6065 Manchester Ave NE · Otsego, MN 55301

$260,000

3 bd · 1.0 ba · 1,461 sqft · Townhouse public records · 66 Days on market

Built 2008 1,001 sqft lot $178/sqft · 20% below area Est $319k · 18% under $315/mo HOA · 12% of rent

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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 +16.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• Schools +5.2/10.0
• DSCR +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

***All new paint as of 5-8-26! New color is light grey and is not the color in photos*** Welcome to 6065 Manchester Ave NE, a meticulously maintained townhome in the heart of Otsego. From the moment you step inside, you’ll be greeted by an inviting, sun filled open layout highlighted by elegant natural woodwork and durable updated flooring. The main level is designed for both relaxing and entertaining, featuring a spacious living room centered around a cozy gas fireplace, perfect for those chilly Minnesota evenings. The heart of the home is the functional kitchen, boasting sleek stainless steel appliances, ample cabinetry, and an informal dining area that flows seamlessly out to your private patio, an ideal spot for morning coffee or summer grilling. The thoughtful design continues upstairs, where you’ll find all three bedrooms conveniently located on one level. The expansive primary suite serves as a true retreat, offering a massive walk in closet and a private ensuite bath featuring a shower and a luxurious jetted tub for ultimate relaxation. Two additional well appointed bedrooms and a full guest bath provide plenty of space for family, guests, or a dedicated home office. For added convenience, the laundry closet is also located on the upper level, right where you need it most. This home offers the space of a single family residence with the effortless lifestyle of a townhome. Don't miss your chance to call this Otsego gem your own!

Key facts

• $315 HOA
• 2 garage spots
• Built 2008

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $260k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.0% in Otsego — 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 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,260 units permitted in Wright County in 2024 (180 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 $8k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 8.0

CMA / ARV

• ARV (median comp): $318,549
• List price: $260,000
• Delta: -18.38%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.3%
• Equity multiple: 0.56×
• Total profit: $-32,319
• Equity at exit: $38,767

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-15,050
• Equity at exit: $22,480

Cash invested: $72,800 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,722 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$212 /mo · $2,544/yr
• Insurance: −$108
• HOA: −$315
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $151

Break-even live

Break-even rent $2,530

Max offer price $260,000

Occupancy floor 89%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5518 Lachman Ave NE Albertville, MN	2.0	2.0	1532	$2,300	$1.50	5d	1	1.05mi
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,269	$1.58	1d	7	1.26mi
10740 County Road 37 NE Albertville, MN	2.0–3.0	1.0–2.0	988	$1,740	$1.76	1d	6	1.47mi

HOA detail

• Monthly dues: $315 · $3,780/yr
• Likely covers: gas

Listing history 26 events

1. 2026-06-13
   statusdays on market $260,000 Pending 66 DOM
2. 2026-06-09
   days on market $260,000 Contingent - Subject to Statutory Rescission 65 DOM
3. 2026-06-08
   days on market $260,000 Contingent - Subject to Statutory Rescission 64 DOM
4. 2026-06-07
   days on market $260,000 Contingent - Subject to Statutory Rescission 63 DOM
5. 2026-06-04
   days on market $260,000 Contingent - Subject to Statutory Rescission 60 DOM
6. 2026-06-03
   days on market $260,000 Contingent - Subject to Statutory Rescission 59 DOM
7. 2026-06-02
   statusdays on market $260,000 Contingent - Subject to Statutory Rescission 58 DOM
8. 2026-06-01
   days on market $260,000 Contingent - Inspection 57 DOM
9. 2026-05-31
   days on market $260,000 Contingent - Inspection 56 DOM
10. 2026-04-25
    price $260,000 1475-char remark

    Show marketing remark (1475 chars)

    ***All new paint as of 5-8-26! New color is light grey and is not the color in photos*** Welcome to 6065 Manchester Ave NE, a meticulously maintained townhome in the heart of Otsego. From the moment you step inside, you’ll be greeted by an inviting, sun filled open layout highlighted by elegant natural woodwork and durable updated flooring. The main level is designed for both relaxing and entertaining, featuring a spacious living room centered around a cozy gas fireplace, perfect for those chilly Minnesota evenings. The heart of the home is the functional kitchen, boasting sleek stainless steel appliances, ample cabinetry, and an informal dining area that flows seamlessly out to your private patio, an ideal spot for morning coffee or summer grilling. The thoughtful design continues upstairs, where you’ll find all three bedrooms conveniently located on one level. The expansive primary suite serves as a true retreat, offering a massive walk in closet and a private ensuite bath featuring a shower and a luxurious jetted tub for ultimate relaxation. Two additional well appointed bedrooms and a full guest bath provide plenty of space for family, guests, or a dedicated home office. For added convenience, the laundry closet is also located on the upper level, right where you need it most. This home offers the space of a single family residence with the effortless lifestyle of a townhome. Don't miss your chance to call this Otsego gem your own!

