433 7th St S #2305 · Minneapolis, MN 55415

$92,000

1 bd · 1.0 ba · 670 sqft · Condo public records · 132 Days on market

Built 1985 $137/sqft · 42% below area Est $159k · 42% under $712/mo HOA · 39% of rent

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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 +16.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +5.1/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks MLS

Top-floor, downtown facing condo in Centre Village with unique 10-foot ceilings! All Skyway access! Excellent location - close to light rail, the river, stadium, downtown core, and more. Amenities include a pool, fitness center, patio and deck grilling area, and game room. Several common areas are currently being enhanced. Laundry on each floor. Underground parking available for lease at $150–$200 per month. All Windows are NEW. Assessment has been paid off and will not transfer to buyer. Property is vacant. Kitchen, bedroom and living room photos have been digitally staged

Key facts

• $712 HOA
• Community pool
• Built 1985

🏷️ Possibly a rental listed for sale. The $92,000 price doesn't fit this home's estimated sale value (~$158,512) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $92k.

Deal economics

• At list price, monthly cash flow is $52 ($625/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 (+2.6%/yr); 81 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); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent is only 17% of the median local income ($125k/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 $636 of loan paydown is wiped out by about $3k 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

• It's been on market 132 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $12k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $80,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.97% ✓
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 4.2

CMA / ARV

• ARV (median comp): $158,512
• List price: $92,000
• Delta: -41.96%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.54×
• Total profit: $-11,740
• Equity at exit: $13,717

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-6,571
• Equity at exit: $7,954

Cash invested: $25,760 (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 55415

• Home prices YoY: -2.4%
• Rents YoY: 2.6%
• Active inventory: 81
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,813 high
• Mortgage (P&I): −$482
• Tax from tax record: −$147 /mo · $1,770/yr
• Insurance: −$38
• HOA: −$712
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $52

Break-even live

Break-even rent $1,747

Max offer price $92,000

Occupancy floor 92%

Sensitivity live

Price	-10% $104	-5% $78	+0% $52	+5% $26	+10% $0
Rent	-10% $-91	-5% $-19	+0% $52	+5% $124	+10% $195
Rate	-1.0pp $98	-0.5pp $76	base $52	+0.5pp $28	+1.0pp $4

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
431 S 7th St #2610 Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	25d	1	0.03mi
431 S 7th St Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	45d	2	0.03mi
431 S 7th St Minneapolis, MN	1.0	1.0	430	$1,250	$2.91	12d	2	0.03mi
650 Portland Ave Minneapolis, MN	2.0	1.0–2.0	1104	$2,825	$2.56	0d	16	0.07mi
600 5th Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	878	$1,440	$1.64	0d	12	0.08mi
615 S 8th St Minneapolis, MN	2.0	1.0–2.5	1252	$3,675	$2.94	0d	49	0.13mi
609 S 9th St #2 Minneapolis, MN	1.0	1.0	600	$1,095	$1.82	45d	1	0.20mi
511 S 4th St Minneapolis, MN	2.0	1.0–2.0	882	$2,222	$2.52	0d	11	0.22mi
910 Portland Ave Minneapolis, MN	1.0	1.0	392	$1,056	$2.69	15d	1	0.22mi
608 2nd Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	999	$1,686	$1.69	0d	32	0.23mi
929 Portland Ave #1408 Minneapolis, MN	1.0	1.0	680	$1,485	$2.18	45d	1	0.24mi
900 Centennial Pl Minneapolis, MN	—	1.0	390	$825	$2.12	15d	1	0.28mi
101 S 5th St Minneapolis, MN	3.0	1.0–2.0	1249	$2,262	$1.81	0d	34	0.31mi
515 E Grant St Minneapolis, MN	1.0–2.0	1.0	820	$1,220	$1.49	3d	10	0.31mi
90 S 9th St Minneapolis, MN	2.0	1.0	823	$1,650	$2.00	0d	4	0.33mi
1400 Park Ave Minneapolis, MN	2.0	1.0–2.0	875	$2,040	$2.33	0d	23	0.34mi
1111 3rd Ave S Unit 1511914P Minneapolis, MN	5.0	1.0–3.0	1178	$5,305	$4.50	0d	5	0.36mi
700 S 4th St Minneapolis, MN	2.0	1.0–2.0	897	$2,688	$2.99	0d	25	0.36mi
465 Nicollet Mall Minneapolis, MN	2.0	1.0–3.0	1153	$3,055	$2.65	0d	14	0.37mi
250 Portland Ave Minneapolis, MN	1.0–2.0	1.0–2.0	897	$1,950	$2.17	0d	9	0.38mi
400 Marquette Ave Minneapolis, MN	3.0	1.0–2.0	1103	$2,452	$2.22	0d	11	0.38mi
95 S 10th St Minneapolis, MN	2.0	1.0–2.0	688	$1,744	$2.53	0d	30	0.38mi
501 E 14th St Minneapolis, MN	1.0	1.0	510	$1,055	$2.07	45d	1	0.39mi
365 Nicollet Mall Minneapolis, MN	3.0	1.0–3.5	1656	$4,354	$2.63	0d	36	0.40mi
240 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	1047	$2,075	$1.98	4d	2	0.41mi
1117 Marquette Ave Minneapolis, MN	1.0–2.0	1.0–2.0	886	$1,373	$1.55	0d	17	0.44mi
240 Chicago Ave Minneapolis, MN	2.0	1.0–2.0	825	$2,168	$2.63	0d	14	0.45mi
225 Portland Ave Minneapolis, MN	2.0	1.0–2.0	837	$2,410	$2.88	0d	71	0.45mi
1010 S 7th St Minneapolis, MN	2.0	1.0–2.0	834	$1,928	$2.31	45d	1	0.47mi
728 E 16th St #34 Minneapolis, MN	1.0	1.0	593	$950	$1.60	45d	1	0.47mi
736 E 16th St Minneapolis, MN	1.0–2.0	1.0	650	$917	$1.41	25d	2	0.48mi
811 Washington Ave S Minneapolis, MN	1.0–2.0	1.0–2.0	862	$1,660	$1.93	21d	9	0.48mi
205 Park Ave Minneapolis, MN	1.0–2.0	1.0–2.0	859	$1,829	$2.13	0d	5	0.49mi
729 E 16th St Unit 4 Minneapolis, MN	1.0	1.0	480	$1,155	$2.41	45d	1	0.50mi
270 Hennepin Ave Minneapolis, MN	3.0	1.0–3.0	1505	$4,088	$2.72	0d	53	0.56mi
1423 11th Ave S Minneapolis, MN	1.0–2.0	1.0	818	$1,300	$1.59	0d	27	0.56mi
115 2nd Ave S Minneapolis, MN	1.0	1.0	508	$1,371	$2.70	0d	21	0.57mi
111 S Marquette Ave Minneapolis, MN	1.0–2.0	1.0–2.0	955	$1,516	$1.59	0d	13	0.60mi
212 10th Ave S Minneapolis, MN	3.0	1.0–2.5	1490	$4,213	$2.83	0d	9	0.61mi
1818 Park Ave Unit 181836 Minneapolis, MN	1.0	1.0	750	$950	$1.27	5d	1	0.66mi

HOA detail condo

• Monthly dues: $712 · $8,544/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $92,000 Active 132 DOM
2. 2026-06-18
   days on market $92,000 Active 129 DOM
3. 2026-06-17
   days on market $92,000 Active 128 DOM
4. 2026-06-16
   days on market $92,000 Active 127 DOM
5. 2026-06-15
   days on market $92,000 Active 126 DOM
6. 2026-06-13
   days on market $92,000 Active 124 DOM
7. 2026-06-09
   days on market $92,000 Active 120 DOM
8. 2026-06-08
   days on market $92,000 Active 119 DOM
9. 2026-06-07
   days on market $92,000 Active 118 DOM
10. 2026-06-04
    days on market $92,000 Active 115 DOM
11. 2026-06-03
    days on market $92,000 Active 114 DOM
12. 2026-06-02
    days on market $92,000 Active 113 DOM
13. 2026-06-01
    days on market $92,000 Active 112 DOM
14. 2026-05-31
    days on market $92,000 Active 111 DOM
15. 2026-04-17
    price $97,500 587-char remark

    Show marketing remark (587 chars)

