MSP bottom dollar neighborhoods - seeking firsthand experiences and specific apartment recommendations (Minneapolis: apartments)

[Squeamish]

I've gone back and forth with posting this, because I want to get my feelers out there but I don't want to bother getting ridiculed or getting the standard pick-a-good-neighborhood-with-low-crime-and-pay-the-price response that these threads tend to get. I read C-D from time to time and post on rare occasions on topics that interest me, so I know what's going on.

My life outside of work these days is absolutely fantastic for a number of reasons. I have exciting hobbies and travel all over the region going on epic adventures. And as I get older I've started viewing each free day I have as something special that needs to be put to good use, because I only have so many left. For these reasons, I refuse to slow down, but this comes at a major price. I'm being faced with the decision either to downsize drastically or stay home on many weekends. Boo hoo to that. I'm determined to find the absolute bottom dollar apartment in the metro area so my wild adventures and fulfilling lifestyle can carry on.

From limited research, the absolute maximum I'm willing to pay is $400/month. I have a solid lead on something in this range, but I won't stop there. I'm going to do extensive research either to find something in the $300 range or rule out that possibility if it proves to be impossible.

Not interested in a room or shared space. I don't want to walk through your house to get to my room. I don't want to deal with roommates. My life is hectic and I'm only at home to eat, sleep, and do chores, so I'm not interested in social opportunities or the like. It has to be a stand-alone apartment, although a shared bathroom in the hallway is a possibility. Could be someone's basement if it's separate from the house with a separate entry. My suspicion is bottom dollar will be found on the second story above one of the older commercial buildings on streets like Rice, Payne, Arcade. I'm expecting a dorm-room sized apartment. I do NOT need kitchen facilities. I only use the microwave.

Naturally the few opportunities that present themselves will be in what most of you would refer to as horrible neighborhoods. I read all about crime and demographics and neighborhood transition and gentrification and white flight and I've spent a lot of time looking at the various statistical maps, so I know what's going on. The worst neighborhood in MSP is probably more livable than a better-than-average neighborhood in Chicago or St. Louis, both of which I've spent a lot of time in. Those of you that have experience in other major cities could probably help me more than people that only have experience in MSP due to the difference between your baselines; I know MSP bad is not that bad by US standards but I want more concrete information on just how bad MSP bad is.

Thinking by process of elimination I will probably end up in Rice St./North End or more likely Payne-Arcade-Maryland area. I'd be happy in a northern or northeastern suburb, and everybody tells me rent is lower in the suburbs, but although that's true for typical-sized apartments, from everything I've read, they quit building tiny apartments before most suburbs got developed, so it's unlikely that there are any options in my price range in most suburbs.

The other thing is it pretty much has to be north of 94. I work in Fridley and play in Wisconsin so St. Paul makes the most sense both geographically and cost-wise. Minneapolis is significantly more expensive just because it's Minneapolis. I'd be happy there, but the only place I think it's remotely possible to find something in my price range is North; there are probably parts of North I'd be OK with but probably not the parts with bottom dollar apartments.

I have a master's degree and 12 years of work experience and a solid current position at a reputable large company and really good credit and no criminal record and I'm sober and drug-free and I have always paid my rent on time and I can provide references. What's the catch? I'm aggressively seeking rock bottom rent at a noise and crime level that I can halfway tolerate. Nine out of your ten recommendations will probably be above my price level. Before signing a lease, I'm going to camp out in front of your building for a few hours late at night listening to determine if there are any neighbors that might pose a noise or burglary risk. But some of these commercial buildings only really have room for 2 or 3 apartments, so as long as the other 2 folks are responsible and have full-time jobs, I'll be good to go, who cares about the rest of the neighborhood? I'm seriously considering removing my front bumper and zip-tying the license plate on so it looks like I have nothing worth stealing. Not to mention, this is Minnesota, drive around anywhere in the Rust Belt and you'll agree with me that we really don't have any genuine, bona-fide ghettoes. Even the worst of the worst here is livable. But how livable? That's why I'm here.

Please reply if you have specific suggestions (as in a building or landlord's name, saying "East Side" or "Brooklyn Park" won't help me) or if you have lived in one of MSP's worst neighborhoods and have FIRSTHAND experiences, either good or bad, that you can attest to. Most notably, Payne-Phalen-Arcade area, as this seems to be working its way up the list, for a number of reasons.

Thanks in advance.

[pete6032]

My, do you ever sound like a lovely person.

[BryaninMSP]

Check out the Minnehaha neighborhood. There are some rentals in the $400-500 range (I've not seen anything for less than that). They will be studios, but you'll be right off 94 and it's a good neighborhood.

[pvoyd]

$400/month is going to be tough to find in a commercial rental apartment/studio because of the fixed costs. After subtracting the utilities (and in Minneapolis, landlord usually pays at least water and garbage - $40-50/month), there is $300-$350 left. To get a reasonable ROI of 10% (before taxes), the value of the unit will be $300x12x10 - about $36,000, pretty low - and this estimate ignores vacancy, maintenance, taxes and insurance.

The OP may have better luck finding a private individual or family renting a portion of their house with a separate entry and a bathroom + sink/microwave. Here the motivation would be to get *some* extra income by renting out under-utilized space, and not get an expected ROI.

[Squeamish]

Thanks for the info. I know it's not what most of you are looking for, but given my lifestyle it just makes too much sense to live absolute bottom dollar. I've found a workable place for substantially less than $400, a little farther from work than I'd normally accept but for the extra money saved I can't complain. I honestly don't understand why more people don't go bottom dollar. It's what you do in life that counts, not where you live.

[pvoyd]

Originally Posted by Squeamish

Thanks for the info. I know it's not what most of you are looking for, but given my lifestyle it just makes too much sense to live absolute bottom dollar. I've found a workable place for substantially less than $400, a little farther from work than I'd normally accept but for the extra money saved I can't complain. I honestly don't understand why more people don't go bottom dollar. It's what you do in life that counts, not where you live.

Care to share what you found - what kind of housing (apartment, room, part of a house, etc.), area and cost?