35308 Vacation Dr #24 · Ideal, MN 56472

$50,000

3 bd · 4.0 ba · 2,262 sqft · Townhouse · 299 Days on market

Built 2008 12 ac lot $351/mo HOA · 27% of rent

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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
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Now available - Share 6 - prime July summer week plus 4 additional weeks to enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Do not miss this prime summer opportunity - Share 6 (1/10th ownership $50,000) sold turn-key -- fully furnished and equipped!

Key facts

• Dock space
• Fire pit
• Sand beach

Tags

• DOCK SPACE
• SAND BEACH
• FIRE PIT
• MANICURED GROUNDS

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pequot Lakes Public Schools (rural): math 40% / reading 57% proficiency, ranked #137 of 301 in MN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 272 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% 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 $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 2.58% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.77%
• DSCR: 2.24
• GRM: 3.2

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: 22.2%
• Equity multiple: 1.91×
• Total profit: $12,767
• Equity at exit: $7,455

10-year hold

• IRR: 30.4%
• Equity multiple: 3.76×
• Total profit: $38,642
• Equity at exit: $4,323

Cash invested: $14,000 (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 56472

• Home prices YoY: -10.7%
• Active inventory: 272
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$351
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $324

Break-even live

Break-even rent $882

Max offer price $50,000

Occupancy floor 70%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $351 · $4,212/yr
• Likely covers: waterlandscaping

Listing history 32 events

1. 2026-06-18
   days on market $50,000 Active 299 DOM
2. 2026-06-17
   days on market $50,000 Active 298 DOM
3. 2026-06-16
   days on market $50,000 Active 297 DOM
4. 2026-06-15
   days on market $50,000 Active 296 DOM
5. 2026-06-13
   days on market $50,000 Active 294 DOM
6. 2026-06-12
   days on market $50,000 Active 293 DOM
7. 2026-06-09
   days on market $50,000 Active 290 DOM
8. 2026-06-08
   days on market $50,000 Active 289 DOM
9. 2026-06-07
   days on market $50,000 Active 288 DOM
10. 2026-06-07
    days on market $50,000 Active 287 DOM
11. 2026-06-04
    days on market $50,000 Active 284 DOM
12. 2026-06-02
    days on market $50,000 Active 283 DOM
13. 2026-06-01
    days on market $50,000 Active 282 DOM
14. 2026-05-31
    days on market $50,000 Active 281 DOM
15. 2026-05-31
    days on market $50,000 Active 280 DOM
16. 2025-12-31
    price $50,000 1102-char remark

    Show marketing remark (1102 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Now available - Share 6 - prime July summer week plus 4 additional weeks to enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Do not miss this prime summer opportunity - Share 6 (1/10th ownership $50,000) sold turn-key -- fully furnished and equipped!

17. 2025-12-31
    price $54,900 1102-char remark

    Show marketing remark (1102 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Now available - Share 6 - prime July summer week plus 4 additional weeks to enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Do not miss this prime summer opportunity - Share 6 (1/10th ownership $50,000) sold turn-key -- fully furnished and equipped!

18. 2025-12-23
    price $50,000 1102-char remark

    Show marketing remark (985 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Each share (1/10th ownership $54,900) sold turn-key -- fully furnished and equipped!

19. 2025-12-23
    price $50,000 985-char remark

    Show marketing remark (985 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Each share (1/10th ownership $54,900) sold turn-key -- fully furnished and equipped!

20. 2025-08-23
    historical
21. 2025-08-22
    listed $54,900 Active 985-char remark

    Show marketing remark (985 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Each share (1/10th ownership $54,900) sold turn-key -- fully furnished and equipped!

22. 2025-08-19
    listed $54,900 Active 1102-char remark

    Show marketing remark (1102 chars)

    Welcome to Resort Style Vacation Ownership on Clamshell Lake of the Whitefish Chain! Now available - Share 6 - prime July summer week plus 4 additional weeks to enjoy true maintenance free living in the Loon Cottage - beautiful and exceptionally cared for unit at Clamshell Beach Resort. All utilities, taxes and fees are covered in your annual dues. When you are not enjoying the benefits of lake life, allow others to rent your lake home and reap the financial benefits! Convenient location in the heart of the Lakes Area and all the amenities of a large resort, but with a small town vibe. Amazing sand beach, dock space, water toys, fire pit for memorable campfires for the whole crew, and plenty of water to explore - 14,000 acres of the Whitefish Chain! Lakes Area golf courses are within close proximity to test your skills! Enjoy the expansive manicured grounds and the entire Whitefish Chain - finish the days' activities and relax to your beautiful home on the lake! Do not miss this prime summer opportunity - Share 6 (1/10th ownership $50,000) sold turn-key -- fully furnished and equipped!

23. 2025-02-21
    listed $60,000 Active
24. 2025-02-12
    historical
25. 2024-12-19
    price $60,000
26. 2024-08-23
    price $75,000
27. 2023-01-23
    listed $89,000 Active
28. 2022-11-16
    soldstatus $89,000 Sold
29. 2022-08-29
    listed $89,000 Active
30. 2021-01-04
    historical
31. 2020-06-10
    price $699,000
32. 2020-03-05
    listed $750,000 Active

ⓘ 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: $15,501
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − HOA: −$4,212
• − Depreciation: −$1,455
• Taxable income: $3,554
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $3,035/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: Pequot Lakes Public Schools
• NCES district ID: 2728200
• Math proficiency: 40% ▼ -24.00%
• Reading proficiency: 57% ▼ -13.00%
• Median HH income: $51,513
• Composite: 41.62/100
• National rank: #3430
• State rank: #137 of 301 in MN

Livability — Ideal

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 8,764

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 17% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.90%
• Current HPI: 208.0163
• 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

-93.3% since first listed

17 events — show timeline

• 2025-12-31 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-31 Price Changed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-23 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-23 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-22 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-19 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-21 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-19 Price Changed $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-23 Price Changed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-23 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-16 Sold (MLS) $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-29 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-10 Price Changed $699,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-05 Listed $750,000 NORTHSTARMLS as Distributed by MLS Grid