8951 Twin Point Rd SW #69 · La Grand, MN 56308

$89,500

1 bd · 1.0 ba · 520 sqft · Other · 410 Days on market

Built 1998 $156/mo HOA ↓ 34% since listing

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Why this score? — see what drove the C- 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 +18.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +5.8/10.0
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

Key facts

• Laundry facilities
• Fish cleaning house
• General store

Tags

• SEASONAL CO-OP COMMUNITY
• GENERAL STORE
• LAUNDRY FACILITIES
• SHOWERS
• FISH CLEANING HOUSE
• BOAT SLIP

🏢 Co-op / cooperative unit. The $89,500 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Alexandria Public School District (town): math 55% / reading 57% proficiency, ranked #64 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 402 active listings in the ZIP; solid renter incomes; 285 units permitted in Douglas County in 2024 (88 in 5+ unit buildings).
• This rent is only 17% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Douglas County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 410 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Recommended offer $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 410 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 6.9

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-9,005
• Equity at exit: $13,345

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-450
• Equity at exit: $7,738

Cash invested: $25,060 (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 56308

• Active inventory: 402
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,087 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$156
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $85

Break-even live

Break-even rent $980

Max offer price $89,500

Occupancy floor 87%

Sensitivity live

Price	-10% $146	-5% $115	+0% $85	+5% $54	+10% $23
Rent	-10% $-1	-5% $42	+0% $85	+5% $128	+10% $170
Rate	-1.0pp $130	-0.5pp $107	base $85	+0.5pp $61	+1.0pp $38

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $156 · $1,872/yr
• Likely covers: water

Listing history 9 events

1. 2026-06-02
   days on market $89,500 Active 410 DOM
2. 2026-06-01
   days on market $89,500 Active 409 DOM
3. 2026-05-31
   days on market $89,500 Active 408 DOM
4. 2026-05-30
   days on market $89,500 Active 407 DOM
5. 2026-04-13
   price $89,500 915-char remark

   Show marketing remark (915 chars)

   Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

6. 2026-03-16
   price $94,500 915-char remark

   Show marketing remark (915 chars)

   Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

7. 2025-08-18
   price $99,500 915-char remark

   Show marketing remark (915 chars)

   Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

8. 2025-06-26
   price $125,500 915-char remark

   Show marketing remark (915 chars)

   Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

9. 2025-04-18
   listed $135,000 Active 915-char remark

   Show marketing remark (915 chars)

   Looking for the ideal Up North retreat? Look no further! This SummerSet 400 Series at Lot #69 at Happy's Landing offers affordable lake living ready for making new memories! Enjoy a peaceful and carefree lifestyle on beautiful Lake Lobster, Alexandria MN! Happy's Landing is a seasonal co-op community (open May through mid-October) where properties rarely come on the market. This well-managed Association features convenient amenities including a general store, laundry facilities, showers, and a fish cleaning house. Every property includes a boat slip—owners are responsible for installing and removing their own lifts. Water softener service is also available for just $55 per season. Please note: This is a co-op property. Ownership is conveyed via stock certificate—no real estate is transferred. Priced to sell—don’t miss this rare opportunity to own a slice of summer paradise!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,049
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − HOA: −$1,872
• − Depreciation: −$2,604
• Taxable loss: −$318
• Est. tax savings @ 24.0%: +$76
• After-tax cash flow: $1,091/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: Alexandria Public School District
• NCES district ID: 2703060
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 57% ▼ -9.00%
• Median HH income: $52,476
• Composite: 48.0/100
• National rank: #2197
• State rank: #64 of 301 in MN

Livability — La Grand

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Douglas County · 27,008 people
• Metro: Alexandria, MN
• Population (ZIP): 27,008
• Household income: $78,177
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 550.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 38,913 people
• By 2030: 39,636 · +1.9%
• By 2040: 40,564 · +4.2%
• By 2050: 40,819 · +4.9%
• By 2075: 40,824 · +4.9%
• By 2100: 38,379 · -1.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 22% Lithuanian 3% Romanian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+35.1) · D 31.7% · R 66.8% · Other 1.4%
• 2008→2024 swing: -25.6pp toward R · 2008: -9.5pp · 2024: -35.1pp
• All cycles: 2024: R+35.1 2020: R+32.8 2016: R+35.8 2012: R+15.5 2008: R+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.15%
• Current HPI: 189.1595
• Rent YoY: —
• Metro: Alexandria, MN
• 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

-33.7% since first listed

5 events — show timeline

• 2026-04-13 Price Changed $89,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-18 Price Changed $99,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $125,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-18 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid