3735 Girard Ave N · Minneapolis, MN 55412

$225,000

3 bd · 1.0 ba · 1,301 sqft · SingleFamily public records · 1 Days on market

Built 1907 4,791 sqft lot Est $265k · 15% under

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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 +14.4/15.0
• Cash flow +14.0/30.0
• DSCR +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market! Completely renovated, beautiful 3 bedroom home! Updates include, brand new granite counter, new stainless steel appliances, new washer and dryer, whole house freshly painted, gleaming hardwood floors, brand new upper floor bathroom with a new vanity and shower. Huge 3 season porch, detached 2 car garage and much more! Close to downtown, all at a price under $200k!

Key facts

• Three season porch
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• THREE SEASON PORCH
• DETACHED TWO CAR GARAGE
• EASY ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Above-grade finished area and living area reported; Basement: full and unfinished

Exterior

• Parking: Detached 2-car garage; One carport space
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers; Power provided by Xcel Energy
• Home design: Residential property; Two levels; Entry on main level
• Construction: Brick/mortar foundation; Built with traditional construction
• Exterior features: Covered, enclosed front porch (glass enclosed); Three-season porch; Chain link, wood, and privacy fencing; Tree coverage (medium); City view; Zero lot line

Interior

• Kitchen: Kitchen with center island; Range; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms total; Primary bedroom on upper level; Second and third bedrooms on upper level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (upper level)
• Heating & cooling: Hot water heating; No central air
• Interior features: Hardwood floors; Natural woodwork; Kitchen center island; Kitchen window; Porch
• Laundry & utility: Washer and dryer (hookup in basement); Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $31 ($370/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (18.8% below list).
• Recommended offer: $183k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (+6.3%/yr); 169 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 32% of the median local income ($69k/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 $7k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 23y 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 $182k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,783 (18.8% below list)

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.81% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $265,404
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3123 Dupont Ave N	0.73mi	2/1.0 (-1)	1,200 (-8%)	19mo	$245,000	$204	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.35% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.55×
• Total profit: $-28,185
• Equity at exit: $33,548

10-year hold

• IRR: 1.1%
• Equity multiple: 1.09×
• Total profit: $5,742
• Equity at exit: $19,454

Cash invested: $63,000 (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 55412

• Home prices YoY: -26.9%
• Rents YoY: 6.3%
• Active inventory: 169
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,828 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$139 /mo · $1,673/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $31

Break-even live

Break-even rent $1,789

Max offer price $225,000

Occupancy floor 93%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 N Dowling Ave Unit 304 Minneapolis, MN	2.0	1.0	900	$1,450	$1.61	4d	1	0.06mi
3315 James Ave N Minneapolis, MN	4.0	1.0	1400	$2,100	$1.50	4d	1	0.55mi
3255 N Logan Ave Unit 2 Minneapolis, MN	2.0	1.0	900	$995	$1.11	17d	1	0.65mi
3105 N Girard Ave Unit 2 Minneapolis, MN	4.0	1.0	1250	$2,300	$1.84	24d	1	0.73mi
4311 Humboldt Ave N Minneapolis, MN	2.0	1.0	915	$1,795	$1.96	43d	1	0.75mi
414 N 33rd Ave Unit 2 Minneapolis, MN	2.0	1.0	1246	$1,600	$1.28	43d	1	0.77mi
3114 Morgan Ave N Minneapolis, MN	4.0	2.0	1362	$2,000	$1.47	14d	1	0.79mi
3211 N 6th St Unit 2 Minneapolis, MN	4.0	1.0	900	$1,450	$1.61	24d	1	0.82mi
2947 Morgan Ave N Minneapolis, MN	2.0	1.0	1106	$1,950	$1.76	14d	1	0.91mi
2900 N Colfax Ave Unit 2 Minneapolis, MN	2.0	1.0	1200	$1,345	$1.12	24d	1	0.96mi
2703 Humboldt Ave N Minneapolis, MN	3.0	1.0	1218	$1,450	$1.19	22d	1	1.04mi
3001 N 3rd St Apt 1 Minneapolis, MN	2.0	1.0	900	$1,250	$1.39	20d	1	1.06mi
2646 Dupont Ave N Unit 2 Minneapolis, MN	4.0	1.0	1514	$2,245	$1.48	43d	1	1.10mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	43d	1	1.25mi
318 N 27th Ave #2 Minneapolis, MN	3.0	1.0	1200	$1,800	$1.50	4d	1	1.25mi
2330 N Irving Ave Minneapolis, MN	2.0	1.0	1600	$1,375	$0.86	7d	1	1.34mi
2323 26th Ave N Minneapolis, MN	2.0	1.0	807	$1,717	$2.13	14d	3	1.37mi
2324 Logan Ave N Minneapolis, MN	4.0	1.5	1400	$2,300	$1.64	44d	1	1.42mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	22d	1	1.46mi
1510 N 22nd Ave #1 Minneapolis, MN	3.0	1.0	1500	$1,875	$1.25	4d	1	1.46mi
1523 22nd Ave N Minneapolis, MN	3.0	1.0	943	$1,695	$1.80	14d	1	1.49mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $225,000 Active 1 DOM

ⓘ 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: $1,673 · $139/mo
• Projected year-2 tax: $2,097 · $175/mo
• Expected delta: +$423/yr (+$35/mo · 25.3%)

ⓘ 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: $21,934
• − Mortgage interest: −$12,603
• − Property taxes: −$1,673
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$6,545
• Taxable loss: −$3,523
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $1,216/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): 24,460
• Household income: $68,682
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 7% Tagalog/Filipino 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: ▼ -109.98%
• Current HPI: 298.1414
• Rent YoY: ▲ 6.35%
• 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

+181.6% since first listed

31 events — show timeline

• 2026-06-17 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-26 Sold (Public Records) $182,000 Public Records
• 2021-03-19 Sold (MLS) $182,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-06 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-01 Coming Soon $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-03 Price Changed $184,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-11 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-22 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-14 Sold (Public Records) $77,000 Public Records
• 2011-01-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-26 Listed $84,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-13 Sold (Public Records) $793,250 Public Records
• 2010-07-13 Sold (Public Records) $793,250 Public Records
• 2010-03-15 Sold (Public Records) $30,165 Public Records
• 2007-10-22 Sold (MLS) $69,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-11 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-10-04 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-10 Sold (Public Records) $165,000 Public Records
• 2005-09-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-06 Sold (MLS) $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-04 Listed $162,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-30 Sold (MLS) $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-10 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $1,673 · +5.9% YoY. Source: county tax records.