729 Brisbin St · Anoka, MN 55303

$229,950

2 bd · 1.0 ba · 945 sqft · SingleFamily public records · 22 Days on market

Built 1947 0.37 ac lot $243/sqft · 21% above area Est $294k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.8/30.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

Key facts

• Unfinished basement
• 0.37 acre lot
• 2 garage spots

Tags

• PRIVATE FENCED BACKYARD
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: 2-car garage; Asphalt parking; Garage door 7' height; Additional storage
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential property; One and one-half stories; Slab foundation; Facing information not provided
• Construction: Concrete construction materials; Asphalt roof; Built details not provided
• Exterior features: Stone and vinyl exterior; Patio; Partial wood privacy fencing; Tree coverage (medium); City street frontage; Public maintained road

Interior

• Kitchen: Cooktop; Range; Microwave; Refrigerator; Disposal; Eat-in kitchen
• Bedrooms: 2 bedrooms (one bedroom on main floor, one bedroom on upper level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Ethernet wired; Hardwood floors; Kitchen window; Paneled doors; Patio; Water softener (owned)
• Laundry & utility: Washer and dryer; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (27.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (35.5% below list).
• Recommended offer: $148k (35.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.4% in Anoka — 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 79/100 on livability (#102 in MN, #2,300 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: amenities D+, health & safety F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 346 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• This rent is only 17% of the median local income ($103k/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 $2k of loan paydown is wiped out by about $7k 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 22 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,372 (35.5% 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. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.65% ✗
• Cap rate: 4.45%
• Cash-on-cash: -6.58%
• DSCR: 0.71
• GRM: 12.9

CMA / ARV

• ARV (median comp): $294,021
• List price: $229,950
• Delta: -21.79%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.10×
• Total profit: $-57,798
• Equity at exit: $34,286

10-year hold

• IRR: -19.8%
• Equity multiple: -0.10×
• Total profit: $-71,022
• Equity at exit: $19,882

Cash invested: $64,386 (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 55303

• Rents YoY: 4.3%
• Active inventory: 346
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,484 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$224 /mo · $2,685/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $-353

Break-even live

Break-even rent $1,931

Max offer price $167,541

Occupancy floor —

Sensitivity live

Price	-10% $-223	-5% $-288	+0% $-353	+5% $-418	+10% $-483
Rent	-10% $-470	-5% $-412	+0% $-353	+5% $-295	+10% $-236
Rate	-1.0pp $-237	-0.5pp $-295	base $-353	+0.5pp $-413	+1.0pp $-473

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: $57,488
• Closing costs: $6,898
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
550 Madison St Anoka, MN	2.0	1.0	900	$1,094	$1.22	45d	1	0.26mi
749 E River Rd Anoka, MN	1.0–2.0	1.0–2.0	1085	$1,685	$1.55	4d	9	0.30mi
511 Madison St Unit 2 Anoka, MN	2.0	1.0	960	$1,420	$1.48	45d	1	0.34mi
518 E Main St Anoka, MN	1.0	1.0	700	$924	$1.32	45d	1	0.46mi
11800 Eldorado St NW Minneapolis, MN	2.0	1.0	885	$1,295	$1.46	45d	1	0.55mi
3845 119th Ave NW Minneapolis, MN	1.0–2.0	2.0	1020	$1,815	$1.78	0d	9	0.75mi
11799 Zea St NW Minneapolis, MN	2.0	1.0	969	$1,400	$1.44	0d	16	0.78mi
3931 Coon Rapids Blvd NW Unit 205 Coon Rapids, MN	1.0	1.0	529	$1,095	$2.07	45d	1	0.78mi
3931 Coon Rapids Blvd NW Unit 105 Coon Rapids, MN	1.0	1.0	529	$1,095	$2.07	6d	1	0.78mi
220 E River Pkwy Champlin, MN	1.0–3.0	1.0–2.0	1079	$2,552	$2.36	0d	15	0.83mi
1709 S Ferry St Apt A Anoka, MN	2.0	1.0	850	$1,319	$1.55	14d	1	0.84mi
1845 S Ferry St Anoka, MN	1.0	1.0	950	$1,199	$1.26	6d	1	0.87mi
438 Independence Ave N Unit 4 Champlin, MN	2.0	1.0	885	$1,349	$1.52	6d	1	1.02mi
11750 Tulip St NW Minneapolis, MN	1.0	1.0	1094	$1,400	$1.28	45d	1	1.02mi
30 Sunset Dr E Champlin, MN	2.0	1.0	800	$1,524	$1.91	4d	6	1.04mi
2209 Branch Ave Unit 9 Anoka, MN	2.0	1.0	900	$1,299	$1.44	0d	1	1.05mi
11610 Tulip St NW Minneapolis, MN	1.0–2.0	1.0	850	$1,298	$1.53	45d	1	1.18mi
411 Dayton Rd Champlin, MN	2.0	1.0–2.0	950	$1,789	$1.88	0d	4	1.20mi
451 Western St Apt 3 Anoka, MN	2.0	1.0	750	$1,300	$1.73	45d	1	1.20mi
3120 Northdale Blvd NW Minneapolis, MN	3.0	1.0–2.0	1009	$2,338	$2.32	0d	12	1.35mi
3130 Northdale Blvd NW Minneapolis, MN	2.0	1.0–2.0	958	$2,619	$2.73	0d	18	1.35mi

