2259 Cheshire Cir · Mounds View, MN 55112

$30,000

2 bd · 1.0 ba · 933 sqft · SingleFamily · 54 Days on market

Built 1970 Fair condition 6,534 sqft lot $32/sqft · 89% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

All property measurements, dimensions, and related data are deemed reliable but not guaranteed. Buyer shall rely solely on Buyer’s own inspections and due diligence. Property is sold ‘AS IS, ’ with all faults, and Seller disclaims any responsibility for discrepancies in measurements or property details

Key facts

• 6,534 sq ft lot
• Built 1970
• Listed 53 days

Property features AI

Finance

• Other: Lot size approximately 0.15 acres
• Financial info: Property is free and clear
• HOA & community: Land is leased (monthly land lease $515)

Exterior

• Parking: Other parking
• Utilities: City water (in street); City sewer (in street); Xcel Energy power; Natural gas
• Home design: Residential manufactured home; One story
• Construction: 924 sq ft finished main level; Total building area 933; Foundation area 924
• Exterior features: Vinyl exterior

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms (one on the main level, one on the lower level)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dining room on the main level; Living room on the main level; Basement: None

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.0% vs local median 3.2% in Mounds View — 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 82/100 on livability (#44 in MN, #1,223 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A; Watch: amenities F.
• Mounds View Public School District (suburban): math 58% / reading 64% proficiency, ranked #30 of 301 in MN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.1%/yr); 168 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 4.85% ✓
• Cap rate: 43.95%
• Cash-on-cash: 134.50%
• DSCR: 6.98
• GRM: 1.7

CMA / ARV

• ARV (median comp): $276,235
• List price: $30,000
• Delta: -89.14%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.07% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.75×
• Total profit: $56,708
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 16.87×
• Total profit: $133,319
• Equity at exit: $2,594

Cash invested: $8,400 (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 55112

• Rents YoY: 4.1%
• Active inventory: 168
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $942

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 30%

Sensitivity live

Price	-10% $962	-5% $952	+0% $942	+5% $931	+10% $921
Rent	-10% $827	-5% $884	+0% $942	+5% $999	+10% $1,056
Rate	-1.0pp $957	-0.5pp $949	base $942	+0.5pp $934	+1.0pp $926

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7501 Greenfield Ave Saint Paul, MN	2.0	1.0	900	$1,497	$1.66	25d	1	0.91mi
2659 County Road H2 Mounds View, MN	1.0–2.0	1.0	825	$1,489	$1.80	5d	5	0.96mi
7635 Greenfield Ave St Paul, MN	1.0–2.0	1.0	925	$1,600	$1.73	44d	1	1.03mi
2300 County Road I Saint Paul, MN	1.0–2.0	1.0	950	$1,497	$1.58	11d	15	1.09mi
7639 Woodlawn Dr New Brighton, MN	1.0–2.0	1.0	900	$1,475	$1.64	44d	1	1.11mi
7664 Woodlawn Dr Unit 5 Mounds View, MN	2.0	1.0	900	$1,300	$1.44	44d	1	1.15mi
2657 Rice Creek Rd New Brighton, MN	2.0	1.0	967	$1,375	$1.42	5d	1	1.37mi
2651 Mounds View Blvd Unit 2665308 Mounds View, MN	2.0	1.0	861	$1,350	$1.57	44d	1	1.45mi

Listing history 15 events

1. 2026-06-18
   days on market $30,000 Active 54 DOM
2. 2026-06-17
   days on market $30,000 Active 53 DOM
3. 2026-06-16
   days on market $30,000 Active 52 DOM
4. 2026-06-15
   days on market $30,000 Active 51 DOM
5. 2026-06-13
   days on market $30,000 Active 49 DOM
6. 2026-06-13
   days on market $30,000 Active 48 DOM
7. 2026-06-09
   days on market $30,000 Active 45 DOM
8. 2026-06-08
   days on market $30,000 Active 44 DOM
9. 2026-06-07
   days on market $30,000 Active 43 DOM
10. 2026-06-04
    days on market $30,000 Active 40 DOM
11. 2026-06-03
    days on market $30,000 Active 39 DOM
12. 2026-06-02
    days on market $30,000 Active 38 DOM
13. 2026-06-01
    days on market $30,000 Active 37 DOM
14. 2026-05-31
    days on market $30,000 Active 36 DOM
15. 2026-04-26
    listed $30,000 Active 320-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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $17,451
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$873
• Taxable income: $11,505
• Est. tax owed @ 24.0%: −$2,761
• After-tax cash flow: $8,537/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

Fair 45/100 Moderate rehab

The property is in fair condition with significant repairs and maintenance needed. A fresh coat of paint, new flooring, and cleaning will greatly improve its value.

Repairs flagged

• Major Paint — Peeling paint on exterior and interior
• Major Debris — Debris and clutter throughout the property
• Major Flooring — Worn carpet in need of replacement

Value-add opportunities

• Both Paint exterior and interior — Fresh paint can significantly improve curb appeal and interior aesthetics
• Both Replace flooring — New flooring can improve the overall look and feel of the home
• Both Clean and organize the property — A clean and organized property can attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Peeling paint on exterior and interior	Major	$15,000–50,000
Debris · Debris and clutter throughout the property	Major	$15,000–50,000
Flooring · Worn carpet in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint can significantly improve curb appeal and interior aesthetics ↑
• Both Replace flooring — New flooring can improve the overall look and feel of the home ↑
• Both Clean and organize the property — A clean and organized property can attract more buyers and renters ↑

ⓘ 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: Mounds View Public School District
• NCES district ID: 2722950
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $72,492
• Composite: 54.04/100
• National rank: #1390
• State rank: #30 of 301 in MN

Livability — Mounds View

• Score: 82/100
• State rank: #44
• US rank: #1223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mounds View, MN
• County: Ramsey County · 542,837 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,346
• Household income: $93,838
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1134.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 9% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Romanian 5% Scottish 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 6% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -312.77%
• Current HPI: 254.5083
• Rent YoY: ▲ 4.07%
• 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

1 event — show timeline

• 2026-04-26 Listed $30,000 NORTHSTARMLS as Distributed by MLS Grid