2058 Pine Knoll Rd · Mora, MN 55051

$259,900

3 bd · 1.0 ba · 938 sqft · Manufactured public records · 48 Days on market

Built 1970 0.50 ac 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 +8.1/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.8/10.0

Listing remarks MLS

Charming 3BR, 1BA lake home on Knife Lake—perfect for making lasting memories. Enjoy lake views from the large platform deck, ideal for morning coffee or summer cookouts. Interior and exterior has been fully remodeled for comfort and style. The bonus area includes a bathroom with a tile shower, sink, washer/dryer hookup, water heater. The main open area has a sink, fridge, oven and microwave hook ups (but no appliances) . No heat, but It is wired for a mini split and baseboard heat. Located just north of Mora, and a hour north of the metro. Knife Lake is known for its diverse fishery including Walleye, Northern Pike, Largemouth Bass, and Panfish. Whether for seasonal getaways or year-round living, this property offers a rare chance to enjoy lake life at its best.

Key facts

• Fully remodeled
• Two-story lake
• Large platform deck

Tags

• LARGE PLATFORM DECK
• FULLY REMODELED
• ADDITIONAL OUTBUILDING
• TWO-STORY LAKE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (32.4% below list).
• Recommended offer: $176k (32.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 4.0% in Mora — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#207 in MN, #4,362 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, health & safety D+, amenities F.
• Mora Public School District (town): math 44% / reading 58% proficiency, ranked #115 of 301 in MN (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 108 active listings in the ZIP; 59 units permitted in Kanabec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (6.2% local appreciation)).
• Kanabec County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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 48 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $150k; list at $260k implies a 73% gain — meaningful room to come down on a strong offer.

Recommended offer $175,813 (32.4% 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. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.68% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.84×
• Total profit: $61,335
• Equity at exit: $165,840

10-year hold

• IRR: 13.1%
• Equity multiple: 3.64×
• Total profit: $192,160
• Equity at exit: $302,885

Cash invested: $72,772 (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 55051

• Home prices YoY: 2.0%
• Active inventory: 108
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$168 /mo · $2,016/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-250

Break-even live

Break-even rent $2,075

Max offer price $215,681

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-17
   historical Contingent - Sale of Another Property 780-char remark

   Show marketing remark (780 chars)

   Charming 3BR, 1BA lake home on Knife Lake—perfect for making lasting memories. Enjoy lake views from the large platform deck, ideal for morning coffee or summer cookouts. Interior and exterior has been fully remodeled for comfort and style. The bonus area includes a bathroom with a tile shower, sink, washer/dryer hookup, water heater. The main open area has a sink, fridge, oven and microwave hook ups (but no appliances) . No heat, but It is wired for a mini split and baseboard heat. Located just north of Mora, and a hour north of the metro. Knife Lake is known for its diverse fishery including Walleye, Northern Pike, Largemouth Bass, and Panfish. Whether for seasonal getaways or year-round living, this property offers a rare chance to enjoy lake life at its best.

2. 2026-05-06
   price $259,900 780-char remark

   Show marketing remark (780 chars)

   Charming 3BR, 1BA lake home on Knife Lake—perfect for making lasting memories. Enjoy lake views from the large platform deck, ideal for morning coffee or summer cookouts. Interior and exterior has been fully remodeled for comfort and style. The bonus area includes a bathroom with a tile shower, sink, washer/dryer hookup, water heater. The main open area has a sink, fridge, oven and microwave hook ups (but no appliances) . No heat, but It is wired for a mini split and baseboard heat. Located just north of Mora, and a hour north of the metro. Knife Lake is known for its diverse fishery including Walleye, Northern Pike, Largemouth Bass, and Panfish. Whether for seasonal getaways or year-round living, this property offers a rare chance to enjoy lake life at its best.

3. 2026-04-10
   listed $270,000 Active 780-char remark

   Show marketing remark (780 chars)

   Charming 3BR, 1BA lake home on Knife Lake—perfect for making lasting memories. Enjoy lake views from the large platform deck, ideal for morning coffee or summer cookouts. Interior and exterior has been fully remodeled for comfort and style. The bonus area includes a bathroom with a tile shower, sink, washer/dryer hookup, water heater. The main open area has a sink, fridge, oven and microwave hook ups (but no appliances) . No heat, but It is wired for a mini split and baseboard heat. Located just north of Mora, and a hour north of the metro. Knife Lake is known for its diverse fishery including Walleye, Northern Pike, Largemouth Bass, and Panfish. Whether for seasonal getaways or year-round living, this property offers a rare chance to enjoy lake life at its best.

4. 2025-08-29
   soldstatus $150,000 Sold 749-char remark

   Show marketing remark (749 chars)

   Have you been dreaming of a place to just get away from it all? Well, dream no more! This is a fantastic opportunity to own a place on Knife Lake just north of Mora. Knife Lake, is located just north of Mora and known for its diverse fishery, primarily supporting Walleye and Northern Pike, with Largemouth Bass and Panfish as secondary species. It's also a "two-story" lake, meaning it has both cold and warm water areas, supporting species like Lake Trout, Lake Whitefish, Cisco, and Burbot in the deeper, colder waters. The lot has a older mobile home with a 2 car garage. Everything you see will come with the property. There is even a boat and a dock. This is truly a nature lover's dream, come see it soon, this won't last long!!

5. 2025-08-25
   soldstatus $150,000
6. 2025-07-29
   status Pending 749-char remark

   Show marketing remark (749 chars)

   Have you been dreaming of a place to just get away from it all? Well, dream no more! This is a fantastic opportunity to own a place on Knife Lake just north of Mora. Knife Lake, is located just north of Mora and known for its diverse fishery, primarily supporting Walleye and Northern Pike, with Largemouth Bass and Panfish as secondary species. It's also a "two-story" lake, meaning it has both cold and warm water areas, supporting species like Lake Trout, Lake Whitefish, Cisco, and Burbot in the deeper, colder waters. The lot has a older mobile home with a 2 car garage. Everything you see will come with the property. There is even a boat and a dock. This is truly a nature lover's dream, come see it soon, this won't last long!!

7. 2025-07-23
   price $165,000 749-char remark

   Show marketing remark (749 chars)

   Have you been dreaming of a place to just get away from it all? Well, dream no more! This is a fantastic opportunity to own a place on Knife Lake just north of Mora. Knife Lake, is located just north of Mora and known for its diverse fishery, primarily supporting Walleye and Northern Pike, with Largemouth Bass and Panfish as secondary species. It's also a "two-story" lake, meaning it has both cold and warm water areas, supporting species like Lake Trout, Lake Whitefish, Cisco, and Burbot in the deeper, colder waters. The lot has a older mobile home with a 2 car garage. Everything you see will come with the property. There is even a boat and a dock. This is truly a nature lover's dream, come see it soon, this won't last long!!

8. 2025-06-26
   listed $170,000 Active 749-char remark

   Show marketing remark (749 chars)

   Have you been dreaming of a place to just get away from it all? Well, dream no more! This is a fantastic opportunity to own a place on Knife Lake just north of Mora. Knife Lake, is located just north of Mora and known for its diverse fishery, primarily supporting Walleye and Northern Pike, with Largemouth Bass and Panfish as secondary species. It's also a "two-story" lake, meaning it has both cold and warm water areas, supporting species like Lake Trout, Lake Whitefish, Cisco, and Burbot in the deeper, colder waters. The lot has a older mobile home with a 2 car garage. Everything you see will come with the property. There is even a boat and a dock. This is truly a nature lover's dream, come see it soon, this won't last long!!

9. 2000-10-02
   soldstatus $78,000
10. 2000-09-15
    historical
11. 2000-05-12
    listed $87,500

ⓘ 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: $2,016 · $168/mo
• Projected year-2 tax: $2,463 · $205/mo
• Expected delta: +$447/yr (+$37/mo · 22.2%)

ⓘ 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 1/10 Low 7 d/yr ≥97°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: $21,098
• − Mortgage interest: −$14,558
• − Property taxes: −$2,016
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$7,561
• Taxable loss: −$7,713
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $-1,153/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: Mora Public School District
• NCES district ID: 2721480
• Math proficiency: 44% ▼ -15.00%
• Reading proficiency: 58% ▼ -8.00%
• Median HH income: $46,788
• Composite: 43.26/100
• National rank: #3052
• State rank: #115 of 301 in MN

Livability — Mora

• Score: 74/100
• State rank: #207
• US rank: #4362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,927

Population outlook (Kanabec County) Hauer SSP2

• Today (2025): 14,998 people
• By 2030: 14,363 · -4.2%
• By 2040: 12,841 · -14.4%
• By 2050: 11,299 · -24.7%
• By 2075: 8,458 · -43.6%
• By 2100: 6,283 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 10% Scottish 5% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Kanabec

• 2024 margin: Solid R (+42.4) · D 28.1% · R 70.4% · Other 1.5%
• 2008→2024 swing: -33.7pp toward R · 2008: -8.7pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+37.9 2016: R+35.7 2012: R+9.0 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.15%
• Current HPI: 313.18
• 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

+197.0% since first listed

11 events — show timeline

• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-29 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-25 Sold (Public Records) $150,000 Public Records
• 2025-07-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-23 Price Changed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-26 Listed $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-10-02 Sold (Public Records) $78,000 Public Records
• 2000-09-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-05-12 Listed $87,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $2,016 · +2.2% YoY. Source: county tax records.