6237 Kalenda Ln NE · Albertville, MN 55301

$350,000

4 bd · 2.0 ba · 1,634 sqft · SingleFamily public records · 11 Days on market

Built 1993 0.48 ac lot $214/sqft · at area comps Est $577k · 39% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• Schools +5.8/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

Key facts

• 0.48 acre lot
• 2 garage spots
• Built 1993

Property features AI

Exterior

• Parking: Attached garage with automatic door opener; 2-car garage (approx. 20 x 20)
• Utilities: City water connected; City sewer connected; Electric with circuit breakers; Natural gas
• Home design: Residential property; Split entry (bi-level) design; Deck entry
• Construction: Block construction; Block foundation; Roof over 8 years old
• Exterior features: Deck; Metal and vinyl exterior; Wood fencing; Storage shed; Tree coverage - medium; Irregular lot

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms total; Main level bedrooms; Lower level bedrooms
• Bathrooms: One full bathroom on the upper level; One 3/4 bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with storage space, daylight/lookout windows and egress window(s); Breakfast bar and eat-in kitchen; Informal dining areas and combined living/dining space; Kitchen window; Washer/dryer hookup; Water softener (owned)
• Laundry & utility: Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $69 ($822/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (14.6% below list).
• Recommended offer: $299k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Albertville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#206 in MN, #4,356 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities D, commute F.
• St. Michael-Albertville School District (rural): math 62% / reading 66% proficiency, ranked #17 of 301 in MN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Fieldstone Elementary School (math 76% / reading 67%, grade A-, #58 of 857 statewide, top 7%, 596 students, 24% FRL); St. Michael-Albertville Middle West (math 55% / reading 62%, grade B, #29 of 258 statewide, top 12%, 1,047 students, 21% FRL); St. Michael-Albertville Senior High (math 60% / reading 71%, grade B, #27 of 471 statewide, top 6%, 2,240 students, 17% FRL).
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 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 $10k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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.
• Current owner paid $270k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $299,066 (14.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 0.85% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 9.8

CMA / ARV

• ARV (median comp): $576,904
• List price: $350,000
• Delta: -39.33%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.47×
• Total profit: $-52,383
• Equity at exit: $52,186

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-40,123
• Equity at exit: $30,262

Cash invested: $98,000 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 143
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,991 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$313 /mo · $3,754/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $69

Break-even live

Break-even rent $2,904

Max offer price $350,000

Occupancy floor 93%

Sensitivity live

Price	-10% $267	-5% $168	+0% $69	+5% $-31	+10% $-130
Rent	-10% $-168	-5% $-50	+0% $69	+5% $187	+10% $305
Rate	-1.0pp $245	-0.5pp $158	base $69	+0.5pp $-22	+1.0pp $-114

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10740 County Road 37 NE Albertville, MN	2.0–3.0	1.0–2.0	1092	$1,740	$1.59	0d	4	0.15mi
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,675	$1.78	0d	7	1.17mi

Listing history 18 events

1. 2026-05-18
   historical Contingent - Inspection 524-char remark
2. 2026-05-15
   listed $350,000 Active 524-char remark
3. 2026-05-13
   historical $350,000 524-char remark
4. 2020-07-31
   soldstatus $270,000
5. 2020-07-30
   soldstatus $270,000 Sold 526-char remark

   Show marketing remark (526 chars)

   Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

6. 2020-07-02
   status Pending 526-char remark

   Show marketing remark (526 chars)

   Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

7. 2020-06-29
   historical Contingent - Inspection 526-char remark

   Show marketing remark (526 chars)

   Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

8. 2020-06-23
   price $274,900 526-char remark

   Show marketing remark (526 chars)

   Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

9. 2020-06-11
   listed $279,900 Active 526-char remark

   Show marketing remark (526 chars)

   Move-in ready updated 4 bedroom, 2 bathroom split entry. Vaulted ceilings and natural distressed oak plank flooring through the livingroom, kitchen and dining area. Brand new carpet in bedrooms and lower level. Stainless steel Whirlpool kitchen appliances. Updated bathrooms vanities and bath fixtures. Fresh paint throughout and modern light fixtures. Huge oversized lot with fenced backyard on a quiet cul-de-sac. Large cedar deck, maintenance free exterior and utility shed in back. Easy access to 94 and Albertville shops.

10. 2004-07-15
    soldstatus $185,000
11. 2004-07-09
    soldstatus $185,000

    Show marketing remark (127 chars)

    BRIGHT & OPEN SPLIT ENTRY WITH 4 BEDROOMS AND 2 BATHS. HUGE LOT ON A CUL-DE-SAC. MAINTENANCE FREE SIDING. FENCED BACK YARD.

12. 2004-06-09
    historical

    Show marketing remark (127 chars)

    BRIGHT & OPEN SPLIT ENTRY WITH 4 BEDROOMS AND 2 BATHS. HUGE LOT ON A CUL-DE-SAC. MAINTENANCE FREE SIDING. FENCED BACK YARD.

13. 2004-05-06
    listed $189,900

    Show marketing remark (127 chars)

    BRIGHT & OPEN SPLIT ENTRY WITH 4 BEDROOMS AND 2 BATHS. HUGE LOT ON A CUL-DE-SAC. MAINTENANCE FREE SIDING. FENCED BACK YARD.

14. 2000-09-08
    soldstatus $146,000
15. 2000-08-31
    soldstatus $146,000
16. 2000-07-30
    historical
17. 2000-07-24
    listed $145,900
18. 1993-07-29
    soldstatus $81,225

ⓘ 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: $3,754 · $313/mo
• Projected year-2 tax: $3,837 · $320/mo
• Expected delta: +$83/yr (+$7/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 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,888
• − Mortgage interest: −$19,605
• − Property taxes: −$3,754
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,871
• − Management: −$2,871
• − Depreciation: −$10,182
• Taxable loss: −$5,145
• Est. tax savings @ 24.0%: +$1,235
• After-tax cash flow: $2,057/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: St. Michael-Albertville School District
• NCES district ID: 2733790
• Math proficiency: 62% ▼ -13.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $86,897
• Composite: 57.91/100
• National rank: #1042
• State rank: #17 of 301 in MN

Livability — Albertville

• Score: 75/100
• State rank: #206
• US rank: #4356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albertville, MN
• County: Wright County · 79,164 people
• City population: 13,482
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• 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

+330.9% since first listed

19 events — show timeline

• 2026-05-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-31 Sold (Public Records) $270,000 Public Records
• 2020-07-30 Sold (MLS) $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-23 Price Changed $274,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-11 Listed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-15 Sold (Public Records) $185,000 Public Records
• 2004-07-09 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-06 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-08 Sold (Public Records) $146,000 Public Records
• 2000-08-31 Sold (MLS) $146,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-07-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-07-24 Listed $145,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-07-29 Sold (Public Records) $81,225 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,754 · +1.4% YoY. Source: county tax records.