305 Lark St · Sandstone, MN 55072

$149,000

3 bd · 2.0 ba · 1,825 sqft · SingleFamily public records

Built 1900 0.85 ac lot

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Why this score? — see what drove the D+ 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 +12.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.85 acre lot
• 3 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-10 ($-116/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.7% below list).
• Recommended offer: $129k (13.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#267 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools C-, employment D+, amenities D-.
• East Central School District (rural): math 33% / reading 40% proficiency, ranked #248 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 116 units permitted in Pine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Pine County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $97k; list at $149k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,607 (13.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.93×
• Total profit: $80,553
• Equity at exit: $134,231

10-year hold

• IRR: 21.4%
• Equity multiple: 6.70×
• Total profit: $237,731
• Equity at exit: $289,474

Cash invested: $41,720 (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 55072

• Home prices YoY: 12.9%
• Active inventory: 37
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-10

Break-even live

Break-even rent $1,298

Max offer price $147,299

Occupancy floor 96%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-20
   listed $149,000
2. 2026-05-20
   historical
3. 2018-09-14
   soldstatus $97,000
4. 2018-08-16
   historical
5. 2018-08-03
   price $99,900
6. 2018-07-24
   price $109,900
7. 2018-07-16
   listed $119,900 Active
8. 2003-06-12
   soldstatus $86,450

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

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $2,186 · $182/mo
• Projected year-2 tax: $2,186 · $182/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,433
• − Mortgage interest: −$8,346
• − Property taxes: −$2,186
• − Insurance: −$745
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$4,335
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $520/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.

Schools (NCES district)

• District: East Central School District
• NCES district ID: 2711085
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $41,790
• Composite: 30.78/100
• National rank: #6152
• State rank: #248 of 301 in MN

Livability — Sandstone

• Score: 72/100
• State rank: #267
• US rank: #5808

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandstone, MN
• Population (ZIP): 4,409

Population outlook (Pine County) Hauer SSP2

• Today (2025): 27,565 people
• By 2030: 26,567 · -3.6%
• By 2040: 23,878 · -13.4%
• By 2050: 20,931 · -24.1%
• By 2075: 15,372 · -44.2%
• By 2100: 11,032 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 7% Black 7% Two or more races 5% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 8% Romanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Pine

• 2024 margin: Solid R (+35.2) · D 31.6% · R 66.8% · Other 1.6%
• 2008→2024 swing: -36.7pp toward R · 2008: 1.5pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+30.2 2016: R+26.3 2012: R+0.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.97%
• Current HPI: 253.85
• 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

+72.4% since first listed

8 events — show timeline

• 2026-05-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-14 Sold (Public Records) $97,000 Public Records
• 2018-08-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-03 Price Changed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-24 Price Changed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-16 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-06-12 Sold (Public Records) $86,450 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,186 · +11.0% YoY. Source: county tax records.