2930 Blaisdell Ave #128 · Minneapolis, MN 55408

$75,900

1 bd · 1.0 ba · 880 sqft · Condo public records · 41 Days on market

Built 1980 $86/sqft · 66% below area $442/mo HOA · 34% of rent ↓ 8% since listing

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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 +19.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

First floor 1 bedroom 1 bath condo with outdoor access to green space - move in condition walking distance to Eat Street - shops, restaurants and public transportation. Off street parking, affordable housing at its best.

Key facts

• Refreshed bathroom
• Green courtyard
• On-site laundry

Tags

• UPDATED KITCHEN APPLIANCES
• REFRESHED BATHROOM
• ON-SITE LAUNDRY
• GREEN COURTYARD
• QUICK ACCESS TO NEIGHBORHOOD

Property features AI

Finance

• Other: Association amenities include elevator(s) and lobby entrance
• HOA & community: Part of Westport Property association; Monthly association fee (includes controlled access, gas, hazard insurance, heating, lawn care, grounds maintenance, parking, professional management, sewer, shared amenities, snow removal, water); Shared community rooms including community room and media room

Exterior

• Parking: Secured parking lot
• Security: 24-hour guard; Controlled access; Security lighting; Lobby entrance; Elevator access
• Utilities: City water connected; City sewer connected; Other fuel source
• Home design: Residential attached property; One level
• Construction: Foundation area approximately 880 (building area total 880)
• Exterior features: Stone exterior; Patio (12x6); Public transit within six blocks; Medium tree coverage

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Exhaust fan
• Bedrooms: One bedroom on the main level (15x12)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Baseboard heating (hot water); Wall unit cooling
• Interior features: Main floor primary bedroom; Main floor laundry; No basement; Accessible features including 36+ inch doors, 42+ inch hallways, and an installed elevator
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $76k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $74k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 (+4.8%/yr); 175 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k 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 41 days — a 3% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 34% of rent.

Recommended offer $73,623 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.70% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 4.9

CMA / ARV

• ARV (median comp): $225,581
• List price: $75,900
• Delta: -66.35%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-4,285
• Equity at exit: $11,317

10-year hold

• IRR: 7.8%
• Equity multiple: 1.67×
• Total profit: $14,277
• Equity at exit: $6,562

Cash invested: $21,252 (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 55408

• Rents YoY: 4.8%
• Active inventory: 175
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$398
• Tax from tax record: −$62 /mo · $750/yr
• Insurance: −$32
• HOA: −$442
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $85

Break-even live

Break-even rent $1,182

Max offer price $75,900

Occupancy floor 88%

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Pillsbury Ave Apt 5 Minneapolis, MN	1.0	1.0	550	$1,100	$2.00	17d	1	0.13mi
2800 Pillsbury Ave Unit 1 Minneapolis, MN	1.0	1.0	550	$1,049	$1.91	43d	1	0.13mi
2916 Grand Ave S Minneapolis, MN	2.0	1.0	814	$1,250	$1.54	3d	1	0.18mi
2740 Pleasant Ave Minneapolis, MN	1.0–2.0	1.0	645	$1,145	$1.78	2d	3	0.20mi
2800 Grand Ave S Minneapolis, MN	1.0–2.0	1.0	692	$975	$1.41	3d	4	0.20mi
3024 Pleasant Ave Unit 2 Minneapolis, MN	1.0	1.0	900	$1,250	$1.39	43d	1	0.21mi
2725 Pleasant Ave Unit 101 Minneapolis, MN	1.0	1.0	700	$1,100	$1.57	3d	1	0.21mi
3035 Pleasant Ave Minneapolis, MN	2.0	1.0	700	$1,448	$2.07	11d	2	0.22mi
410 W Lake St Minneapolis, MN	1.0–2.0	1.0	691	$1,205	$1.74	1d	6	0.23mi
3020 Grand Ave S Unit 2 Minneapolis, MN	1.0	1.0	560	$1,500	$2.68	17d	1	0.24mi
2813 Garfield Ave Apt 2815-1 Minneapolis, MN	2.0	1.0	650	$1,950	$3.00	7d	1	0.28mi
2636 Pillsbury Ave S Minneapolis, MN	3.0	1.0	560	$963	$1.72	2d	1	0.29mi
3127 Pleasant Ave Unit 104 Minneapolis, MN	1.0	1.0	700	$999	$1.43	43d	1	0.32mi
3127 Pleasant Ave Minneapolis, MN	1.0	1.0	700	$1,014	$1.45	7d	1	0.32mi
607 W 28th St Minneapolis, MN	2.0	1.0–2.0	621	$1,514	$2.44	2d	14	0.32mi
2833 Lyndale Ave S Minneapolis, MN	2.0	1.0–2.0	818	$1,782	$2.18	17d	6	0.33mi
2957 Lyndale Ave S Unit 614-2 Minneapolis, MN	1.0	1.0	546	$1,375	$2.52	24d	1	0.35mi
2957 Lyndale Ave S Unit 614-6 Minneapolis, MN	1.0	1.0	617	$1,225	$1.99	43d	1	0.35mi
2925 2nd Ave S Unit 3 Minneapolis, MN	1.0	1.0	720	$1,400	$1.94	43d	1	0.36mi
2925 2nd Ave S Unit -4 Minneapolis, MN	1.0	1.0	720	$1,300	$1.81	24d	1	0.36mi
2611 Pleasant Ave Minneapolis, MN	2.0	1.0	650	$1,190	$1.83	2d	37	0.36mi
2641 Garfield Ave Unit 101 Minneapolis, MN	2.0	1.0	750	$1,095	$1.46	43d	1	0.40mi
2641 Garfield Ave Unit 106 Minneapolis, MN	1.0	1.0	550	$965	$1.75	43d	1	0.40mi
201 E 27th St Apt 12 Minneapolis, MN	1.0	1.0	850	$1,200	$1.41	24d	1	0.42mi
2922 Aldrich Ave S Minneapolis, MN	1.0–2.0	1.0–2.5	949	$1,400	$1.48	1d	31	0.43mi
2530 Blaisdell Ave Minneapolis, MN	2.0	1.0	850	$1,140	$1.34	17d	1	0.44mi
3224 Nicollet Ave Unit 3 Minneapolis, MN	2.0	1.0	950	$1,995	$2.10	7d	1	0.45mi
3224 Nicollet Ave Unit 3 Minneapolis, MN	2.0	1.0	950	$1,995	$2.10	24d	1	0.45mi
2841 Bryant Ave S Minneapolis, MN	2.0	1.0–2.0	835	$1,900	$2.27	2d	23	0.46mi
2621 Lyndale Ave S Minneapolis, MN	—	1.0	550	$1,650	$3.00	43d	1	0.47mi
2625 2nd Ave S Unit 1 Minneapolis, MN	2.0	1.0	1000	$2,000	$2.00	24d	1	0.47mi
2530 1st Ave S Unit N201 Minneapolis, MN	1.0	1.0	550	$1,400	$2.55	43d	1	0.48mi
2508 Pillsbury Ave S Minneapolis, MN	1.0	1.0	535	$1,110	$2.07	16d	2	0.48mi
3200 Garfield Ave Apt B2 Minneapolis, MN	2.0	1.0	900	$1,395	$1.55	17d	1	0.49mi
3019 Bryant Ave S Minneapolis, MN	1.0	1.0	750	$1,250	$1.67	43d	1	0.49mi
2908 Bryant Ave S Minneapolis, MN	1.0	1.0	600	$1,319	$2.20	2d	11	0.49mi
2908 Bryant Ave S Minneapolis, MN	1.0	1.0	575	$1,309	$2.28	43d	1	0.49mi
2552 Garfield Ave Minneapolis, MN	1.0	1.0	463	$1,000	$2.16	16d	3	0.50mi
2611 2nd Ave S Minneapolis, MN	1.0	1.0	624	$1,435	$2.30	7d	4	0.50mi
2611 2nd Ave S Unit 304 Minneapolis, MN	1.0	1.0	584	$1,485	$2.54	24d	1	0.50mi

