529 5 1/2 St NW · Elk River, MN 55330

$335,000

3 bd · 2.0 ba · 1,740 sqft · SingleFamily public records · 2 Days on market

Built 1976 10,454 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.4/30.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1976

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces; Concrete floor with floor drain; Garage door opener; 16 ft wide garage door
• Utilities: City water (connected); City sewer (connected); Natural gas; 200+ amp electrical service with circuit breakers
• Home design: Residential property; One-story design (main living on one level) ; Main entry and primary bedroom on main level
• Construction: Block foundation; Construction: block, concrete and frame; Asphalt pitched roof (age 8 years or less)
• Exterior features: Deck; Stone exterior accents; Irregular lot with medium tree coverage; City street with curbs, paved and a no-outlet/dead end; Publicly maintained road

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms total (3 main level, 1 lower level)
• Bathrooms: Main floor full bath; Lower-level 3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with egress windows; Breakfast bar and informal dining area; Paneled doors; Kitchen window; Cable available; Main floor primary bedroom; 3 bedrooms on one level
• Laundry & utility: Washer and dryer included; Washer/dryer hookups (lower level); Laundry sink; Electric dryer hookup; Gas water heater; Exhaust fan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-579 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (30.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (39.4% below list).
• Recommended offer: $203k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 3.3% in Elk River — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#265 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Lincoln Elementary (math 33% / reading 51%, grade F, #579 of 857 statewide, top 69%, 557 students, 46% FRL); Vandenberge Middle School (math 36% / reading 47%, grade F, #138 of 258 statewide, top 55%, 512 students, 27% FRL); Elk River Senior High (math 60% / reading 57%, grade C, #56 of 471 statewide, top 12%, 1,637 students, 22% FRL) — zoned schools average 32% FRL vs 14% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 457 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 334 units permitted in Sherburne County in 2024 (58 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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 $170k; list at $335k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $202,992 (39.4% 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 1976 — 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. 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?
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: 0.61% ✗
• Cap rate: 4.22%
• Cash-on-cash: -7.41%
• DSCR: 0.67
• GRM: 13.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -29.2%
• Equity multiple: 0.03×
• Total profit: $-91,205
• Equity at exit: $49,950

10-year hold

• IRR: -29.7%
• Equity multiple: -0.36×
• Total profit: $-127,102
• Equity at exit: $28,965

Cash invested: $93,800 (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 55330

• Active inventory: 457
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$286 /mo · $3,434/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-579

Break-even live

Break-even rent $2,763

Max offer price $232,737

Occupancy floor —

Sensitivity live

Price	-10% $-389	-5% $-484	+0% $-579	+5% $-674	+10% $-769
Rent	-10% $-739	-5% $-659	+0% $-579	+5% $-499	+10% $-419
Rate	-1.0pp $-410	-0.5pp $-494	base $-579	+0.5pp $-666	+1.0pp $-754

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 6th St NW Unit 310 Elk River, MN	2.0	2.0	1205	$1,662	$1.38	25d	1	0.19mi
725 6th St NW Elk River, MN	3.0	2.0	1216	$1,863	$1.53	45d	1	0.19mi
341 Evans Ave NW Elk River, MN	1.0–2.0	1.0–2.0	957	$1,910	$2.00	0d	11	0.24mi
1105 Lions Park Dr NW Elk River, MN	3.0	2.0	1160	$1,750	$1.51	0d	1	0.55mi
1227 School St NW Elk River, MN	2.0–3.0	1.0–2.0	1001	$1,645	$1.64	4d	1	0.72mi

Listing history 18 events

1. 2026-05-22
   listed $335,000 Active
2. 2026-05-20
   historical $335,000
3. 2016-01-07
   soldstatus $170,500
4. 2015-12-30
   soldstatus $170,500 Sold 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

5. 2015-10-26
   status Pending 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

6. 2015-10-16
   historical Contingent - Inspection 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

7. 2015-08-28
   price $175,000 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

8. 2015-08-28
   price $174,900 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

9. 2015-07-27
   listed $179,900 Active 307-char remark

   Show marketing remark (307 chars)

   Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

10. 2015-07-27
    status Active

    Show marketing remark (307 chars)

    Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

11. 2015-07-27
    historical

    Show marketing remark (307 chars)

    Excellent home, beautifully updated with fresh earth tone colors & new carpeting, in established & wonderfully friendly neighborhood within a few blocks from downtown restaurants & shopping. Family room in lower level with potential for further expansion. Seller offering 1 yr HSA Home Warranty.

12. 2015-07-17
    historical Contingent - Sale of Another Property
13. 2015-07-09
    status Active
14. 2015-06-09
    status Pending
15. 2015-06-08
    historical
16. 2015-05-08
    price $184,900
17. 2015-04-21
    price $189,900
18. 2015-04-06
    listed $194,900 Active

ⓘ 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: $3,434 · $286/mo
• Projected year-2 tax: $3,593 · $299/mo
• Expected delta: +$159/yr (+$13/mo · 4.6%)

ⓘ 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 ≥98°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: $24,359
• − Mortgage interest: −$18,765
• − Property taxes: −$3,434
• − Insurance: −$1,675
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$9,745
• Taxable loss: −$13,158
• Est. tax savings @ 24.0%: +$3,158
• After-tax cash flow: $-3,789/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Elk River

• Score: 72/100
• State rank: #265
• US rank: #5795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk River, MN
• County: Sherburne County · 120,363 people
• City population: 45,721
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,721
• Household income: $115,761
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 285.0

Population outlook (Sherburne County) Hauer SSP2

• Today (2025): 97,402 people
• By 2030: 99,341 · +2.0%
• By 2040: 101,188 · +3.9%
• By 2050: 99,214 · +1.9%
• By 2075: 88,700 · -8.9%
• By 2100: 72,241 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 13% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Sherburne

• 2024 margin: Solid R (+34.9) · D 31.7% · R 66.6% · Other 1.7%
• 2008→2024 swing: -16.7pp toward R · 2008: -18.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+32.6 2016: R+37.0 2012: R+22.1 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.46%
• Current HPI: 241.3028
• 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

+71.9% since first listed

18 events — show timeline

• 2026-05-22 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Coming Soon $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-07 Sold (Public Records) $170,500 Public Records
• 2015-12-30 Sold (MLS) $170,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-16 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-28 Price Changed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-28 Price Changed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-27 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-27 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-08 Price Changed $184,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-21 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-06 Listed $194,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2025): $3,434 · +0.4% YoY. Source: county tax records.