7048 Mackenzie Ct NE · Otsego, MN 55330

$480,990

5 bd · 4.0 ba · 2,513 sqft · Other · 11 Days on market

Built 2026 0.27 ac lot $191/sqft · 11% below area Est $539k · 11% 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 +12.4/15.0
• Cash flow +8.2/30.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Ask how you can receive a 5.50% Conventional or 4.99% Government 30 yr fixed rate mortgage PLUS up to $5,000 in closing costs on this home! The Cameron II is a 5-bedroom home that features an amazing kitchen layout with large center island and corner walk-in pantry. The kitchen is highlighted by subway tile backsplash, quartz countertops and stainless steel appliances. Not to mention the main level eye catcher - vaulted ceilings! Primary bedroom features MASSIVE walk-in closet and executive height, double vanity in the primary ensuite bathroom. 5th bedroom located on the main level features decorative French doors. AND the FINISHED WALKOUT basement features an amazing back yard with pond vi

Key facts

• Quartz countertops
• Large center island
• Vaulted ceilings

Tags

• LARGE CENTER ISLAND
• CORNER WALK-IN PANTRY
• SUBWAY TILE BACKSPLASH
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• VAULTED CEILINGS

Property features AI

Finance

• HOA & community: Builders Association of the Twin Cities membership

Exterior

• Parking: Attached garage with garage door opener; 3 garage spaces; Asphalt driveway; 7-foot garage door height
• Utilities: City water connected; City sewer connected; 200+ amp electrical service; Natural gas
• Home design: Residential property; Three-level split; New construction; Pitched asphalt roof (age 8 years or less); Entry facing front (front porch)
• Construction: Built by D.R. Horton; Poured concrete foundation; Foundation area 1,856 (above grade finished area 1,856); Below-grade finished area and total basement space with finished area
• Exterior features: Covered front porch; Porch; In-ground sprinkler system; Stone and vinyl exterior; Corner lot; Irregular lot; Sod included; City street frontage; Cul-de-sac access; Curbs and paved streets; Public maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Disposal; Stainless steel appliances
• Bedrooms: 5 bedrooms total; Primary bedroom (private primary) on main level; Bedroom (Upper) 15x13; Bedroom 2 (Upper) 12x11; Bedroom 3 (Upper) 12x10; Bedroom 4 (Lower) 13x13; Bedroom 5 (Main) 14x11
• Bathrooms: 2 full baths; 1 three-quarter bath; 1 half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Primary bedroom suite; Private primary bathroom; Bathroom ensuite; Kitchen center island; Kitchen window; Eat-in kitchen / informal dining area; Living/dining room combination; Walk-in closet(s); Storage space; Finished basement; Walkout basement; Drain-tiled basement; Sump pump; Electric fireplace in living room; ENERGY STAR qualified appliances; Air-to-air exchanger; Humidifier; Tankless water heater; Gas water heater; Exhaust fan; Double sink in primary; 3/4 primary bath; Main floor half bath; Upper level full bath; Walk-in shower stall
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in basement / lower level

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath other listed at $481k.

Deal economics

• At list price, monthly cash flow is $-458 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $400k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (37.9% below list).
• Recommended offer: $299k (37.9% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 4.0% in Otsego — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 453 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 31% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $298,556 (37.9% 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 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?
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: 0.62% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.08%
• DSCR: 0.82
• GRM: 13.4

CMA / ARV

• ARV (median comp): $539,443
• List price: $480,990
• Delta: -10.84%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.3%
• Equity multiple: 0.20×
• Total profit: $-107,348
• Equity at exit: $71,717

10-year hold

• IRR: -18.1%
• Equity multiple: 0.02×
• Total profit: $-132,083
• Equity at exit: $41,587

Cash invested: $134,677 (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 55330

• Active inventory: 453
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,986 medium
• Mortgage (P&I): −$2,522
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $-458

Break-even live

Break-even rent $3,565

Max offer price $400,168

Occupancy floor —

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: $120,248
• Closing costs: $14,430
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7535 Lannon Ave NE Albertville, MN	5.0	3.0	2209	$3,179	$1.44	1d	1	0.60mi

Listing history 10 events

1. 2026-05-09
   status Pending 950-char remark
2. 2026-05-05
   status Active 950-char remark
3. 2026-05-05
   status Pending 950-char remark
4. 2026-04-28
   listed $480,990 Active 950-char remark
5. 2026-04-28
   historical
6. 2026-03-30
   price $483,990
7. 2026-03-16
   price $489,990
8. 2026-02-09
   price $494,850
9. 2026-01-28
   listed $535,000 Active
10. 2023-11-03
    soldstatus $1,680,000

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $3,254 · $271/mo
• Expected delta: +$2,134/yr (+$178/mo · 190.5%)

ⓘ 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 1/10 Low
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,827
• − Mortgage interest: −$26,943
• − Property taxes: −$1,120
• − Insurance: −$2,405
• − Repairs & maintenance: −$2,866
• − Management: −$2,866
• − Depreciation: −$13,992
• Taxable loss: −$14,366
• Est. tax savings @ 24.0%: +$3,448
• After-tax cash flow: $-2,042/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Sherburne County · 120,363 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,721
• Household income: $115,761
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 285.0

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% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 13% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

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: ▼ -173.46%
• Current HPI: 241.3028
• 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

-71.4% since first listed

10 events — show timeline

• 2026-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Listed $480,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $483,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $489,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $494,850 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-28 Listed $535,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-03 Sold (Public Records) $1,680,000 Public Records

Property tax history

+219.1%/yr

Latest (2025): $1,120 · +311.8% YoY. Source: county tax records.