Listing history 28 events

1. 2026-05-16
   status Pending 329-char remark
2. 2026-05-04
   historical Contingent - Inspection 329-char remark
3. 2026-04-23
   listed $229,950 Active 329-char remark
4. 2022-06-21
   soldstatus $270,000
5. 2022-06-17
   soldstatus $270,000 Sold 576-char remark

   Show marketing remark (576 chars)

   Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

6. 2022-05-18
   status Pending 576-char remark

   Show marketing remark (576 chars)

   Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

7. 2022-05-10
   status Active 576-char remark

   Show marketing remark (576 chars)

   Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

8. 2022-03-29
   status Pending 576-char remark

   Show marketing remark (576 chars)

   Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

9. 2022-03-21
   historical Contingent - Inspection 576-char remark

   Show marketing remark (576 chars)

   Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

10. 2022-03-18
    listed $249,900 Active 576-char remark

    Show marketing remark (576 chars)

    Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

11. 2022-03-15
    historical $249,900 576-char remark

    Show marketing remark (576 chars)

    Quaint home centrally located in Anoka close to parks, schools, shops, Main Street as well as many amenities. You'll love the beautiful trees and large fenced-in backyard with patio. Kitchen has been updated. Newer water softener & furnace. Upper level has potential & opportunity to convert into master suite or additional door added to make into two bedrooms as previously sold. Build equity fast by completing the two basement bedrooms, to be a four bedroom home. Beautiful curb appeal and potential for quickly built equity makes this home a great choice for many!

12. 2019-08-14
    soldstatus $225,000
13. 2019-07-22
    soldstatus $225,000 Sold

    Show marketing remark (251 chars)

    Charming Home on a quiet street within walking distance to the water park, schools, and playground. The home features and updated kitchen. The yard is HUGE with mature trees and offers a large patio. New Furnace, Water heater and more . Come and see!

14. 2019-06-22
    status Pending

    Show marketing remark (251 chars)

    Charming Home on a quiet street within walking distance to the water park, schools, and playground. The home features and updated kitchen. The yard is HUGE with mature trees and offers a large patio. New Furnace, Water heater and more . Come and see!

15. 2019-06-13
    listed $214,900 Active

    Show marketing remark (251 chars)

    Charming Home on a quiet street within walking distance to the water park, schools, and playground. The home features and updated kitchen. The yard is HUGE with mature trees and offers a large patio. New Furnace, Water heater and more . Come and see!

16. 2015-09-21
    soldstatus $167,900
17. 2015-09-16
    soldstatus $167,900 Sold
18. 2015-08-10
    status Pending
19. 2015-07-25
    historical Contingent - Inspection
20. 2015-07-21
    listed $167,900 Active
21. 2005-04-28
    soldstatus $172,000
22. 2004-12-15
    soldstatus $171,900
23. 2004-11-16
    historical
24. 2004-10-20
    historical
25. 2004-10-20
    listed $169,900
26. 2004-08-31
    listed $169,900
27. 2004-08-02
    historical
28. 2004-06-02
    listed $174,900

ⓘ 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: $2,685 · $224/mo
• Projected year-2 tax: $2,685 · $224/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 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: $17,805
• − Mortgage interest: −$12,881
• − Property taxes: −$2,685
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$6,689
• Taxable loss: −$8,449
• Est. tax savings @ 24.0%: +$2,028
• After-tax cash flow: $-2,212/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Anoka

• Score: 79/100
• State rank: #102
• US rank: #2300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anoka, MN
• County: Anoka County · 277,116 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 52,614
• Household income: $102,986
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 1060.0

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 (82%)
• Race & ethnicity: White 82% Black 7% Two or more races 6% Hispanic / Latino 4% Asian 3%
• Common ancestry: Portuguese 12% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Other Asian/Pacific 2% Spanish 2% French/Haitian/Cajun 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: ▼ -273.26%
• Current HPI: 251.4034
• Rent YoY: ▲ 4.31%
• 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

+31.5% since first listed

28 events — show timeline

• 2026-05-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $229,950 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-21 Sold (Public Records) $270,000 Public Records
• 2022-06-17 Sold (MLS) $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-10 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-18 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-15 Coming Soon $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-14 Sold (Public Records) $225,000 Public Records
• 2019-07-22 Sold (MLS) $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-13 Listed $214,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-21 Sold (Public Records) $167,900 Public Records
• 2015-09-16 Sold (MLS) $167,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-21 Listed $167,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-28 Sold (Public Records) $172,000 Public Records
• 2004-12-15 Sold (MLS) $171,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-20 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-31 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-02 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2026): $2,685 · +0.8% YoY. Source: county tax records.