11010 Yalta St NE Unit C

Blaine, MN 55449

$349,990D

3 bd · 3.0 ba · 1,760 sqft · Built 2022 · Townhouse · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,955/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$594
• HOA: −$261
• Vac / Maint / Mgmt: −$621
• Net cashflow: $-356/mo
• Annual: $-4,267/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• 1% rule: 0.84%
• Cash to close: $97,997

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $350k. Condition is rated good.
• 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).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $287k (17.9% below list) — sets the bar for cash-flow.
• 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.
• 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.
• Watch-outs: flood insurance adds $125/mo.
• 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).
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• 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.

Questions for listing agent

• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.