3153 Old Highway 8 Apt 208a

Roseville, MN 55418

$99,900D+

1 bd · 1.0 ba · 618 sqft · Built 1967 · Condo · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,320/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$372
• Vac / Maint / Mgmt: −$277
• Net cashflow: $-20/mo
• Annual: $-239/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• 1% rule: 1.32%
• Cash to close: $27,972

Investor read

• This is a 1-bed/1.0-bath condo listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $-20 ($-239/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 157 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#69 in MN, #1,685 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime F.
• Mounds View Public School District (suburban): math 58% / reading 64% proficiency, ranked #30 of 301 in MN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents rising fast (+5.2%/yr); 162 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.1% vs local median 3.1% in Roseville — 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.
• This rent is only 16% of the median local income ($99k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Light wear and tear.
• Minor: Bathroom vanity — Light wear and tear.
• Minor: Living room carpet — Signs of wear and tear.
• Minor: Exterior siding — No visible damage, but snow suggests winter conditions.