11829 71st St NE · Otsego, MN 55301

$415,000

4 bd · 3.0 ba · 2,344 sqft · SingleFamily public records · 50 Days on market

Built 2021 9,496 sqft lot $177/sqft · 10% below area Est $464k · 10% under $76/mo HOA · 2% of rent ↓ 9% since listing

---

Why this score? — see what drove the D+ 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 +14.0/30.0
• ARV discount +12.2/15.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully designed 4 bedroom, 3 bath home in the highly sought after Martin Farm neighborhood of Otsego. From the moment you step inside, you’re greeted by soaring vaulted ceilings that create a bright, open feel throughout the main level. A versatile flex room near the entry provides the perfect space for a home office, playroom, or additional sitting area. The heart of the home is the stunning kitchen, featuring crisp white perimeter cabinets, a contrasting stained center island, elegant quartz countertops, and a classic subway tile backsplash. The kitchen flows seamlessly into the dining area and spacious living room, making it ideal for both everyday living and e

Key facts

• 9,496 sq ft lot
• 3 garage spots
• Built 2021

Property features AI

Finance

• Other: Living area reported as 2,344 sq ft; main level finished area noted
• HOA & community: Homeowners association present (named Assoicia) with a $76 monthly fee covering professional management and shared amenities

Exterior

• Parking: Attached 3-car garage (approximately 30 x 21)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Three-level split design; Block foundation
• Construction: Foundation area listed; Above-grade finished living area and below-grade finished area present
• Exterior features: Stone and vinyl exterior; Lot approximately 0.218 acres (dimensions 60 x 156 x 60 x 155)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (primary suite on the upper level; additional bedrooms on upper and lower levels)
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; One fireplace
• Laundry & utility: Main-level office and a lower-level laundry room; Utility room on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $415k.

Deal economics

• At list price, monthly cash flow is $53 ($641/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $360k (13.3% below list).
• Recommended offer: $360k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Otsego — 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 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 33% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $359,917 (13.3% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 13% 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.87% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 9.6

CMA / ARV

• ARV (median comp): $463,532
• List price: $415,000
• Delta: -10.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-63,837
• Equity at exit: $61,878

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-51,178
• Equity at exit: $35,882

Cash invested: $116,200 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,599 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$365 /mo · $4,376/yr
• Insurance: −$173
• HOA: −$76
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $53

Break-even live

Break-even rent $3,532

Max offer price $415,000

Occupancy floor 94%

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7535 Lannon Ave NE Albertville, MN	5.0	3.0	2209	$3,179	$1.44	1d	1	0.58mi
11193 68th St NE Unit NA Albertville, MN	3.0	3.0	2644	$3,250	$1.23	1d	1	0.77mi

HOA detail

• Monthly dues: $76 · $912/yr

Listing history 23 events

1. 2026-06-18
   days on market $415,000 Active 50 DOM
2. 2026-06-17
   days on market $415,000 Active 49 DOM
3. 2026-06-16
   days on market $415,000 Active 48 DOM
4. 2026-06-15
   days on market $415,000 Active 47 DOM
5. 2026-06-13
   days on market $415,000 Active 45 DOM
6. 2026-06-13
   days on market $415,000 Active 44 DOM
7. 2026-06-09
   days on market $415,000 Active 41 DOM
8. 2026-06-08
   days on market $415,000 Active 40 DOM
9. 2026-06-07
   days on market $415,000 Active 39 DOM
10. 2026-06-04
    days on market $415,000 Active 36 DOM
11. 2026-06-03
    days on market $415,000 Active 35 DOM
12. 2026-06-02
    days on market $415,000 Active 34 DOM
13. 2026-06-01
    days on market $415,000 Active 33 DOM
14. 2026-05-31
    days on market $415,000 Active 32 DOM
15. 2026-05-11
    price $425,000 1335-char remark
16. 2026-04-30
    listed $440,000 Active 1335-char remark
17. 2026-04-27
    historical $440,000 1335-char remark
18. 2025-12-18
    historical
19. 2025-08-18
    listed $445,000 Active
20. 2025-07-21
    historical
21. 2025-06-10
    status Active
22. 2025-03-20
    listed $455,000 Active
23. 2025-03-18
    historical

ⓘ 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: $4,376 · $365/mo
• Projected year-2 tax: $4,512 · $376/mo
• Expected delta: +$136/yr (+$11/mo · 3.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 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: $43,190
• − Mortgage interest: −$23,246
• − Property taxes: −$4,376
• − Insurance: −$2,075
• − Repairs & maintenance: −$3,455
• − Management: −$3,455
• − HOA: −$912
• − Depreciation: −$12,073
• Taxable loss: −$6,403
• Est. tax savings @ 24.0%: +$1,537
• After-tax cash flow: $2,178/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

-8.8% since first listed

10 events — show timeline

• 2026-05-26 Price Changed $415,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $440,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Coming Soon $440,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-18 Listed $445,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-10 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-20 Listed $455,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-18 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+88.1%/yr

Latest (2025): $4,376 · -8.9% YoY. Source: county tax records.