723 E Hwy 14 · Balaton, MN 56115

$215,500

4 bd · 2.0 ba · 2,176 sqft · SingleFamily · 30 Days on market

Built 1900 1.96 ac lot

---

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).

• Appreciation +10.0/10.0
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +2.1/10.0

Listing remarks MLS

1.96 acres on edge of Balaton, great views. Close to lake & golf course.Home has many updates including siding, windows, roof , furnace ,kitchen and bath. This is a unique property. Priced at just 89,900.

Key facts

• Remodeled
• New furnace
• Updated electrical

Tags

• REMODELED
• NEW FURNACE
• CENTRAL A/C
• UPDATED ELECTRICAL
• NEW WINDOWS
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; Two-story home; Entry level: Main
• Construction: Block foundation
• Exterior features: Vinyl exterior; Irregular-shaped lot of about 1.96 acres

Interior

• Kitchen: Main-level kitchen
• Bedrooms: 4 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-level living areas; Two levels; Basement with block foundation
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $216k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (28.8% below list).
• Recommended offer: $153k (28.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#477 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Zoned schools: Tracy Elementary (math 57% / reading 57%, grade C+, #265 of 857 statewide, top 35%, 327 students, 56% FRL); Tracy Secondary (math 42% / reading 57%, grade D, #143 of 471 statewide, top 33%, 330 students, 50% FRL).
• Market conditions: 52 active listings in the ZIP; 91 units permitted in Lyon County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Lyon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $78k; list at $216k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,429 (28.8% 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 1900 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 11.7

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: 21.6%
• Equity multiple: 2.75×
• Total profit: $105,426
• Equity at exit: $194,139

10-year hold

• IRR: 19.5%
• Equity multiple: 6.30×
• Total profit: $319,763
• Equity at exit: $418,669

Cash invested: $60,340 (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 56115

• Home prices YoY: 11.5%
• Active inventory: 52
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$1,130
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-187

Break-even live

Break-even rent $1,771

Max offer price $182,470

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-126	+0% $-187	+5% $-248	+10% $-309
Rent	-10% $-308	-5% $-248	+0% $-187	+5% $-126	+10% $-66
Rate	-1.0pp $-78	-0.5pp $-132	base $-187	+0.5pp $-243	+1.0pp $-300

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: $53,875
• Closing costs: $6,465
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $215,500 Active 30 DOM
2. 2026-06-19
   days on market $215,500 Active 27 DOM
3. 2026-06-18
   days on market $215,500 Active 26 DOM
4. 2026-06-17
   days on market $215,500 Active 25 DOM
5. 2026-06-16
   days on market $215,500 Active 24 DOM
6. 2026-06-15
   days on market $215,500 Active 23 DOM
7. 2026-06-14
   days on market $215,500 Active 21 DOM
8. 2026-06-12
   days on market $215,500 Active 20 DOM
9. 2026-06-08
   days on market $215,500 Active 16 DOM
10. 2026-06-07
    days on market $215,500 Active 15 DOM
11. 2026-06-05
    days on market $215,500 Active 13 DOM
12. 2026-06-04
    days on market $215,500 Active 11 DOM
13. 2026-06-02
    days on market $215,500 Active 10 DOM
14. 2026-06-01
    days on market $215,500 Active 9 DOM
15. 2026-05-31
    days on market $215,500 Active 8 DOM
16. 2026-05-31
    days on market $215,500 Active 7 DOM
17. 2026-05-23
    listed $215,500 Active
18. 2020-07-17
    historical
19. 2020-06-15
    listed $75,000 Active
20. 2019-02-02
    historical 208-char remark

    Show marketing remark (208 chars)

    1.96 acres on edge of Balaton, great views. Close to lake & golf course.Home has many updates including siding, windows, roof , furnace ,kitchen and bath. This is a unique property. Priced at just 89,900.

21. 2017-07-20
    soldstatus $77,500 208-char remark

    Show marketing remark (208 chars)

    1.96 acres on edge of Balaton, great views. Close to lake & golf course.Home has many updates including siding, windows, roof , furnace ,kitchen and bath. This is a unique property. Priced at just 89,900.

22. 2017-07-20
    soldstatus $77,500

    Show marketing remark (208 chars)

    1.96 acres on edge of Balaton, great views. Close to lake & golf course.Home has many updates including siding, windows, roof , furnace ,kitchen and bath. This is a unique property. Priced at just 89,900.

23. 2016-07-26
    listed $89,900 208-char remark

    Show marketing remark (208 chars)

    1.96 acres on edge of Balaton, great views. Close to lake & golf course.Home has many updates including siding, windows, roof , furnace ,kitchen and bath. This is a unique property. Priced at just 89,900.

24. 2003-01-01
    soldstatus $25,000

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$132/yr (+$11/mo · 6.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,411
• − Mortgage interest: −$12,071
• − Property taxes: −$2,150
• − Insurance: −$1,078
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$6,269
• Taxable loss: −$6,102
• Est. tax savings @ 24.0%: +$1,465
• After-tax cash flow: $-779/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)

No district data.

Livability — Balaton

• Score: 66/100
• State rank: #477
• US rank: #11330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Balaton, MN
• Population (ZIP): 1,262

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 25,369 people
• By 2030: 24,890 · -1.9%
• By 2040: 23,599 · -7.0%
• By 2050: 22,383 · -11.8%
• By 2075: 20,076 · -20.9%
• By 2100: 18,901 · -25.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 17% Iranian 6% Romanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+31.8) · D 33.1% · R 64.9% · Other 2.0%
• 2008→2024 swing: -30.2pp toward R · 2008: -1.6pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+25.9 2016: R+28.3 2012: R+9.2 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.48%
• Current HPI: 111.48
• 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

+762.0% since first listed

8 events — show timeline

• 2026-05-23 Listed $215,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-15 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-20 Sold (Public Records) $77,500 Public Records
• 2017-07-20 Sold (MLS) $77,500 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-26 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-01 Sold (Public Records) $25,000 Public Records

Property tax history

+6.8%/yr

Latest (2026): $2,150 · +52.7% YoY. Source: county tax records.