2429 121st Cir NE Unit D · Blaine, MN 55449

$285,000

2 bd · 3.0 ba · 1,448 sqft · Condo public records · 30 Days on market

Built 2010 $197/sqft · 11% above area Est $305k · 7% under $310/mo HOA · 13% of rent

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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).

• ARV discount +10.5/15.0
• Cash flow +8.6/30.0
• Schools +4.0/10.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

Key facts

• $310 HOA
• 2 garage spots
• Built 2010

Property features AI

Finance

• HOA & community: HOA managed by First Service Residential; Monthly association fee of $310; HOA includes hazard insurance, lawn care, professional management, sewer, snow removal, and water

Exterior

• Parking: Attached garage (2 car); Asphalt driveway; Garage dimensions 17x20
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Attached residential property; Two levels
• Construction: Asphalt roof; Block foundation
• Exterior features: Vinyl exterior; Deck; In-ground sprinkler; Light tree coverage

Interior

• Kitchen: Kitchen with center island
• Bedrooms: 2 bedrooms (both on upper level)
• Bathrooms: Primary bath is 3/4; One full bathroom on upper level; Half bath on main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Bonus room (lower level); Loft (upper level); Kitchen/Dining combination; Ceiling fan(s)
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (13.5% below list).
• Recommended offer: $241k (15.3% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.9% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Spring Lake Park Public Schools (suburban): math 41% / reading 49% proficiency, ranked #162 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,083 units permitted in Anoka County in 2024 (134 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 $9k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $241,289 (15.3% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.86% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 9.6

CMA / ARV

• ARV (median comp): $305,001
• List price: $285,000
• Delta: -6.56%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.27×
• Total profit: $-58,196
• Equity at exit: $42,494

10-year hold

• IRR: -10.7%
• Equity multiple: 0.31×
• Total profit: $-55,173
• Equity at exit: $24,642

Cash invested: $79,800 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,464 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$271 /mo · $3,253/yr
• Insurance: −$119
• HOA: −$310
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $-247

Break-even live

Break-even rent $2,778

Max offer price $241,289

Occupancy floor —

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12210 Urbank St NE Unit B Blaine, MN	2.0	1.5	1632	$2,345	$1.44	1d	1	0.25mi
2444 120th Ln NE Blaine, MN	3.0	2.5	1858	$3,345	$1.80	1d	1	0.45mi
1558 126th Ave NE Unit 1545 Blaine, MN	3.0	1.0	970	$1,675	$1.73	3d	1	1.09mi
2445 120th Cir NE Blaine, MN	2.0–4.0	2.5–3.5	1894	$2,795	$1.48	1d	19	1.36mi
12861 Central Ave NE Blaine, MN	2.0	1.0	1067	$1,438	$1.35	1d	4	1.43mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-13
   statusdays on market $285,000 Pending 30 DOM
2. 2026-06-09
   days on market $285,000 Contingent - Subject to Statutory Rescission 27 DOM
3. 2026-06-08
   statusdays on market $285,000 Contingent - Subject to Statutory Rescission 26 DOM
4. 2026-06-07
   days on market $285,000 Contingent - Inspection 25 DOM
5. 2026-06-04
   days on market $285,000 Contingent - Inspection 22 DOM
6. 2026-06-03
   days on market $285,000 Contingent - Inspection 21 DOM
7. 2026-06-02
   days on market $285,000 Contingent - Inspection 20 DOM
8. 2026-06-02
   status $285,000 Contingent - Inspection 19 DOM
9. 2026-06-01
   days on market $285,000 Active 19 DOM
10. 2026-05-31
    days on market $285,000 Active 18 DOM
11. 2026-05-13
    listed $285,000 Active 707-char remark
12. 2026-05-09
    historical $285,000 707-char remark
13. 2023-09-25
    soldstatus $285,000
14. 2023-09-14
    soldstatus $285,000 Sold 569-char remark

    Show marketing remark (569 chars)

    This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

15. 2023-08-09
    status Pending 569-char remark

    Show marketing remark (569 chars)

    This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

16. 2023-07-30
    historical Contingent - Subject to Statutory Rescission 569-char remark

    Show marketing remark (569 chars)

    This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

17. 2023-07-28
    listed $277,500 Active 569-char remark

    Show marketing remark (569 chars)

    This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

18. 2023-07-19
    historical $277,500 569-char remark

    Show marketing remark (569 chars)

    This updated and upgraded 2 story townhome located within a mile of the TPC Twin Cities golf club features an open & spacious floorplan with beautiful kitchen with granite counters and large center island, large primary bedroom with oversized walk in closet and private bath, basement with bonus room, nice deck, great low traffic location in the development facing treed area, and is adjacent to miles of walking and biking trails plus all of the lakes, shopping and restaurants Blaine has to offer! This property is priced to sell fast, so don't wait on this one!

19. 2018-07-30
    soldstatus $201,000
20. 2018-07-06
    soldstatus $201,000 Sold

    Show marketing remark (354 chars)

    In demand townhome optimally located in a quiet, natural setting. Almost no traffic. This move-in ready home features an open main-level floor plan, kitchen island, generous master suite including a walk-in closet, southern exposure with great natural light and a deck off of living room. Upper level laundry, basement bonus room and more. A must see!

21. 2018-06-26
    status Pending

    Show marketing remark (354 chars)

    In demand townhome optimally located in a quiet, natural setting. Almost no traffic. This move-in ready home features an open main-level floor plan, kitchen island, generous master suite including a walk-in closet, southern exposure with great natural light and a deck off of living room. Upper level laundry, basement bonus room and more. A must see!

22. 2018-05-09
    historical Contingent - Other

    Show marketing remark (354 chars)

    In demand townhome optimally located in a quiet, natural setting. Almost no traffic. This move-in ready home features an open main-level floor plan, kitchen island, generous master suite including a walk-in closet, southern exposure with great natural light and a deck off of living room. Upper level laundry, basement bonus room and more. A must see!

23. 2018-05-09
    listed $199,900 Active

    Show marketing remark (354 chars)

    In demand townhome optimally located in a quiet, natural setting. Almost no traffic. This move-in ready home features an open main-level floor plan, kitchen island, generous master suite including a walk-in closet, southern exposure with great natural light and a deck off of living room. Upper level laundry, basement bonus room and more. A must see!

24. 2010-10-01
    historical
25. 2010-08-02
    listed $149,900

ⓘ 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: $3,253 · $271/mo
• Projected year-2 tax: $3,253 · $271/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 ≥100°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: $29,574
• − Mortgage interest: −$15,964
• − Property taxes: −$3,253
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − HOA: −$3,720
• − Depreciation: −$8,291
• Taxable loss: −$7,811
• Est. tax savings @ 24.0%: +$1,875
• After-tax cash flow: $-1,095/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: Spring Lake Park Public Schools
• NCES district ID: 2733330
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $65,602
• Composite: 40.11/100
• National rank: #3802
• State rank: #162 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+90.1% since first listed

17 events — show timeline

• 2026-06-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Coming Soon $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-25 Sold (Public Records) $285,000 Public Records
• 2023-09-14 Sold (MLS) $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-28 Listed $277,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-19 Coming Soon $277,500 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-30 Sold (Public Records) $201,000 Public Records
• 2018-07-06 Sold (MLS) $201,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-09 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-02 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2026): $3,253 · +12.3% YoY. Source: county tax records.