2507 Lyndale Ave S · Minneapolis, MN 55405

$599,000

20 bd · 16.0 ba · 3,308 sqft · MultiFamily public records · 86 Days on market

Built 1900 4,791 sqft lot $181/sqft · at area comps Est $571k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.3/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This Multi-Family 4-Plex on Lyndale Avenue offers an 899 sq ft finished attic with potential to convert into a 5th unit (requires kitchen addition). Note: converting to a 5th unit changes the property status from residential to commercial with the City of Minneapolis. Zoned CM2 ("Corridor Mixed Use District"), this property is ideal for exploring small business opportunities on the first level while maintaining residential units above. Buyers must verify all City regulations and requirements. A new rear staircase was completed in July. The largest unit, over 1,100 square feet, includes two bedrooms, an office, and is currently vacant—ideal for owner occupancy. It features hardwood floors, high ceilings, built-ins, and both front and rear entrances. A single-car garage provides added convenience. Exceptional property with endless potential — don't miss out!

Key facts

• Finished attic
• Zoned cm2
• High ceilings

Tags

• FINISHED ATTIC
• ZONED CM2
• SMALL BUSINESS OPPORTUNITIES
• NEW REAR STAIRCASE
• HARDWOOD FLOORS
• HIGH CEILINGS

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $998/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $599k).
• Recommended offer: $563k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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 (+1.9%/yr); 100 active listings in the ZIP; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• At $10,229/mo this rent would consume 168% of the median local household income ($73k/yr) (locally 985% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $168k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 4 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 $320k; list at $599k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $563,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — 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. 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?
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: 1.71% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.57%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $570,732
• List price: $599,000
• Delta: 4.95%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.93% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.87×
• Total profit: $146,498
• Equity at exit: $89,313

10-year hold

• IRR: 29.0%
• Equity multiple: 3.46×
• Total profit: $411,803
• Equity at exit: $51,791

Cash invested: $167,720 (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 55405

• Rents YoY: 1.9%
• Active inventory: 100
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $10,229 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$697 /mo · $8,362/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,148
• Net cashflow: $3,993

Break-even live

Break-even rent $5,174

Max offer price $599,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$10,228
Total (4 units)			$10,229

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $599,000 Active 86 DOM
2. 2026-06-17
   days on market $599,000 Active 85 DOM
3. 2026-06-16
   days on market $599,000 Active 84 DOM
4. 2026-06-15
   days on market $599,000 Active 83 DOM
5. 2026-06-13
   days on market $599,000 Active 81 DOM
6. 2026-06-09
   days on market $599,000 Active 77 DOM
7. 2026-06-08
   days on market $599,000 Active 76 DOM
8. 2026-06-07
   days on market $599,000 Active 75 DOM
9. 2026-06-04
   days on market $599,000 Active 72 DOM
10. 2026-06-03
    days on market $599,000 Active 71 DOM
11. 2026-06-02
    days on market $599,000 Active 70 DOM
12. 2026-06-01
    days on market $599,000 Active 69 DOM
13. 2026-05-31
    days on market $599,000 Active 68 DOM
14. 2026-04-29
    price $599,000 890-char remark

    Show marketing remark (890 chars)

    This Multi-Family 4-Plex on Lyndale Avenue offers an 899 sq ft finished attic with potential to convert into a 5th unit (requires kitchen addition). Note: converting to a 5th unit changes the property status from residential to commercial with the City of Minneapolis. Zoned CM2 ("Corridor Mixed Use District"), this property is ideal for exploring small business opportunities on the first level while maintaining residential units above. Buyers must verify all City regulations and requirements. A new rear staircase was completed in July. The largest unit, over 1,100 square feet, includes two bedrooms, an office, and is currently vacant—ideal for owner occupancy. It features hardwood floors, high ceilings, built-ins, and both front and rear entrances. A single-car garage provides added convenience. Exceptional property with endless potential — don't miss out!

15. 2026-03-24
    listed $619,000 Active 890-char remark

    Show marketing remark (890 chars)

    This Multi-Family 4-Plex on Lyndale Avenue offers an 899 sq ft finished attic with potential to convert into a 5th unit (requires kitchen addition). Note: converting to a 5th unit changes the property status from residential to commercial with the City of Minneapolis. Zoned CM2 ("Corridor Mixed Use District"), this property is ideal for exploring small business opportunities on the first level while maintaining residential units above. Buyers must verify all City regulations and requirements. A new rear staircase was completed in July. The largest unit, over 1,100 square feet, includes two bedrooms, an office, and is currently vacant—ideal for owner occupancy. It features hardwood floors, high ceilings, built-ins, and both front and rear entrances. A single-car garage provides added convenience. Exceptional property with endless potential — don't miss out!

16. 2025-10-31
    historical
17. 2025-08-01
    listed $649,000 Active
18. 2025-05-06
    price $679,000
19. 2025-04-03
    listed $699,000 Active
20. 2025-03-27
    historical
21. 2005-01-11
    soldstatus $319,900
22. 2004-11-29
    soldstatus $319,900
23. 2004-10-28
    historical
24. 2004-10-06
    listed $319,900

ⓘ 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: $8,362 · $697/mo
• Projected year-2 tax: $8,362 · $697/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: $122,748
• − Mortgage interest: −$33,553
• − Property taxes: −$8,362
• − Insurance: −$2,995
• − Repairs & maintenance: −$9,820
• − Management: −$9,820
• − Depreciation: −$17,425
• Taxable income: $40,773
• Est. tax owed @ 24.0%: −$9,786
• After-tax cash flow: $38,134/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): 17,198
• Household income: $73,053
• Rent vs Own: 63.7% rent · 36.3% own
• Severe rent burden: 985.0

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 0.58)
• Race & ethnicity: White 59% Black 25% Two or more races 7% Hispanic / Latino 5% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 9% Romanian 4% Lithuanian 2%
• Foreign-born: 10% · Canada, South Korea, Jamaica
• Languages at home: 81% English-only · Spanish 3% Other Asian/Pacific 2% 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: ▼ -282.04%
• Current HPI: 242.8961
• Rent YoY: ▲ 1.93%
• 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

+87.2% since first listed

11 events — show timeline

• 2026-04-29 Price Changed $599,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Listed $619,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-01 Listed $649,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-06 Price Changed $679,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-03 Listed $699,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-27 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-11 Sold (Public Records) $319,900 Public Records
• 2004-11-29 Sold (MLS) $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-06 Listed $319,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2025): $8,362 · +2.6% YoY. Source: county tax records.