10487 Pierce St NE · Blaine, MN 55434

$129,900

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 21 Days on market

Built 2014 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 2014 Schult 28x56 doublewide in Blaine International Village. This 3 bedroom, 2 full bathroom home is move-in ready and has been exceptionally cared for, showing true pride of ownership throughout. Located directly across from a park in a quiet, family-friendly community with welcoming neighbors and a safe atmosphere, this home is perfect for families or anyone looking for comfortable, affordable living in Blaine. Inside, you & acirc; & euro; & trade; ll find a spacious open layout with upgraded finishes, a large kitchen and living area ideal for gathering, plus all appliances included. The home also features central air, off-street pa

Key facts

• Utility shed
• Across from a park
• Large kitchen

Tags

• CENTRAL AIR
• UTILITY SHED
• LARGE KITCHEN
• SPACIOUS OPEN LAYOUT
• OFF-STREET PARKING
• ACROSS FROM A PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.9% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 109 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.49% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.10%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 1.80×
• Total profit: $28,985
• Equity at exit: $19,369

10-year hold

• IRR: 28.7%
• Equity multiple: 3.75×
• Total profit: $100,094
• Equity at exit: $11,231

Cash invested: $36,372 (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 55434

• Rents YoY: 4.8%
• Active inventory: 109
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,933 high
• Mortgage (P&I): −$681
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $730

Break-even live

Break-even rent $1,008

Max offer price $129,900

Occupancy floor 57%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
249 99th Ave NE Unit 241-307 Blaine, MN	2.0	1.0	875	$1,445	$1.65	19d	1	1.20mi
249 99th Ave NE Unit 249-308 Blaine, MN	2.0	1.0	875	$1,430	$1.63	43d	1	1.20mi
249 99th Ave NE Unit 241-107 Blaine, MN	2.0	1.0	875	$1,445	$1.65	43d	1	1.20mi
9436 Ulysses St NE Minneapolis, MN	2.0	1.0–2.0	775	$2,095	$2.70	1d	10	1.22mi
9460 Ulysses St NE Blaine, MN	2.0	1.0–2.0	846	$2,294	$2.71	1d	6	1.23mi

Listing history 15 events

1. 2026-06-18
   days on market $129,900 Active 21 DOM
2. 2026-06-17
   days on market $129,900 Active 20 DOM
3. 2026-06-16
   days on market $129,900 Active 19 DOM
4. 2026-06-15
   days on market $129,900 Active 18 DOM
5. 2026-06-13
   days on market $129,900 Active 16 DOM
6. 2026-06-13
   days on market $129,900 Active 15 DOM
7. 2026-06-09
   days on market $129,900 Active 12 DOM
8. 2026-06-08
   days on market $129,900 Active 11 DOM
9. 2026-06-07
   days on market $129,900 Active 10 DOM
10. 2026-06-04
    days on market $129,900 Active 7 DOM
11. 2026-06-03
    days on market $129,900 Active 6 DOM
12. 2026-06-02
    days on market $129,900 Active 5 DOM
13. 2026-06-01
    days on market $129,900 Active 4 DOM
14. 2026-05-31
    days on market $129,900 Active 3 DOM
15. 2026-05-29
    listed $129,900 Active

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$361/yr (+$30/mo · 49.2%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,194
• − Mortgage interest: −$7,276
• − Property taxes: −$734
• − Insurance: −$650
• − Repairs & maintenance: −$1,856
• − Management: −$1,856
• − Depreciation: −$3,779
• Taxable income: $7,045
• Est. tax owed @ 24.0%: −$1,691
• After-tax cash flow: $7,075/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 · 1 photo

Good 75/100 Cosmetic rehab

This 2014 Schult 28x56 doublewide is move-in ready and exceptionally cared for, showing true pride of ownership. It offers a spacious open layout with upgraded finishes and is located in a quiet, family-friendly community.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New roof inspection — Ensures durability and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New roof inspection — Ensures durability and adds value ↑

ⓘ 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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 33,029
• Household income: $90,336
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 526.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 10% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 5% Italian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Other Asian/Pacific 2% Vietnamese 2%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -230.62%
• Current HPI: 254.0422
• Rent YoY: ▲ 4.79%
• 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

1 event — show timeline

• 2026-05-29 Listed $129,900 FSBO.com

Property tax history

+10.3%/yr

Latest (2026): $734 · +5.3% YoY. Source: county tax records.