9997 Hamlet Ln S · Cottage Grove, MN 55016

$270,000

3 bd · 2.5 ba · 1,840 sqft · Townhouse public records · 13 Days on market

Built 2000 1,829 sqft lot $310/mo HOA · 13% of rent

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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 +10.8/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious three bedroom, three bath Cottage Grove townhome. Recently refreshed throughout. Large lower level bedroom with own bathroom. Generous upper level loft that would make a great office or lounge area or relaxing nook. Reasonable HOA fees.

Key facts

• Green space
• Basement
• 3rd bedroom

Tags

• COTTAGE GROVE LOCATION
• SPACIOUS KITCHEN AREA
• BACKYARD DECK
• GREEN SPACE
• BASEMENT
• 3RD BEDROOM

Property features AI

Finance

• HOA & community: HOA managed by Sharper Management; Monthly association fee of $310; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, and snow removal

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Attached property; Two levels; Main entry level present; Above-grade finished area and additional below-grade finished space
• Construction: Block construction; Block foundation; Roof replaced within past 8 years; Built with an 800 sq. ft. foundation area
• Exterior features: Stone exterior; Deck; Porch; No fencing

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms total; Upper-level bedrooms; Lower-level bedroom
• Bathrooms: Upper-level full bathroom; Main-floor half bathroom; Basement three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Deck; Porch; Kitchen window; Washer/dryer hookup; Water softener (owned); Breakfast area; Informal dining area; Separate/formal dining room
• Laundry & utility: Washer; Dryer; Washer/Dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (8.5% below list).
• Recommended offer: $247k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.4% in Cottage Grove — 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 77/100 on livability (#132 in MN, #2,948 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• South Washington County School District (suburban): math 52% / reading 61% proficiency, ranked #40 of 301 in MN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Pine Hill Elementary (math 42% / reading 47%, grade F, #534 of 857 statewide, top 66%, 530 students, 33% FRL); Oltman Middle School (math 36% / reading 54%, grade D, #113 of 258 statewide, top 45%, 969 students, 36% FRL); Park High School (math 39% / reading 63%, grade D+, #127 of 471 statewide, top 27%, 1,938 students, 33% FRL) — zoned schools average 34% FRL vs 14% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 401 active listings in the ZIP; high-income renter base; 1,405 units permitted in Washington 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 $8k of value loss. Plan a longer hold.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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 $247,152 (8.5% 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 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?
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: 0.92% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-49,501
• Equity at exit: $40,258

10-year hold

• IRR: -9.1%
• Equity multiple: 0.41×
• Total profit: $-44,414
• Equity at exit: $23,345

Cash invested: $75,600 (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 55016

• Rents YoY: 3.8%
• Active inventory: 401
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,472 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$238 /mo · $2,852/yr
• Insurance: −$112
• HOA: −$310
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-124

Break-even live

Break-even rent $2,628

Max offer price $248,170

Occupancy floor 100%

Sensitivity live

Price	-10% $29	-5% $-47	+0% $-124	+5% $-200	+10% $-276
Rent	-10% $-319	-5% $-221	+0% $-124	+5% $-26	+10% $72
Rate	-1.0pp $12	-0.5pp $-55	base $-124	+0.5pp $-194	+1.0pp $-265

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $310 · $3,720/yr

Listing history 26 events

1. 2026-05-12
   status Pending
2. 2026-04-30
   historical Contingent - Subject to Statutory Rescission
3. 2026-04-29
   listed $270,000 Active
4. 2023-01-27
   soldstatus $245,000
5. 2023-01-26
   soldstatus $245,000 Sold 245-char remark

   Show marketing remark (245 chars)

   Spacious three bedroom, three bath Cottage Grove townhome. Recently refreshed throughout. Large lower level bedroom with own bathroom. Generous upper level loft that would make a great office or lounge area or relaxing nook. Reasonable HOA fees.

6. 2022-12-31
   historical Contingent - Inspection 245-char remark

   Show marketing remark (245 chars)

   Spacious three bedroom, three bath Cottage Grove townhome. Recently refreshed throughout. Large lower level bedroom with own bathroom. Generous upper level loft that would make a great office or lounge area or relaxing nook. Reasonable HOA fees.

