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2024 Drew Ave S, Minneapolis, MN, 55416

2beds
2baths
1,935sqft
$725,000
$375price/sqft
$5,236/moest. monthly cost
$209,440/yrincome needed

About This Home

Just one block from Cedar Lake, this beautifully maintained 1951 rambler offers timeless character in one of Minneapolis' most sought-after neighborhoods. Lovingly cared for by the same owner for more than 50 years, the home reflects decades of pride in ownership and thoughtful maintenance. Situated on a picturesque quarter-acre lot, the property is surrounded by lush perennial gardens, mature trees, and an in-ground sprinkler system that keeps the landscape looking its best throughout the season. With nearly 2,000 finished square feet, the home features two spacious bedrooms, two bathrooms, and inviting living spaces filled with natural light. Classic mid-century charm blends seamlessly with a functional floor plan designed for comfortable everyday living. A screened porch overlooks the private backyard, offering the perfect place to relax and enjoy the peaceful surroundings. The lower level is a nostalgic nod to the home's mid-century roots, showcasing a spacious vintage recreation room complete with a classic wet bar that's ready for entertaining. The unfinished portion of the basement offers excellent utility with a dedicated laundry room, a cedar-lined closet, a ¾ bathroom, and abundant storage space. Outside your door, enjoy the very best of Minneapolis living with Cedar Lake's beaches, walking and biking trails, kayaking, paddleboarding, and year-round recreation just a block away. Downtown Minneapolis, the Chain of Lakes, and neighborhood restaurants are all just minutes from home. This is a rare opportunity to own a classic rambler in an exceptional location where timeless architecture, beautiful gardens, and an unmatched lake lifestyle come together. Homes that have been cherished by one owner for over half a century don't come along often.

Getting Around

17
WalkingCar-Dependent
28
TransitSome Transit
62
BikeBikeable

Schools

2/10
3/10
North Academy Senior HighGrades 9-122.6 mi

Construction

Condition

  • Year built: 1951

Materials

  • Roof: Age 8 Years or Less
  • Construction materials: Block,Concrete

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family

Interior

Appliances

  • Appliances included: Dishwasher,Disposal,Dryer,Humidifier,Gas Water Heater,Microwave,Range,Refrigerator,Washer
  • Laundry features: Gas Dryer Hookup,Lower Level,Laundry Room,Sink

Basement

  • Has basement: Yes
  • Basement: Block,Full,Partially Finished,Tile Shower

Bedroom

  • Level: Main

Bedroom2

  • Level: Main

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 2
  • Full bathrooms: 1
  • 3/4 bathrooms: 1

Dining Room

  • Level: Main

Family Room

  • Level: Lower

Features

  • Number of fireplaces: 2
  • Fireplace features: Family Room,Living Room,Wood Burning
  • Fireplace: Yes
  • Finished area below ground: 533
  • Finished area above ground: 1,402

Heating & Cooling

  • Heating features: Forced Air
  • Cooling features: Central Air

Informal Dining Room

  • Level: Main

Interior Area

  • Total structure area: 2,721
  • Total interior livable area: 1,935 sqft

Living Room

  • Level: Main

Office

  • Level: Main

Other

  • Level: Lower

Property

Accessibility

  • Accessibility features: None

Details

  • Parcel number: 3202924220008
  • Zoning description: Residential-Single Family
  • Foundation area: 1319

Features

  • Levels: One
  • Stories: 1
  • Pool features: None
  • Patio & porch: Screened,Side Porch
  • Fencing: Partial

Lot

  • Lot size: 0.25 Acres
  • Features: Near Public Transit,Tree Coverage - Medium
  • Lot size dimensions: 52 x 44 x 155 x 21 x 26 x 152

Parking

  • Total spaces: 1
  • Parking features: Attached,Concrete,Garage Door Opener
  • Has garage: Yes
  • Attached garage spaces: 1
  • Covered spaces: 1
  • Has uncovered spaces: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveModerate
  • Hail
    HailModerate
  • Heat Wave
    Heat WaveModerate
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Cold Wave
Hail
Heat Wave
Tornado

FEMA Declared Disasters in Hennepin County and Minnesota

Flood
Severe Storm
Straight Line Winds

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $3,665$43,980
Home Insurance *$476$5,712
Property Taxes $925$11,100
Electricity $170$2,050
Total$5,236$62,832
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$179,520/yr
40% on housing$157,080/yr
45% on housing$139,626/yr

Minnesota FAIR Plan Programs

Minnesota FAIR Plan

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 4,160Commercial: 101
Total Premiums$4.54M
Total Exposure$457.44M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 11.2%
11.2%
0%30.0%
Electricity Growth Rate10-year average: 2.7%
2.7%
0%15.0%
Property Taxes Growth Rate2-year average: 0.2%
0.2%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$375This listing

vs Other Active Listings

Avg $/sqft

ZIP 55416$225
Hennepin County$211

vs Homes Sold Last Month

Median $/sqft

ZIP 55416$245
Hennepin County$207

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-08-06Price change$699,000
2026-07-24Listed for sale$725,000

For Sale by Agent

AgentMelissa P Vilett
BrokerageColdwell Banker Realty

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