A local business buddy of mine and I have been trying to narrow down the MSAs we are focusing on in the twin cities. Last week we got on google hangout and "mapped" the different neighborhoods by their general class. I know that every street has its own character, but I was curious from local investors, does this seem somewhat accurate? Anything you super disagree with? We're looking for small apartment buildings (750 - 1.5M).
Very accurate and cool to see. The only thing I'd throw in is the swq of 394/100 is A+ right now, but it tails off quickly. Thanks for sharing!
I think the Midway neighborhood west of Snelling (51) is a solid B/B+, depending on street, especially north of Thomas. This general area seems to be upcoming, in my opinion (disclaimer, I own a 4plex here).
Directly east of Snelling until Lexington, I'd label B- rather than C.
Own a duplex in Seward where labeled "A". My map would have the first 2 blocks south of Franklin downgraded due to the proximity to Cedar-Riverside crime, although the location is closer to the colleges. :(
You can get a complete demographic breakdown of every Minneapolis & St Paul neighborhood here -
Gives you things like age, race, % rentals, incomes and a ton more.
I think you can pretty much determine the rental class by the demographics and this is much more defined than your map (although your map looks pretty good as a general guide).
Thanks for posting this Shane! The feedback is interesting... it almost makes me wish there was a way for people to visually comment on the map.
i think you are fairly accurate, but where you have a huge D grid for north Minneapolis is true for the city. When you get to the western edge near, Golden Valley, Robbinsdale, and Crystal you can find some good values.
@Jay Lohn - I totally buy that. We didn't bother classing those as it was a touch far from our area of focus. Where do you put them out of curiosity? Where are you properties?
Of those 3 cities I mentioned golden valley by far the best, then Crystal, Robbinsdale.
All of the properties I own are a little further NW in Champlin, Coon Rapids & Ramsey.
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