2126 175th Ave NE · Ham Lake, MN 55304

$1

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 27 Days on market

Built 1970 0.59 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.1/30.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 4-bedroom, 1-bath home situated on a generous . 59-acre lot. This property features a spacious family room perfect for gatherings, along with an open kitchen and dining area ideal for everyday living. Plenty of outdoor space to enjoy with room to expand, garden, or relaxing on the deck. * This is an auction *

Key facts

• Generous lot
• Deck
• Outdoor space

Tags

• GENEROUS LOT
• SPACIOUS FAMILY ROOM
• OPEN KITCHEN
• OUTDOOR SPACE
• DECK

Property features AI

Exterior

• Parking: 2-car garage (garage approx. 24 x 34)
• Utilities: Well water; Private sewer; Natural gas
• Home design: Residential property; Split entry (bi-level) design; Entry level information not specified; Facing direction not specified
• Construction: Block foundation
• Exterior features: Deck; Lot approximately 0.59 acres; Lot dimensions: 125 x 198 x 120 x 220

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms (mix of upper and lower levels)
• Bathrooms: Upper level full bathroom
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: Partially finished basement; Kitchen/Dining open area

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $426,230 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-989 ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 3.5% vs local median 2.9% in Ham Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#358 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 392 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $13k 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

• It's been on market 27 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 639345.7% of price.

Recommended offer $1

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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.58% ✗
• Cap rate: 3.51%
• Cash-on-cash: -9.94%
• DSCR: 0.56
• GRM: 14.3

CMA / ARV

• ARV (median comp): $426,230
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -34.1%
• Equity multiple: -0.11×
• Total profit: $-131,993
• Equity at exit: $63,552

10-year hold

• IRR: -43.1%
• Equity multiple: -0.64×
• Total profit: $-195,860
• Equity at exit: $36,853

Cash invested: $119,345 (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 55304

• Active inventory: 392

Monthly cashflow live

• Estimated rent: $2,477 medium
• Mortgage (P&I): −$2,235
• Tax est. 1.5%: −$533 /mo · $6,393/yr
• Insurance: −$178
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-989

Break-even live

Break-even rent $3,729

Max offer price $283,183

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: $106,558
• Closing costs: $12,787
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-23
   listed $1 Active 317-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,727
• − Mortgage interest: −$23,876
• − Property taxes: −$6,393
• − Insurance: −$2,131
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$12,399
• Taxable loss: −$19,829
• Est. tax savings @ 24.0%: +$4,759
• After-tax cash flow: $-7,104/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Ham Lake

• Score: 69/100
• State rank: #358
• US rank: #8400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ham Lake, MN
• City population: 49,452
• Population (ZIP): 49,452

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 (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 3% Black 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Asian/Pacific 2% Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -267.68%
• Current HPI: 242.7122
• 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

Property tax history

+5.4%/yr

Latest (2026): $2,521 · +9.5% YoY. Source: county tax records.