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1301 E 82nd St
Bloomington, MN

1301 E 82nd St

$320,000
2 bd • 2 ba • 1,298 sf

This analysis was generated by artificial intelligence on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$320,000

Price/Sq.Ft

$247

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Price Per Square Foot: The price per square foot is $246.53, which could be competitive depending on the location and condition of the property. A thorough analysis of comparable properties in the area is needed. • Two Bedrooms and Two Bathrooms: The property having two bedrooms and two bathrooms makes it suitable for small families, roommates, or investors looking for a rental property. • Rental Market: The current rental rates in Bloomington for a two-bedroom unit are $1410, which indicates a potential for rental income. This needs to be compared to the mortgage payments and other costs. • Median Income: The median income of $64205 in Bloomington suggests a stable tenant base for rental properties.

The Bad

• No Property Description: The lack of a property description and room details makes it impossible to determine the interior condition and layout. This is a significant red flag. • Unknown Year Built: The lack of information on the build year makes it difficult to assess the property's condition, potential maintenance needs, and remaining useful life of its systems. • Lack of Utility Information: The absence of details on utilities means that potential buyers cannot assess utility costs or the efficiency of the systems. • No Property Features Listed: The absence of any listed features is unusual and makes it difficult to determine what distinguishes this property from others.

The Ugly

• Potential for High Maintenance Costs: Given the unknown year built and lack of property details, there is a high risk of costly repairs. Older homes often have hidden issues such as foundation problems, outdated plumbing and electrical systems, and roof issues. • Risk of Unexpected Costs: The lack of information makes it difficult to budget for maintenance, repairs, and upgrades. This increases the risk of unexpected expenses. • Risk of Lower Property Value: Homes in areas affected by airport noise can have lower property values, which could impact future resale potential. • Potential for Radon: Given that radon is a concern in Minnesota, the property may require testing and a mitigation system, which could add to the cost. • Risk of Flooding: Depending on the exact location, the property may be in a floodplain, requiring additional flood insurance and mitigation.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Investors seeking a rental property with a projected positive cash flow. The two-bedroom rental rate of $1410 against a mortgage payment (assuming 20% down and 7% interest) and the price per sqft of $246.53 suggests a potential for a positive cash flow, although this needs to be verified with a thorough cost analysis. • Buyers comfortable with potential airport noise. Given the proximity to MSP, this property would suit those who are not sensitive to aircraft noise or who are frequently traveling. • Buyers seeking a home with convenient highway access. The property's location near major highways may appeal to those who commute or need easy access to other parts of the Twin Cities metro area. • Buyers who do not need a large yard. The listing does not mention yard size, which may indicate that it is minimal or non-existent.

Not For

• Buyers seeking a quiet, suburban setting. The proximity to MSP and major highways could lead to noise issues. • Buyers who need a large yard or outdoor space. The listing does not mention a yard, indicating that this property might not be suitable for those who desire outdoor space for children, pets, or gardening. • Buyers who are very sensitive to noise. The property's location near the airport and highways could be a concern for those sensitive to noise. • Buyers looking for a very modern or updated home. The lack of details on renovations or upgrades may mean the property requires investment to meet modern standards.
Demographics
Area Median Income

$64,205

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Risk Assessment

Risk Analysis

• Airport Noise: Living near MSP can lead to significant aircraft noise, potentially impacting the property's value and tenant satisfaction. Noise mitigation strategies might be needed. • Unknown Year Built: The unknown construction year presents a significant risk. Older homes may have hidden structural, plumbing, and electrical issues. A thorough inspection is mandatory. • Lack of Property Details: The absence of a property description, room details, and utility information makes it difficult to properly assess the property's value. This increases the risk of unexpected issues and costs. • Highway Traffic: While convenient, proximity to major highways can mean noise and congestion issues. • High Property Taxes: Bloomington's higher-than-average property taxes can add to the overall cost of ownership. • Potential Flood Risk: Properties near Bloomington's lakes and wetlands may be at risk of flooding, so flood maps should be checked. • Radon: Radon is a common concern in Minnesota, so a radon test and mitigation system (if needed) could add costs.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$280,133

-12.5% below list price

Median Price

$300,000

Based on 6 recent sales

Price per Sq.Ft

$239

Comparable Properties

8010 2nd Avenue S, Bloomington, MN 55420
Price: $300,000
Sq.Ft: 1,480
Beds/Baths: 3/2
$/Sq.Ft:
$20317.8%
Sale Date: 11/4/2024
8525 14th Avenue S, Bloomington, MN 55425
Price: $319,900
Sq.Ft: 1,052
Beds/Baths: 3/2
$/Sq.Ft:
$30423.3%
Sale Date: 11/15/2024
8230 15th Avenue S, Bloomington, MN 55425
Price: $376,000
Sq.Ft: 1,180
Beds/Baths: 2/2
$/Sq.Ft:
$31929.2%
Sale Date: 9/23/2024
8243 2nd Avenue S, Bloomington, MN 55420
Price: $295,000
Sq.Ft: 1,140
Beds/Baths: 2/2
$/Sq.Ft:
$2595.0%
Sale Date: 9/6/2024
7509 4th Avenue S, Richfield, MN 55423
Price: $260,000
Sq.Ft: 1,134
Beds/Baths: 3/2
$/Sq.Ft:
$2297.0%
Sale Date: 9/5/2024
8935 Old Cedar Avenue S #104, Bloomington, MN 55425
Price: $129,900
Sq.Ft: 1,094
Beds/Baths: 2/2
$/Sq.Ft:
$11951.8%
Sale Date: 7/30/2024

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