7238 Dora Dr

Lino Lakes, MN 55038

$339,900D-

3 bd · 3.0 ba · 1,784 sqft · Built 2020 · Townhouse · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,858/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$446
• HOA: −$263
• Vac / Maint / Mgmt: −$600
• Net cashflow: $-234/mo
• Annual: $-2,802/yr
• Cap rate: 5.47%
• Cash-on-cash: -2.94%
• DSCR: 0.87
• 1% rule: 0.84%
• Cash to close: $95,172

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $340k.
• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (15.9% below list).
• It's been on market 35 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $286k (15.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#287 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• White Bear Lake School District (suburban): math 45% / reading 57% proficiency, ranked #83 of 301 in MN (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 279 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 5y 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.
• Cap rate 5.5% vs local median 3.1% in Lino Lakes — 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.

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 35 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.
• 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.