2701 Blackstone Ave S · St. Louis Park, MN 55416

$189,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 12 Days on market

Built 1939 5,227 sqft lot

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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).

• Cash flow +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Remodeling & Flipping or Custom-Built OPPORTUNITY is here! Property is situated on a corner lot in the heart of St. Louis Park. This One-Story-Home, with a walk-out basement and a two-car garage, has two bedrooms and a full bathroom on the main level. This is being sold AS-IS. This OPPORTUNITY would make for a beautiful home or great investment property in a prime location, near Knollwood Mall, Texa-Tonka Shopping Center and West End. If you are looking for a deep-long-corner-lot home in an excellent location, this is The One - A Rare Opportunity!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1939

Property features AI

Finance

• Financial info: Property is owned free and clear

Exterior

• Parking: Detached or attached 2-car garage with 22x20 dimensions
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-story (main level living); Main-level entry
• Construction: Block construction; Asphalt roof (over 8 years old); Block unfinished basement
• Exterior features: Corner lot with medium tree coverage; Partial wood fencing; Paved street frontage; Walkout basement

Interior

• Kitchen: Eat-in kitchen (kitchen/dining room)
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Forced air heating; Wall-mounted cooling unit(s)
• Interior features: Main-floor primary and bedrooms; Dining area combined with kitchen; Wood-burning fireplace (1)
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $74 ($886/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 $176k (7.3% below list).
• Recommended offer: $176k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.1% in St. Louis Park — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Louis Park Public School District (suburban): math 45% / reading 55% proficiency, ranked #100 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Park Spanish Immersion Elementary (math 62% / reading 63%, grade B, #173 of 857 statewide, top 21%, 530 students, 14% FRL); St. Louis Park Middle School (math 37% / reading 52%, grade D, #118 of 258 statewide, top 48%, 956 students, 40% FRL); St. Louis Park Senior High (math 52% / reading 67%, grade C+, #46 of 471 statewide, top 11%, 1,483 students, 43% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; list at $190k implies a 484% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,005 (7.3% below list)

Questions for the listing agent

1. Built in 1939 — 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. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.49×
• Total profit: $-27,341
• Equity at exit: $28,315

10-year hold

• IRR: -7.0%
• Equity multiple: 0.57×
• Total profit: $-22,894
• Equity at exit: $16,419

Cash invested: $53,172 (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 55416

• Rents YoY: 2.3%
• Active inventory: 207
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$996
• Tax from tax record: −$242 /mo · $2,900/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $74

Break-even live

Break-even rent $1,667

Max offer price $189,900

Occupancy floor 91%

Sensitivity live

Price	-10% $181	-5% $128	+0% $74	+5% $20	+10% $-34
Rent	-10% $-65	-5% $4	+0% $74	+5% $143	+10% $213
Rate	-1.0pp $169	-0.5pp $122	base $74	+0.5pp $25	+1.0pp $-25

