Minneapolis home with “worst possible location” asking $190K

Some of the neighboring properties are set to be redeveloped with housing, a park, and more

National Weekend Edition /
Nov.November 13, 2021 11:30 AM
The three bedroom house (Redfin via RES Realty)

The three bedroom house (Redfin via RES Realty)

They say location is everything. That’s probably why this Minneapolis home has sat on the market for seven months, despite its relatively low $190,000 price tag.

Described as “cozy” and “centrally located,” the home sits all by itself at 3530 Washington Avenue N, a tiny, triangular lot flanked by Interstate 94 on one side and industrial buildings on the Mississippi River on the other.

Put simply, it’s “the worst possible location,” according to local outlet Bring Me the News.

The home was built in 1917, long before neighboring farmland was developed for industrial use and the arrival of the interstate. A 1938 aerial shot of the neighborhood shows that the home was once quite nicely situated.

An aerial view of the property (Google Maps)

An aerial view of the property (Google Maps)

It was still on just a sliver of land between two roads, but immediately to the west was a large residential subdivision and to the right was farmland and the banks of the Mississippi.

A buyer may have upside, however. While the highway isn’t going anywhere, the city wants to redevelop the riverfront nearby industrial properties by adding a park, boardwalk and an outdoor music venue.

The first phase of the project includes mixed-income affordable housing with ground-floor commercial space just up the street from the home, as well as new commercial space nearby.

The 48-acre Upper Harbor Terminal project has been in the works for several years. If ultimately seen through, the project could spur more investment and development in the area.

Either way, there are plenty of homes around the globe in worse locations. Some people in China became something of celebrities for their refusal to move to make way for new developments after finding their homes surrounded by highways, towers, and other projects.

[Bring Me The News] — Dennis Lynch 





    Related Articles

    arrow_forward_ios
    Matt Lauer exposes Hamptons estate to the market
    Matt Lauer exposes Hamptons estate to the market
    Matt Lauer exposes Hamptons estate to the market
     Fredrik Eklund and the property (Getty, Steve Frankel)
    Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
    Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
    Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
    Gordon Ramsay to open first South Florida restaurant in Miami Beach
    Gordon Ramsay to open first South Florida restaurant in Miami Beach
    645 Madison Avenue (Google Maps)
    645 Madison ground lease trades to Titan Golden for $27M
    645 Madison ground lease trades to Titan Golden for $27M
    Blackstone's Stephen Schwarzman (Getty)
    Blackstone buys logistics portfolio for $2.8B
    Blackstone buys logistics portfolio for $2.8B
    Virtual real estate speculators notch another record deal
    Virtual real estate speculators notch another record deal
    Virtual real estate speculators notch another record deal
    Vanilla Ice and Mark Alfieri
    Vanilla Ice is back with a new home makeover show
    Vanilla Ice is back with a new home makeover show
    NY REIT CEO Michael Weill and board nominee Sharon Stern (AR Global, Cedar Realty Trust)
    Activist threatens proxy battle at New York City REIT
    Activist threatens proxy battle at New York City REIT
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...