5627 Lannon Ave NE · Albertville, MN 55301

$284,500

3 bd · 2.0 ba · 1,693 sqft · SingleFamily public records · 2 Days on market

Built 1987 0.32 ac lot

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.8/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this move in ready 3 bed/ 2 bath home with option for 4th bedroom. Home features new paint and carpet throughout, hardwood floors, eat in kitchen and open concept floor plan . 2 bedrooms up with full bath featuring new LVT. Informal dining walks out to large deck with a semi private back yard. Lower level features large family room and 1 additional bedroom, office and LL 3/4 bath. So much to see in this charming home, just a few blocks from main street.

Key facts

• Spacious lot
• Storage shed
• Large flat backyard

Tags

• SPACIOUS LOT
• LARGE FLAT BACKYARD
• STORAGE SHED
• EXPANSIVE DECK
• CENTER ISLAND KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: Property is listed free and clear

Exterior

• Parking: Attached garage with 2 parking spaces; Garage door opener; Asphalt driveway
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers and 100 amp service
• Home design: Residential split-entry (bi-level) home; Entry level: Main; Above-grade and below-grade finished living areas
• Construction: Block construction; Asphalt roof (over 8 years old); Block foundation
• Exterior features: Deck; Storage shed; Tree coverage - medium; City street frontage with public road maintenance

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen center island; Kitchen window; Stainless steel appliances
• Bedrooms: 3 bedrooms (main and lower levels)
• Bathrooms: One full bathroom on the main floor; One 3/4 bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with walkout and sump pump; Eat-in kitchen and informal dining area; Kitchen with center island and window; Stainless steel appliances
• Laundry & utility: Laundry located on the lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $284k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (2.1% below list).
• Recommended offer: $278k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 4.9% in Albertville — 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 75/100 on livability (#206 in MN, #4,356 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities D, commute F.
• St. Michael-Albertville School District (rural): math 62% / reading 66% proficiency, ranked #17 of 301 in MN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 31y 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.

Recommended offer $278,460 (2.1% 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 A-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: 0.98% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.13%
• DSCR: 1.18
• GRM: 8.5

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-28,611
• Equity at exit: $42,420

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,345
• Equity at exit: $24,598

Cash invested: $79,660 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,785 high
• Mortgage (P&I): −$1,492
• Tax from tax record: −$315 /mo · $3,780/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $274

Break-even live

Break-even rent $2,437

Max offer price $284,500

Occupancy floor 85%

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: $71,125
• Closing costs: $8,535
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5518 Lachman Ave NE Albertville, MN	2.0	2.0	1532	$2,300	$1.50	5d	1	0.47mi
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,269	$1.58	1d	7	0.69mi
10740 County Road 37 NE Albertville, MN	2.0–3.0	1.0–2.0	988	$1,740	$1.76	1d	6	1.12mi
11811 Frankfort Pkwy NE Saint Michael, MN	3.0	1.0–2.0	1017	$2,500	$2.46	1d	13	1.20mi
433 1st St NW Saint Michael, MN	4.0	2.0	1830	$2,669	$1.46	3d	1	1.36mi
11910 Town Center Dr NE Saint Michael, MN	3.0	1.0–2.0	877	$2,364	$2.69	1d	10	1.47mi

Listing history 3 events

1. 2026-06-18
   days on market $284,500 Active 2 DOM
2. 2026-06-17
   remarks 694-char remark
3. 2026-06-17
   listed $284,500 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: $3,780 · $315/mo
• Projected year-2 tax: $3,780 · $315/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,415
• − Mortgage interest: −$15,936
• − Property taxes: −$3,780
• − Insurance: −$1,422
• − Repairs & maintenance: −$2,673
• − Management: −$2,673
• − Depreciation: −$8,276
• Taxable loss: −$1,347
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $3,615/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: St. Michael-Albertville School District
• NCES district ID: 2733790
• Math proficiency: 62% ▼ -13.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $86,897
• Composite: 57.91/100
• National rank: #1042
• State rank: #17 of 301 in MN

Livability — Albertville

• Score: 75/100
• State rank: #206
• US rank: #4356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albertville, MN
• County: Wright County · 79,164 people
• City population: 13,482
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

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 (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

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: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• 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

+201.1% since first listed

31 events — show timeline

• 2026-06-16 Listed $284,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Rental Removed $2,349 Tricon
• 2026-04-17 Listed for Rent $2,349 Tricon
• 2024-06-11 Rental Removed $2,295 NORTHSTARMLS
• 2024-06-10 Rental Removed $2,295 RENT.
• 2024-05-15 Listed for Rent $2,295 NORTHSTARMLS
• 2024-05-01 Rental Removed $2,295 RENTLY
• 2024-05-01 Listed for Rent $2,295 RENT.
• 2024-04-29 Listed for Rent $2,295 RENTLY
• 2024-04-27 Rental Removed $2,295 NORTHSTARMLS
• 2024-04-23 Listed for Rent $2,295 NORTHSTARMLS
• 2023-06-23 Rental Removed — RENTLY
• 2021-09-15 Sold (Public Records) $297,000 Public Records
• 2021-09-01 Sold (MLS) $297,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-29 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-10-02 Sold (Public Records) $159,900 Public Records
• 2002-09-25 Sold (MLS) $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-15 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-12-06 Sold (Public Records) $125,000 Public Records
• 1999-12-06 Sold (MLS) $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-11-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-09-16 Listed $122,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-10-09 Sold (Public Records) $85,000 Public Records
• 1996-05-24 Sold (Public Records) $80,000 Public Records
• 1996-04-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-12-07 Listed $106,500 NORTHSTARMLS as Distributed by MLS Grid
• 1995-06-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-03-11 Listed $94,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $3,780 · +7.4% YoY. Source: county tax records.