642 Highway 55 · Medina, MN 55340

$199,900

2 bd · 1.0 ba · 696 sqft · SingleFamily public records · 6 Days on market

Built 1955 0.53 ac lot

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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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +6.9/10.0
• 1% rule +5.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming one-bedroom home full of potential, ready for its next chapter. Featuring a spacious walk-in closet, a deck, and a screened porch perfect for enjoying the outdoors, this property offers a wonderful opportunity for someone with vision. The home is being sold as-is and will require renovations and updates, but its character and unique features provide an excellent foundation to create a cozy retreat or investment property. Bring your ideas, creativity, and a little love to make this home shine again.

Key facts

• 0.53 acre lot
• Garage
• Built 1955

Property features AI

Exterior

• Parking: Detached garage with 1 car
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One story; All living facilities on one level
• Construction: Block construction; Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Deck; Enclosed porch; Patio; Porch; Screened porch; Wood exterior; Tree coverage - medium; Garage(s) on property

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen window
• Bedrooms: One bedroom on the main level (14 x 13)
• Flooring: Hardwood floors
• Bathrooms: Main floor 3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Hardwood floors; Kitchen window; Living/dining room layout; Primary bedroom with walk-in closet; Main floor primary bedroom; Washer/dryer hookup
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.4% vs local median 1.0% in Medina — 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 60/100 on livability (#756 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Wayzata Public School District (urban): math 75% / reading 78% proficiency, ranked #2 of 301 in MN (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 258 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $200k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $199,900

Questions for the listing agent

1. Built in 1955 — 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. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-10,196
• Equity at exit: $29,806

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $19,638
• Equity at exit: $17,284

Cash invested: $55,972 (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 55340

• Home prices YoY: -32.4%
• Active inventory: 258
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,078 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$161 /mo · $1,936/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $349

Break-even live

Break-even rent $1,637

Max offer price $199,900

Occupancy floor 78%

Sensitivity live

Price	-10% $462	-5% $405	+0% $349	+5% $292	+10% $236
Rent	-10% $185	-5% $267	+0% $349	+5% $431	+10% $513
Rate	-1.0pp $450	-0.5pp $400	base $349	+0.5pp $297	+1.0pp $244

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   status $199,900 Pending 6 DOM
2. 2026-06-17
   days on market $199,900 Active 6 DOM
3. 2026-06-16
   days on market $199,900 Active 5 DOM
4. 2026-06-15
   days on market $199,900 Active 4 DOM
5. 2026-06-13
   statusdays on market $199,900 Active 2 DOM
6. 2026-06-08
   remarks 512-char remark
7. 2026-06-08
   listed $199,900 Coming Soon 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: $1,936 · $161/mo
• Projected year-2 tax: $2,088 · $174/mo
• Expected delta: +$151/yr (+$13/mo · 7.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $24,939
• − Mortgage interest: −$11,198
• − Property taxes: −$1,936
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$5,815
• Taxable income: $1,000
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $3,946/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: Wayzata Public School District
• NCES district ID: 2742160
• Math proficiency: 75% ▼ -4.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $91,783
• Composite: 68.75/100
• National rank: #336
• State rank: #2 of 301 in MN

Livability — Medina

• Score: 60/100
• State rank: #756
• US rank: #18606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Medina, MN
• Population (ZIP): 9,776

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 (77%)
• Race & ethnicity: White 77% Asian 15% Two or more races 4% Black 3%
• Common ancestry: Portuguese 13% Romanian 4% Lithuanian 3%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 83% English-only · Other Asian/Pacific 7% Other Indo-European 3% Chinese 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: ▼ -116.05%
• Current HPI: 242.407
• 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

+244.7% since first listed

3 events — show timeline

• 2026-06-08 Coming Soon $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-10-06 Sold (Public Records) $72,000 Public Records
• 1994-11-09 Sold (Public Records) $58,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,936 · +4.7% YoY. Source: county tax records.