157 Mindy Ln #26 · Montrose, MN 55363

$164,900

2 bd · 2.0 ba · 892 sqft · Condo public records · 47 Days on market

Built 1985 $325/mo HOA · 18% 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 +16.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• Appreciation +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is a single-level condo featuring 2 bedrooms and 2 bathrooms. The kitchen provides ample cabinet and counter space, making it very functional. The living and dining areas flow together seamlessly, highlighted by a sliding glass door that opens onto a concrete patio-perfect for relaxation or entertaining guests. The owner's suite includes a private 3/4 bath and a spacious walk-through closet. The second bedroom. conveniently located next to a full bath, is perfect for guests or could serve as an office. Recent updates enhance the appeal of this condo, including newer vinyl plank flooring, all-new doors and casings, updated kitchen cabinets and countertops, new bathroom vanities and tops

Key facts

• Private 3/4 bath
• Concrete patio
• Sliding glass door

Tags

• AMPLE CABINET SPACE
• SLIDING GLASS DOOR
• CONCRETE PATIO
• PRIVATE 3/4 BATH
• WALK-THROUGH CLOSET
• UPDATED KITCHEN CABINETS

Property features AI

Finance

• Other: Shared amenity: Amusement/party room
• HOA & community: Has HOA (County View Estates Board - self managed); Monthly HOA fee of $325; HOA includes: controlled access, hazard insurance, lawn care, grounds maintenance, parking, sewer, shared amenities, snow removal, water, patio

Exterior

• Parking: Parking lot; 1 garage space
• Security: Security lighting (association amenity); Controlled access (included in HOA)
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers (100 Amp); Electric fuel; Power provided by Xcel Energy
• Home design: Attached residential property; More than 2 stories; Entry level/main living on main floor
• Construction: Frame construction; Asphalt pitched roof (age over 8 years); Block foundation
• Exterior features: Patio; Stucco exterior; City street frontage; Public maintained road; Garage(s) on property

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bath; 1 three-quarter bath; Primary bathroom ensuite; Main floor full bath; Main floor three-quarter bath
• Heating & cooling: Radiant heating; Wall unit(s) for cooling
• Interior features: All living facilities on one level; Main floor primary bedroom; Main floor bedroom; Main floor laundry; Renovated; Living/Dining room; Primary bedroom walk-in closet; Walk-in closet
• Laundry & utility: Washer and dryer included; Laundry room on main level; Washer/Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.9% in Montrose — 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 65/100 on livability (#522 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• Buffalo-Hanover-Montrose Public Schools (town): math 52% / reading 56% proficiency, ranked #63 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Montrose Elementary School of Innov (math 47% / reading 47%, grade D-, #492 of 857 statewide, top 61%, 351 students, 48% FRL); Buffalo Community Middle (math 48% / reading 53%, grade C, #72 of 258 statewide, top 29%, 1,142 students, 30% FRL); Buffalo Senior High (math 42% / reading 61%, grade D+, #124 of 471 statewide, top 27%, 1,818 students, 24% FRL) — zoned schools average 34% FRL vs 18% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 50 active listings in the ZIP; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 47 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $165k implies a 560% gain — meaningful room to come down on a strong offer.

Recommended offer $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.57%
• DSCR: 1.11
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.71×
• Total profit: $-13,592
• Equity at exit: $31,690

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,871
• Equity at exit: $26,762

Cash invested: $46,172 (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 55363

• Home prices YoY: -0.7%
• Active inventory: 50
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$69
• HOA: −$325
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $99

Break-even live

Break-even rent $1,725

Max offer price $164,900

Occupancy floor 90%

Sensitivity live

Price	-10% $192	-5% $145	+0% $99	+5% $52	+10% $5
Rent	-10% $-47	-5% $26	+0% $99	+5% $172	+10% $245
Rate	-1.0pp $182	-0.5pp $141	base $99	+0.5pp $56	+1.0pp $13

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-16
   statusdays on market $164,900 Pending 47 DOM
2. 2026-06-15
   days on market $164,900 Active 46 DOM
3. 2026-06-13
   days on market $164,900 Active 44 DOM
4. 2026-06-13
   days on market $164,900 Active 43 DOM
5. 2026-06-09
   days on market $164,900 Active 40 DOM
6. 2026-06-08
   days on market $164,900 Active 39 DOM
7. 2026-06-07
   days on market $164,900 Active 38 DOM
8. 2026-06-04
   days on market $164,900 Active 35 DOM
9. 2026-06-03
   days on market $164,900 Active 34 DOM
10. 2026-06-01
    days on market $164,900 Active 32 DOM
11. 2026-05-31
    days on market $164,900 Active 31 DOM
12. 2026-04-30
    listed $174,900 Active
13. 2012-10-02
    soldstatus $25,000
14. 1990-06-30
    soldstatus $20,000

ⓘ 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: $1,248 · $104/mo
• Projected year-2 tax: $1,547 · $129/mo
• Expected delta: +$299/yr (+$25/mo · 24.0%)

ⓘ 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,195
• − Mortgage interest: −$9,237
• − Property taxes: −$1,248
• − Insurance: −$824
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − HOA: −$3,900
• − Depreciation: −$4,797
• Taxable loss: −$1,363
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $1,512/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: Buffalo-Hanover-Montrose Public Schools
• NCES district ID: 2707200
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -9.00%
• Median HH income: $72,549
• Composite: 48.25/100
• National rank: #2159
• State rank: #63 of 301 in MN

Livability — Montrose

• Score: 65/100
• State rank: #522
• US rank: #12593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montrose, MN
• Population (ZIP): 5,664

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 (81%)
• Race & ethnicity: White 81% Two or more races 16% Hispanic / Latino 11% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -2.05%
• Current HPI: 280.9111
• 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

+774.5% since first listed

3 events — show timeline

• 2026-04-30 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-10-02 Sold (Public Records) $25,000 Public Records
• 1990-06-30 Sold (Public Records) $20,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,248 · +28.7% YoY. Source: county tax records.