    Top-floor, downtown facing condo in Centre Village with unique 10-foot ceilings! All Skyway access! Excellent location - close to light rail, the river, stadium, downtown core, and more. Amenities include a pool, fitness center, patio and deck grilling area, and game room. Several common areas are currently being enhanced. Laundry on each floor. Underground parking available for lease at $150–$200 per month. All Windows are NEW. Assessment has been paid off and will not transfer to buyer. Property is vacant. Kitchen, bedroom and living room photos have been digitally staged

16. 2026-02-09
    status Active 587-char remark

    Show marketing remark (587 chars)

    Top-floor, downtown facing condo in Centre Village with unique 10-foot ceilings! All Skyway access! Excellent location - close to light rail, the river, stadium, downtown core, and more. Amenities include a pool, fitness center, patio and deck grilling area, and game room. Several common areas are currently being enhanced. Laundry on each floor. Underground parking available for lease at $150–$200 per month. All Windows are NEW. Assessment has been paid off and will not transfer to buyer. Property is vacant. Kitchen, bedroom and living room photos have been digitally staged

17. 2026-02-09
    historical 587-char remark

    Show marketing remark (587 chars)

    Top-floor, downtown facing condo in Centre Village with unique 10-foot ceilings! All Skyway access! Excellent location - close to light rail, the river, stadium, downtown core, and more. Amenities include a pool, fitness center, patio and deck grilling area, and game room. Several common areas are currently being enhanced. Laundry on each floor. Underground parking available for lease at $150–$200 per month. All Windows are NEW. Assessment has been paid off and will not transfer to buyer. Property is vacant. Kitchen, bedroom and living room photos have been digitally staged

18. 2026-02-09
    listed $104,400 587-char remark

    Show marketing remark (587 chars)

    Top-floor, downtown facing condo in Centre Village with unique 10-foot ceilings! All Skyway access! Excellent location - close to light rail, the river, stadium, downtown core, and more. Amenities include a pool, fitness center, patio and deck grilling area, and game room. Several common areas are currently being enhanced. Laundry on each floor. Underground parking available for lease at $150–$200 per month. All Windows are NEW. Assessment has been paid off and will not transfer to buyer. Property is vacant. Kitchen, bedroom and living room photos have been digitally staged

19. 2020-09-14
    historical
20. 2020-08-28
    listed $149,900 Active
21. 2009-04-29
    soldstatus $96,680
22. 2009-03-25
    historical
23. 2009-01-28
    listed $100,000
24. 2004-08-06
    soldstatus $155,000
25. 2004-05-24
    soldstatus $152,000
26. 2000-11-17
    soldstatus $108,500
27. 2000-11-17
    soldstatus $108,500
28. 2000-09-20
    historical
29. 2000-09-15
    listed $112,500
30. 1998-12-04
    soldstatus $55,600
31. 1988-11-01
    soldstatus $55,600

ⓘ 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: $1,770 · $147/mo
• Projected year-2 tax: $1,770 · $147/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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,758
• − Mortgage interest: −$5,153
• − Property taxes: −$1,770
• − Insurance: −$460
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − HOA: −$8,544
• − Depreciation: −$2,676
• Taxable loss: −$327
• Est. tax savings @ 24.0%: +$78
• After-tax cash flow: $704/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): 6,900
• Household income: $124,921
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 344.0

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 0.59)
• Race & ethnicity: White 61% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 6% Slovak 2% Romanian 2%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 2% 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: ▼ -7.23%
• Current HPI: 289.6606
• Rent YoY: ▲ 2.65%
• 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

+75.4% since first listed

17 events — show timeline

• 2026-04-17 Price Changed $97,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Listed $104,400 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-28 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-29 Sold (MLS) $96,680 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-28 Listed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-06 Sold (Public Records) $155,000 Public Records
• 2004-05-24 Sold (Public Records) $152,000 Public Records
• 2000-11-17 Sold (Public Records) $108,500 Public Records
• 2000-11-17 Sold (MLS) $108,500 NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-15 Listed $112,500 NORTHSTARMLS as Distributed by MLS Grid
• 1998-12-04 Sold (Public Records) $55,600 Public Records
• 1988-11-01 Sold (Public Records) $55,600 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,770 · +8.5% YoY. Source: county tax records.