1220 Powderhorn Ter #33 · Minneapolis, MN 55407

$55,000

1 bd · 1.0 ba · 608 sqft · Condo public records · 59 Days on market

Built 1915 $375/mo HOA ↓ 15% since listing

---

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 +23.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking on this 3rd floor one-bedroom unit in the Clearview Cooperative building. This unit needs love but offers a chance for a handy and creative person to realize its charm. The hardwood floors, original woodwork, and tall ceilings come at great value. Nice square footage and large rooms with surprising amounts of storage space. An additional storage locker on the lower level is included. Clearview overlooks beautiful Powderhorn Park, 65 acres of paths, fields, playgrounds and community spirit. Small pets are allowed, excluding dogs. Clearview is home to owner-occupiers only, rather than buy-to-rent investments. Free laundry and bike storage are available on the lower lev

Key facts

• Natural woodwork
• Tall ceilings
• Storage locker

Tags

• HARDWOOD FLOORS
• NATURAL WOODWORK
• TALL CEILINGS
• FREE LAUNDRY
• BIKE STORAGE
• STORAGE LOCKER

Property features AI

Finance

• HOA & community: Clearview Association with a monthly fee of $375; HOA fee covers gas, hazard insurance, heating, internet, lawn care and grounds maintenance

Exterior

• Parking: On-street parking only
• Utilities: City water connected; City sewer connected; Natural gas service; Xcel Energy power
• Home design: Attached residential property; One story; Flat roof
• Construction: Brick and frame construction; Block foundation
• Exterior features: Stone exterior accents; Corner lot; Public transit within about 6 blocks; City street frontage with curbs, paved streets and sidewalks; No pool; No fencing

Interior

• Kitchen: Kitchen — approximately 11 x 7
• Bedrooms: 1 bedroom (Main level) — approximately 14 x 9
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on the main floor
• Heating & cooling: Boiler hot water heating; No central cooling
• Interior features: All living facilities on one level; Main floor primary bedroom; Natural woodwork; Kitchen window
• Laundry & utility: Laundry room in the basement

🏢 Co-op / cooperative unit. The $55,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 fast (+4.3%/yr); 147 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent is only 18% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 4.3% rent growth), your $15k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; HOA is 32% of rent; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 2.12% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-873
• Equity at exit: $8,201

10-year hold

• IRR: 11.0%
• Equity multiple: 1.97×
• Total profit: $14,931
• Equity at exit: $4,755

Cash invested: $15,400 (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 55407

• Rents YoY: 4.3%
• Active inventory: 147
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$288
• Tax from tax record: −$139 /mo · $1,672/yr
• Insurance: −$23
• HOA: −$375
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $97

Break-even live

Break-even rent $1,045

Max offer price $55,000

Occupancy floor 87%

Sensitivity live

Price	-10% $128	-5% $113	+0% $97	+5% $82	+10% $66
Rent	-10% $5	-5% $51	+0% $97	+5% $144	+10% $190
Rate	-1.0pp $125	-0.5pp $111	base $97	+0.5pp $83	+1.0pp $69

