16107 7th Ave NW · Andover, MN 55304

$335,000

4 bd · 2.0 ba · 1,384 sqft · SingleFamily public records · 15 Days on market

Built 1948 0.90 ac lot $242/sqft · 30% above area Est $401k · 17% under

---

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 +14.9/15.0
• Cash flow +14.3/30.0
• Schools +4.7/10.0
• DSCR +4.3/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 5-bedroom home offering a flexible layout across three levels. The main level features 2 bedrooms and a full bath, while the upper level includes 2 additional bedrooms and a1/2 bath. The lower level offers a 5th bedroom with walkout access to the patio. Enjoy a large backyard surrounded by mature trees providing exceptional privacy. Additional features include an updated kitchen, detached finished garage, and ample space for a variety of living needs.

Key facts

• 0.9 acre lot
• 2 garage spots
• Built 1948

Property features AI

Exterior

• Parking: Gravel parking; Detached 2-car garage
• Utilities: Well water; Septic system (compliant); Electric and propane fuel
• Home design: Residential property; Two levels; Finished main level and lower level
• Construction: Asphalt roof; Block foundation
• Exterior features: Vinyl exterior; Medium tree coverage; No fencing noted

Interior

• Kitchen: Microwave; Refrigerator; Kitchen with adjacent informal dining/breakfast area
• Bedrooms: 5 bedrooms total; Bedroom on main level; Multiple bedrooms on upper level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main floor; One half bathroom; Upper-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished walkout basement with egress windows; Block foundation; Hardwood floors; Kitchen window
• Laundry & utility: Washer/dryer hookup; Laundry area in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $60 ($721/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 $273k (18.5% below list).
• Recommended offer: $273k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% in Andover — 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 72/100 on livability (#291 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities F, commute F, cost of living D-.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 392 active listings in the ZIP; 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 $10k 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 15 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $272,898 (18.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. Schools are A-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?
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: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (median comp): $401,364
• List price: $335,000
• Delta: -16.53%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-50,553
• Equity at exit: $49,950

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-39,475
• Equity at exit: $28,965

Cash invested: $93,800 (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 55304

• Active inventory: 392
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,729 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$199 /mo · $2,394/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $60

Break-even live

Break-even rent $2,653

Max offer price $335,000

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   historical Contingent - Other 464-char remark
2. 2026-05-07
   listed $335,000 Active 464-char remark
3. 2026-05-06
   historical $335,000 464-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: $2,394 · $199/mo
• Projected year-2 tax: $3,073 · $256/mo
• Expected delta: +$679/yr (+$57/mo · 28.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,748
• − Mortgage interest: −$18,765
• − Property taxes: −$2,394
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$9,745
• Taxable loss: −$5,071
• Est. tax savings @ 24.0%: +$1,217
• After-tax cash flow: $1,938/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Andover

• Score: 72/100
• State rank: #291
• US rank: #6311

Category grades

Amenities F Commute F Cost of living D- 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: Andover, MN
• Population (ZIP): 49,452

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 (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 3% Black 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Asian/Pacific 2% Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -267.68%
• Current HPI: 242.7122
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $335,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2026): $2,394 · +0.3% YoY. Source: county tax records.