5440 Park Dr · Mountain Iron, MN 55768

$120,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 70 Days on market

Built 1952 8,276 sqft lot $139/sqft · 12% below area Est $137k · 12% under ↓ 14% since listing

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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).

• Cash flow +19.6/30.0
• ARV discount +13.1/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• 1% rule +4.1/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-maintained rambler on a large, private lot with a 2-stall detached garage. The bright, open floor plan features newer windows tons of natural light. Generous kitchen and living room offer abundant counter and living space—ideal for everyday living and entertaining. Enjoy a sizable backyard with a paved patio, perfect for outdoor dining, gardening, or play. Convenient, comfortable and move-in ready.

Key facts

• Private lot
• Paved patio
• Sizable backyard

Tags

• PRIVATE LOT
• NEWER WINDOWS
• SIZABLE BACKYARD
• PAVED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/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 $109k (9.2% below list).
• Recommended offer: $109k (9.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#266 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Mountain Iron-Buhl School District (town): math 36% / reading 51% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($830 loan paydown + $2k appreciation (1.7% local appreciation)).
• At projected returns (1.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,998 (9.2% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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: 0.91% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 9.2

CMA / ARV

• ARV (median comp): $136,902
• List price: $120,000
• Delta: -12.35%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

1.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.45×
• Total profit: $15,248
• Equity at exit: $45,538

10-year hold

• IRR: 11.9%
• Equity multiple: 2.56×
• Total profit: $52,343
• Equity at exit: $64,224

Cash invested: $33,600 (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 55768

• Home prices YoY: 0.8%
• Active inventory: 16
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $137

Break-even live

Break-even rent $916

Max offer price $120,000

Occupancy floor 82%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $120,000 Active 70 DOM
2. 2026-06-18
   days on market $120,000 Active 69 DOM
3. 2026-06-17
   days on market $120,000 Active 68 DOM
4. 2026-06-16
   days on market $120,000 Active 67 DOM
5. 2026-06-15
   days on market $120,000 Active 66 DOM
6. 2026-06-14
   days on market $120,000 Active 64 DOM
7. 2026-06-13
   days on market $120,000 Active 63 DOM
8. 2026-06-10
   days on market $120,000 Active 61 DOM
9. 2026-06-09
   days on market $120,000 Active 60 DOM
10. 2026-06-08
    days on market $120,000 Active 59 DOM
11. 2026-06-07
    days on market $120,000 Active 58 DOM
12. 2026-06-02
    days on market $120,000 Active 53 DOM
13. 2026-06-01
    days on market $120,000 Active 52 DOM
14. 2026-05-31
    days on market $120,000 Active 51 DOM
15. 2026-05-30
    days on market $120,000 Active 50 DOM
16. 2026-05-12
    price $120,000 412-char remark

    Show marketing remark (412 chars)

    Well-maintained rambler on a large, private lot with a 2-stall detached garage. The bright, open floor plan features newer windows tons of natural light. Generous kitchen and living room offer abundant counter and living space—ideal for everyday living and entertaining. Enjoy a sizable backyard with a paved patio, perfect for outdoor dining, gardening, or play. Convenient, comfortable and move-in ready.

17. 2026-04-10
    listed $140,000 Active 412-char remark

    Show marketing remark (412 chars)

    Well-maintained rambler on a large, private lot with a 2-stall detached garage. The bright, open floor plan features newer windows tons of natural light. Generous kitchen and living room offer abundant counter and living space—ideal for everyday living and entertaining. Enjoy a sizable backyard with a paved patio, perfect for outdoor dining, gardening, or play. Convenient, comfortable and move-in ready.

ⓘ 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: $532 · $44/mo
• Projected year-2 tax: $938 · $78/mo
• Expected delta: +$406/yr (+$34/mo · 76.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,080
• − Mortgage interest: −$6,722
• − Property taxes: −$532
• − Insurance: −$600
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$3,491
• Taxable loss: −$358
• Est. tax savings @ 24.0%: +$86
• After-tax cash flow: $1,735/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: Mountain Iron-Buhl School District
• NCES district ID: 2700001
• Math proficiency: 36% ▼ -10.00%
• Reading proficiency: 51% ▼ -12.00%
• Median HH income: $46,501
• Composite: 37.01/100
• National rank: #4519
• State rank: #196 of 301 in MN

Livability — Mountain Iron

• Score: 72/100
• State rank: #266
• US rank: #5807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountain Iron, MN
• City population: 2,791
• Population (ZIP): 2,791

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Native American 1%
• Common ancestry: Portuguese 9% Italian 3% Romanian 2%
• Foreign-born: 0%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.72%
• Current HPI: 223.4904
• 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

-14.3% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $120,000 RAOR
• 2026-04-10 Listed $140,000 RAOR

Property tax history

+1.9%/yr

Latest (2025): $532 · -25.1% YoY. Source: county tax records.