157 Mindy Ln #31 · Montrose, MN 55363

$129,900

2 bd · 2.0 ba · 892 sqft · Condo public records · 3 Days on market

Built 1985 $325/mo HOA · 18% of rent

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Why this score? — see what drove the B- 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 +25.5/30.0
• 1% rule +9.2/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 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

Check out this great deal on a two bedroom, two bath condo in Montrose! Possible contract for Deed or lease option. Meticulously kept grounds and landscaping. New W/ D, New AC, second floor condo with a balcony. Don't worry about all the parking noise. All of your windows dace the courtyard. Forget about all that noise from the people above you. your on the top floor. All this plus a single garage. Call Kev today for a showing!

Key facts

• Balcony
• New w d
• New ac

Tags

• METICULOUSLY KEPT GROUNDS
• NEW W D
• NEW AC
• BALCONY
• TOP FLOOR

Property features AI

Finance

• Other: Property has a standard rental license
• HOA & community: Community: Countryview Estates Self Managed; Monthly association fee of $325; HOA covers hazard insurance, lawn care, grounds maintenance, sewer, snow removal, and water

Exterior

• Parking: Assigned parking; 1-car garage with garage door opener; On-site additional parking available for a fee; Electric vehicle charging available
• Utilities: City water (connected); City sewer (connected); Electric service with circuit breakers (fuel: electric); Power provided by Xcel Energy
• Home design: Attached residential property; Two levels; Slab foundation; Entry faces city street
• Construction: Frame construction; Built with stucco exterior
• Exterior features: Stucco exterior; Balcony; Walk-in closet (unit amenity); Cable available

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bath (main floor); 1 three-quarter bath
• Heating & cooling: Baseboard heating; Wall-mounted cooling unit(s)
• Interior features: Informal dining area; Private primary bathroom
• Laundry & utility: In-unit laundry room (main level) with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 9.1% 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.
• Market conditions: 48 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 $898 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.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $129,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 5.9

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,760
• Equity at exit: $24,964

10-year hold

• IRR: 10.6%
• Equity multiple: 1.93×
• Total profit: $33,648
• Equity at exit: $21,082

Cash invested: $36,372 (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: 48
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$54
• HOA: −$325
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $304

Break-even live

Break-even rent $1,465

Max offer price $129,900

Occupancy floor 79%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 4 events

1. 2026-06-18
   days on market $129,900 Active 3 DOM
2. 2026-06-17
   days on market $129,900 Active 2 DOM
3. 2026-06-15
   remarks 431-char remark
4. 2026-06-15
   listed $129,900 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: $1,162 · $97/mo
• Projected year-2 tax: $1,308 · $109/mo
• Expected delta: +$146/yr (+$12/mo · 12.6%)

ⓘ 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: −$7,276
• − Property taxes: −$1,162
• − Insurance: −$650
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − HOA: −$3,900
• − Depreciation: −$3,779
• Taxable income: $1,877
• Est. tax owed @ 24.0%: −$451
• After-tax cash flow: $3,198/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

+777.7% since first listed

3 events — show timeline

• 2026-06-15 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-21 Sold (Public Records) $1,050,000 Public Records
• 1989-11-30 Sold (Public Records) $14,800 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,162 · +32.6% YoY. Source: county tax records.