306 Quadna Mountain Rd · Hill City, MN 55748

$130,000

1 bd · 1.0 ba · 632 sqft · Townhouse public records · 21 Days on market

Built 1973 Fair condition 871 sqft lot $326/mo HOA · 30% of rent

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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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +5.8/30.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +0.2/10.0

Listing remarks MLS

Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

Key facts

• $326 HOA
• Pool
• Built 1973

Property features AI

Finance

• Financial info: Property listed free and clear
• HOA & community: Quadna Mountain Townhouses Association; Monthly HOA fee includes beach access, cable TV, dock, lawn care, grounds maintenance, shared amenities, snow removal, and water

Exterior

• Parking: Open parking lot
• Utilities: Well water; City sewer (connected); Propane fuel; Electric service with circuit breakers, 100 amp service (Lake Country Power)
• Home design: Attached residential property; One and one-half levels; Entry and main living on main level
• Construction: Frame construction; Asphalt roof; Crawl space foundation; Built/renovated (rehabbed)
• Exterior features: Deck; Porch; Dock (shared); Wood exterior; Storage shed; Shared below-ground heated pool; Shared waterfront access; Paved streets, public maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 1 bedroom (main level) — 11 x 13; Loft (upper) — 8 x 19
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Fireplace(s) heating; Window air conditioning unit(s); Electric fireplace (living room)
• Interior features: Vaulted ceiling; Ceiling fan(s); Natural woodwork; Kitchen and dining combined; All living facilities on one level; Main floor bedroom; Main floor laundry; Rehabbed / Renovated
• Laundry & utility: Washer and dryer in unit (main level laundry)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-260 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (35.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (16.9% below list).
• Recommended offer: $84k (35.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#360 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Hill City Public School District (rural): math 35% / reading 45% proficiency, ranked #366 of 467 in MN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 134 units permitted in Aitkin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.2% local appreciation)).
• Aitkin County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask is 172% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $38k; list at $130k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $84,031 (35.4% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.58%
• DSCR: 0.62
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $749
• Equity at exit: $60,063

10-year hold

• IRR: 4.2%
• Equity multiple: 1.67×
• Total profit: $24,258
• Equity at exit: $93,836

Cash invested: $36,400 (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 55748

• Home prices YoY: 1.4%
• Active inventory: 26
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$52 /mo · $624/yr
• Insurance: −$54
• HOA: −$326
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-260

Break-even live

Break-even rent $1,410

Max offer price $84,031

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $326 · $3,912/yr
• Likely covers: pool

Listing history 26 events

1. 2026-06-18
   days on market $130,000 Active 21 DOM
2. 2026-06-17
   days on market $130,000 Active 20 DOM
3. 2026-06-16
   days on market $130,000 Active 19 DOM
4. 2026-06-15
   days on market $130,000 Active 18 DOM
5. 2026-06-13
   days on market $130,000 Active 16 DOM
6. 2026-06-12
   days on market $130,000 Active 15 DOM
7. 2026-06-09
   days on market $130,000 Active 12 DOM
8. 2026-06-08
   days on market $130,000 Active 11 DOM
9. 2026-06-07
   days on market $130,000 Active 10 DOM
10. 2026-06-05
    days on market $130,000 Active 8 DOM
11. 2026-06-04
    days on market $130,000 Active 6 DOM
12. 2026-06-02
    days on market $130,000 Active 5 DOM
13. 2026-06-01
    days on market $130,000 Active 4 DOM
14. 2026-05-31
    days on market $130,000 Active 3 DOM
15. 2026-05-31
    days on market $130,000 Active 2 DOM
16. 2026-05-22
    historical $130,000
17. 2019-06-17
    soldstatus $38,000 Sold 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

18. 2019-05-30
    status Pending 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

19. 2018-04-09
    status Active 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

20. 2018-04-01
    price $44,000 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

21. 2018-03-31
    historical 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

22. 2017-06-27
    listed $47,777 Active 207-char remark

    Show marketing remark (207 chars)

    Awesome townhouse at Quadna Resort. Dual heating system, close to all the trails. Access to 906 acre Hill Lake for great fishing. Golf course (for a fee), swimming pools. Association Fees of $248 per month.

23. 2017-04-30
    historical
24. 2016-11-01
    status Active
25. 2016-10-31
    historical
26. 2016-08-03
    listed $47,777 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: $624 · $52/mo
• Projected year-2 tax: $1,040 · $87/mo
• Expected delta: +$416/yr (+$35/mo · 66.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,967
• − Mortgage interest: −$7,282
• − Property taxes: −$624
• − Insurance: −$650
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − HOA: −$3,912
• − Depreciation: −$3,782
• Taxable loss: −$5,357
• Est. tax savings @ 24.0%: +$1,286
• After-tax cash flow: $-1,837/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

Fair 45/100 Moderate rehab

This townhouse requires moderate renovations, focusing on the worn wooden deck and kitchen appliances. Upgrading these areas will significantly enhance its resale and rental value.

Repairs flagged

• Major Wooden deck — Severe wear and tear
• Major Kitchen — No photos, but implied by listing

Value-add opportunities

• Both Replace wooden deck — Enhances curb appeal and functionality
• Both Update kitchen appliances — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Wooden deck · Severe wear and tear	Major	$15,000–50,000
Kitchen · No photos, but implied by listing	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Replace wooden deck — Enhances curb appeal and functionality ↑
• Both Update kitchen appliances — Improves functionality and aesthetics ↑

ⓘ 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: Hill City Public School District
• NCES district ID: 2714010
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $38,766
• Composite: 35.83/100
• National rank: #9612
• State rank: #366 of 467 in MN

Livability — Hill City

• Score: 69/100
• State rank: #360
• US rank: #8412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hill City, MN
• City population: 1,429
• Population (ZIP): 1,429

Population outlook (Aitkin County) Hauer SSP2

• Today (2025): 14,340 people
• By 2030: 13,514 · -5.8%
• By 2040: 11,928 · -16.8%
• By 2050: 10,804 · -24.7%
• By 2075: 9,555 · -33.4%
• By 2100: 8,380 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Portuguese 10% Romanian 8% Lithuanian 3%
• Foreign-born: 0%

Political lean MEDSL · Aitkin

• 2024 margin: Solid R (+30.9) · D 33.8% · R 64.7% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: 0.1pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.4 2016: R+25.9 2012: R+1.3 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.22%
• Current HPI: 241.4653
• 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

+172.1% since first listed

11 events — show timeline

• 2026-05-22 Coming Soon $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-17 Sold (MLS) $38,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-01 Price Changed $44,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-27 Listed $47,777 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-03 Listed $47,777 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+15.6%/yr

Latest (2026): $624 · +8.3% YoY. Source: county tax records.