6401 Shingle Creek Dr · Brooklyn Park, MN 55445

$339,900

2 bd · 2.0 ba · 996 sqft · SingleFamily public records · 37 Days on market

Built 1971 0.40 ac lot $341/sqft · 95% above area Est $411k · 17% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful house with 4 good-sized bedrooms, with vaulted living room ceiling, a 3 season porch. Enjoy the view of the flowing creek, walk-in step bath. Large kitchen with access to the deck. Home warranty included.

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1971

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (63.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (59.5% below list).
• Recommended offer: $124k (63.4% below list) — sets the bar for cash-flow.
• Cap rate 2.0% vs local median 3.3% in Brooklyn Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 81/100 on livability (#50 in MN, #1,308 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime C-, schools D, amenities F.
• Osseo Public School District (suburban): math 42% / reading 51% proficiency, ranked #129 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 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 $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 37 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $124,369 (63.4% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 63% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.40% ✗
• Cap rate: 1.99%
• Cash-on-cash: -15.38%
• DSCR: 0.32
• GRM: 20.6

CMA / ARV

• ARV (median comp): $411,479
• List price: $339,900
• Delta: -17.40%
• Verdict: UNDERPRICED
• Comps: 13 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -46.0%
• Equity multiple: -0.40×
• Total profit: $-132,791
• Equity at exit: $50,680

10-year hold

• IRR: -85.6%
• Equity multiple: -1.27×
• Total profit: $-215,714
• 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 55445

• Active inventory: 53
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$1,782
• Tax from tax record: −$382 /mo · $4,588/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-1,220

Break-even live

Break-even rent $2,920

Max offer price $124,369

Occupancy floor —

Sensitivity live

Price	-10% $-1,028	-5% $-1,124	+0% $-1,220	+5% $-1,316	+10% $-1,412
Rent	-10% $-1,329	-5% $-1,274	+0% $-1,220	+5% $-1,166	+10% $-1,111
Rate	-1.0pp $-1,049	-0.5pp $-1,134	base $-1,220	+0.5pp $-1,308	+1.0pp $-1,398

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6200 78th Ave N Minneapolis, MN	1.0	1.0	750	$1,092	$1.46	2d	3	0.28mi
7870 Zane Ave N Minneapolis, MN	1.0–2.0	1.0	760	$1,375	$1.81	2d	12	0.37mi
8104 Zane Ave N Minneapolis, MN	1.0–2.0	1.0	900	$1,395	$1.55	18d	3	0.40mi
8217 Zane Ct N Unit 8221 Minneapolis, MN	2.0	1.0	1000	$1,575	$1.57	3d	1	0.49mi
5521 Brookdale Dr N Brooklyn Park, MN	1.0–2.0	1.0	855	$1,525	$1.78	2d	10	0.54mi
8300 Zane Ave N Minneapolis, MN	1.0–2.0	1.0–1.5	868	$1,195	$1.38	5d	5	0.58mi
7531 Jersey Ave N Minneapolis, MN	1.0–2.0	1.0	880	$1,415	$1.61	2d	10	0.58mi
8304 Zane Ave N Unit North-312 Minneapolis, MN	2.0	1.5	1000	$1,195	$1.20	5d	1	0.62mi
8308 Zane Ave N Unit North-106 Brooklyn Park, MN	2.0	1.5	1000	$1,195	$1.20	5d	1	0.63mi
8425 Brunswick Ave N Minneapolis, MN	2.0	1.0	1032	$1,850	$1.79	44d	1	0.64mi
5840 73rd Ave N Minneapolis, MN	1.0–2.0	1.0	1031	$1,650	$1.60	15d	1	0.86mi
8447 Regent Ave N Minneapolis, MN	1.0–2.0	1.0–2.0	1000	$1,555	$1.55	2d	5	0.87mi
7449 Imperial Dr N Minneapolis, MN	3.0	1.0	775	$1,376	$1.78	44d	1	0.93mi
7449 Imperial Dr N Minneapolis, MN	1.0	1.0	700	$1,159	$1.66	10d	3	0.94mi
5805 73rd Ave N Brooklyn Park, MN	1.0	1.0	685	$1,233	$1.80	5d	2	0.96mi
7242 72nd Ln N Minneapolis, MN	2.0	1.0	900	$1,400	$1.56	13d	1	1.02mi
7282 72nd Ln N #343 Minneapolis, MN	1.0	1.0	608	$1,255	$2.06	5d	1	1.04mi
7254 72nd Ln N #354 Minneapolis, MN	1.0	1.0	702	$1,250	$1.78	24d	1	1.04mi
7468 72nd Ln N #301 Minneapolis, MN	1.0	1.0	608	$1,350	$2.22	5d	1	1.10mi
5625 69th Ave N Minneapolis, MN	1.0–2.0	1.0	750	$1,435	$1.91	24d	11	1.44mi

