3813 Patriot Ln · Lexington, MN 55014

$60,000

3 bd · 1.0 ba · 896 sqft · Manufactured public records · 65 Days on market

Built 2004 Fair condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming and well-maintained 3 bedroom mobile home offering comfortable living at an affordable price. Priced at $60,000, this home features a living area, a functional kitchen with plenty of storage, and a private primary suite with its own bathroom. The second bedroom is perfect for guests, kids, or a home office. Located in a friendly, well kept community with a lot rent of $750 per month, this home provides low-maintenance living and great value. Bright and open living space, Monthly lot rent includes water and garbage and sewer, $750. Move-in ready & affordable Schedule your showing today and see everything this cozy home has to offer!

Key facts

• Built 2004
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#38 in MN, #1,096 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Centennial Public School District (suburban): math 59% / reading 62% proficiency, ranked #26 of 301 in MN (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 3.78% ✓
• Cap rate: 34.77%
• Cash-on-cash: 101.71%
• DSCR: 5.53
• GRM: 2.2

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: —
• Equity multiple: 5.82×
• Total profit: $80,972
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 12.15×
• Total profit: $187,309
• Equity at exit: $5,188

Cash invested: $16,800 (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 55014

• Active inventory: 144
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,424

Break-even live

Break-even rent $467

Max offer price $60,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,458	-5% $1,441	+0% $1,424	+5% $1,407	+10% $1,390
Rent	-10% $1,245	-5% $1,334	+0% $1,424	+5% $1,514	+10% $1,603
Rate	-1.0pp $1,454	-0.5pp $1,439	base $1,424	+0.5pp $1,408	+1.0pp $1,393

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9001 Griggs Ave Circle Pines, MN	2.0	1.0–2.0	761	$2,525	$3.32	0d	24	0.28mi
10124 Lever St NE Circle Pines, MN	1.0–2.0	1.0	750	$1,325	$1.77	0d	1	1.45mi

Listing history 16 events

1. 2026-06-21
   days on market $60,000 Active 65 DOM
2. 2026-06-18
   days on market $60,000 Active 62 DOM
3. 2026-06-17
   days on market $60,000 Active 61 DOM
4. 2026-06-16
   days on market $60,000 Active 60 DOM
5. 2026-06-15
   days on market $60,000 Active 59 DOM
6. 2026-06-13
   days on market $60,000 Active 57 DOM
7. 2026-06-13
   days on market $60,000 Active 56 DOM
8. 2026-06-09
   days on market $60,000 Active 53 DOM
9. 2026-06-08
   days on market $60,000 Active 52 DOM
10. 2026-06-07
    days on market $60,000 Active 51 DOM
11. 2026-06-04
    days on market $60,000 Active 48 DOM
12. 2026-06-03
    days on market $60,000 Active 47 DOM
13. 2026-06-02
    days on market $60,000 Active 46 DOM
14. 2026-06-01
    days on market $60,000 Active 45 DOM
15. 2026-05-31
    days on market $60,000 Active 44 DOM
16. 2026-04-17
    listed $60,000 Active 670-char remark

    Show marketing remark (670 chars)

    Welcome to this charming and well-maintained 3 bedroom mobile home offering comfortable living at an affordable price. Priced at $60,000, this home features a living area, a functional kitchen with plenty of storage, and a private primary suite with its own bathroom. The second bedroom is perfect for guests, kids, or a home office. Located in a friendly, well kept community with a lot rent of $750 per month, this home provides low-maintenance living and great value. Bright and open living space, Monthly lot rent includes water and garbage and sewer, $750. Move-in ready & affordable Schedule your showing today and see everything this cozy home has to offer!

ⓘ 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: $351 · $29/mo
• Projected year-2 tax: $511 · $43/mo
• Expected delta: +$161/yr (+$13/mo · 45.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,232
• − Mortgage interest: −$3,361
• − Property taxes: −$351
• − Insurance: −$300
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − Depreciation: −$1,745
• Taxable income: $17,118
• Est. tax owed @ 24.0%: −$4,108
• After-tax cash flow: $12,978/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to improve its condition and value. Painting, replacing cabinets, fixtures, and carpet can significantly enhance its appeal and marketability.

Repairs flagged

• Minor Kitchen cabinets — Cabinets show some wear and could benefit from a fresh coat of paint.
• Minor Bathroom fixtures — Fixtures appear dated and could be replaced for a fresh look.
• Minor Carpet — Carpet in living areas is worn and could be replaced for a more modern look.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Resale Replace kitchen cabinets — New cabinets can modernize the kitchen and add value.
• Resale Replace bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and value.
• Resale Replace carpet — New carpet can make the living areas more inviting and add value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets show some wear and could benefit from a fresh coat of paint.	Minor	$500–3,000
Bathroom fixtures · Fixtures appear dated and could be replaced for a fresh look.	Minor	$500–3,000
Carpet · Carpet in living areas is worn and could be replaced for a more modern look.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Resale Replace kitchen cabinets — New cabinets can modernize the kitchen and add value. ↑
• Resale Replace bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and value. ↑
• Resale Replace carpet — New carpet can make the living areas more inviting and add value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Centennial Public School District
• NCES district ID: 2708100
• Math proficiency: 59% ▼ -12.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $84,468
• Composite: 54.78/100
• National rank: #1316
• State rank: #26 of 301 in MN

Livability — Lexington

• Score: 82/100
• State rank: #38
• US rank: #1096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, MN
• County: Anoka County · 277,116 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 29,047
• Household income: $103,658
• Rent vs Own: 14.2% rent · 85.8% own
• Severe rent burden: 473.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 4% Asian 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 4%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.50%
• Current HPI: 242.8272
• Rent YoY: —
• 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

1 event — show timeline

• 2026-04-17 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2026): $351 · +17.2% YoY. Source: county tax records.