“Location” x 3

Quick! Test your knowledge of today’s Twin Cities housing market, and guess how much this Spartan-looking, 400 square foot cottage in South Minneapolis is listed for:

A. $89k
B. $149k
C. $249k
D. $400k

Before I give the answer, here are a couple clues:

—-The property is located just west of Cedar Lake, in a neighborhood where homes fetch $600k to more than triple(!) that.

—-According to Hennepin County, the home sits on a 50′ x 127′ lot (the standard lot size in Minneapolis is 40′ x 120′). Translation: it could easily be a teardown.

–The interior (such as it is) was completely updated last year.

—-There are at least a dozen new homes and major remodels in progress within 3 blocks.

Just in case there’s any doubt . . . the correct choice is “D. $400k.”

See also, “True or False: To be a Teardown, a Property Must Be in Poor Physical Condition“; “The $10,000 Cedar Lake Cabin (But, Good Luck Buying it For That)“; and “Guess How Much?.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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