5101 56th Ave N · Crystal, MN 55429

$649,000

8 bd · 4.0 ba · 3,472 sqft · MultiFamily · 108 Days on market

Built 1960 Good condition 0.30 ac lot $187/sqft · 171% above area

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Terrific opportunity to own a 4-plex in an area where they rarely hit the market. This solid, turn-key building offers 4 identical units – each of which is 2 bedrooms, 1 bath, and 742 SF. This gem is located on a 13K SF lot – [yes….a lot that is over 13,000 SF] – and literally just steps to Twin Oaks Park. Recent updates include 4 brand new furnaces, 4 brand new hot water heaters, a new roof in 2023 and numerous appliances in various units. All units have their own furnace and central A/C unit [no window A/C units here] Add’l revenue streams include coin operated laundry and 2 garage stalls. There is ample off street parking in addn to the garages. Located on a bus line – this property is located 4/10 of a mile from Twin Lakes, and 8/10 of a mile from the MAC Wildlife Area. One unit is intentionally vacant for a potential owner occupant. Easy access to Highways 100, 694, and 94.

Key facts

• 13k sf lot
• New roof
• 0.3 acre lot

Tags

• 13K SF LOT
• NEW ROOF
• COIN OPERATED LAUNDRY
• AMPLE OFF STREET PARKING
• LOCATED ON A BUS LINE
• 4/10 OF A MILE FROM TWIN LAKES

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $649k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive. Per door: $158/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $648k (0.2% below list).
• Recommended offer: $591k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.9% in Crystal — 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 83/100 on livability (#33 in MN, #1,041 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: schools D+.
• Robbinsdale Public School District (suburban): math 24% / reading 44% proficiency, ranked #250 of 301 in MN (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $19k 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 108 days — a 9% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $590,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $239,083
• List price: $649,000
• Delta: 171.45%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-64,732
• Equity at exit: $96,768

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-4,031
• Equity at exit: $56,114

Cash invested: $181,720 (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 55429

• Active inventory: 87
• Price-to-rent: 33.4×

Monthly cashflow live

• Estimated rent: $6,479 high
• Mortgage (P&I): −$3,403
• Tax est. 1.5%: −$811 /mo · $9,735/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,361
• Net cashflow: $633

Break-even live

Break-even rent $5,677

Max offer price $649,000

Occupancy floor 85%

Sensitivity live

Price	-10% $1,082	-5% $858	+0% $633	+5% $409	+10% $185
Rent	-10% $121	-5% $377	+0% $633	+5% $889	+10% $1,145
Rate	-1.0pp $960	-0.5pp $798	base $633	+0.5pp $465	+1.0pp $294

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,480
Total (4 units)			$6,479

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   status $649,000 Pending 108 DOM
2. 2026-06-18
   days on market $649,000 Active 108 DOM
3. 2026-06-17
   days on market $649,000 Active 107 DOM
4. 2026-06-16
   days on market $649,000 Active 106 DOM
5. 2026-06-15
   days on market $649,000 Active 105 DOM
6. 2026-06-13
   days on market $649,000 Active 103 DOM
7. 2026-06-13
   days on market $649,000 Active 102 DOM
8. 2026-06-09
   days on market $649,000 Active 99 DOM
9. 2026-06-08
   days on market $649,000 Active 98 DOM
10. 2026-06-07
    days on market $649,000 Active 97 DOM
11. 2026-06-04
    days on market $649,000 Active 94 DOM
12. 2026-06-03
    days on market $649,000 Active 93 DOM
13. 2026-06-02
    days on market $649,000 Active 92 DOM
14. 2026-06-01
    days on market $649,000 Active 91 DOM
15. 2026-05-31
    days on market $649,000 Active 90 DOM
16. 2026-05-08
    price $649,000 929-char remark

    Show marketing remark (929 chars)

    Terrific opportunity to own a 4-plex in an area where they rarely hit the market. This solid, turn-key building offers 4 identical units – each of which is 2 bedrooms, 1 bath, and 742 SF. This gem is located on a 13K SF lot – [yes….a lot that is over 13,000 SF] – and literally just steps to Twin Oaks Park. Recent updates include 4 brand new furnaces, 4 brand new hot water heaters, a new roof in 2023 and numerous appliances in various units. All units have their own furnace and central A/C unit [no window A/C units here] Add’l revenue streams include coin operated laundry and 2 garage stalls. There is ample off street parking in addn to the garages. Located on a bus line – this property is located 4/10 of a mile from Twin Lakes, and 8/10 of a mile from the MAC Wildlife Area. One unit is intentionally vacant for a potential owner occupant. Easy access to Highways 100, 694, and 94.

17. 2026-03-02
    listed $665,000 Active 929-char remark

    Show marketing remark (929 chars)

    Terrific opportunity to own a 4-plex in an area where they rarely hit the market. This solid, turn-key building offers 4 identical units – each of which is 2 bedrooms, 1 bath, and 742 SF. This gem is located on a 13K SF lot – [yes….a lot that is over 13,000 SF] – and literally just steps to Twin Oaks Park. Recent updates include 4 brand new furnaces, 4 brand new hot water heaters, a new roof in 2023 and numerous appliances in various units. All units have their own furnace and central A/C unit [no window A/C units here] Add’l revenue streams include coin operated laundry and 2 garage stalls. There is ample off street parking in addn to the garages. Located on a bus line – this property is located 4/10 of a mile from Twin Lakes, and 8/10 of a mile from the MAC Wildlife Area. One unit is intentionally vacant for a potential owner occupant. Easy access to Highways 100, 694, and 94.

18. 2025-11-08
    status Active
19. 2025-11-02
    historical Contingent - Inspection
20. 2025-10-15
    status Active
21. 2025-10-14
    historical Contingent - Other
22. 2025-10-10
    price $635,000
23. 2025-09-26
    listed $649,000 Active
24. 2025-09-23
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 13 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: $77,748
• − Mortgage interest: −$36,354
• − Property taxes: −$9,735
• − Insurance: −$3,245
• − Repairs & maintenance: −$6,220
• − Management: −$6,220
• − Depreciation: −$18,880
• Taxable loss: −$2,906
• Est. tax savings @ 24.0%: +$697
• After-tax cash flow: $8,297/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 4-unit multi-family property is in good condition with recent updates and a solid structure. It offers a great opportunity for investors looking to capitalize on the location and potential for rental growth.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both update flooring — modernizes the space and improves rental appeal
• Both update kitchen appliances — modernizes the space and improves rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update flooring — modernizes the space and improves rental appeal ↑
• Both update kitchen appliances — modernizes the space and improves rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Robbinsdale Public School District
• NCES district ID: 2731780
• Math proficiency: 24% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $60,234
• Composite: 30.42/100
• National rank: #6240
• State rank: #250 of 301 in MN

Livability — Crystal

• Score: 83/100
• State rank: #33
• US rank: #1041

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crystal, MN
• City population: 24,764
• Population (ZIP): 27,570

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 34% White 34% Asian 15% Hispanic / Latino 11% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Swiss 9% Portuguese 5% Romanian 2%
• Foreign-born: 24% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 10% Other Asian/Pacific 9% French/Haitian/Cajun 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: ▼ -228.09%
• Current HPI: 266.119
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $649,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listed $665,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $635,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Listed $649,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid