35 Nathan Ln N #114 · Plymouth, MN 55441

$109,900

1 bd · 1.0 ba · 784 sqft · Condo public records · 192 Days on market

Built 1982 $140/sqft · 28% below area Est $152k · 28% under $474/mo HOA · 30% 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 +15.3/30.0
• ARV discount +15.0/15.0
• 1% rule +9.4/10.0
• DSCR +4.7/10.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the highly coveted Willow Grove Community. This 1 bedroom, 1 bath home features an in unit washer and dryer, fantastic storage and outstanding living space. The dining room is large enough for a roomy table perfect for a sit down meal with your favorite people. The living room is open and bright and it's just waiting for your oversized comfy couch. The full bathroom has been updated and the tucked away bedroom overlooks the green space at the back of the building. You'll be living the good life with all the amenities available to residents at WIllow Grove. Start your day in the on-sight fully equipped gym, then melt away the cares of the day in the sauna. Make hosting any gathering a breeze in the spacious community room conveniently located at the entrance of the building. When summer heats up, walk from your screen porch to the in-ground pool and cool down while you get your vitamin D. Walk across the street to food, drinks and entertainment. Welcome Home! Garage 45 and storage locker G34.

Key facts

• In-ground pool
• Sauna
• Updated bathroom

Tags

• IN UNIT WASHER AND DRYER
• UPDATED BATHROOM
• ON-SIGHT FULLY EQUIPPED GYM
• SAUNA
• IN-GROUND POOL
• SCREEN PORCH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $40 ($483/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.1% in Plymouth — 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 85/100 on livability (#17 in MN, #517 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Hopkins Public School District (suburban): math 48% / reading 57% proficiency, ranked #75 of 301 in MN (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: L.H. Tanglen Elementary (math 42% / reading 56%, grade D, #475 of 857 statewide, top 56%, 559 students, 50% FRL); Hopkins North Junior High (math 42% / reading 61%, grade C, #65 of 258 statewide, top 26%, 888 students, 40% FRL); Hopkins Senior High (math 52% / reading 63%, grade C, #59 of 471 statewide, top 13%, 1,491 students, 40% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 93 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $760 of loan paydown is wiped out by about $3k 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 192 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $110k implies a 629% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• GRM: 5.8

CMA / ARV

• ARV (median comp): $152,131
• List price: $109,900
• Delta: -27.76%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.16% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.68×
• Total profit: $-9,759
• Equity at exit: $16,386

10-year hold

• IRR: 6.7%
• Equity multiple: 1.61×
• Total profit: $18,727
• Equity at exit: $9,502

Cash invested: $30,772 (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 55441

• Rents YoY: 6.2%
• Active inventory: 93
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,581 high
• Mortgage (P&I): −$576
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$46
• HOA: −$474
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $40

Break-even live

Break-even rent $1,530

Max offer price $109,900

Occupancy floor 92%

Sensitivity live

Price	-10% $102	-5% $71	+0% $40	+5% $9	+10% $-22
Rent	-10% $-85	-5% $-22	+0% $40	+5% $103	+10% $165
Rate	-1.0pp $96	-0.5pp $68	base $40	+0.5pp $12	+1.0pp $-17

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Shelard Pkwy Minneapolis, MN	3.0	1.0–2.0	987	$1,936	$1.96	0d	16	0.09mi
135 Nathan Ln N Minneapolis, MN	2.0	1.0–2.0	750	$1,555	$2.07	0d	18	0.14mi
275 Shelard Pkwy St Louis Park, MN	1.0–2.0	1.0–2.0	900	$1,375	$1.53	1d	12	0.14mi
10101 Highway 55 Minneapolis, MN	1.0–2.0	1.0	805	$1,275	$1.58	1d	6	0.27mi
200 Nathan Ln N Plymouth, MN	1.0–2.0	1.0–2.0	926	$1,627	$1.76	0d	5	0.27mi
400 Ford Rd Minneapolis, MN	1.0–3.0	1.0–2.0	1025	$1,395	$1.36	3d	9	0.30mi
9920 Wayzata Blvd Minneapolis, MN	2.0	1.0–2.5	942	$2,451	$2.60	0d	29	0.42mi
10010 6th Ave N Minneapolis, MN	1.0–3.0	1.0–2.0	1100	$1,716	$1.56	0d	21	0.46mi
9201 Golden Valley Rd Minneapolis, MN	1.0–2.0	1.0–2.0	926	$1,600	$1.73	0d	18	0.71mi
9140 Golden Valley Rd Minneapolis, MN	1.0–2.0	1.0	662	$1,165	$1.76	1d	6	0.79mi
11700 Wayzata Blvd Hopkins, MN	1.0–2.0	1.0–2.0	1079	$1,645	$1.52	0d	15	1.00mi
1020 W Medicine Lake Dr Minneapolis, MN	1.0–2.0	1.0–2.0	1103	$1,899	$1.72	1d	4	1.02mi
11816 Wayzata Blvd Hopkins, MN	1.0–2.0	1.0–2.0	940	$1,595	$1.70	0d	14	1.11mi
1305 Flag Ave N Unit Labs Golden Valley, MN	1.0	1.0	850	$1,500	$1.76	12d	1	1.18mi
1305 Flag Ave N Unit 2 Golden Valley, MN	1.0	1.0	800	$1,650	$2.06	19d	1	1.18mi
8350 Golden Valley Rd Golden Valley, MN	1.0–2.0	1.0–2.0	995	$1,760	$1.77	1d	10	1.21mi
1300 W Medicine Lake Dr Minneapolis, MN	1.0–2.0	1.0–2.0	1016	$1,530	$1.51	0d	6	1.30mi
640 Wisconsin Ave N Golden Valley, MN	1.0–3.0	1.0–2.0	1118	$1,820	$1.63	0d	93	1.31mi
12300 Marion Ln W Minnetonka, MN	1.0–3.0	1.0–2.0	1083	$1,313	$1.21	0d	21	1.40mi
1919 Ymca Ln Hopkins, MN	1.0–2.0	1.0–2.0	1023	$1,545	$1.51	0d	5	1.49mi

