49%
• 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

+32.7% since first listed

10 events — show timeline

• 2026-06-02 Listed $146,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-05 Rental Removed $1,395 RMLSND
• 2024-07-19 Listed for Rent $1,395 RMLSND
• 2024-06-11 Rental Removed $1,395 RMLSND
• 2024-04-11 Listed for Rent $1,395 RMLSND
• 2018-11-01 Sold (Public Records) $157,000 Public Records
• 2018-10-26 Sold (MLS) $157,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-14 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-09-23 Sold (Public Records) $110,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,993 · +13.1% YoY. Source: county tax records.