3708 W Old Shakopee Rd · Bloomington, MN 55431

$339,900

4 bd · 2.0 ba · 3,202 sqft · SingleFamily public records · 29 Days on market

Built 1955 0.26 ac lot

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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).

• Cash flow +12.7/30.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Both bathrooms completely updated. Basement w/bedroom finished in the last 3 years. Beautifully maintained home. Wonderful location close to restaurants, grocery stores & shopping. Over-sized 2 car garage.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1955

Property features AI

Exterior

• Parking: Asphalt driveway; 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One story; Living area and main level layout with lower level family/bedroom space; Entry faces city street (corner lot)
• Construction: Block foundation; Asphalt roof; Built with stucco and wood
• Exterior features: Stucco and wood exterior; Patio; Chain link fencing; Corner lot with medium tree coverage; City street frontage; Lot dimensions approximately 92x130

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen window
• Bedrooms: 4 bedrooms (3 bedrooms on one level; main-floor bedroom); Bedroom sizes — Main: 15x10, 10x11, 12x09; Lower: 14x10
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms; Full basement bathroom; main floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Patio; Kitchen window
• Laundry & utility: Washer; Dryer; Utility room (Lower)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-39 ($-466/yr) — negative.
• To cash-flow at today's rent, offer at most $333k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (18.4% below list).
• Recommended offer: $278k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.5% in Bloomington — 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 76/100 on livability (#168 in MN, #3,640 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D-, amenities F, health & safety F.
• Bloomington Public School District (urban): math 35% / reading 49% proficiency, ranked #192 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 33% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 29 days — a 2% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $245k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $277,517 (18.4% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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. 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?
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 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: 0.82% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.66% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-52,870
• Equity at exit: $50,680

10-year hold

• IRR: -4.4%
• Equity multiple: 0.69×
• Total profit: $-29,345
• Equity at exit: $29,388

Cash invested: $95,172 (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 55431

• Rents YoY: 4.7%
• Active inventory: 71
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,775 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$307 /mo · $3,685/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-39

Break-even live

Break-even rent $2,824

Max offer price $333,041

Occupancy floor 96%

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4517 W 113th St Minneapolis, MN	4.0	2.0	2300	$2,695	$1.17	43d	1	0.92mi

Listing history 20 events

1. 2026-04-30
   status Pending
2. 2026-04-20
   historical Contingent - Inspection
3. 2026-04-14
   price $339,900
4. 2026-04-02
   listed $350,000 Active
5. 2026-03-30
   historical $350,000
6. 2021-02-18
   price $310,000
7. 2021-01-26
   price $315,000
8. 2021-01-16
   price $319,900
9. 2021-01-15
   status Active
10. 2021-01-12
    historical Contingent - Inspection
11. 2020-12-18
    listed $324,900 Active
12. 2018-07-20
    soldstatus $245,000
13. 2018-06-12
    soldstatus $245,000 Sold 209-char remark

    Show marketing remark (209 chars)

    Both bathrooms completely updated. Basement w/bedroom finished in the last 3 years. Beautifully maintained home. Wonderful location close to restaurants, grocery stores & shopping. Over-sized 2 car garage.

14. 2018-05-07
    status Pending 209-char remark

    Show marketing remark (209 chars)

    Both bathrooms completely updated. Basement w/bedroom finished in the last 3 years. Beautifully maintained home. Wonderful location close to restaurants, grocery stores & shopping. Over-sized 2 car garage.

15. 2018-04-30
    historical 209-char remark

    Show marketing remark (209 chars)

    Both bathrooms completely updated. Basement w/bedroom finished in the last 3 years. Beautifully maintained home. Wonderful location close to restaurants, grocery stores & shopping. Over-sized 2 car garage.

16. 2018-04-27
    listed $239,900 Active 209-char remark

    Show marketing remark (209 chars)

    Both bathrooms completely updated. Basement w/bedroom finished in the last 3 years. Beautifully maintained home. Wonderful location close to restaurants, grocery stores & shopping. Over-sized 2 car garage.

17. 2009-11-12
    soldstatus $155,000
18. 2009-11-05
    soldstatus $155,000
19. 2009-09-28
    historical
20. 2009-09-16
    listed $150,000

ⓘ 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: $3,685 · $307/mo
• Projected year-2 tax: $3,746 · $312/mo
• Expected delta: +$61/yr (+$5/mo · 1.6%)

ⓘ 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,302
• − Mortgage interest: −$19,040
• − Property taxes: −$3,685
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − Depreciation: −$9,888
• Taxable loss: −$6,339
• Est. tax savings @ 24.0%: +$1,521
• After-tax cash flow: $1,055/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: Bloomington Public School District
• NCES district ID: 2705790
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $63,279
• Composite: 37.37/100
• National rank: #4431
• State rank: #192 of 301 in MN

Livability — Bloomington

• Score: 76/100
• State rank: #168
• US rank: #3640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, MN
• County: Hennepin County · 1,150,272 people
• City population: 88,605
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 18,664
• Household income: $101,484
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 510.0

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 (75%)
• Race & ethnicity: White 75% Asian 7% Two or more races 6% Black 6% Hispanic / Latino 5%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 4% Vietnamese 2% Other Asian/Pacific 2%

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: ▼ -272.86%
• Current HPI: 234.9872
• Rent YoY: ▲ 4.66%
• 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

+126.6% since first listed

20 events — show timeline

• 2026-04-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $339,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Coming Soon $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-18 Price Changed $310,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-26 Price Changed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-16 Price Changed $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-18 Listed $324,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-20 Sold (Public Records) $245,000 Public Records
• 2018-06-12 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-27 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-12 Sold (Public Records) $155,000 Public Records
• 2009-11-05 Sold (MLS) $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-16 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $3,685 · +6.1% YoY. Source: county tax records.