7. 2022-12-16
   price $249,900 245-char remark

   Show marketing remark (245 chars)

   Spacious three bedroom, three bath Cottage Grove townhome. Recently refreshed throughout. Large lower level bedroom with own bathroom. Generous upper level loft that would make a great office or lounge area or relaxing nook. Reasonable HOA fees.

8. 2022-12-02
   listed $259,900 Active 245-char remark

   Show marketing remark (245 chars)

   Spacious three bedroom, three bath Cottage Grove townhome. Recently refreshed throughout. Large lower level bedroom with own bathroom. Generous upper level loft that would make a great office or lounge area or relaxing nook. Reasonable HOA fees.

9. 2012-02-16
   soldstatus $95,000 104-char remark

   Show marketing remark (104 chars)

   Nice townhome in a great location, 2 plus bedrooms and loft, 2 car garage in good condition. Must See!!!

10. 2012-01-12
    historical 104-char remark

    Show marketing remark (104 chars)

    Nice townhome in a great location, 2 plus bedrooms and loft, 2 car garage in good condition. Must See!!!

11. 2011-12-14
    listed $90,000 104-char remark

    Show marketing remark (104 chars)

    Nice townhome in a great location, 2 plus bedrooms and loft, 2 car garage in good condition. Must See!!!

12. 2011-01-17
    historical
13. 2010-06-03
    listed $129,900
14. 2008-05-01
    soldstatus $164,000
15. 2008-04-24
    soldstatus $164,000
16. 2008-03-20
    historical
17. 2008-03-06
    listed $169,900
18. 2008-02-29
    historical
19. 2008-01-09
    listed $173,900
20. 2003-07-18
    soldstatus $159,900
21. 2003-07-18
    soldstatus $159,900
22. 2003-04-11
    historical
23. 2003-04-07
    listed $159,900
24. 2000-11-30
    soldstatus $131,990
25. 2000-11-30
    soldstatus $25,000
26. 2000-11-01
    soldstatus $128,400

ⓘ 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: $2,852 · $238/mo
• Projected year-2 tax: $2,938 · $245/mo
• Expected delta: +$86/yr (+$7/mo · 3.0%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,658
• − Mortgage interest: −$15,124
• − Property taxes: −$2,852
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − HOA: −$3,720
• − Depreciation: −$7,855
• Taxable loss: −$5,988
• Est. tax savings @ 24.0%: +$1,437
• After-tax cash flow: $-46/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: South Washington County School District
• NCES district ID: 2733810
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $88,285
• Composite: 51.8/100
• National rank: #1670
• State rank: #40 of 301 in MN

Livability — Cottage Grove

• Score: 77/100
• State rank: #132
• US rank: #2948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cottage Grove, MN
• County: Washington County · 235,613 people
• City population: 40,695
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 40,695
• Household income: $120,715
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 323.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 278,554 people
• By 2030: 290,465 · +4.3%
• By 2040: 310,014 · +11.3%
• By 2050: 324,118 · +16.4%
• By 2075: 362,697 · +30.2%
• By 2100: 381,491 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 8% Hispanic / Latino 7% Asian 7% Black 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 10% Lithuanian 4% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 87% English-only · Other Asian/Pacific 5% Spanish 4% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Lean D (+8.9) · D 53.5% · R 44.6% · Other 1.9%
• 2008→2024 swing: +4.6pp toward D · 2008: 4.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+9.2 2016: D+1.9 2012: D+0.8 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -258.55%
• Current HPI: 241.1084
• Rent YoY: ▲ 3.78%
• 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

+110.3% since first listed

26 events — show timeline

• 2026-05-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-27 Sold (Public Records) $245,000 Public Records
• 2023-01-26 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-31 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-16 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-02 Listed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-16 Sold (MLS) $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-01-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-12-14 Listed $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-03 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-01 Sold (Public Records) $164,000 Public Records
• 2008-04-24 Sold (MLS) $164,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-06 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-09 Listed $173,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-18 Sold (Public Records) $159,900 Public Records
• 2003-07-18 Sold (MLS) $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-07 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-11-30 Sold (Public Records) $25,000 Public Records
• 2000-11-30 Sold (Public Records) $131,990 Public Records
• 2000-11-01 Sold (MLS) $128,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $2,852 · -6.8% YoY. Source: county tax records.