11386 Eldorado St NE Unit B · Blaine, MN 55449

$269,999

2 bd · 2.0 ba · 1,632 sqft · Townhouse public records · 1 Days on market

Built 2002 871 sqft lot $165/sqft · 9% below area Est $298k · 9% under $453/mo HOA · 19% of rent

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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).

• ARV discount +11.8/15.0
• Cash flow +7.6/30.0
• Schools +4.7/10.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An exquisite townhome in Club West. Tasteful decor, lg open kit, huge mstr bedrm w/ 2 closets, w/thru bath w/ whirlpool tub. Upper lvl fam rm. Club house w/ exersize rm, pool, tennis crts. Picnic areas & miles of walking trails. Carefree lifestyle.

Key facts

• Insulated garage
• Fully sheet rocked
• Luxury vinyl plank

Tags

• LUXURY VINYL PLANK
• STAINLESS STEEL APPLIANCES
• FULLY SHEET ROCKED
• INSULATED GARAGE
• NEIGHBORHOOD AMENITIES
• SCENIC WALKING TRAILS

Property features AI

Finance

• HOA & community: HOA managed by Associa MN; Monthly association fee of $453; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, recreation facility, sewer, shared amenities, snow removal and water

Exterior

• Parking: Attached insulated 2-car garage (approx. 17 x 21)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Attached residential property; Two levels
• Construction: Asphalt roof; Other construction materials; Foundation described as other
• Exterior features: Vinyl exterior; Patio

Interior

• Kitchen: Kitchen with range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Two bedrooms (both on the upper level)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open dining area; Family room; Living room
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-324 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (11.5% below list).
• Recommended offer: $213k (21.2% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 3.9% in Blaine — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.4%/yr); 245 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; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $166k; list at $270k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $212,688 (21.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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: 0.88% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.15%
• DSCR: 0.77
• GRM: 9.4

CMA / ARV

• ARV (median comp): $298,244
• List price: $269,999
• Delta: -9.47%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.20×
• Total profit: $-60,705
• Equity at exit: $40,258

10-year hold

• IRR: -13.5%
• Equity multiple: 0.16×
• Total profit: $-63,838
• Equity at exit: $23,345

Cash invested: $75,600 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,389 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$230 /mo · $2,761/yr
• Insurance: −$112
• HOA: −$453
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-324

Break-even live

Break-even rent $2,799

Max offer price $212,688

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1792	$2,500	$1.40	2d	1	0.35mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1800	$2,500	$1.39	12d	1	0.35mi
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	853	$2,070	$2.43	2d	7	0.65mi
12373 Oak Park Blvd NE Blaine, MN	1.0–3.0	1.0–2.0	1023	$1,776	$1.74	2d	1	1.40mi

HOA detail

• Monthly dues: $453 · $5,436/yr
• Likely covers: pool

Listing history 22 events

1. 2026-06-17
   days on marketlisting id $269,999 Active 1 DOM
2. 2026-06-16
   days on market $269,999 Active 40 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-15
   days on market $269,999 Active 39 DOM
5. 2026-06-13
   days on market $269,999 Active 37 DOM
6. 2026-06-13
   days on market $269,999 Active 36 DOM
7. 2026-06-09
   days on market $269,999 Active 33 DOM
8. 2026-06-08
   days on market $269,999 Active 32 DOM
9. 2026-06-07
   days on market $269,999 Active 31 DOM
10. 2026-06-04
    days on market $269,999 Active 28 DOM
11. 2026-06-03
    days on market $269,999 Active 27 DOM
12. 2026-06-02
    days on market $269,999 Active 26 DOM
13. 2026-06-01
    days on market $269,999 Active 25 DOM
14. 2026-05-31
    days on market $269,999 Active 24 DOM
15. 2026-05-08
    listed $269,999 Active 986-char remark
16. 2026-05-05
    historical $269,999 986-char remark
17. 2016-07-08
    soldstatus $166,000
18. 2006-04-19
    soldstatus $185,000
19. 2004-12-08
    soldstatus $184,000 253-char remark

    Show marketing remark (253 chars)

    An exquisite townhome in Club West. Tasteful decor, lg open kit, huge mstr bedrm w/ 2 closets, w/thru bath w/ whirlpool tub. Upper lvl fam rm. Club house w/ exersize rm, pool, tennis crts. Picnic areas & miles of walking trails. Carefree lifestyle.

20. 2004-12-06
    soldstatus $184,000
21. 2004-11-12
    historical 253-char remark

    Show marketing remark (253 chars)

    An exquisite townhome in Club West. Tasteful decor, lg open kit, huge mstr bedrm w/ 2 closets, w/thru bath w/ whirlpool tub. Upper lvl fam rm. Club house w/ exersize rm, pool, tennis crts. Picnic areas & miles of walking trails. Carefree lifestyle.

22. 2004-07-01
    listed $184,900 253-char remark

    Show marketing remark (253 chars)

    An exquisite townhome in Club West. Tasteful decor, lg open kit, huge mstr bedrm w/ 2 closets, w/thru bath w/ whirlpool tub. Upper lvl fam rm. Club house w/ exersize rm, pool, tennis crts. Picnic areas & miles of walking trails. Carefree lifestyle.

ⓘ 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: $2,761 · $230/mo
• Projected year-2 tax: $2,893 · $241/mo
• Expected delta: +$131/yr (+$11/mo · 4.8%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,665
• − Mortgage interest: −$15,124
• − Property taxes: −$2,761
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,293
• − Management: −$2,293
• − HOA: −$5,436
• − Depreciation: −$7,855
• Taxable loss: −$8,448
• Est. tax savings @ 24.0%: +$2,027
• After-tax cash flow: $-1,866/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

Amenities F Commute F Cost of living C Crime A Employment A+ Housing A+ Health & safety C User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+46.0% since first listed

10 events — show timeline

• 2026-06-17 Listed $269,999 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $269,999 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-08 Sold (Public Records) $166,000 Public Records
• 2006-04-19 Sold (Public Records) $185,000 Public Records
• 2004-12-08 Sold (MLS) $184,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-06 Sold (Public Records) $184,000 Public Records
• 2004-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-01 Listed $184,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2026): $2,761 · +4.7% YoY. Source: county tax records.