1708 Laurel St · Brainerd, MN 56401

$132,000

4 bd · 5.0 ba · 1,356 sqft · SingleFamily public records · 66 Days on market

Built 1919 0.34 ac lot $97/sqft · 48% below area Est $260k · 49% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a setting! Nice corner lot, large deck, detached 2 car garage. Home has 2 porches! Tons of charm and opportunity await. Bring your ideas and make this home yours!

Key facts

• Large deck
• 2 porches
• Corner lot

Tags

• CORNER LOT
• LARGE DECK
• DETACHED GARAGE
• 2 PORCHES

What this means for you Summary

Snapshot

• This is a 4-bed/5.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $124k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.1% in Brainerd — 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 72/100 on livability (#272 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Brainerd Public School District (town): math 49% / reading 58% proficiency, ranked #85 of 301 in MN (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 401 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $913 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $18k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 6.5

CMA / ARV

• ARV (median comp): $259,610
• List price: $132,000
• Delta: -49.15%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $7,100
• Equity at exit: $19,682

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $42,902
• Equity at exit: $11,413

Cash invested: $36,960 (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 56401

• Active inventory: 401
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,693 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$143 /mo · $1,718/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $447

Break-even live

Break-even rent $1,127

Max offer price $132,000

Occupancy floor 69%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $132,000 Active 66 DOM
2. 2026-06-18
   days on market $132,000 Active 65 DOM
3. 2026-06-17
   days on market $132,000 Active 64 DOM
4. 2026-06-16
   days on market $132,000 Active 63 DOM
5. 2026-06-16
   price $132,000 Active 62 DOM
6. 2026-06-15
   days on market $140,000 Active 62 DOM
7. 2026-06-14
   days on market $140,000 Active 60 DOM
8. 2026-06-12
   days on market $140,000 Active 59 DOM
9. 2026-06-09
   days on market $140,000 Active 56 DOM
10. 2026-06-08
    days on market $140,000 Active 55 DOM
11. 2026-06-07
    days on market $140,000 Active 54 DOM
12. 2026-06-05
    days on market $140,000 Active 51 DOM
13. 2026-06-02
    days on market $140,000 Active 49 DOM
14. 2026-06-01
    days on market $140,000 Active 48 DOM
15. 2026-05-31
    days on market $140,000 Active 47 DOM
16. 2026-05-30
    days on market $140,000 Active 46 DOM
17. 2026-05-13
    price $140,000 167-char remark

    Show marketing remark (167 chars)

    What a setting! Nice corner lot, large deck, detached 2 car garage. Home has 2 porches! Tons of charm and opportunity await. Bring your ideas and make this home yours!

18. 2026-04-13
    listed $150,000 Active 167-char remark

    Show marketing remark (167 chars)

    What a setting! Nice corner lot, large deck, detached 2 car garage. Home has 2 porches! Tons of charm and opportunity await. Bring your ideas and make this home yours!

19. 2022-12-12
    soldstatus $114,312
20. 2022-12-12
    soldstatus $128,752
21. 2022-12-07
    soldstatus $128,750 Sold 230-char remark

    Show marketing remark (230 chars)

    Don't miss your chance at this large 3 bedroom, 2 bath home in the heart of Brainerd with plenty of investment potential. This home is situated on a large corner lot near schools, restaurants and shopping. Book your showing today!

22. 2022-11-09
    status Pending 230-char remark

    Show marketing remark (230 chars)

    Don't miss your chance at this large 3 bedroom, 2 bath home in the heart of Brainerd with plenty of investment potential. This home is situated on a large corner lot near schools, restaurants and shopping. Book your showing today!

23. 2022-08-10
    listed $129,900 Active 230-char remark

    Show marketing remark (230 chars)

    Don't miss your chance at this large 3 bedroom, 2 bath home in the heart of Brainerd with plenty of investment potential. This home is situated on a large corner lot near schools, restaurants and shopping. Book your showing today!

24. 2022-05-12
    soldstatus $114,311
25. 2022-05-10
    soldstatus $85,000
26. 2020-12-14
    soldstatus $65,000 Sold
27. 2020-11-17
    status Pending
28. 2020-10-01
    historical Contingent - Inspection
29. 2020-09-25
    listed $75,000 Active
30. 2017-06-27
    soldstatus $70,000
31. 2014-03-26
    soldstatus $36,750 Sold
32. 2014-01-24
    historical
33. 2013-11-01
    listed $42,900

ⓘ 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: $1,718 · $143/mo
• Projected year-2 tax: $1,718 · $143/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 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: $20,317
• − Mortgage interest: −$7,394
• − Property taxes: −$1,718
• − Insurance: −$660
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$3,840
• Taxable income: $3,454
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $4,537/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: Brainerd Public School District
• NCES district ID: 2706090
• Math proficiency: 49% ▼ -13.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $49,059
• Composite: 45.57/100
• National rank: #2596
• State rank: #85 of 301 in MN

Livability — Brainerd

• Score: 72/100
• State rank: #272
• US rank: #5889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brainerd, MN
• County: Crow Wing County · 40,773 people
• City population: 31,841
• Metro: Brainerd, MN
• Population (ZIP): 31,841
• Household income: $73,128
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 454.0

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 2% Hispanic / Latino 2% Native American 1%
• Common ancestry: Portuguese 12% Romanian 6% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.09%
• Current HPI: 220.3299
• Rent YoY: —
• Metro: Brainerd, 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

+226.3% since first listed

17 events — show timeline

• 2026-05-13 Price Changed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-12 Sold (Public Records) $128,752 Public Records
• 2022-12-12 Sold (Public Records) $114,312 Public Records
• 2022-12-07 Sold (MLS) $128,750 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-10 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-12 Sold (Public Records) $114,311 Public Records
• 2022-05-10 Sold (Public Records) $85,000 Public Records
• 2020-12-14 Sold (MLS) $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-25 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-27 Sold (Public Records) $70,000 Public Records
• 2014-03-26 Sold (MLS) $36,750 NORTHSTARMLS as Distributed by MLS Grid
• 2014-01-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-01 Listed $42,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2025): $1,718 · -1.3% YoY. Source: county tax records.