36899 County Road 322 · Cohasset, MN 55721

$79,900

3 bd · 1.0 ba · 1,271 sqft · SingleFamily · 4 Days on market

Built 2026 Poor condition 1.00 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in a desirable location! Situated on a great lot, this property offers excellent potential for renovation. The home is in need of substantial rehabilitation and is being sold as-is. Bring your vision and ideas to unlock the possibilities this property has to offer.

Key facts

• 1 acre lot
• Built 2026
• Listed 3 days

Property features AI

Finance

• Other: Lot about 1 acre (approx. dimensions 165 x 262)
• Financial info: $99 annual tax (2026)

Exterior

• Parking: Driveway with other surface
• Utilities: Well water; Septic system (not compliant); Oil fuel
• Home design: Residential property; Two levels; Entry level: main level and lower level
• Construction: Block foundation
• Exterior features: Vinyl exterior

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.4% vs local median 1.1% in Cohasset — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#398 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, schools A-; Watch: health & safety C-, amenities F, commute F.
• Grand Rapids Public School District (town): math 46% / reading 55% proficiency, ranked #119 of 301 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $79,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.9%
• Equity multiple: 1.39×
• Total profit: $8,735
• Equity at exit: $11,913

10-year hold

• IRR: 19.0%
• Equity multiple: 2.59×
• Total profit: $35,573
• Equity at exit: $6,908

Cash invested: $22,372 (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 55721

• Active inventory: 29
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $340

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 65%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $79,900 Active 4 DOM
2. 2026-06-18
   days on market $79,900 Active 3 DOM
3. 2026-06-17
   days on market $79,900 Active 2 DOM
4. 2026-06-15
   remarks 286-char remark
5. 2026-06-15
   listed $79,900 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $13,554
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$2,324
• Taxable income: $2,988
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $3,365/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property presents a significant investment opportunity with extensive rehabilitation needed. The home's potential is high, but the current state is a major deterrent to immediate resale or rental value.

Repairs flagged

• Major roof — Visible damage and potential leaks
• Major exterior siding — Peeling paint and general disrepair
• Major flooring — Damaged and worn-out
• Major interior walls/paint — Peeling paint and general wear
• Major kitchen cabinets — Outdated and in need of replacement
• Major bathroom fixtures — Dirty and outdated

Value-add opportunities

• Both Exterior landscaping and curb appeal — Improves both resale and rental value
• Both Kitchen and bathroom updates — Modernizing these areas significantly boosts value
• Both Roof repair — Essential for both safety and value
• Both Interior paint and flooring — Enhances the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Visible damage and potential leaks	Major	$15,000–50,000
exterior siding · Peeling paint and general disrepair	Major	$15,000–50,000
flooring · Damaged and worn-out	Major	$15,000–50,000
interior walls/paint · Peeling paint and general wear	Major	$15,000–50,000
kitchen cabinets · Outdated and in need of replacement	Major	$15,000–50,000
bathroom fixtures · Dirty and outdated	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Exterior landscaping and curb appeal — Improves both resale and rental value ↑
• Both Kitchen and bathroom updates — Modernizing these areas significantly boosts value ↑
• Both Roof repair — Essential for both safety and value ↑
• Both Interior paint and flooring — Enhances the home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Grand Rapids Public School District
• NCES district ID: 2713170
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $49,762
• Composite: 43.14/100
• National rank: #3077
• State rank: #119 of 301 in MN

Livability — Cohasset

• Score: 68/100
• State rank: #398
• US rank: #9364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,840
• Population (ZIP): 3,840

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 3% Native American 3%
• Common ancestry: Lithuanian 12% Portuguese 10% Italian 5%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 2% Russian/Polish/Slavic 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: ▼ -93.56%
• Current HPI: 164.1692
• 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

• 2026-06-15 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid