1058 Grant St · Anoka, MN 55303

$298,900

4 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 20 Days on market

Built 1978 10,018 sqft lot $259/sqft · 46% above area Est $365k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• DSCR +3.1/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice bank owned home in great Anoka location. Large kitchen with many cabinets, two fireplaces, open floor plan, deck and fenced yard. Two car garage. Just some cosmetic TLC. Shows great. Priced to sell, a must see!

Key facts

• Open floor plan
• Large kitchen
• Deck

Tags

• CORNER LOT
• OPEN FLOOR PLAN
• LARGE KITCHEN
• ABUNDANT CABINET SPACE
• TWO FIREPLACES
• DECK

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Split entry (bi-level) design; Deck
• Construction: Block foundation; Asphalt roof; Built area includes 1,152 above grade and 900 below grade (finished)
• Exterior features: Stone exterior accents; Chain link fencing; Corner lot; Light tree coverage; City street frontage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Eat-in kitchen / Kitchen with dining area
• Bedrooms: 4 bedrooms total; Main level bedroom(s); Lower level bedroom(s)
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Finished lower-level family room; Breakfast area / Eat-in kitchen / Informal dining; Deck; Two fireplaces (electric, living room)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (22.6% below list).
• Recommended offer: $231k (22.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.4% in Anoka — 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 79/100 on livability (#102 in MN, #2,300 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: amenities D+, health & safety F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 346 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y ago 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.
• Current owner paid $87k; list at $299k implies a 243% gain — meaningful room to come down on a strong offer.

Recommended offer $231,208 (22.6% below list)

Questions for the listing agent

1. 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?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.77% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 10.8

CMA / ARV

• ARV (median comp): $364,700
• List price: $298,900
• Delta: -18.04%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.35×
• Total profit: $-54,105
• Equity at exit: $44,567

10-year hold

• IRR: -8.2%
• Equity multiple: 0.46×
• Total profit: $-45,458
• Equity at exit: $25,843

Cash invested: $83,692 (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 55303

• Rents YoY: 4.3%
• Active inventory: 346
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,312 medium
• Mortgage (P&I): −$1,567
• Tax from tax record: −$272 /mo · $3,259/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $-137

Break-even live

Break-even rent $2,486

Max offer price $274,686

Occupancy floor —

Sensitivity live

Price	-10% $32	-5% $-52	+0% $-137	+5% $-222	+10% $-306
Rent	-10% $-320	-5% $-228	+0% $-137	+5% $-46	+10% $46
Rate	-1.0pp $13	-0.5pp $-61	base $-137	+0.5pp $-215	+1.0pp $-293

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: $74,725
• Closing costs: $8,967
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13752 Round Lake Blvd NW Unit 1 Andover, MN	3.0	1.0	1146	$2,525	$2.20	19d	1	0.96mi
1718 2nd Ave Anoka, MN	3.0	1.0	1300	$1,850	$1.42	45d	1	1.42mi
1718 2nd Ave Anoka, MN	3.0	1.0	1300	$1,750	$1.35	18d	1	1.42mi
3120 Northdale Blvd NW Minneapolis, MN	3.0	1.0–2.0	1009	$2,755	$2.73	0d	12	1.45mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $298,900 Pending 20 DOM
2. 2026-06-04
   days on market $298,900 Contingent - Inspection 18 DOM
3. 2026-06-03
   days on market $298,900 Contingent - Inspection 17 DOM
4. 2026-06-02
   statusdays on market $298,900 Contingent - Inspection 16 DOM
5. 2026-06-01
   days on market $298,900 Active 15 DOM
6. 2026-05-31
   days on market $298,900 Active 14 DOM
7. 2026-05-18
   historical Contingent - Inspection 449-char remark
8. 2026-05-15
   listed $298,900 Active 449-char remark
9. 2009-05-18
   soldstatus $87,036
10. 2009-05-06
    soldstatus $143,826 217-char remark

    Show marketing remark (217 chars)

    Nice bank owned home in great Anoka location. Large kitchen with many cabinets, two fireplaces, open floor plan, deck and fenced yard. Two car garage. Just some cosmetic TLC. Shows great. Priced to sell, a must see!

11. 2009-03-02
    historical 217-char remark

    Show marketing remark (217 chars)

    Nice bank owned home in great Anoka location. Large kitchen with many cabinets, two fireplaces, open floor plan, deck and fenced yard. Two car garage. Just some cosmetic TLC. Shows great. Priced to sell, a must see!

12. 2009-02-23
    listed $135,000 217-char remark

    Show marketing remark (217 chars)

    Nice bank owned home in great Anoka location. Large kitchen with many cabinets, two fireplaces, open floor plan, deck and fenced yard. Two car garage. Just some cosmetic TLC. Shows great. Priced to sell, a must see!

13. 1998-12-16
    soldstatus $115,500
14. 1998-11-01
    historical
15. 1998-09-29
    listed $117,900

ⓘ 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: $3,259 · $272/mo
• Projected year-2 tax: $3,303 · $275/mo
• Expected delta: +$44/yr (+$4/mo · 1.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $27,745
• − Mortgage interest: −$16,743
• − Property taxes: −$3,259
• − Insurance: −$1,494
• − Repairs & maintenance: −$2,220
• − Management: −$2,220
• − Depreciation: −$8,695
• Taxable loss: −$6,886
• Est. tax savings @ 24.0%: +$1,653
• After-tax cash flow: $8/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Anoka

• Score: 79/100
• State rank: #102
• US rank: #2300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anoka, MN
• County: Anoka County · 277,116 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 52,614
• Household income: $102,986
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 1060.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 7% Two or more races 6% Hispanic / Latino 4% Asian 3%
• Common ancestry: Portuguese 12% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Other Asian/Pacific 2% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.26%
• Current HPI: 251.4034
• Rent YoY: ▲ 4.31%
• 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

+153.5% since first listed

12 events — show timeline

• 2026-06-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-28 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $298,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-18 Sold (Public Records) $87,036 Public Records
• 2009-05-06 Sold (MLS) $143,826 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-23 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-12-16 Sold (MLS) $115,500 NORTHSTARMLS as Distributed by MLS Grid
• 1998-11-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-09-29 Listed $117,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2026): $3,259 · +5.1% YoY. Source: county tax records.