27135 Trout Lake Rd · Coleraine, MN 55709

$125,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 10 Days on market

Built 1996 1.98 ac lot

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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 +24.7/30.0
• Appreciation +9.4/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country setting minutes to Grand Rapids. Includes Schultz 3 BR 2 bath mobile home built in 1996 with 2 detached garages and additional shed. There's a 13 x 20 unfinished cellar which houses the water softener and sump (which will need to bereplaced in the spring). Home is in good condition with A/C and 2 x 6 construction, drilled well. Sold As-Is

Key facts

• Outdoor storage
• Huge stone fire ring
• Partial basement

Tags

• OUTDOOR STORAGE
• HUGE STONE FIRE RING
• BACK DECK
• MAIN-LEVEL LAUNDRY
• MUD ROOM ADDITION
• PARTIAL BASEMENT

Property features AI

Exterior

• Parking: Detached 2-car garage (24 x 26, 7' high door, 16' wide door)
• Utilities: Private well with 4-inch submersible/drilled well; Private sewer; 100 amp electric service (Lake Country Power); Propane fuel
• Home design: Residential property; Manufactured home; One level; Entry level: Main
• Construction: Built with other construction materials; Asphalt roof; Foundation includes block and crawl space; partial basement; Foundation dimensions approximately 16 x 72
• Exterior features: Vinyl exterior; Deck and porch; Storage shed; Medium tree coverage

Interior

• Kitchen: Kitchen with dishwasher
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom with walk-through to primary bathroom
• Bathrooms: 2 full bathrooms; Main floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Deck and porch; Kitchen/dining combined; Dishwasher
• Laundry & utility: Laundry located in hall; Utility room on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 65/100 on livability (#552 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety D, amenities F, commute F.
• Greenway Public School District (rural): math 40% / reading 47% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($864 loan paydown + $11k appreciation (8.9% local appreciation)).
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $65k; list at $125k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $125,000

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. 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.
3. 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.
4. 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: 1.14% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 3.15×
• Total profit: $75,171
• Equity at exit: $102,392

10-year hold

• IRR: 25.3%
• Equity multiple: 6.90×
• Total profit: $206,428
• Equity at exit: $210,771

Cash invested: $35,000 (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 55709

• Home prices YoY: 3.4%
• Active inventory: 29
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $262

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 77%

Sensitivity live

Price	-10% $348	-5% $305	+0% $262	+5% $219	+10% $175
Rent	-10% $149	-5% $206	+0% $262	+5% $318	+10% $374
Rate	-1.0pp $325	-0.5pp $294	base $262	+0.5pp $229	+1.0pp $196

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-19
   status Pending
2. 2026-05-10
   historical Contingent - Subject to Financing
3. 2026-05-09
   listed $125,000 Active
4. 2020-11-30
   soldstatus $65,000
5. 2020-03-10
   soldstatus $60,100
6. 2020-02-28
   soldstatus $60,100 Sold 348-char remark

   Show marketing remark (348 chars)

   Country setting minutes to Grand Rapids. Includes Schultz 3 BR 2 bath mobile home built in 1996 with 2 detached garages and additional shed. There's a 13 x 20 unfinished cellar which houses the water softener and sump (which will need to bereplaced in the spring). Home is in good condition with A/C and 2 x 6 construction, drilled well. Sold As-Is

7. 2020-02-14
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Country setting minutes to Grand Rapids. Includes Schultz 3 BR 2 bath mobile home built in 1996 with 2 detached garages and additional shed. There's a 13 x 20 unfinished cellar which houses the water softener and sump (which will need to bereplaced in the spring). Home is in good condition with A/C and 2 x 6 construction, drilled well. Sold As-Is

8. 2020-01-01
   listed $75,000 Active 348-char remark

   Show marketing remark (348 chars)

   Country setting minutes to Grand Rapids. Includes Schultz 3 BR 2 bath mobile home built in 1996 with 2 detached garages and additional shed. There's a 13 x 20 unfinished cellar which houses the water softener and sump (which will need to bereplaced in the spring). Home is in good condition with A/C and 2 x 6 construction, drilled well. Sold As-Is

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 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: $17,099
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$3,636
• Taxable income: $1,225
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $2,848/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: Greenway Public School District
• NCES district ID: 2709480
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $46,178
• Composite: 37.01/100
• National rank: #4520
• State rank: #196 of 301 in MN

Livability — Coleraine

• Score: 65/100
• State rank: #552
• US rank: #13276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,037
• Population (ZIP): 4,314

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5%
• Common ancestry: Portuguese 14% Lithuanian 4% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.86%
• Current HPI: 270.88
• 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

+66.7% since first listed

8 events — show timeline

• 2026-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-30 Sold (Public Records) $65,000 Public Records
• 2020-03-10 Sold (Public Records) $60,100 Public Records
• 2020-02-28 Sold (MLS) $60,100 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-01 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+0.3%/yr

Latest (2026): $248 · -2.4% YoY. Source: county tax records.