84 Edison Blvd · Silver Bay, MN 55614

$149,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 1 Days on market

Built 1954 8,712 sqft lot Est $130k · 15% over

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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 +9.1/30.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• ARV discount +0.8/15.0

Listing remarks MLS

Cozy Silver Bay home. Many interior features of this home have been updated including, carpeting, sheetrock, wiring and the bathroom. The main floor bath has a custom tile shower complete with heated floors. Say goodbye to exterior maintenance, this home has newer metal siding, a metal roof, updated skirting, soffit and fascia and newer vinyl windows. Take a look today!

Key facts

• Metal roof
• Tiled walk-in shower
• Metal siding

Tags

• METAL SIDING
• METAL ROOF
• CUSTOM BATHROOM
• TILED WALK-IN SHOWER
• HEATED FLOORS
• GAS FIREPLACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One-story
• Construction: Metal roof
• Exterior features: Irregular-shaped lot; Approximately 0.2 acre lot

Interior

• Bedrooms: Master downstairs
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Heating with natural gas; Fireplace heating available
• Interior features: Master bedroom on the main level; Full basement; One gas fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (28.7% below list).
• Recommended offer: $107k (28.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#217 in MN, #4,547 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Lake Superior Public School District (rural): math 34% / reading 53% proficiency, ranked #191 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 81 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Lake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,860 (28.7% 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 1954 — 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 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?
5. 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?
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: 0.71% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $130,425
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Edison Blvd	0.12mi	3/1.0	960 (+4%)	3mo	$135,000	$141	86
27 James Rd	0.26mi	3/2.0	960 (+4%)	8mo	$130,000	$135	70
77 Hays Crk	0.26mi	3/1.0	960 (+4%)	20mo	$230,000	$240	65
51 Davis Dr	0.53mi	3/1.0	864 (-7%)	3mo	$107,500	$124	62
88 Banks Blvd	0.63mi	3/1.0	864 (-7%)	0mo	$105,000	$122	59
12 Dodge Ln	0.62mi	2/1.0 (-1)	864 (-7%)	18mo	$141,000	$163	40
10 Drake Cr Cir	0.64mi	2/1.0 (-1)	864 (-7%)	23mo	$150,000	$174	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 2.77×
• Total profit: $74,241
• Equity at exit: $135,042

10-year hold

• IRR: 19.7%
• Equity multiple: 6.35×
• Total profit: $224,361
• Equity at exit: $291,223

Cash invested: $41,972 (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 55614

• Home prices YoY: 11.9%
• Active inventory: 66
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $-116

Break-even live

Break-even rent $1,215

Max offer price $129,464

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $149,900 Active 1 DOM

ⓘ 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: $1,336 · $111/mo
• Projected year-2 tax: $1,507 · $126/mo
• Expected delta: +$171/yr (+$14/mo · 12.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,823
• − Mortgage interest: −$8,397
• − Property taxes: −$1,336
• − Insurance: −$750
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$4,361
• Taxable loss: −$4,071
• Est. tax savings @ 24.0%: +$977
• After-tax cash flow: $-411/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: Lake Superior Public School District
• NCES district ID: 2740740
• Math proficiency: 34% ▼ -24.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $51,958
• Composite: 37.51/100
• National rank: #4399
• State rank: #191 of 301 in MN

Livability — Silver Bay

• Score: 74/100
• State rank: #217
• US rank: #4547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Bay, MN
• Population (ZIP): 2,450

Population outlook (Lake County) Hauer SSP2

• Today (2025): 9,943 people
• By 2030: 9,437 · -5.1%
• By 2040: 8,326 · -16.3%
• By 2050: 7,365 · -25.9%
• By 2075: 6,008 · -39.6%
• By 2100: 5,038 · -49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Portuguese 21% Lithuanian 2% Scottish 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 51.0% · R 47.1% · Other 1.9%
• 2008→2024 swing: -18.2pp toward R · 2008: 22.1pp · 2024: 3.9pp
• All cycles: 2024: D+3.9 2020: D+3.5 2016: D+2.2 2012: D+21.1 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.26%
• Current HPI: 490.17
• 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

+178.1% since first listed

9 events — show timeline

• 2026-06-17 Listed $149,900 LSAR
• 2021-03-30 Sold (Public Records) $137,500 Public Records
• 2021-03-29 Sold (MLS) $133,000 LSAR
• 2020-12-30 Listed $135,000 LSAR
• 2014-05-15 Sold (MLS) $43,000 LSAR
• 2014-05-15 Sold (MLS) $43,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-26 Listed $53,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-15 Listed $53,900 LSAR

Property tax history

+10.1%/yr

Latest (2025): $1,336 · +205.6% YoY. Source: county tax records.