12178 Yancy St NE Unit B · Blaine, MN 55449

$275,000

2 bd · 2.0 ba · 1,406 sqft · Townhouse public records · 25 Days on market

Built 2004 1,742 sqft lot $240/mo HOA · 9% 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 +12.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• DSCR +3.8/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WOW Buyers - come take a look now! Newer carpet up, newer paint throughout! Park in your 2 stall garage and walk into the kitchen featuring a center island! Open concept floor plan with a front porch that looks at the pond! Lots of walking trails throughout, and a beach and park are just blocks away! The location is fantastic - close to Hwy 65, with lots of restaurants, and shopping! Come purchase your new home now - most likely cheaper than your rent! Investors - this is a great unit as well!! Located in the sought-after The Lakes of Radisson Community, Crown Meadows HOA. There is an additional Lakes of Radisson Master Association additional yearly fee of $404.

Key facts

• Front porch
• Center island
• Walking trails

Tags

• CENTER ISLAND
• OPEN CONCEPT FLOOR PLAN
• FRONT PORCH
• WALKING TRAILS
• SOUGHT-AFTER COMMUNITY

Property features AI

Finance

• Other: Lot is approximately 24 x 74 with city street frontage, curbs, paved streets, and street lights; road is association maintained
• HOA & community: HOA managed by RG Property Services; Monthly association fee; Association amenities include beach access, dock, and in-ground sprinkler system; Association fee covers beach access, hazard insurance, lawn care, grounds maintenance, professional management, shared amenities, and snow removal

Exterior

• Parking: Attached garage with automatic door opener; 2-car garage (approximately 23 x 19.5, 7' door height, 16' door width)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Attached residential property; Two levels; Entry on main level
• Construction: Block construction; Slab foundation; Built above grade (1,406 finished area total)
• Exterior features: Front porch; Stone and vinyl exterior; Pond on property; No fencing

Interior

• Kitchen: Kitchen with center island; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (one on the upper level)
• Bathrooms: One full bath (upper level); One half bath (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Natural woodwork; Water softener (owned); Air-to-air exchanger; No basement
• Laundry & utility: Upper-level laundry room; Washer and dryer included; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $-32 ($-385/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (7.5% below list).
• Recommended offer: $254k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Spring Lake Park Public Schools (suburban): math 41% / reading 49% proficiency, ranked #162 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodcrest El. Spanish Immersion (math 52% / reading 47%, grade D, #423 of 857 statewide, top 55%, 542 students, 37% FRL); Westwood Intermediate & Middle Sch (math 34% / reading 54%, grade D, #126 of 258 statewide, top 49%, 1,691 students, 49% FRL); Spring Lake Park Senior High (math 47% / reading 32%, grade F, #246 of 471 statewide, top 59%, 1,947 students, 46% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $254,477 (7.5% 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: 0.93% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-42,793
• Equity at exit: $41,003

10-year hold

• IRR: -4.4%
• Equity multiple: 0.69×
• Total profit: $-23,809
• Equity at exit: $23,777

Cash invested: $77,000 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,545 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$246 /mo · $2,949/yr
• Insurance: −$115
• HOA: −$240
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $-32

Break-even live

Break-even rent $2,585

Max offer price $269,332

Occupancy floor 96%

Sensitivity live

Price	-10% $124	-5% $46	+0% $-32	+5% $-110	+10% $-188
Rent	-10% $-233	-5% $-133	+0% $-32	+5% $68	+10% $169
Rate	-1.0pp $106	-0.5pp $38	base $-32	+0.5pp $-103	+1.0pp $-176

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12210 Urbank St NE Unit B Blaine, MN	2.0	1.5	1632	$2,295	$1.41	0d	1	0.18mi
2444 120th Ln NE Blaine, MN	3.0	2.5	1858	$3,345	$1.80	0d	1	0.29mi
2445 120th Cir NE Blaine, MN	2.0–4.0	2.5–3.5	1894	$2,795	$1.48	0d	18	1.05mi
1558 126th Ave NE Unit 1545 Blaine, MN	3.0	1.0	970	$1,675	$1.73	5d	1	1.30mi

HOA detail

• Monthly dues: $240 · $2,880/yr

Listing history 17 events

1. 2026-06-21
   days on market $275,000 Active 25 DOM
2. 2026-06-18
   days on market $275,000 Active 22 DOM
3. 2026-06-17
   days on market $275,000 Active 21 DOM
4. 2026-06-16
   days on market $275,000 Active 20 DOM
5. 2026-06-15
   days on market $275,000 Active 19 DOM
6. 2026-06-13
   pricedays on market $275,000 Active 17 DOM
7. 2026-06-09
   days on market $280,000 Active 13 DOM
8. 2026-06-08
   days on market $280,000 Active 12 DOM
9. 2026-06-07
   days on market $280,000 Active 11 DOM
10. 2026-06-04
    days on market $280,000 Active 8 DOM
11. 2026-06-03
    days on market $280,000 Active 7 DOM
12. 2026-06-02
    days on market $280,000 Active 6 DOM
13. 2026-06-01
    days on market $280,000 Active 5 DOM
14. 2026-05-31
    days on market $280,000 Active 4 DOM
15. 2026-05-27
    listed $280,000 Active
16. 2025-07-14
    historical $2,195
17. 2025-06-14
    listed $2,195

ⓘ 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: $2,949 · $246/mo
• Projected year-2 tax: $3,014 · $251/mo
• Expected delta: +$66/yr (+$5/mo · 2.2%)

ⓘ 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 ≥99°F today · 14 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: $30,537
• − Mortgage interest: −$15,404
• − Property taxes: −$2,949
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,443
• − Management: −$2,443
• − HOA: −$2,880
• − Depreciation: −$8,000
• Taxable loss: −$4,957
• Est. tax savings @ 24.0%: +$1,190
• After-tax cash flow: $805/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: Spring Lake Park Public Schools
• NCES district ID: 2733330
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $65,602
• Composite: 40.11/100
• National rank: #3802
• State rank: #162 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

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 (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

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: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+12656.3% since first listed

3 events — show timeline

• 2026-05-27 Listed $280,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-14 Rental Removed $2,195 Avail
• 2025-06-14 Listed for Rent $2,195 Avail

Property tax history

+3.1%/yr

Latest (2026): $2,949 · +10.8% YoY. Source: county tax records.