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3117 15th Ave S Minneapolis, MN	1.0	1.0	650	$1,398	$2.15	18d	4	0.17mi
3100 Bloomington Ave Minneapolis, MN	1.0	1.0	507	$1,099	$2.17	45d	1	0.21mi
3251 14th Ave S Minneapolis, MN	1.0	1.0	600	$1,099	$1.83	16d	1	0.22mi
811 E Lake St Unit 403 Minneapolis, MN	—	1.0	463	$965	$2.08	45d	1	0.30mi
2835 11th Ave S Minneapolis, MN	2.0	1.0–2.0	688	$1,352	$1.96	0d	11	0.34mi
3400 10th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	45d	1	0.37mi
2944 17th Ave S Minneapolis, MN	1.0	1.0	488	$1,224	$2.51	5d	5	0.38mi
3421 15th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.41mi
3521 12th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	45d	1	0.50mi
3520 12th Ave S Minneapolis, MN	1.0–2.0	1.0	725	$1,100	$1.52	45d	1	0.51mi
3540 11th Ave S Minneapolis, MN	1.0	1.0	600	$1,100	$1.83	45d	1	0.54mi
2810 Park Ave Minneapolis, MN	—	1.0	362	$1,160	$3.20	15d	1	0.56mi
2709 Park Ave Unit 103 Minneapolis, MN	—	1.0	400	$850	$2.12	45d	1	0.62mi
2709 Park Ave Apt 205 Minneapolis, MN	—	1.0	400	$805	$2.01	45d	1	0.63mi
2709 Park Ave Unit 104 Minneapolis, MN	1.0	1.0	575	$975	$1.70	9d	1	0.63mi
2709 Park Ave Unit 208 Minneapolis, MN	1.0	1.0	575	$999	$1.74	0d	1	0.63mi
2822 Portland Ave Unit 2822 Minneapolis, MN	1.0	1.0	600	$900	$1.50	45d	1	0.65mi
2624 16th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.65mi
2630 Chicago Ave Minneapolis, MN	1.0	1.0	600	$950	$1.58	15d	1	0.65mi
2630 Chicago Ave Minneapolis, MN	1.0	1.0	600	$950	$1.58	9d	1	0.65mi
2631 Columbus Ave Unit 209 Minneapolis, MN	1.0	1.0	650	$1,100	$1.69	19d	1	0.65mi
2609 16th Ave S Minneapolis, MN	1.0	1.0	750	$1,198	$1.60	45d	1	0.69mi
2730 Portland Ave Minneapolis, MN	1.0–3.0	1.0–2.0	940	$1,035	$1.10	9d	3	0.71mi
3215 21st Ave S Unit 3215201 Minneapolis, MN	1.0	1.0	550	$1,365	$2.48	25d	1	0.75mi
3705 Chicago Ave Unit 2 Minneapolis, MN	1.0	1.0	575	$1,000	$1.74	45d	1	0.75mi
3139 3rd Ave S Unit 3 Minneapolis, MN	2.0	1.0	725	$1,450	$2.00	45d	1	0.76mi
3116 22nd Ave S Unit 4 Minneapolis, MN	1.0	1.0	585	$995	$1.70	0d	1	0.78mi
2601 Portland Ave Unit Mil Minneapolis, MN	1.0	1.0	550	$1,440	$2.62	19d	1	0.82mi
2601 Portland Ave Minneapolis, MN	1.0	1.0	700	$1,505	$2.15	19d	1	0.82mi
3029 22nd Ave S Unit 217 Minneapolis, MN	—	1.0	438	$1,099	$2.51	4d	1	0.82mi
3029 22nd Ave S Unit 417 Minneapolis, MN	1.0	1.0	636	$1,300	$2.04	4d	1	0.82mi
3029 22nd Ave S Unit 403 Minneapolis, MN	1.0	1.0	637	$1,229	$1.93	4d	1	0.82mi
3029 22nd Ave S Unit 425 Minneapolis, MN	—	1.0	438	$1,130	$2.58	25d	1	0.82mi
3029 22nd Ave S Unit 209 Minneapolis, MN	—	1.0	467	$1,179	$2.52	25d	1	0.82mi
3029 22nd Ave S Unit 218 Minneapolis, MN	—	1.0	593	$1,186	$2.00	18d	1	0.82mi
3029 22nd Ave S Unit 523 Minneapolis, MN	1.0	1.0	636	$1,349	$2.12	0d	1	0.82mi
3029 22nd Ave S Unit 505 Minneapolis, MN	1.0	1.0	693	$1,249	$1.80	25d	1	0.82mi
3105 22nd Ave S Unit 9 Minneapolis, MN	1.0	1.0	557	$975	$1.75	25d	1	0.82mi
3105 22nd Ave S Unit 4 Minneapolis, MN	1.0	1.0	557	$950	$1.71	45d	1	0.82mi
3029 22nd Ave S Unit 625 Minneapolis, MN	—	1.0	438	$1,129	$2.58	0d	1	0.84mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $55,000 Active 59 DOM
2. 2026-06-18
   days on market $55,000 Active 56 DOM
3. 2026-06-17
   days on market $55,000 Active 55 DOM
4. 2026-06-16
   days on market $55,000 Active 54 DOM
5. 2026-06-15
   days on market $55,000 Active 53 DOM
6. 2026-06-13
   days on market $55,000 Active 51 DOM
7. 2026-06-09
   days on market $55,000 Active 47 DOM
8. 2026-06-08
   days on market $55,000 Active 46 DOM
9. 2026-06-07
   pricedays on market $55,000 Active 45 DOM
10. 2026-06-04
    days on market $65,000 Active 42 DOM
11. 2026-06-03
    days on market $65,000 Active 41 DOM
12. 2026-06-02
    days on market $65,000 Active 40 DOM
13. 2026-06-01
    days on market $65,000 Active 39 DOM
14. 2026-05-31
    days on market $65,000 Active 38 DOM
15. 2026-04-23
    listed $65,000 Active 891-char remark

ⓘ 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: $1,672 · $139/mo
• Projected year-2 tax: $1,672 · $139/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 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: $14,021
• − Mortgage interest: −$3,081
• − Property taxes: −$1,672
• − Insurance: −$275
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$4,500
• − Depreciation: −$1,600
• Taxable income: $649
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $1,012/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): 37,667
• Household income: $78,464
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1583.0

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 0.66)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 18% Two or more races 10% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 8% Romanian 3% Lithuanian 2%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 20% Other Asian/Pacific 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: ▼ -211.97%
• Current HPI: 292.0322
• Rent YoY: ▲ 4.30%
• 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

-15.4% since first listed

2 events — show timeline

• 2026-06-06 Price Changed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $65,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $1,672 · +11.4% YoY. Source: county tax records.