100 Rose Park · Melrose, MN 56352

$115,000

3 bd · 2.0 ba · 1,153 sqft · SingleFamily · 24 Days on market

Built 2024 Good condition

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

Rose Park is a welcoming manufactured housing community located in the heart of Melrose, Minnesota — a charming small town known for its strong sense of community, excellent schools, and family-friendly atmosphere. Our neighborhood offers quiet streets, friendly neighbors, and an environment where families, retirees, and individuals can feel comfortable and connected. Residents enjoy the benefits of small-town living while still having convenient access to local shopping, dining, parks, healthcare, and recreation. Melrose is known for its highly regarded school system, safe neighborhoods, and active community events throughout the year. Whether you're raising a family, downsizing, or

Key facts

• Excellent schools
• Quiet streets
• Built 2024

Tags

• MANUFACTURED HOUSING COMMUNITY
• EXCELLENT SCHOOLS
• QUIET STREETS
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• CONVENIENT ACCESS TO PARKS

Property features AI

Finance

• Other: Above-grade living area approximately 1,153 square feet; Lot listed in acres
• HOA & community: Land lease of $535

Exterior

• Parking: Driveway with other surface; Additional/other parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential manufactured home; One level
• Construction: New construction; Built on a foundation
• Exterior features: Vinyl exterior; Located in a manufactured-home community (land is leased)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#164 in MN, #3,568 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Melrose Public School District (rural): math 45% / reading 50% proficiency, ranked #142 of 301 in MN (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $113,275 (1.5% below list)

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. 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?
3. 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.
4. 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.
5. 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: 1.50% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.32%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.2%
• Equity multiple: 4.08×
• Total profit: $99,087
• Equity at exit: $103,601

10-year hold

• IRR: 34.7%
• Equity multiple: 9.17×
• Total profit: $263,199
• Equity at exit: $223,420

Cash invested: $32,200 (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 56352

• Home prices YoY: 6.1%
• Active inventory: 31
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $572

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 62%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 W Railroad Ave Melrose, MN	1.0–3.0	1.0–2.0	950	$1,730	$1.82	43d	17	0.91mi

Listing history 18 events

1. 2026-06-18
   days on market $115,000 Active 24 DOM
2. 2026-06-17
   days on market $115,000 Active 23 DOM
3. 2026-06-16
   days on market $115,000 Active 22 DOM
4. 2026-06-15
   days on market $115,000 Active 21 DOM
5. 2026-06-13
   days on market $115,000 Active 19 DOM
6. 2026-06-12
   days on market $115,000 Active 18 DOM
7. 2026-06-09
   days on market $115,000 Active 15 DOM
8. 2026-06-08
   days on market $115,000 Active 14 DOM
9. 2026-06-07
   days on market $115,000 Active 13 DOM
10. 2026-06-07
    days on market $115,000 Active 12 DOM
11. 2026-06-04
    days on market $115,000 Active 9 DOM
12. 2026-06-02
    days on market $115,000 Active 8 DOM
13. 2026-06-01
    days on market $115,000 Active 7 DOM
14. 2026-05-31
    days on market $115,000 Active 6 DOM
15. 2026-05-31
    days on market $115,000 Active 5 DOM
16. 2026-05-25
    listed $115,000 Active
17. 2026-02-21
    historical
18. 2025-08-20
    listed $115,000 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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,760
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$3,345
• Taxable income: $5,351
• Est. tax owed @ 24.0%: −$1,284
• After-tax cash flow: $5,579/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 · 5 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a fresh exterior and interior. A fresh coat of paint and some landscaping would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Trim and landscape — Improves curb appeal and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Trim and landscape — Improves curb appeal and enhances property 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: Melrose Public School District
• NCES district ID: 2720550
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $55,833
• Composite: 41.26/100
• National rank: #3525
• State rank: #142 of 301 in MN

Livability — Melrose

• Score: 76/100
• State rank: #164
• US rank: #3568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melrose, MN
• Population (ZIP): 5,955

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Romanian 4% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 410.59
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-25 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-20 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid