6631 Rocky Point Rd NW · Roosevelt, MN 56673

$59,900

3 bd · 1.0 ba · 1,320 sqft · SingleFamily · 82 Days on market

Built 1973 Fair condition 8,712 sqft lot ↓ 33% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

A Fishermans Paradise! Come have a look at this nicely renovated home at Rockey Point! The property offer 3 bedrooms, 1 bath, a spacious addition and a perfect place to tell the stories of the big one that got away! Property is on a rented lot and is ready for a new owner! Give us a call for more information.

Key facts

• Spacious addition
• 8,712 sq ft lot
• Built 1973

Tags

• NICELY RENOVATED HOME
• SPACIOUS ADDITION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#554 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, schools D-.
• Lake Of The Woods School District (rural): math 30% / reading 39% proficiency, ranked #259 of 301 in MN (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 13 units permitted in Lake of the Woods County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($414 loan paydown + $3k appreciation (5.0% local appreciation)).
• Lake of the Woods County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 2.11% ✓
• Cap rate: 17.99%
• Cash-on-cash: 41.79%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.9%
• Equity multiple: 4.03×
• Total profit: $50,891
• Equity at exit: $33,803

10-year hold

• IRR: 47.8%
• Equity multiple: 8.26×
• Total profit: $121,794
• Equity at exit: $58,223

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 56673

• Home prices YoY: 3.5%
• Active inventory: 9
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $584

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 49%

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 18 events

1. 2026-05-11
   status Pending 310-char remark

   Show marketing remark (310 chars)

   A Fishermans Paradise! Come have a look at this nicely renovated home at Rockey Point! The property offer 3 bedrooms, 1 bath, a spacious addition and a perfect place to tell the stories of the big one that got away! Property is on a rented lot and is ready for a new owner! Give us a call for more information.

2. 2026-05-02
   price $59,900 310-char remark

   Show marketing remark (310 chars)

   A Fishermans Paradise! Come have a look at this nicely renovated home at Rockey Point! The property offer 3 bedrooms, 1 bath, a spacious addition and a perfect place to tell the stories of the big one that got away! Property is on a rented lot and is ready for a new owner! Give us a call for more information.

3. 2026-02-18
   listed $65,000 Active 310-char remark

   Show marketing remark (310 chars)

   A Fishermans Paradise! Come have a look at this nicely renovated home at Rockey Point! The property offer 3 bedrooms, 1 bath, a spacious addition and a perfect place to tell the stories of the big one that got away! Property is on a rented lot and is ready for a new owner! Give us a call for more information.

4. 2025-11-25
   historical
5. 2025-09-07
   price $64,900
6. 2025-08-26
   price $69,900
7. 2025-08-13
   price $74,900
8. 2025-07-11
   price $79,900
9. 2025-07-02
   price $82,900
10. 2025-05-28
    price $87,900
11. 2025-05-10
    price $89,900
12. 2025-04-29
    price $94,900
13. 2025-04-16
    price $99,900
14. 2025-02-20
    listed $105,000 Active
15. 2021-02-25
    price $84,900
16. 2020-08-03
    soldstatus $70,000 Sold
17. 2020-06-13
    historical
18. 2020-04-29
    listed $90,000 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,160
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$1,743
• Taxable income: $6,438
• Est. tax owed @ 24.0%: −$1,545
• After-tax cash flow: $5,463/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

Fair 45/100 Cosmetic rehab

A nicely renovated home with some cosmetic updates needed to enhance its curb appeal and resale value.

Repairs flagged

• Minor Paint — Light wear on interior walls
• Minor Siding — Light wear

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Paint exterior siding — Enhances curb appeal and exterior aesthetics
• Both Replace carpet with hardwood — Improves resale value and rental appeal
• Both Replace standard appliances with modern ones — Modernizes kitchen and improves resale value
• Both Replace standard windows with energy-efficient ones — Improves energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Light wear on interior walls	Minor	$500–3,000
Siding · Light wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Paint exterior siding — Enhances curb appeal and exterior aesthetics ↑
• Both Replace carpet with hardwood — Improves resale value and rental appeal ↑
• Both Replace standard appliances with modern ones — Modernizes kitchen and improves resale value ↑
• Both Replace standard windows with energy-efficient ones — Improves energy efficiency and curb appeal ↑

ⓘ 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: Lake Of The Woods School District
• NCES district ID: 2717570
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $45,937
• Composite: 29.52/100
• National rank: #6498
• State rank: #259 of 301 in MN

Livability — Roosevelt

• Score: 65/100
• State rank: #554
• US rank: #13317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 608

Population outlook (Lake of the Woods County) Hauer SSP2

• Today (2025): 3,706 people
• By 2030: 3,565 · -3.8%
• By 2040: 3,224 · -13.0%
• By 2050: 2,957 · -20.2%
• By 2075: 2,685 · -27.5%
• By 2100: 2,544 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Portuguese 17% Lithuanian 7% Scottish 5%
• Languages at home: 97% English-only · Russian/Polish/Slavic 3%

Political lean MEDSL · Lake of the Woods

• 2024 margin: Solid R (+47.1) · D 25.8% · R 72.9% · Other 1.4%
• 2008→2024 swing: -33.9pp toward R · 2008: -13.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+42.9 2016: R+44.3 2012: R+20.1 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.96%
• Current HPI: 146.8293
• 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

-33.4% since first listed

18 events — show timeline

• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Price Changed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-18 Listed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-07 Price Changed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-26 Price Changed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-13 Price Changed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-11 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $82,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $87,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-10 Price Changed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-29 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-16 Price Changed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-20 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-25 Price Changed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-03 Sold (MLS) $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-29 Listed $90,000 NORTHSTARMLS as Distributed by MLS Grid