11010 Yalta St NE Unit C · Blaine, MN 55449

$349,990

3 bd · 3.0 ba · 1,760 sqft · Townhouse public records · 1 Days on market

Built 2022 Good condition 1,306 sqft lot $199/sqft · 6% below area Est $375k · 7% under $261/mo HOA · 9% 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 +10.5/15.0
• Cash flow +9.7/30.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• DSCR +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy modern living in this like-new two-story townhome, built in 2022 and located in the desirable North Meadows community. This exceptional townhome blends contemporary style with practical functionality, offering bright and open living spaces throughout. The upper level offers three generously sized bedrooms and a versatile loft that can serve as a home office, reading retreat, fitness area, or playroom. The private owner's suite includes a ¾ bath, while two additional bedrooms and a full bath provide comfortable accommodations for family and guests. The conveniently located upper-level laundry room adds everyday ease, keeping all bedrooms and laundry on the same floor. The main l

Key facts

• Open concept design
• Versatile loft
• Two story townhome

Tags

• TWO STORY TOWNHOME
• NORTH MEADOWS COMMUNITY
• VERSATILE LOFT
• PRIVATE OWNER'S SUITE
• UPPER LEVEL LAUNDRY ROOM
• OPEN CONCEPT DESIGN

Property features AI

Finance

• Other: Lot dimensions approximately 32x44
• HOA & community: HOA managed by Associa; Monthly HOA fee $261 (includes hazard insurance, lawn care, grounds maintenance, professional management, snow removal)

Exterior

• Parking: Attached tuck-under garage; 2 garage spaces (18x21)
• Utilities: City water (connected); City sewer (in street); Natural gas
• Home design: Residential attached property; Two levels; Entry level: Main; Above-grade finished living area: 1,769 total; Main level finished area: 680
• Construction: Asphalt roof (age 8 years or less); Slab foundation; Foundation area: 680
• Exterior features: Stone and vinyl exterior; Porch; In-ground sprinkler; Walk-in closet (primary)

Interior

• Kitchen: Kitchen with center island; Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms; Primary bedroom with walk-in closet (upper level); Bedroom 2 (upper level); Bedroom 3 (upper level)
• Bathrooms: 1 full bathroom (upper level); 1 three-quarter bathroom; 1 half bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Air-to-air exchanger; Humidifier; Water softener (owned); Private primary bath
• Laundry & utility: Washer; Dryer; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $350k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-356 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (15.6% below list).
• Recommended offer: $287k (17.9% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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.
• Spring Lake Park Public Schools (suburban): math 41% / reading 49% proficiency, ranked #162 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $287,168 (17.9% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 9.9

CMA / ARV

• ARV (median comp): $374,663
• List price: $349,990
• Delta: -6.59%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.24×
• Total profit: $-74,870
• Equity at exit: $52,185

10-year hold

• IRR: -12.1%
• Equity multiple: 0.23×
• Total profit: $-75,415
• Equity at exit: $30,261

Cash invested: $97,997 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,955 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$323 /mo · $3,873/yr
• Insurance: −$146
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$261
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $-356

Break-even live

Break-even rent $3,405

Max offer price $287,168

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: $87,498
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Twilite Ter Circle Pines, MN	4.0	2.0	1800	$2,495	$1.39	2d	1	1.32mi
2445 120th Cir NE Blaine, MN	2.0–4.0	2.5–3.5	1894	$3,314	$1.75	2d	19	1.46mi

HOA detail

• Monthly dues: $261 · $3,132/yr

Listing history 17 events

1. 2026-06-18
   status $349,990 Active 1 DOM
2. 2026-06-17
   remarks 692-char remark
3. 2026-06-17
   statusdays on marketlisting id $349,990 Coming Soon 1 DOM
4. 2026-06-07
   days on market $349,990 Active 38 DOM
5. 2026-06-04
   days on market $349,990 Active 35 DOM
6. 2026-06-03
   days on market $349,990 Active 34 DOM
7. 2026-06-02
   days on market $349,990 Active 33 DOM
8. 2026-06-01
   days on market $349,990 Active 32 DOM
9. 2026-05-31
   days on market $349,990 Active 31 DOM
10. 2026-05-01
    listed $359,990 Active 1316-char remark
11. 2026-04-21
    historical $359,990 1316-char remark
12. 2023-07-18
    historical
13. 2023-07-18
    price $309,990
14. 2023-07-11
    price $324,990
15. 2023-06-15
    price $329,990
16. 2023-05-29
    price $332,990
17. 2023-04-30
    listed $340,290 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: $3,873 · $323/mo
• Projected year-2 tax: $3,896 · $325/mo
• Expected delta: +$23/yr (+$2/mo · 0.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,462
• − Mortgage interest: −$19,605
• − Property taxes: −$3,873
• − Insurance: −$3,252
• − Repairs & maintenance: −$2,837
• − Management: −$2,837
• − HOA: −$3,132
• − Depreciation: −$10,182
• Taxable loss: −$10,256
• Est. tax savings @ 24.0%: +$2,461
• After-tax cash flow: $-1,806/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, newer townhome in North Meadows offers a bright, open-concept layout with modern finishes and ample space. Minor exterior painting and AC replacement would further enhance its appeal and value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value.
• Both Replace AC unit — Improves comfort and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value. ↑
• Both Replace AC unit — Improves comfort and energy efficiency. ↑

ⓘ 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: Spring Lake Park Public Schools
• NCES district ID: 2733330
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $65,602
• Composite: 40.11/100
• National rank: #3802
• State rank: #162 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): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

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 (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

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: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+2.9% since first listed

12 events — show timeline

• 2026-06-18 Listed $349,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-16 Coming Soon $349,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-24 Price Changed $349,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $359,990 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-18 Price Changed $309,990 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-11 Price Changed $324,990 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-15 Price Changed $329,990 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-29 Price Changed $332,990 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-30 Listed $340,290 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+158.9%/yr

Latest (2026): $3,873 · +10.6% YoY. Source: county tax records.