HOA detail condo

• Monthly dues: $442 · $5,304/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-04
   statusdays on market $75,900 Pending 41 DOM
2. 2026-06-03
   days on market $75,900 Contingent - Inspection 40 DOM
3. 2026-06-02
   days on market $75,900 Contingent - Inspection 39 DOM
4. 2026-06-02
   status $75,900 Contingent - Inspection 38 DOM
5. 2026-06-01
   days on market $75,900 Active 38 DOM
6. 2026-05-31
   days on market $75,900 Active 37 DOM
7. 2026-04-24
   listed $75,900 Active 861-char remark
8. 2026-02-27
   historical
9. 2025-12-08
   price $89,900
10. 2025-09-25
    listed $99,900 Active
11. 2025-09-23
    historical
12. 2019-08-22
    soldstatus $74,000
13. 2019-08-21
    soldstatus $74,000 Sold

    Show marketing remark (220 chars)

    First floor 1 bedroom 1 bath condo with outdoor access to green space - move in condition walking distance to Eat Street - shops, restaurants and public transportation. Off street parking, affordable housing at its best.

14. 2019-07-29
    historical Contingent - Inspection

    Show marketing remark (220 chars)

    First floor 1 bedroom 1 bath condo with outdoor access to green space - move in condition walking distance to Eat Street - shops, restaurants and public transportation. Off street parking, affordable housing at its best.

15. 2019-07-18
    price $79,900

    Show marketing remark (220 chars)

    First floor 1 bedroom 1 bath condo with outdoor access to green space - move in condition walking distance to Eat Street - shops, restaurants and public transportation. Off street parking, affordable housing at its best.

16. 2019-07-10
    listed $82,500 Active

    Show marketing remark (220 chars)

    First floor 1 bedroom 1 bath condo with outdoor access to green space - move in condition walking distance to Eat Street - shops, restaurants and public transportation. Off street parking, affordable housing at its best.

ⓘ 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: $750 · $62/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$50/yr (+$4/mo · 6.7%)

ⓘ 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: $15,478
• − Mortgage interest: −$4,252
• − Property taxes: −$750
• − Insurance: −$380
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − HOA: −$5,304
• − Depreciation: −$2,208
• Taxable income: $109
• Est. tax owed @ 24.0%: −$26
• After-tax cash flow: $992/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): 31,507
• Household income: $70,326
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 2619.0

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 0.60)
• Race & ethnicity: White 59% Black 17% Hispanic / Latino 11% Two or more races 9% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 8% Romanian 6% Lithuanian 3%
• Foreign-born: 15% · Canada, South Korea, Vietnam
• Languages at home: 79% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.08%
• Current HPI: 256.0491
• Rent YoY: ▲ 4.77%
• 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

-8.0% since first listed

12 events — show timeline

• 2026-06-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $75,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-08 Price Changed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-25 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-22 Sold (Public Records) $74,000 Public Records
• 2019-08-21 Sold (MLS) $74,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-18 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-10 Listed $82,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-1.9%/yr

Latest (2025): $750 · +6.3% YoY. Source: county tax records.