46649 Cambridge Dr · Harris, MN 55080

$349,000

2 bd · 1.0 ba · 706 sqft · SingleFamily public records · 26 Days on market

Built 1965 6,446 sqft lot

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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 +14.1/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.3/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Yr round lake home only 1 hour from the cities! Gorgeous private lot w/gorgeous lake views. Great flr plan w/newer dk on 3 sides, 2 story 2 car garage & 14x20 workshop. Lots of storage + cedar closet on 2nd flr. Good fishing lake! Owner/Agent.

Key facts

• 6,446 sq ft lot
• 2 garage spots
• Built 1965

Property features AI

Finance

• Other: Additional parcels included; Other structures: garage(s)

Exterior

• Parking: Insulated 2-car garage
• Utilities: Well water; Propane fuel; Circuit breaker electrical service; Septic system (compliant)
• Home design: Residential property; One level; Main-floor primary bedroom; Brick/mortar foundation
• Construction: Block construction; Asphalt roof; Built with a 720 sq ft foundation area
• Exterior features: Vinyl exterior; Accessible shoreline; Medium tree coverage; Lot dimensions approximately 47 x 129 x 50 x 129; 150 feet lake frontage

Interior

• Kitchen: Range; Refrigerator; Microwave; Dishwasher
• Bedrooms: 2 bedrooms total; Main-level bedroom: 12x11; Main-level bedroom 2: 12x9
• Bathrooms: Main-level full bathroom; Lower-level 3/4 bathroom with walk-in shower; Bathroom dimensions: Main 8x6, Lower 4x7
• Heating & cooling: Forced air heating; Fireplace(s) heat source; Wood-burning fireplace (1); Window air conditioning units
• Interior features: Ceiling fans; Natural woodwork; Finished, walkout block basement; Main floor primary bedroom; Patio; Deck; Dock
• Laundry & utility: Lower-level laundry room (10x7); Washer hookup; Electric dryer hookup; Washer/Dryer hookup noted; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $53 ($642/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (19.8% below list).
• Recommended offer: $280k (19.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#761 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living B+; Watch: schools F, amenities F, commute F.
• Cambridge-Isanti Public School District (town): math 47% / reading 55% proficiency, ranked #96 of 301 in MN (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 362 units permitted in Chisago County in 2024 (121 in 5+ unit buildings).

Forward outlook

• 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.
• Chisago County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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.

Recommended offer $279,781 (19.8% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-53,261
• Equity at exit: $52,037

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-42,457
• Equity at exit: $30,175

Cash invested: $97,720 (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 55080

• Home prices YoY: -5.9%
• Active inventory: 31
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,798 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $53

Break-even live

Break-even rent $2,730

Max offer price $349,000

Occupancy floor 93%

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-02
   status $349,000 Pending 26 DOM
2. 2026-06-01
   days on market $349,000 Contingent - Inspection 26 DOM
3. 2026-05-31
   days on market $349,000 Contingent - Inspection 25 DOM
4. 2026-05-11
   historical Contingent - Inspection 1129-char remark
5. 2026-05-07
   listed $349,000 Active 1129-char remark
6. 2026-04-30
   historical $349,000 1129-char remark
7. 2004-07-15
   soldstatus $206,000
8. 2004-07-01
   soldstatus $206,000 247-char remark

   Show marketing remark (247 chars)

   Yr round lake home only 1 hour from the cities! Gorgeous private lot w/gorgeous lake views. Great flr plan w/newer dk on 3 sides, 2 story 2 car garage & 14x20 workshop. Lots of storage + cedar closet on 2nd flr. Good fishing lake! Owner/Agent.

9. 2004-06-10
   historical 247-char remark

   Show marketing remark (247 chars)

   Yr round lake home only 1 hour from the cities! Gorgeous private lot w/gorgeous lake views. Great flr plan w/newer dk on 3 sides, 2 story 2 car garage & 14x20 workshop. Lots of storage + cedar closet on 2nd flr. Good fishing lake! Owner/Agent.

10. 2004-05-11
    listed $219,000 247-char remark

    Show marketing remark (247 chars)

    Yr round lake home only 1 hour from the cities! Gorgeous private lot w/gorgeous lake views. Great flr plan w/newer dk on 3 sides, 2 story 2 car garage & 14x20 workshop. Lots of storage + cedar closet on 2nd flr. Good fishing lake! Owner/Agent.

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $3,041 · $253/mo
• Expected delta: +$867/yr (+$72/mo · 39.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,574
• − Mortgage interest: −$19,549
• − Property taxes: −$2,174
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,686
• − Management: −$2,686
• − Depreciation: −$10,153
• Taxable loss: −$5,419
• Est. tax savings @ 24.0%: +$1,301
• After-tax cash flow: $1,943/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: Cambridge-Isanti Public School District
• NCES district ID: 2707410
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 55% ▼ -7.00%
• Median HH income: $61,340
• Composite: 44.67/100
• National rank: #2764
• State rank: #96 of 301 in MN

Livability — Harris

• Score: 60/100
• State rank: #761
• US rank: #18834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,353
• Population (ZIP): 3,281

Population outlook (Chisago County) Hauer SSP2

• Today (2025): 55,187 people
• By 2030: 55,036 · -0.3%
• By 2040: 53,293 · -3.4%
• By 2050: 49,157 · -10.9%
• By 2075: 38,399 · -30.4%
• By 2100: 24,646 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 9% Romanian 8% Scottish 3%
• Foreign-born: 1% · South Korea

Political lean MEDSL · Chisago

• 2024 margin: Solid R (+31.4) · D 33.5% · R 64.9% · Other 1.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -10.3pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.2 2016: R+30.5 2012: R+12.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.23%
• Current HPI: 336.3158
• 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

+68.0% since first listed

9 events — show timeline

• 2026-06-02 Sold (MLS) $368,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $349,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $349,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-15 Sold (Public Records) $206,000 Public Records
• 2004-07-01 Sold (MLS) $206,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-11 Listed $219,000 NORTHSTARMLS as Distributed by MLS Grid