One thing I have learned over the last few years is that people like being close to the light rail. There are a lot of buyers that specifically want to buy within 4-6 blocks from the train so they can walk out their door, walk down the street and hop on the light rail. I have seen an increase in demand for investment properties lately, as well. It seems that people who want to live close to the light rail also want to have the ability to rent out their house. I also get a lot of calls from people who work at the airport who are looking to buy along the light rail because they want to have a "crash pad" when they are in town.
That being said, this property on 38th and Minnehaha is perfect for somebody that wants to be close to the light rail, have a small house that is affordable to maintain and be on a great intersection (that I think is going to do very well over the next 10 years). I could even see a coffee shop or little bakery popping up across the street (either would add a more value as most people in Minneapolis want to be able to walk to commercial spots).The house has two bedrooms and a bathroom upstairs, a great open layout with a connected living and dining room, a front porch and a really nice back yard. The garage is less than 10 years old, and its huge for south Minneapolis (I think it might be bigger than the house!). The basement is solid and the upper level bedrooms are a good size. Ill be honest, the house needs a little bit of work, but if you opened up the kitchen it would add a ton of value. I think with about $10,000-$15,000 worth of work this house could be really nice and would probably sell for around $230,000. Its going to be coming to the market soon, so if you want to check it out before it goes live let me know.