2022 Sheridan Ave N · Minneapolis, MN 55411

$224,000

3 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 27 Days on market

Built 1951 5,227 sqft lot $184/sqft · at area comps Est $223k · at est.

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.3/15.0
• DSCR +4.3/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

Key facts

• Solid core oak doors
• Original glass knobs
• 5,227 sq ft lot

Tags

• REFINISHED HARDWOOD FLOORS
• LIGHT FILLED LIVING ROOM
• ORIGINAL GLASS KNOBS
• FLOOR TO CEILING WINDOWS
• SOLID CORE OAK DOORS
• STUNNING COVED CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $31 ($370/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (11.8% below list).
• Recommended offer: $198k (11.8% below list) — sets the bar for 1% rule.
• 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.
• Zoned schools: Bethune Elementary (math 2% / reading 12%, grade F, #842 of 857 statewide, top 99%, 276 students, 90% FRL); Franklin Middle (math 2% / reading 8%, grade F, #255 of 258 statewide, top 100%, 287 students, 89% FRL); Henry High (reading 70%, 858 students, 80% FRL) — zoned schools average 86% FRL vs 58% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 6% at this address vs 40% district-wide (-34 pts) — the specific schools serving this property underperform the Minneapolis Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.3%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/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 $7k 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 27 days — a 2% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,510 (11.8% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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?
4. 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?
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: 0.88% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (median comp): $223,068
• List price: $224,000
• Delta: 0.42%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2806 Penn Ave N	0.63mi	3/2.0	1,080 (-11%)	13mo	$214,500	$199	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.60×
• Total profit: $-25,294
• Equity at exit: $33,399

10-year hold

• IRR: 3.9%
• Equity multiple: 1.34×
• Total profit: $21,085
• Equity at exit: $19,367

Cash invested: $62,720 (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 55411

• Home prices YoY: -8.7%
• Rents YoY: 7.3%
• Active inventory: 133
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,975 high
• Mortgage (P&I): −$1,175
• Tax from tax record: −$262 /mo · $3,138/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $31

Break-even live

Break-even rent $1,936

Max offer price $224,000

Occupancy floor 93%

Sensitivity live

Price	-10% $158	-5% $94	+0% $31	+5% $-33	+10% $-96
Rent	-10% $-125	-5% $-47	+0% $31	+5% $109	+10% $187
Rate	-1.0pp $144	-0.5pp $88	base $31	+0.5pp $-27	+1.0pp $-86

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2411 Golden Valley Rd Unit 2 Minneapolis, MN	4.0	2.0	1200	$2,395	$2.00	16d	1	0.10mi
2211 Queen Ave N Unit 1 Minneapolis, MN	3.0	1.0	983	$1,695	$1.72	19d	1	0.17mi
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,700	$1.68	22d	1	0.24mi
1649 Russell Ave N Unit 2 Minneapolis, MN	3.0	1.0	1011	$1,650	$1.63	0d	1	0.24mi
2356 N Thomas Ave Unit 2 Minneapolis, MN	3.0	1.0	1000	$1,800	$1.80	45d	1	0.29mi
2000 W Broadway Ave Minneapolis, MN	2.0	1.0	952	$1,350	$1.42	9d	4	0.35mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	16d	3	0.39mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	46d	1	0.42mi
1816 Zephyr Pl Minneapolis, MN	3.0	1.0	1120	$2,050	$1.83	45d	1	0.44mi
1507 N Newton Ave Unit 2 Minneapolis, MN	4.0	1.0	1068	$1,499	$1.40	45d	1	0.49mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	16d	1	0.60mi
2419 Plymouth Ave N Minneapolis, MN	2.0–3.0	1.0	836	$1,795	$2.15	6d	2	0.60mi
1239 Sheridan Ave N Minneapolis, MN	1.0–2.0	1.0	795	$1,250	$1.57	6d	4	0.60mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	6d	1	0.61mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	24d	1	0.61mi
1255 Queen Ave N Minneapolis, MN	1.0–2.0	1.0	633	$1,419	$2.24	5d	4	0.62mi
1429 Knox Ave N Unit 1429 Minneapolis, MN	4.0	1.0	1260	$1,995	$1.58	45d	1	0.63mi
1237 Knox Ave N Unit 1237 Minneapolis, MN	3.0	1.0	1196	$1,900	$1.59	6d	1	0.79mi
2124 Fremont Ave N Minneapolis, MN	2.0	1.0	1050	$1,580	$1.50	4d	1	0.82mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	16d	1	0.84mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	1d	1	0.84mi
1407 N Girard Ave Unit 2 Minneapolis, MN	2.0	1.0	1472	$1,900	$1.29	19d	1	0.84mi
1016 N Newton Ave Unit 4 Minneapolis, MN	3.0	1.0	1009	$1,895	$1.88	45d	1	0.86mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	24d	1	0.86mi
2600 France Ave N Unit 2600 Minneapolis, MN	2.0	1.5	1100	$1,599	$1.45	6d	1	0.91mi
816 Queen Ave N Minneapolis, MN	3.0	1.0	1200	$1,895	$1.58	45d	1	0.92mi
1030 Knox Ave N Apt 2 Minneapolis, MN	4.0	1.0	900	$2,099	$2.33	45d	1	0.94mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	16d	1	0.96mi
2620 Emerson Ave N Minneapolis, MN	3.0	1.0	877	$1,900	$2.17	1d	1	0.99mi
835 W Broadway Ave Minneapolis, MN	1.0–2.0	1.0–2.0	849	$2,150	$2.53	5d	7	1.05mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	19d	1	1.11mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	26d	1	1.12mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	16d	1	1.17mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	0d	1	1.17mi
519 Penn Ave N Minneapolis, MN	4.0	2.0	1500	$2,195	$1.46	9d	1	1.17mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	6d	1	1.20mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	26d	1	1.21mi
2226 Glenwood Ave Unit 1 Minneapolis, MN	3.0	1.0	1100	$1,399	$1.27	1d	1	1.32mi
2212 Glenwood Ave Unit 1 Minneapolis, MN	2.0	1.0	950	$1,299	$1.37	45d	1	1.33mi
1901 4th Ave N Minneapolis, MN	3.0	2.0	1300	$1,300	$1.00	26d	1	1.33mi

Listing history 9 events

1. 2026-05-08
   price $224,000
2. 2026-04-17
   listed $235,000 Active
3. 2023-09-28
   soldstatus $210,000
4. 2023-09-15
   soldstatus $210,000 Sold 680-char remark

   Show marketing remark (680 chars)

   Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

5. 2023-08-05
   status Pending 680-char remark

   Show marketing remark (680 chars)

   Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

6. 2023-07-21
   status Active 680-char remark

   Show marketing remark (680 chars)

   Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

7. 2023-07-17
   historical Contingent - Inspection 680-char remark

   Show marketing remark (680 chars)

   Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

8. 2023-07-10
   listed $220,000 Active 680-char remark

   Show marketing remark (680 chars)

   Back on the market! Lucky you! Newly refinished hardwood floors in the living and dining room. Fresh paint in the living room & dining room. Original vintage yellow tile (no damage or cracks) in the main floor bathroom. 2 bedrooms on the main floor, with a 3rd spacious bedroom upstairs. Huge basement family room, with additional bathroom and bar area. Large unfinished laundry room with plenty of space for storage and a workshop. The house roof and siding were replaced in 2012. The 2 car garage was built in 2012. The garage roof overhand is perfect for a patio/garden workspace or outdoor kitchen area. Property is move in ready but needs work (painting, handyman fixes).

9. 1983-10-01
   soldstatus $10,500

ⓘ 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: $3,138 · $262/mo
• Projected year-2 tax: $3,138 · $262/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: $23,701
• − Mortgage interest: −$12,547
• − Property taxes: −$3,138
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$6,516
• Taxable loss: −$3,413
• Est. tax savings @ 24.0%: +$819
• After-tax cash flow: $1,189/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): 27,741
• Household income: $60,225
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1826.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 49% White 23% Two or more races 11% Hispanic / Latino 11% Asian 9%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 1%
• Foreign-born: 19% · Canada, Guatemala
• Languages at home: 68% English-only · Other Asian/Pacific 8% Spanish 8%

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: ▼ -33.91%
• Current HPI: 356.6758
• Rent YoY: ▲ 7.35%
• 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

+2033.3% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $224,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-28 Sold (Public Records) $210,000 Public Records
• 2023-09-15 Sold (MLS) $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-10 Listed $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 1983-10-01 Sold (Public Records) $10,500 Public Records

Property tax history

+7.0%/yr

Latest (2025): $3,138 · +9.5% YoY. Source: county tax records.