18164 Highway 65 NE #141 · East Bethel, MN 55011

$150,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 28 Days on market

Built 2023 Good condition ↓ 6% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cedarwood Estates in East Bethel! This beautifully maintained 2023 Champion manufactured home offers 3 bedrooms, 2 bathrooms, and a bright open-concept layout designed for comfortable living. Enjoy the newer deck - perfect for relaxing or entertaining - along with attractive landscaping that adds great curb appeal. A convenient storage shed is included for extra storage space. This move-in ready home offers modern finishes and affordable living in a welcoming community setting!

Key facts

• Built 2023
• Listed 27 days

Property features AI

Finance

• Financial info: Conventional mortgage type
• HOA & community: Land is leased (land lease $545)

Exterior

• Parking: Concrete parking
• Utilities: Shared system and well water; City sewer (connected); Natural gas
• Home design: Manufactured home; One level; Entry level: One
• Construction: Pillar/post/pier foundation; Foundation dimensions 28 x 52; Roof age 8 years or less; Built with vinyl siding
• Exterior features: Vinyl exterior; Deck; Storage shed; Corner lot; Light tree coverage; Paved streets; Private maintained road

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen includes a dining area (Kitchen/Dining Room)
• Bedrooms: Primary bedroom on the main floor; Bedroom 2 (12'6" x 10'); Bedroom 3 (12'6" x 10'); Bedroom (12'6" x 13')
• Bathrooms: Full primary bath; Main floor full bath (2 full baths total)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Paneled doors; Kitchen window; Main floor primary suite; Main floor bedroom; Main floor laundry; 3 bedrooms on one level
• Laundry & utility: Washer; Dryer; Washer/Dryer hookup; Laundry room; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.2% in East Bethel — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#489 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• St. Francis Area Schools (rural): math 35% / reading 47% proficiency, ranked #185 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.50% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.17%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.55×
• Total profit: $22,915
• Equity at exit: $22,365

10-year hold

• IRR: 22.5%
• Equity multiple: 2.93×
• Total profit: $80,853
• Equity at exit: $12,969

Cash invested: $42,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55011

• Home prices YoY: -25.8%
• Active inventory: 97
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $741

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 62%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19025 Baltimore St NE Cedar, MN	2.0–3.0	1.5–2.5	1329	$2,250	$1.69	2d	38	1.00mi

Listing history 11 events

1. 2026-06-09
   days on market $150,000 Active 28 DOM
2. 2026-06-08
   days on market $150,000 Active 27 DOM
3. 2026-06-07
   days on market $150,000 Active 26 DOM
4. 2026-06-04
   days on market $150,000 Active 23 DOM
5. 2026-06-03
   days on market $150,000 Active 22 DOM
6. 2026-06-02
   days on market $150,000 Active 21 DOM
7. 2026-06-01
   days on market $150,000 Active 20 DOM
8. 2026-05-31
   days on market $150,000 Active 19 DOM
9. 2026-05-21
   price $150,000
10. 2026-05-13
    listed $160,000 Active
11. 2026-05-10
    historical $160,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$4,364
• Taxable income: $6,914
• Est. tax owed @ 24.0%: −$1,659
• After-tax cash flow: $7,231/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This move-in ready manufactured home in Cedarwood Estates offers a good condition with a well-maintained exterior and interior, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: St. Francis Area Schools
• NCES district ID: 2733540
• Math proficiency: 35% ▼ -22.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $78,137
• Composite: 37.97/100
• National rank: #4300
• State rank: #185 of 301 in MN

Livability — East Bethel

• Score: 66/100
• State rank: #489
• US rank: #11735

Category grades

Amenities F Commute F Cost of living C+ Crime A- Employment A+ Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Bethel, MN
• City population: 15,781
• Population (ZIP): 11,025

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.25%
• Current HPI: 265.1217
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

-6.2% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-10 Coming Soon $160,000 NORTHSTARMLS as Distributed by MLS Grid