541 Main St N · Greenbush, MN 56726

$59,900

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 43 Days on market

Built 1974 8,102 sqft 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Take a look and be pleasantly surprised to find a renovated mobile home inside. Experience an efficient, open-concept living room and kitchen with large windows, laminate floors and newer appliances. Two spacious bedrooms, one bath and laundry -- plus light-filled bonus addition -- round out this well-cared for property. This furnished (or not!) updated home is nestled on two serene tree-lined lots with an oversized garage. Though the owner is retiring to family in Colorado, she is sad to leave her little slice of Greenbush living.

Key facts

• 8,102 sq ft lot
• 2 garage spots
• Built 1974

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 140 on a 0.186-acre city-maintained lot with city street frontage
• Financial info: Taxes reported (annual): $282 (2026)

Exterior

• Parking: Detached or attached 2-car garage (26 x 36)
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Manufactured home; One level; Residential property
• Construction: Frame construction; Rubber roof; Pillar/post/pier foundation; Foundation area approximately 924; Built area above grade reported as 924
• Exterior features: Porch; Metal exterior

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dryer; Washer; Microwave; Range; Refrigerator; Rented fuel tank
• Laundry & utility: Washer and dryer; Propane fuel (tank rented)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#300 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: health & safety D+, crime D, amenities F.
• Greenbush-Middle River School District (rural): math 55% / reading 60% proficiency, ranked #186 of 467 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $817 of equity ($414 loan paydown + $403 appreciation (0.7% local appreciation)).
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.46% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.57%
• DSCR: 1.96
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.15×
• Total profit: $19,368
• Equity at exit: $19,433

10-year hold

• IRR: 26.2%
• Equity multiple: 4.08×
• Total profit: $51,677
• Equity at exit: $25,057

Cash invested: $16,772 (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 56726

• Home prices YoY: 0.7%
• Active inventory: 6
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $302

Break-even live

Break-even rent $493

Max offer price $59,900

Occupancy floor 61%

Sensitivity live

Price	-10% $335	-5% $318	+0% $302	+5% $285	+10% $268
Rent	-10% $232	-5% $267	+0% $302	+5% $336	+10% $371
Rate	-1.0pp $332	-0.5pp $317	base $302	+0.5pp $286	+1.0pp $270

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $59,900 Active 43 DOM
2. 2026-06-18
   days on market $59,900 Active 41 DOM
3. 2026-06-17
   days on market $59,900 Active 40 DOM
4. 2026-06-16
   days on market $59,900 Active 39 DOM
5. 2026-06-15
   days on market $59,900 Active 38 DOM
6. 2026-06-13
   days on market $59,900 Active 36 DOM
7. 2026-06-12
   days on market $59,900 Active 35 DOM
8. 2026-06-09
   days on market $59,900 Active 32 DOM
9. 2026-06-08
   days on market $59,900 Active 31 DOM
10. 2026-06-07
    days on market $59,900 Active 30 DOM
11. 2026-06-05
    days on market $59,900 Active 28 DOM
12. 2026-06-04
    days on market $59,900 Active 26 DOM
13. 2026-06-02
    days on market $59,900 Active 25 DOM
14. 2026-06-01
    days on market $59,900 Active 24 DOM
15. 2026-05-31
    days on market $59,900 Active 23 DOM
16. 2026-05-31
    days on market $59,900 Active 22 DOM
17. 2026-05-08
    listed $59,900 Active 405-char remark

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $638 · $53/mo
• Expected delta: +$32/yr (+$3/mo · 5.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,498
• − Mortgage interest: −$3,355
• − Property taxes: −$606
• − Insurance: −$300
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$1,743
• Taxable income: $2,815
• Est. tax owed @ 24.0%: −$676
• After-tax cash flow: $2,943/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: Greenbush-Middle River School District
• NCES district ID: 2700107
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $49,269
• Composite: 50.64/100
• National rank: #3947
• State rank: #186 of 467 in MN

Livability — Greenbush

• Score: 71/100
• State rank: #300
• US rank: #6590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenbush, MN
• Population (ZIP): 1,576

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Asian 4% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 41% Romanian 12% Scottish 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Vietnamese 1%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.67%
• Current HPI: 101.0623
• 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

1 event — show timeline

• 2026-05-08 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2026): $606 · +1.3% YoY. Source: county tax records.