HOA detail condo

• Monthly dues: $474 · $5,688/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $109,900 Active 192 DOM
2. 2026-06-18
   days on market $109,900 Active 189 DOM
3. 2026-06-17
   days on market $109,900 Active 188 DOM
4. 2026-06-16
   days on market $109,900 Active 187 DOM
5. 2026-06-15
   days on market $109,900 Active 186 DOM
6. 2026-06-13
   days on market $109,900 Active 184 DOM
7. 2026-06-13
   days on market $109,900 Active 183 DOM
8. 2026-06-09
   days on market $109,900 Active 180 DOM
9. 2026-06-08
   days on market $109,900 Active 179 DOM
10. 2026-06-07
    days on market $109,900 Active 178 DOM
11. 2026-06-04
    days on market $109,900 Active 175 DOM
12. 2026-06-03
    days on market $109,900 Active 174 DOM
13. 2026-06-02
    days on market $109,900 Active 173 DOM
14. 2026-06-01
    days on market $109,900 Active 172 DOM
15. 2026-05-31
    days on market $109,900 Active 171 DOM
16. 2026-04-02
    price $119,900 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to the highly coveted Willow Grove Community. This 1 bedroom, 1 bath home features an in unit washer and dryer, fantastic storage and outstanding living space. The dining room is large enough for a roomy table perfect for a sit down meal with your favorite people. The living room is open and bright and it's just waiting for your oversized comfy couch. The full bathroom has been updated and the tucked away bedroom overlooks the green space at the back of the building. You'll be living the good life with all the amenities available to residents at WIllow Grove. Start your day in the on-sight fully equipped gym, then melt away the cares of the day in the sauna. Make hosting any gathering a breeze in the spacious community room conveniently located at the entrance of the building. When summer heats up, walk from your screen porch to the in-ground pool and cool down while you get your vitamin D. Walk across the street to food, drinks and entertainment. Welcome Home! Garage 45 and storage locker G34.

17. 2026-01-18
    price $129,900 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to the highly coveted Willow Grove Community. This 1 bedroom, 1 bath home features an in unit washer and dryer, fantastic storage and outstanding living space. The dining room is large enough for a roomy table perfect for a sit down meal with your favorite people. The living room is open and bright and it's just waiting for your oversized comfy couch. The full bathroom has been updated and the tucked away bedroom overlooks the green space at the back of the building. You'll be living the good life with all the amenities available to residents at WIllow Grove. Start your day in the on-sight fully equipped gym, then melt away the cares of the day in the sauna. Make hosting any gathering a breeze in the spacious community room conveniently located at the entrance of the building. When summer heats up, walk from your screen porch to the in-ground pool and cool down while you get your vitamin D. Walk across the street to food, drinks and entertainment. Welcome Home! Garage 45 and storage locker G34.

18. 2025-12-11
    listed $139,900 Active 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to the highly coveted Willow Grove Community. This 1 bedroom, 1 bath home features an in unit washer and dryer, fantastic storage and outstanding living space. The dining room is large enough for a roomy table perfect for a sit down meal with your favorite people. The living room is open and bright and it's just waiting for your oversized comfy couch. The full bathroom has been updated and the tucked away bedroom overlooks the green space at the back of the building. You'll be living the good life with all the amenities available to residents at WIllow Grove. Start your day in the on-sight fully equipped gym, then melt away the cares of the day in the sauna. Make hosting any gathering a breeze in the spacious community room conveniently located at the entrance of the building. When summer heats up, walk from your screen porch to the in-ground pool and cool down while you get your vitamin D. Walk across the street to food, drinks and entertainment. Welcome Home! Garage 45 and storage locker G34.

19. 2019-05-14
    soldstatus $15,085

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,348 · $112/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 ≥98°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: $18,968
• − Mortgage interest: −$6,156
• − Property taxes: −$1,348
• − Insurance: −$550
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − HOA: −$5,688
• − Depreciation: −$3,197
• Taxable loss: −$1,006
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $725/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: Hopkins Public School District
• NCES district ID: 2714260
• Math proficiency: 48% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $66,915
• Composite: 46.44/100
• National rank: #2448
• State rank: #75 of 301 in MN

Livability — Plymouth

• Score: 85/100
• State rank: #17
• US rank: #517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plymouth, MN
• County: Hennepin County · 1,150,272 people
• City population: 79,816
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 17,944
• Household income: $101,981
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 542.0

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 (71%)
• Race & ethnicity: White 71% Black 10% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Lithuanian 3% Romanian 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -303.44%
• Current HPI: 231.6438
• Rent YoY: ▲ 6.16%
• 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

+694.8% since first listed

4 events — show timeline

• 2026-04-02 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-18 Price Changed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-11 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-14 Sold (Public Records) $15,085 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,348 · -6.6% YoY. Source: county tax records.