655 4th Ave · Mountain Lake, MN 56159

$112,500

2 bd · 1.0 ba · 899 sqft · SingleFamily public records · 147 Days on market

Built 1950 7,405 sqft lot

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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 +9.8/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to a main floor living with 2 bedrooms and bathroom on the main floor along with a nice sized living room and kitchen. The bathroom and bedrooms have been completely remodeled along with all new flooring throughout the home. The home has central air and a furnace also includes a nice wood burner in the middle of the home for more heating options on them cold nights. The outside of the home has nice Cedar siding a metal roof and new windows around the home. There is also two detached single stall garages with a patio deck off the one garage with a nice garden in the backyard. Agent is owner of the home

Key facts

• Completely remodeled
• Wood burner
• New flooring

Tags

• MAIN FLOOR LIVING
• COMPLETELY REMODELED
• NEW FLOORING
• CENTRAL AIR
• WOOD BURNER
• CEDAR SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $-71 ($-855/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (24.0% below list).
• Recommended offer: $86k (24.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#226 in MN, #4,819 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mountain Lake Public Schools (rural): math 46% / reading 46% proficiency, ranked #172 of 301 in MN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 29 units permitted in Cottonwood County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $932 of equity ($778 loan paydown + $154 appreciation (0.1% local appreciation)).
• Cottonwood County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $112k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $85,516 (24.0% 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. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.77×
• Total profit: $-7,108
• Equity at exit: $33,440

10-year hold

• IRR: 1.0%
• Equity multiple: 1.11×
• Total profit: $3,527
• Equity at exit: $40,820

Cash invested: $31,500 (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 56159

• Home prices YoY: 0.1%
• Active inventory: 18
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $855 medium
• Mortgage (P&I): −$590
• Tax from tax record: −$110 /mo · $1,320/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $-71

Break-even live

Break-even rent $945

Max offer price $99,911

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-39	+0% $-71	+5% $-103	+10% $-135
Rent	-10% $-139	-5% $-105	+0% $-71	+5% $-37	+10% $-4
Rate	-1.0pp $-15	-0.5pp $-43	base $-71	+0.5pp $-100	+1.0pp $-130

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $112,500 Active 147 DOM
2. 2026-06-17
   days on market $112,500 Active 146 DOM
3. 2026-06-16
   days on market $112,500 Active 145 DOM
4. 2026-06-15
   days on market $112,500 Active 144 DOM
5. 2026-06-13
   days on market $112,500 Active 142 DOM
6. 2026-06-12
   days on market $112,500 Active 141 DOM
7. 2026-06-09
   days on market $112,500 Active 138 DOM
8. 2026-06-08
   days on market $112,500 Active 137 DOM
9. 2026-06-07
   days on market $112,500 Active 136 DOM
10. 2026-06-07
    days on market $112,500 Active 135 DOM
11. 2026-06-04
    days on market $112,500 Active 132 DOM
12. 2026-06-02
    days on market $112,500 Active 131 DOM
13. 2026-06-01
    days on market $112,500 Active 130 DOM
14. 2026-05-31
    days on market $112,500 Active 129 DOM
15. 2026-05-31
    days on market $112,500 Active 128 DOM
16. 2026-04-15
    price $112,500 619-char remark

    Show marketing remark (619 chars)

    Welcome to a main floor living with 2 bedrooms and bathroom on the main floor along with a nice sized living room and kitchen. The bathroom and bedrooms have been completely remodeled along with all new flooring throughout the home. The home has central air and a furnace also includes a nice wood burner in the middle of the home for more heating options on them cold nights. The outside of the home has nice Cedar siding a metal roof and new windows around the home. There is also two detached single stall garages with a patio deck off the one garage with a nice garden in the backyard. Agent is owner of the home

17. 2026-01-22
    listed $125,000 Active 619-char remark

    Show marketing remark (619 chars)

    Welcome to a main floor living with 2 bedrooms and bathroom on the main floor along with a nice sized living room and kitchen. The bathroom and bedrooms have been completely remodeled along with all new flooring throughout the home. The home has central air and a furnace also includes a nice wood burner in the middle of the home for more heating options on them cold nights. The outside of the home has nice Cedar siding a metal roof and new windows around the home. There is also two detached single stall garages with a patio deck off the one garage with a nice garden in the backyard. Agent is owner of the home

18. 2025-11-12
    soldstatus $55,000
19. 1991-04-17
    soldstatus $11,100

ⓘ 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: $1,320 · $110/mo
• Projected year-2 tax: $1,320 · $110/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,262
• − Mortgage interest: −$6,302
• − Property taxes: −$1,320
• − Insurance: −$562
• − Repairs & maintenance: −$821
• − Management: −$821
• − Depreciation: −$3,273
• Taxable loss: −$2,837
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $-174/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 Lake Public Schools
• NCES district ID: 2723010
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $48,212
• Composite: 39.3/100
• National rank: #3994
• State rank: #172 of 301 in MN

Livability — Mountain Lake

• Score: 74/100
• State rank: #226
• US rank: #4819

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountain Lake, MN
• City population: 2,520
• Population (ZIP): 2,520

Population outlook (Cottonwood County) Hauer SSP2

• Today (2025): 11,130 people
• By 2030: 10,916 · -1.9%
• By 2040: 10,467 · -6.0%
• By 2050: 10,136 · -8.9%
• By 2075: 10,080 · -9.4%
• By 2100: 10,091 · -9.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Asian 10% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 6% Dominican 2%
• Common ancestry: Portuguese 10% Iranian 2% Scotch-Irish 1%
• Foreign-born: 10% · Canada, Dominican Republic
• Languages at home: 84% English-only · Spanish 7% Other Asian/Pacific 6% German/W. Germanic 1%

Political lean MEDSL · Cottonwood

• 2024 margin: Solid R (+41.1) · D 28.6% · R 69.7% · Other 1.7%
• 2008→2024 swing: -34.5pp toward R · 2008: -6.6pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+38.2 2016: R+35.1 2012: R+15.1 2008: R+6.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.14%
• Current HPI: 252.1125
• 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

+913.5% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $112,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-22 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Sold (Public Records) $55,000 Public Records
• 1991-04-17 Sold (Public Records) $11,100 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,320 · +0.6% YoY. Source: county tax records.