45964 County Highway 36 · Toad Lake, MN 56544

$1

3 bd · 2.0 ba · 1,664 sqft · SingleFamily · 16 Days on market

Built 1989 154 ac lot

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

156+/- acres of beautiful Minnesota countryside and homestead near Wolf Lake in rural Frazee, Becker County! This exceptional property offers a diverse mix of wooded land, tillable acres, and willows with the Redeye River flowing through — a true sportsman's paradise with outstanding hunting and recreational potential. Offered in 3 parcels via online-only auction opening June 26th and closing June 30th at 12:00 PM. Parcel D (Lot 1) — 8.11+/- Acres w/ Homestead: One-level 3-bedroom, 2-bathroom home with a double stall attached garage. Outbuildings include a 16x24 shop, 24x42 barn with cement floor and hay loft, 40x84 steel-sided building with cement floor, 42x60 hay shed with roo

Key facts

• Tillable acres
• Redeye river
• Outbuildings

Tags

• WOODED LAND
• TILLABLE ACRES
• REDEYE RIVER
• HUNTING POTENTIAL
• RECREATIONAL POTENTIAL
• OUTBUILDINGS

Property features AI

Exterior

• Parking: Attached garage; 2-car garage (22x24)
• Utilities: Drilled private well (private water); Private sewer with tank and drainage field; 100 amp electric service; Propane fuel
• Home design: Residential property; One-level home; Entry/main level living; Above-grade finished area 1,664 (main level finished area 1,664)
• Construction: Frame construction; Asphalt roof; Block foundation (foundation dimensions 26x64)
• Exterior features: Wood exterior; Multiple outbuildings including garage(s), barn(s), granary, shed(s), workshop, and storage shed; Property includes pasture, meadow, scattered timber and wooded areas; topography includes high ground, level and low land

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms on one level (all on main level); Bedroom sizes include 11x14, 11x11, and 12x19
• Bathrooms: 1 full bathroom (8x10, main level); 1 three-quarter bathroom (5x9, main level)
• Heating & cooling: Baseboard heating; Forced air heating; No central cooling listed
• Interior features: Water softener (owned); Electric water heater; Fuel tank (rented); Main floor bedroom; Main floor laundry; Has basement (no finished basement features listed)
• Laundry & utility: Dedicated laundry room (9x12, main level); Washer and dryer included

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $1 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $951 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Frazee-Vergas Public School District (rural): math 39% / reading 47% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

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. 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.
3. 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.
4. 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: 120377.00% ✓
• Cap rate: 1141171.96%
• Cash-on-cash: 4075591.67%
• DSCR: 181341.90
• GRM: 0.0

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: —
• Equity multiple: 216381.64×
• Total profit: $60,587
• Equity at exit: $1

10-year hold

• IRR: —
• Equity multiple: 467227.64×
• Total profit: $130,823
• Equity at exit: $2

Cash invested: $0 (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 56544

• Home prices YoY: 7.4%
• Active inventory: 74

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $951

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1 Active 16 DOM
2. 2026-06-17
   days on market $1 Active 15 DOM
3. 2026-06-16
   days on market $1 Active 14 DOM
4. 2026-06-15
   days on market $1 Active 13 DOM
5. 2026-06-13
   days on market $1 Active 11 DOM
6. 2026-06-12
   days on market $1 Active 10 DOM
7. 2026-06-09
   days on market $1 Active 7 DOM
8. 2026-06-08
   days on market $1 Active 6 DOM
9. 2026-06-07
   days on market $1 Active 5 DOM
10. 2026-06-05
    days on market $1 Active 3 DOM
11. 2026-06-03
    remarks 687-char remark
12. 2026-06-03
    listed $1 Active 1 DOM

ⓘ 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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,445
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$0
• Taxable income: $12,134
• Est. tax owed @ 24.0%: −$2,912
• After-tax cash flow: $8,500/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: Frazee-Vergas Public School District
• NCES district ID: 2712360
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 47% ▼ -15.00%
• Median HH income: $50,634
• Composite: 37.01/100
• National rank: #4521
• State rank: #196 of 301 in MN

Livability — Toad Lake

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

Census & demographics

• Population (ZIP): 5,609

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Black 3% Hispanic / Latino 2% Native American 2%
• Common ancestry: Portuguese 14% Lithuanian 4% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.76%
• Current HPI: 270.91
• 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