24102 Greenland Rd Unit D12 · Elysian, MN 56063

$99,900

3 bd · 2.0 ba · 1,320 sqft · SingleFamily · 7 Days on market

Built 1998 Good condition $208/mo HOA · 15% 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 +24.9/30.0
• 1% rule +9.1/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Want seasonal living by the lake? Check out this 3-bedroom 2-bathroom home located in The Sakatah Trail Resort. The home is a 16x66 Friendship manufacture home built in 1998. The sellers had a professional install good foundation piers. They had a new metal roof installed in 2023 and also added a 12x22 addition off the back. It also has a 16'x10' deck in the front for those afternoons to sit and enjoy the outside. They have remodeled the bathrooms; put new oak cabinets in the kitchen and new flooring throughout and added a Culligan Iron Curtain water softener. If you are looking for seasonal living, this may be the home for you.

Key facts

• Metal roof
• Oak cabinets
• Water softener

Tags

• METAL ROOF
• DECK
• REMODELED BATHROOMS
• OAK CABINETS
• WATER SOFTENER

Property features AI

Finance

• Other: Private road frontage
• HOA & community: Sakatah Trail Resort association; Annual association fee of $2,500 (includes water and sewer); Association amenities include deck

Exterior

• Parking: Other parking
• Utilities: Shared water system; Shared septic; Electric with circuit breakers; Propane fuel
• Home design: Residential property; Manufactured home; One level
• Construction: Frame construction; Roof replaced or installed within last 8 years; Built on foundation with 1,320 foundation area
• Exterior features: Vinyl exterior; Deck; Storage shed; Lake view (shared waterfront); road between home and waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on main level); Bedroom dimensions include 14×10, 11×8, and 9×9; Bonus room on main level
• Bathrooms: Two 3/4 baths (including a primary 3/4 and a main floor 3/4)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Water softener (owned)
• Laundry & utility: Main level laundry (7×6); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 63/100 on livability (#661 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Waterville-Elysian-Morristown (rural): math 44% / reading 52% proficiency, ranked #135 of 301 in MN (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 60 units permitted in Le Sueur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Le Sueur County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $99,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,329
• Equity at exit: $14,895

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $16,231
• Equity at exit: $8,638

Cash invested: $27,972 (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 56063

• Home prices YoY: -24.4%
• Active inventory: 60
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$208
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $215

Break-even live

Break-even rent $1,137

Max offer price $99,900

Occupancy floor 80%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $208 · $2,496/yr
• Likely covers: water

Listing history 9 events

1. 2026-06-19
   days on market $99,900 Active 7 DOM
2. 2026-06-18
   days on market $99,900 Active 6 DOM
3. 2026-06-17
   days on market $99,900 Active 5 DOM
4. 2026-06-16
   days on market $99,900 Active 4 DOM
5. 2026-06-15
   days on market $99,900 Active 3 DOM
6. 2026-06-12
   days on marketlisting id $99,900 Active 1 DOM
7. 2026-05-31
   days on market $99,900 Active 101 DOM
8. 2026-05-30
   days on market $99,900 Active 100 DOM
9. 2026-02-18
   listed $110,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 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: $16,916
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − HOA: −$2,496
• − Depreciation: −$2,906
• Taxable income: $1,213
• Est. tax owed @ 24.0%: −$291
• After-tax cash flow: $2,292/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 3-bedroom 2-bathroom home in The Sakatah Trail Resort is in good condition with recent updates and a good foundation. It's ready for seasonal living by the lake.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and improves comfort
• Both Install smart home devices — Enhances convenience and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and improves comfort ↑
• Both Install smart home devices — Enhances convenience and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Waterville-Elysian-Morristown
• NCES district ID: 2700013
• Math proficiency: 44% ▼ -18.00%
• Reading proficiency: 52% ▼ -14.00%
• Median HH income: $56,686
• Composite: 41.74/100
• National rank: #3401
• State rank: #135 of 301 in MN

Livability — Elysian

• Score: 63/100
• State rank: #661
• US rank: #15857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,059

Population outlook (Le Sueur County) Hauer SSP2

• Today (2025): 27,622 people
• By 2030: 27,346 · -1.0%
• By 2040: 26,451 · -4.2%
• By 2050: 25,299 · -8.4%
• By 2075: 23,188 · -16.1%
• By 2100: 21,103 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Portuguese 12% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Le Sueur

• 2024 margin: Solid R (+33.7) · D 32.4% · R 66.0% · Other 1.6%
• 2008→2024 swing: -29.4pp toward R · 2008: -4.3pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+30.3 2016: R+30.7 2012: R+6.5 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.77%
• Current HPI: 206.8446
• 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

1 event — show timeline

• 2026-02-18 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid