150 Highway 10 North Site #706

St. Cloud, MN 56304

$81,000B

3 bd · 2.0 ba · 1,056 sqft · Built 2026 · Manufactured · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,318/mo
• Mortgage (P&I): −$425
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $482/mo
• Annual: $5,779/yr
• Cap rate: 13.43%
• Cash-on-cash: 25.48%
• DSCR: 2.13
• 1% rule: 1.63%
• Cash to close: $22,680

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $81k. Condition is rated excellent.
• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $81k).
• It's been on market 41 days — a 3% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $560 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary (math 9% / reading 17%, grade F, #799 of 857 statewide, top 93%, 396 students, 92% FRL); North Junior High (math 17% / reading 32%, grade F, #219 of 258 statewide, top 86%, 708 students, 77% FRL); Apollo Senior High (math 27% / reading 47%, grade F, #282 of 471 statewide, top 63%, 1,225 students, 67% FRL) — zoned schools average 79% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 116 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.4% vs local median 3.9% in St. Cloud — 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.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.