13492 Edgewood Ln SE · Mentor, MN 56736

$185,000

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 26 Days on market

Built 2012 1.59 ac lot $194/sqft · 58% below area $25/mo HOA · 2% of rent

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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).

• Appreciation +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Cash flow +4.6/30.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks

Association no longer has dock space. Discover the perfect blend of comfort and convenience with this delightful 2-bedroom, 1-bathroom home nestled on 1.5 acres right next to the serene Maple Lake. Whether you're seeking a year-round residence or a cozy weekend getaway, this property has something for everyone. Enjoy the benefits of association access to a beautiful beach. The spacious lot offers a get away and room to enjoy outdoor activities. This charming home combines access to Maple Lake with the potential for year-round enjoyment. Don't miss your chance to own a slice of tranquility!

Key facts

• Spacious lot
• Access to maple lake
• 1.59 acre lot

Tags

• SPACIOUS LOT
• ACCESS TO MAPLE LAKE

Property features AI

Finance

• Other: Lot approximately 1.593 acres (dimensions 154 x 444 x 150 x 481); City street frontage
• HOA & community: Member of Shalom Estates Association Inc; Annual association fee of $300 (includes beach access, professional management, and shared amenities)

Exterior

• Parking: Gravel parking area; 2-car detached garage (25 x 25)
• Utilities: Well water; Mound septic system; Electric service
• Home design: Residential property; One-story home; Entry and living areas on main level; Facing direction not specified
• Construction: Shingle roof (over 8 years old); 952 sq ft foundation area
• Exterior features: Wood exterior; Patio; Association access to waterfront; Storage shed; Garage(s)

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Baseboard heat; Ductless mini-split heating and cooling
• Interior features: Ceiling fan(s); Main floor primary bedroom; Patio; Stainless steel appliances
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-473 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (45.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (45.2% below list).
• Recommended offer: $101k (45.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#827 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: health & safety D+, amenities F, commute F.
• Fertile-Beltrami School District (rural): math 55% / reading 64% proficiency, ranked #47 of 301 in MN (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fertile-Beltrami Elementary (math 57% / reading 72%, grade B, #130 of 857 statewide, top 18%, 260 students, 50% FRL); Fertile-Beltrami Secondary (math 52% / reading 57%, grade C-, #87 of 471 statewide, top 22%, 244 students, 37% FRL) — zoned schools average 43% FRL vs 22% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 42 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (8.8% local appreciation)).
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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.
• Current owner paid $145k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,308 (45.2% 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.55% ✗
• Cap rate: 3.23%
• Cash-on-cash: -10.95%
• DSCR: 0.51
• GRM: 15.2

CMA / ARV

• ARV (median comp): $444,708
• List price: $185,000
• Delta: -58.40%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

8.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 2.08×
• Total profit: $55,747
• Equity at exit: $150,788

10-year hold

• IRR: 13.8%
• Equity multiple: 4.57×
• Total profit: $185,017
• Equity at exit: $309,643

Cash invested: $51,800 (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 56736

• Home prices YoY: 5.0%
• Active inventory: 25
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$201 /mo · $2,408/yr
• Insurance: −$77
• HOA: −$25
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-473

Break-even live

Break-even rent $1,611

Max offer price $101,517

Occupancy floor —

Sensitivity live

Price	-10% $-368	-5% $-420	+0% $-473	+5% $-525	+10% $-577
Rent	-10% $-553	-5% $-513	+0% $-473	+5% $-433	+10% $-393
Rate	-1.0pp $-379	-0.5pp $-426	base $-473	+0.5pp $-521	+1.0pp $-569

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 26 events

1. 2026-06-09
   statusdays on market $185,000 Pending 26 DOM
2. 2026-06-08
   days on market $185,000 Contingent - Subject to Statutory Rescission 25 DOM
3. 2026-06-07
   days on market $185,000 Contingent - Subject to Statutory Rescission 24 DOM
4. 2026-06-04
   days on market $185,000 Contingent - Subject to Statutory Rescission 20 DOM
5. 2026-06-02
   days on market $185,000 Contingent - Subject to Statutory Rescission 19 DOM
6. 2026-06-01
   days on market $185,000 Contingent - Subject to Statutory Rescission 18 DOM
7. 2026-05-31
   days on market $185,000 Contingent - Subject to Statutory Rescission 17 DOM
8. 2026-05-31
   days on market $185,000 Contingent - Subject to Statutory Rescission 16 DOM
9. 2026-05-17
   historical Contingent - Inspection 596-char remark
10. 2026-05-14
    listed $185,000 Active 596-char remark
11. 2026-05-14
    historical
12. 2026-03-11
    status Active
13. 2025-06-20
    listed $225,000 Active
14. 2025-06-20
    historical
15. 2025-04-17
    listed $250,000 Active
16. 2025-04-17
    historical
17. 2025-02-06
    listed $280,000 Active
18. 2025-02-04
    historical
19. 2025-02-04
    historical
20. 2024-09-30
    price $300,000
21. 2024-09-16
    listed $315,000 Active
22. 2020-03-31
    soldstatus $145,000
23. 2017-11-07
    listed $140,000
24. 2015-07-01
    soldstatus
25. 2015-07-01
    listed $150,000
26. 2015-06-29
    soldstatus $150,000

ⓘ 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: $2,408 · $201/mo
• Projected year-2 tax: $2,408 · $201/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,157
• − Mortgage interest: −$10,363
• − Property taxes: −$2,408
• − Insurance: −$925
• − Repairs & maintenance: −$973
• − Management: −$973
• − HOA: −$300
• − Depreciation: −$5,382
• Taxable loss: −$9,166
• Est. tax savings @ 24.0%: +$2,200
• After-tax cash flow: $-3,471/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: Fertile-Beltrami School District
• NCES district ID: 2711910
• Math proficiency: 55% ▼ -9.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $52,616
• Composite: 50.88/100
• National rank: #1792
• State rank: #47 of 301 in MN

Livability — Mentor

• Score: 57/100
• State rank: #827
• US rank: #21637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 670

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Portuguese 49% Lithuanian 11% Scottish 5%
• Foreign-born: 1%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.80%
• Current HPI: 186.0436
• 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

+23.3% since first listed

16 events — show timeline

• 2026-06-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-11 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-20 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-17 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-06 Listed $280,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-04 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-30 Price Changed $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-16 Listed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-31 Sold (Public Records) $145,000 Public Records
• 2015-06-29 Sold (Public Records) $150,000 Public Records

Property tax history

+4.3%/yr

Latest (2026): $2,408 · -2.5% YoY. Source: county tax records.