Listing history 17 events

1. 2026-06-13
   statusdays on market $339,900 Pending 37 DOM
2. 2026-06-09
   days on market $339,900 Contingent - Inspection 36 DOM
3. 2026-06-08
   days on market $339,900 Contingent - Inspection 35 DOM
4. 2026-06-07
   statusdays on market $339,900 Contingent - Inspection 34 DOM
5. 2026-06-04
   remarks 693-char remark
6. 2026-06-04
   days on market $339,900 Active 31 DOM
7. 2026-06-03
   days on market $339,900 Active 30 DOM
8. 2026-06-02
   days on market $339,900 Active 29 DOM
9. 2026-06-01
   days on market $339,900 Active 28 DOM
10. 2026-05-31
    days on market $339,900 Active 27 DOM
11. 2026-05-07
    status Active 214-char remark

    Show marketing remark (214 chars)

    Beautiful house with 4 good-sized bedrooms, with vaulted living room ceiling, a 3 season porch. Enjoy the view of the flowing creek, walk-in step bath. Large kitchen with access to the deck. Home warranty included.

12. 2026-04-06
    listed $349,990 Active 214-char remark

    Show marketing remark (214 chars)

    Beautiful house with 4 good-sized bedrooms, with vaulted living room ceiling, a 3 season porch. Enjoy the view of the flowing creek, walk-in step bath. Large kitchen with access to the deck. Home warranty included.

13. 2023-10-10
    soldstatus $332,000
14. 2023-10-03
    soldstatus $332,000 Sold 623-char remark

    Show marketing remark (623 chars)

    Super Sunny light and bright 3+ Bdrm on Shingle Creek ! Vaulted living room,eat in kitchen is spacious and leads out to Better Homes & Gardens yard,Gardens and a flowing Creek ! Features include : light neutral carpet, large chefs kitchen, nice sized bedrooms, custom Bathrooms w/ Skylight, lvg rm leads to 3 Season Sunny Porch and 2 Large south facing sun decks. L.l. Family or rec room, 3rd well appointed Bdrm w, pine decor,walk in step tub, 4Bdrm down was craft room easily back to bedroom ! Great utility room w/ Washer/ dryer ,2 Car attached garage . Family estate w/ quick poss avail .. best home avail today ..!

15. 2023-09-05
    status Pending 623-char remark

    Show marketing remark (623 chars)

    Super Sunny light and bright 3+ Bdrm on Shingle Creek ! Vaulted living room,eat in kitchen is spacious and leads out to Better Homes & Gardens yard,Gardens and a flowing Creek ! Features include : light neutral carpet, large chefs kitchen, nice sized bedrooms, custom Bathrooms w/ Skylight, lvg rm leads to 3 Season Sunny Porch and 2 Large south facing sun decks. L.l. Family or rec room, 3rd well appointed Bdrm w, pine decor,walk in step tub, 4Bdrm down was craft room easily back to bedroom ! Great utility room w/ Washer/ dryer ,2 Car attached garage . Family estate w/ quick poss avail .. best home avail today ..!

16. 2023-08-17
    listed $324,900 Active 623-char remark

    Show marketing remark (623 chars)

    Super Sunny light and bright 3+ Bdrm on Shingle Creek ! Vaulted living room,eat in kitchen is spacious and leads out to Better Homes & Gardens yard,Gardens and a flowing Creek ! Features include : light neutral carpet, large chefs kitchen, nice sized bedrooms, custom Bathrooms w/ Skylight, lvg rm leads to 3 Season Sunny Porch and 2 Large south facing sun decks. L.l. Family or rec room, 3rd well appointed Bdrm w, pine decor,walk in step tub, 4Bdrm down was craft room easily back to bedroom ! Great utility room w/ Washer/ dryer ,2 Car attached garage . Family estate w/ quick poss avail .. best home avail today ..!

17. 1985-01-01
    soldstatus $87,500

ⓘ 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: $4,588 · $382/mo
• Projected year-2 tax: $4,588 · $382/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,501
• − Mortgage interest: −$19,040
• − Property taxes: −$4,588
• − Insurance: −$1,700
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$9,888
• Taxable loss: −$21,354
• Est. tax savings @ 24.0%: +$5,125
• After-tax cash flow: $-9,516/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: Osseo Public School District
• NCES district ID: 2725200
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $76,168
• Composite: 42.35/100
• National rank: #3250
• State rank: #129 of 301 in MN

Livability — Brooklyn Park

• Score: 81/100
• State rank: #50
• US rank: #1308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brooklyn Park, MN
• City population: 33,660
• Population (ZIP): 13,538

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: White 42% Asian 22% Black 20% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Romanian 3% Iranian 1%
• Foreign-born: 25% · Vietnam, Canada, Dominican Republic
• Languages at home: 68% English-only · Other Asian/Pacific 13% Spanish 5% Vietnamese 5%

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: ▼ -159.58%
• Current HPI: 219.6305
• 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

+300.0% since first listed

7 events — show timeline

• 2026-05-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Listed $349,990 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-10 Sold (Public Records) $332,000 Public Records
• 2023-10-03 Sold (MLS) $332,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-17 Listed $324,900 NORTHSTARMLS as Distributed by MLS Grid
• 1985-01-01 Sold (Public Records) $87,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $4,588 · +11.3% YoY. Source: county tax records.