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2524 Minneapolis, MN	1.0–2.0	1.0	700	$1,550	$2.21	14d	5	0.44mi
2524 Minnesota 100 Unit 2514-0513 St Louis Park, MN	1.0	1.0	450	$1,299	$2.89	5d	1	0.49mi
2524 Minnesota 100 Unit 2514-0533 St Louis Park, MN	1.0	1.0	450	$1,299	$2.89	46d	1	0.49mi
2480 Highway 100 S Minneapolis, MN	1.0–2.0	1.0	755	$1,395	$1.85	4d	2	0.50mi
5621 Minnetonka Blvd Minneapolis, MN	1.0–2.0	1.0	800	$1,509	$1.89	14d	2	0.52mi
3000 Highway 100 S Minneapolis, MN	1.0–2.0	1.0–1.5	867	$1,475	$1.70	17d	3	0.61mi
6800 Cedar Lake Rd S Minneapolis, MN	1.0–3.0	1.0–2.0	1017	$2,465	$2.42	0d	10	0.72mi
5108 Minnetonka Blvd Unit 805 St Louis Park, MN	1.0	1.0	675	$1,095	$1.62	46d	1	0.75mi
5108 Minnetonka Blvd Unit 802 St Louis Park, MN	1.0	1.0	675	$1,225	$1.81	46d	1	0.75mi
8224 W 30th ST Golden Valley, MN	2.0	1.0–1.5	875	$1,625	$1.86	4d	27	0.81mi
29XX Nevada Ave S St Louis Park, MN	1.0–2.0	1.0	865	$1,550	$1.79	7d	19	0.84mi
4505 W 36th St St Louis Park, MN	1.0	1.0	700	$1,269	$1.81	0d	4	0.85mi
1427 Colorado Ave S Minneapolis, MN	1.0–2.0	1.0	800	$1,599	$2.00	0d	9	0.92mi
1425 Colorado Ave S Unit 1427-218 St Louis Park, MN	1.0	1.0	750	$1,249	$1.67	46d	1	0.93mi
4820 MN-7 St Louis Park, MN	1.0–2.0	1.0–1.5	875	$1,705	$1.95	0d	13	0.95mi
4815 Cedar Lake Rd S Minneapolis, MN	1.0	1.0	665	$1,020	$1.53	0d	3	0.99mi
7414 W 22nd St #112 Minneapolis, MN	1.0	1.0	739	$1,350	$1.83	46d	1	1.01mi
5924 W 35th St Unit A Minneapolis, MN	1.0	1.0	750	$995	$1.33	20d	1	1.02mi
1351 Hampshire Ave S Minneapolis, MN	1.0–2.0	1.0	920	$1,675	$1.82	5d	14	1.04mi
5310 W 16th St Minneapolis, MN	1.0–2.0	1.0–2.0	857	$2,615	$3.05	0d	9	1.06mi
5855 Highway 7 Minneapolis, MN	3.0	1.0–2.0	991	$2,562	$2.58	0d	37	1.07mi
2235 Quebec Ave S Unit base Minneapolis, MN	1.0	1.0	700	$1,500	$2.14	46d	1	1.08mi
4450 Minnetonka Blvd Minneapolis, MN	1.0–2.0	1.0	1000	$1,595	$1.59	7d	7	1.08mi
5600 Camerata Way Minneapolis, MN	1.0–2.0	1.0–2.0	1037	$2,502	$2.41	0d	23	1.11mi
2888 Joppa Ave S St Louis Park, MN	1.0–2.0	1.0–1.5	900	$1,595	$1.77	0d	14	1.12mi
3016 Lynn Ave Apt 3B Minneapolis, MN	1.0	1.0	650	$1,075	$1.65	0d	1	1.13mi
1511 Utica Ave S Minneapolis, MN	3.0	1.0–2.5	970	$3,140	$3.24	0d	10	1.14mi
5235 Wayzata Blvd Minneapolis, MN	2.0	1.0–2.0	997	$3,762	$3.77	0d	13	1.15mi
1325 Utica Ave S Minneapolis, MN	3.0	1.0–2.0	1030	$3,065	$2.97	0d	10	1.17mi
7920 Minnetonka Blvd Minneapolis, MN	2.0	1.0–2.0	865	$2,902	$3.35	0d	14	1.20mi
4300 Minnesota 7 St Louis Park, MN	1.0–2.0	1.0	607	$1,345	$2.21	46d	5	1.22mi
901 Xenia Ave S Minneapolis, MN	2.0	1.0–2.0	826	$2,532	$3.07	0d	11	1.23mi
3440 Belt Line Blvd Minneapolis, MN	1.0	1.0	706	$1,791	$2.54	0d	12	1.26mi
4501 Park Glen Rd St Louis Park, MN	2.0	1.0–2.0	797	$2,300	$2.89	0d	24	1.29mi
3510 Belt Line Blvd Minneapolis, MN	1.0	1.0	809	$2,254	$2.78	0d	8	1.30mi
770 Xenia Ave S Minneapolis, MN	2.0	1.0–2.0	894	$2,955	$3.31	0d	29	1.31mi
7201 Walker St Minneapolis, MN	1.0–3.0	1.0–2.0	1078	$2,114	$1.96	0d	21	1.34mi
4301 Park Glen Rd Minneapolis, MN	2.0	1.0–2.0	781	$1,939	$2.48	0d	10	1.35mi
3601 Park Center Blvd Minneapolis, MN	1.0–2.0	1.0–2.0	942	$2,406	$2.55	0d	20	1.35mi
3055 Virginia Ave S St Louis Park, MN	1.0	1.0	675	$1,075	$1.59	46d	1	1.39mi

Listing history 6 events

1. 2026-04-22
   status Pending
2. 2026-04-18
   price $189,900
3. 2026-04-11
   listed $205,000 Active
4. 2026-04-07
   historical $205,000
5. 1979-09-01
   soldstatus $32,500
6. 1973-03-01
   soldstatus $17,900

ⓘ 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: $2,900 · $242/mo
• Projected year-2 tax: $2,900 · $242/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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,121
• − Mortgage interest: −$10,637
• − Property taxes: −$2,900
• − Insurance: −$950
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$5,524
• Taxable loss: −$2,269
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $1,431/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: St. Louis Park Public School District
• NCES district ID: 2733780
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $65,785
• Composite: 44.26/100
• National rank: #2840
• State rank: #100 of 301 in MN

Livability — St. Louis Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Louis Park, MN
• County: Hennepin County · 1,150,272 people
• City population: 60,356
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 35,015
• Household income: $105,958
• Rent vs Own: 50.1% rent · 49.9% own
• Severe rent burden: 1213.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Hispanic / Latino 8% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Romanian 5% Lithuanian 4%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 1% 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: ▼ -490.63%
• Current HPI: 230.651
• Rent YoY: ▲ 2.26%
• 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

+960.9% since first listed

6 events — show timeline

• 2026-04-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-18 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-11 Listed $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Coming Soon $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 1979-09-01 Sold (Public Records) $32,500 Public Records
• 1973-03-01 Sold (Public Records) $17,900 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,900 · +1.6% YoY. Source: county tax records.