6055 Kalland Dr NE · Albertville, MN 55301

$350,000

3 bd · 2.0 ba · 1,650 sqft · SingleFamily public records · 13 Days on market

Built 1990 9,016 sqft lot $212/sqft · 6% below area Est $373k · 6% under

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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).

• ARV discount +10.3/15.0
• Cash flow +9.4/30.0
• Schools +5.8/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this charming home now on the market! This home has partial flooring replacement . Discover a bright and open interior with plenty of natural light and a neutral color palette, complimented by a fireplace. Step into the kitchen, complete with an eye catching stylish backsplash. Head to the spacious primary suite with good layout and closet included. Extra bedrooms add nice flex space for your everyday needs. The primary bathroom features plenty of under sink storage waiting for your home organization needs. The back yard is the perfect spot to kick back with the included sitting area. Hurry, this won’t last long! This home has been virtually staged to illustrate its potential.

Key facts

• 9,016 sq ft lot
• 2 garage spots
• Built 1990

Property features AI

Finance

• Other: Above grade finished area listed as 966; Below grade finished area listed as 684; Total living area listed as 1,650; Total building area listed as 1,932

Exterior

• Parking: Attached garage with garage door opener (2 garage spaces, concrete floor)
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential split entry (bi-level); Entry on main level
• Construction: Block and frame construction; Asphalt roof (age 8 years or less); Block foundation
• Exterior features: Vinyl exterior; Deck; Irregular lot with light tree coverage; City street frontage with paved streets, street lights and storm sewer; Publicly maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen window
• Bedrooms: 3 bedrooms (main/upper and lower levels indicated in room list)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms (one on upper level, one in full finished basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished daylight/lookout basement; Main floor foyer; Deck; Hardwood floors; Kitchen window; Primary bedroom with walk-in closet; Walk-in closet(s); Gas fireplace in family room
• Laundry & utility: Washer and dryer included; Laundry located in lower level/basement; 11x11 utility room in lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (26.6% below list).
• Recommended offer: $257k (26.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#206 in MN, #4,356 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities D, commute F.
• St. Michael-Albertville School District (rural): math 62% / reading 66% proficiency, ranked #17 of 301 in MN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Fieldstone Elementary School (math 76% / reading 67%, grade A-, #58 of 857 statewide, top 7%, 596 students, 24% FRL); St. Michael-Albertville Middle West (math 55% / reading 62%, grade B, #29 of 258 statewide, top 12%, 1,047 students, 21% FRL); St. Michael-Albertville Senior High (math 60% / reading 71%, grade B, #27 of 471 statewide, top 6%, 2,240 students, 17% FRL).
• Market conditions: 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Recommended offer $256,766 (26.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 0.73% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.07%
• DSCR: 0.86
• GRM: 11.4

CMA / ARV

• ARV (median comp): $372,872
• List price: $350,000
• Delta: -6.13%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-72,716
• Equity at exit: $52,186

10-year hold

• IRR: -15.1%
• Equity multiple: 0.14×
• Total profit: $-84,054
• Equity at exit: $30,262

Cash invested: $98,000 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 143
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,568 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$298 /mo · $3,572/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-250

Break-even live

Break-even rent $2,885

Max offer price $305,750

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-151	+0% $-250	+5% $-350	+10% $-449
Rent	-10% $-453	-5% $-352	+0% $-250	+5% $-149	+10% $-48
Rate	-1.0pp $-74	-0.5pp $-161	base $-250	+0.5pp $-341	+1.0pp $-433

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10740 County Road 37 NE Albertville, MN	2.0–3.0	1.0–2.0	1092	$1,740	$1.59	0d	4	0.29mi
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,269	$1.58	0d	7	1.02mi
433 1st St NW Saint Michael, MN	4.0	2.0	1830	$2,669	$1.46	5d	1	1.38mi

Listing history 10 events

1. 2026-05-07
   status Pending 1198-char remark
2. 2026-05-04
   historical Contingent - Inspection 1198-char remark
3. 2026-04-25
   listed $350,000 Active 1198-char remark
4. 2026-04-24
   historical $350,000 1198-char remark
5. 2023-06-20
   soldstatus $330,000
6. 2023-06-02
   soldstatus $330,000 Sold 700-char remark

   Show marketing remark (700 chars)

   Come see this charming home now on the market! This home has partial flooring replacement . Discover a bright and open interior with plenty of natural light and a neutral color palette, complimented by a fireplace. Step into the kitchen, complete with an eye catching stylish backsplash. Head to the spacious primary suite with good layout and closet included. Extra bedrooms add nice flex space for your everyday needs. The primary bathroom features plenty of under sink storage waiting for your home organization needs. The back yard is the perfect spot to kick back with the included sitting area. Hurry, this won’t last long! This home has been virtually staged to illustrate its potential.

7. 2023-05-17
   status Pending 700-char remark

   Show marketing remark (700 chars)

   Come see this charming home now on the market! This home has partial flooring replacement . Discover a bright and open interior with plenty of natural light and a neutral color palette, complimented by a fireplace. Step into the kitchen, complete with an eye catching stylish backsplash. Head to the spacious primary suite with good layout and closet included. Extra bedrooms add nice flex space for your everyday needs. The primary bathroom features plenty of under sink storage waiting for your home organization needs. The back yard is the perfect spot to kick back with the included sitting area. Hurry, this won’t last long! This home has been virtually staged to illustrate its potential.

8. 2023-05-16
   listed $333,000 Active 700-char remark

   Show marketing remark (700 chars)

   Come see this charming home now on the market! This home has partial flooring replacement . Discover a bright and open interior with plenty of natural light and a neutral color palette, complimented by a fireplace. Step into the kitchen, complete with an eye catching stylish backsplash. Head to the spacious primary suite with good layout and closet included. Extra bedrooms add nice flex space for your everyday needs. The primary bathroom features plenty of under sink storage waiting for your home organization needs. The back yard is the perfect spot to kick back with the included sitting area. Hurry, this won’t last long! This home has been virtually staged to illustrate its potential.

9. 2023-05-03
   soldstatus $298,400
10. 2023-05-03
    soldstatus $275,909

ⓘ 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: $3,572 · $298/mo
• Projected year-2 tax: $3,746 · $312/mo
• Expected delta: +$174/yr (+$14/mo · 4.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,812
• − Mortgage interest: −$19,605
• − Property taxes: −$3,572
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − Depreciation: −$10,182
• Taxable loss: −$9,227
• Est. tax savings @ 24.0%: +$2,215
• After-tax cash flow: $-791/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: St. Michael-Albertville School District
• NCES district ID: 2733790
• Math proficiency: 62% ▼ -13.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $86,897
• Composite: 57.91/100
• National rank: #1042
• State rank: #17 of 301 in MN

Livability — Albertville

• Score: 75/100
• State rank: #206
• US rank: #4356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albertville, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+17.3% since first listed

10 events — show timeline

• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Coming Soon $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-20 Sold (Public Records) $330,000 Public Records
• 2023-06-02 Sold (MLS) $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-16 Listed $333,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-03 Sold (Public Records) $275,909 Public Records
• 2023-05-03 Sold (MLS) $298,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $3,572 · -0.9% YoY. Source: county tax records.