33141 Crystal Springs Rd · Grand Rapids, MN 55744

$69,900

3 bd · 1.0 ba · 833 sqft · SingleFamily public records · 5 Days on market

Built 1950 0.36 ac lot

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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 +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer-Upper Cabin close to Pokegma Lake! Located on the south end of Grand Rapids, this classic "Up North" cabin is ready for the next owner's vision. Inside you'll find the original cabin with one bedroom a spacious living room, and a loft, an additional 2 bedrooms and a 3/4 bath off the back, plus a clean basement with utilities and laundry. Many of the major systems have been upgraded including the electric, septic (compliant in 2022), and a newer propane furnace. With some TLC, the cabin and the large open yard would be ready to serve as your adventure base camp! Ride ATVs or snowmobiles directly from the property onto the trail, explore Pokegama Lake, and enjoy everything tha

Key facts

• Upgraded septic
• Upgraded electric
• Pokegma lake

Tags

• POKEGMA LAKE
• SPACIOUS LIVING ROOM
• CLEAN BASEMENT
• UPGRADED ELECTRIC
• UPGRADED SEPTIC
• NEWER PROPANE FURNACE

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: 4-inch submersible water source (well); Private sewer; 100-amp electric service (Grand Rapids Public Utilities); Propane fuel
• Home design: Residential property; One and one-half story
• Construction: Frame construction; Block foundation; Foundation area approximately 811; Foundation dimensions 24x26 and 11x17
• Exterior features: Deck; Partial wood fencing; Storage shed; Lot dimensions approximately 80 x 195 x 75 x 223 on a 0.36-acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Bathrooms: Main-level three-quarter bath
• Heating & cooling: Forced air heating; Window air conditioning unit(s)
• Interior features: Washer and dryer included; Electric water heater; Owned fuel tank (propane); Range; Refrigerator
• Laundry & utility: Laundry area with washer hookup and electric dryer hookup; Laundry room (16x10)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 15.7% vs local median 3.0% in Grand Rapids — 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 80/100 on livability (#81 in MN, #1,911 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Grand Rapids Public School District (town): math 46% / reading 55% proficiency, ranked #119 of 301 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 107 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.83% ✓
• Cap rate: 15.68%
• Cash-on-cash: 33.54%
• DSCR: 2.49
• GRM: 4.6

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: 28.8%
• Equity multiple: 2.20×
• Total profit: $23,519
• Equity at exit: $10,422

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $65,368
• Equity at exit: $6,044

Cash invested: $19,572 (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 55744

• Active inventory: 107
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,277 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $547

Break-even live

Break-even rent $585

Max offer price $69,900

Occupancy floor 52%

Sensitivity live

Price	-10% $587	-5% $567	+0% $547	+5% $527	+10% $507
Rent	-10% $446	-5% $497	+0% $547	+5% $597	+10% $648
Rate	-1.0pp $582	-0.5pp $565	base $547	+0.5pp $529	+1.0pp $510

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-01
   statusdays on market $69,900 Pending 5 DOM
2. 2026-05-31
   days on market $69,900 Active 4 DOM
3. 2026-05-30
   days on market $69,900 Active 3 DOM
4. 2026-05-27
   listed $69,900 Active

ⓘ 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: $798 · $66/mo
• Projected year-2 tax: $798 · $66/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 · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,330
• − Mortgage interest: −$3,915
• − Property taxes: −$798
• − Insurance: −$350
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$2,033
• Taxable income: $5,780
• Est. tax owed @ 24.0%: −$1,387
• After-tax cash flow: $5,177/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: Grand Rapids Public School District
• NCES district ID: 2713170
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $49,762
• Composite: 43.14/100
• National rank: #3077
• State rank: #119 of 301 in MN

Livability — Grand Rapids

• Score: 80/100
• State rank: #81
• US rank: #1911

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,469
• Population (ZIP): 20,469

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Native American 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 14% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.16%
• Current HPI: 166.6788
• Rent YoY: —
• Metro: —
• 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

• 2026-05-27 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+13.0%/yr

Latest (2026): $798 · +2.6% YoY. Source: county tax records.