11. 2026-04-06
    listed $269,000 Active 1475-char remark

    Show marketing remark (1475 chars)

    ***All new paint as of 5-8-26! New color is light grey and is not the color in photos*** Welcome to 6065 Manchester Ave NE, a meticulously maintained townhome in the heart of Otsego. From the moment you step inside, you’ll be greeted by an inviting, sun filled open layout highlighted by elegant natural woodwork and durable updated flooring. The main level is designed for both relaxing and entertaining, featuring a spacious living room centered around a cozy gas fireplace, perfect for those chilly Minnesota evenings. The heart of the home is the functional kitchen, boasting sleek stainless steel appliances, ample cabinetry, and an informal dining area that flows seamlessly out to your private patio, an ideal spot for morning coffee or summer grilling. The thoughtful design continues upstairs, where you’ll find all three bedrooms conveniently located on one level. The expansive primary suite serves as a true retreat, offering a massive walk in closet and a private ensuite bath featuring a shower and a luxurious jetted tub for ultimate relaxation. Two additional well appointed bedrooms and a full guest bath provide plenty of space for family, guests, or a dedicated home office. For added convenience, the laundry closet is also located on the upper level, right where you need it most. This home offers the space of a single family residence with the effortless lifestyle of a townhome. Don't miss your chance to call this Otsego gem your own!

12. 2026-04-04
    historical $269,000 1475-char remark

    Show marketing remark (1475 chars)

    ***All new paint as of 5-8-26! New color is light grey and is not the color in photos*** Welcome to 6065 Manchester Ave NE, a meticulously maintained townhome in the heart of Otsego. From the moment you step inside, you’ll be greeted by an inviting, sun filled open layout highlighted by elegant natural woodwork and durable updated flooring. The main level is designed for both relaxing and entertaining, featuring a spacious living room centered around a cozy gas fireplace, perfect for those chilly Minnesota evenings. The heart of the home is the functional kitchen, boasting sleek stainless steel appliances, ample cabinetry, and an informal dining area that flows seamlessly out to your private patio, an ideal spot for morning coffee or summer grilling. The thoughtful design continues upstairs, where you’ll find all three bedrooms conveniently located on one level. The expansive primary suite serves as a true retreat, offering a massive walk in closet and a private ensuite bath featuring a shower and a luxurious jetted tub for ultimate relaxation. Two additional well appointed bedrooms and a full guest bath provide plenty of space for family, guests, or a dedicated home office. For added convenience, the laundry closet is also located on the upper level, right where you need it most. This home offers the space of a single family residence with the effortless lifestyle of a townhome. Don't miss your chance to call this Otsego gem your own!

13. 2022-03-07
    soldstatus $241,000
14. 2022-02-28
    soldstatus $241,000 Sold 283-char remark

    Show marketing remark (283 chars)

    *** Multiple Offers Received, All offers due Thursday, January 13th by 7:00 PM *** This well maintained 3 bedroom, 3 bathroom townhouse features a walkthrough master bathroom, upper level laundry and a 2 car garage. Conveniently located to highway,dining, schools, shopping and more!

15. 2022-01-28
    status Pending 283-char remark

    Show marketing remark (283 chars)

    *** Multiple Offers Received, All offers due Thursday, January 13th by 7:00 PM *** This well maintained 3 bedroom, 3 bathroom townhouse features a walkthrough master bathroom, upper level laundry and a 2 car garage. Conveniently located to highway,dining, schools, shopping and more!

16. 2022-01-14
    historical Contingent - Subject to Statutory Rescission 283-char remark

    Show marketing remark (283 chars)

    *** Multiple Offers Received, All offers due Thursday, January 13th by 7:00 PM *** This well maintained 3 bedroom, 3 bathroom townhouse features a walkthrough master bathroom, upper level laundry and a 2 car garage. Conveniently located to highway,dining, schools, shopping and more!

17. 2022-01-14
    status Pending 283-char remark

    Show marketing remark (283 chars)

    *** Multiple Offers Received, All offers due Thursday, January 13th by 7:00 PM *** This well maintained 3 bedroom, 3 bathroom townhouse features a walkthrough master bathroom, upper level laundry and a 2 car garage. Conveniently located to highway,dining, schools, shopping and more!

18. 2022-01-09
    listed $219,900 Active 283-char remark

    Show marketing remark (283 chars)

    *** Multiple Offers Received, All offers due Thursday, January 13th by 7:00 PM *** This well maintained 3 bedroom, 3 bathroom townhouse features a walkthrough master bathroom, upper level laundry and a 2 car garage. Conveniently located to highway,dining, schools, shopping and more!

19. 2021-01-19
    soldstatus $204,000
20. 2020-11-19
    soldstatus $204,000 Sold
21. 2020-10-19
    status Pending
22. 2020-10-17
    historical Contingent - Subject to Financing
23. 2020-10-15
    listed $199,900 Active
24. 2009-02-09
    soldstatus $127,465
25. 2008-12-07
    historical
26. 2008-12-04
    listed $129,965

ⓘ 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: $2,544 · $212/mo
• Projected year-2 tax: $2,728 · $227/mo
• Expected delta: +$184/yr (+$15/mo · 7.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,662
• − Mortgage interest: −$14,564
• − Property taxes: −$2,544
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,613
• − Management: −$2,613
• − HOA: −$3,780
• − Depreciation: −$7,564
• Taxable loss: −$2,315
• Est. tax savings @ 24.0%: +$556
• After-tax cash flow: $2,373/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• 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

+100.1% since first listed

17 events — show timeline

• 2026-04-25 Price Changed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Listed $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-04 Coming Soon $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-07 Sold (Public Records) $241,000 Public Records
• 2022-02-28 Sold (MLS) $241,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-09 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-19 Sold (Public Records) $204,000 Public Records
• 2020-11-19 Sold (MLS) $204,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-15 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-09 Sold (MLS) $127,465 NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-04 Listed $129,965 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $2,544 · +0.9% YoY. Source: county tax records.