6976 Lancaster Way NE · Albertville, MN 55301

$289,000

3 bd · 3.0 ba · 1,558 sqft · Townhouse public records · 16 Days on market

Built 2021 1,742 sqft lot $345/mo HOA · 13% of rent

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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 +10.7/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

JP Brooks is excited to present in the desirable Towne Lakes development near Albertville Outlet Mall! The community shares a pool, party room, and offers walking/biking trails and parks! Great location, close to the Outlet Mall and easy access to I-94. Home features upgraded kitchen cabinets, fireplace in great room and 6X12 patio on main level! Upper level features master suite with WIC and private bath, bedrooms #2 and #3 and full bath. Photos taken of similar home. Finishes may differ. Home under Construction. To be completed May 2021!

Key facts

• Upgraded kitchen
• Open concept design
• Granite countertops

Tags

• UPGRADED KITCHEN
• GRANITE COUNTERTOPS
• OPEN CONCEPT DESIGN
• ELECTRIC FIREPLACE
• FRESHLY PAINTED INTERIOR
• DECORATIVE STAIR SPINDLES

Property features AI

Finance

• Other: Shared community rooms include amusement/party room, community room, and play area
• HOA & community: HOA managed by Acuity Group; Monthly HOA fee includes hazard insurance, lawn care, grounds maintenance, professional management, shared amenities, and snow removal

Exterior

• Parking: Attached tuck-under garage with garage door opener; 2 garage spaces
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Attached residential property; Two levels; Entry on main level
• Construction: Roof replaced or updated within last 8 years; Foundation area noted
• Exterior features: Patio; No fencing; Lot dimensions approximately 26 x 67

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (two upper-level bedrooms and one main-level bedroom); Primary bedroom with private ensuite and walk-in closet
• Bathrooms: Primary ensuite with 3/4 bath; Upper-level full bathroom; Main-level half bath; Upper-level 3/4 bath
• Heating & cooling: Forced air heating; Fireplace heating; Central air conditioning; Air-to-air exchanger
• Interior features: Natural woodwork; Water filtration and reverse osmosis systems; Water softener (rented); ENERGY STAR qualified appliances; Eat-in kitchen / informal dining; Loft; Patio; 2nd-floor laundry; 3 bedrooms on one level; Electric fireplace in living room
• Laundry & utility: Washer and dryer (hookup); Laundry closet on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $289k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (6.2% below list).
• Recommended offer: $265k (8.3% below list) — sets the bar for cash-flow.

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.
• 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: Rogers Elementary (math 69% / reading 70%, grade A-, #74 of 857 statewide, top 10%, 627 students, 12% FRL); Rogers Middle School (math 61% / reading 63%, grade B+, #19 of 258 statewide, top 8%, 979 students, 16% FRL); Rogers Senior High (math 66% / reading 64%, grade B, #28 of 471 statewide, top 6%, 1,740 students, 18% FRL) — zoned schools at 15% FRL track the district average.
• 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 $9k 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

• It's been on market 16 days — a 2% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $264,891 (8.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.94% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 8.9

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: -19.6%
• Equity multiple: 0.32×
• Total profit: $-55,310
• Equity at exit: $43,091

10-year hold

• IRR: -12.1%
• Equity multiple: 0.28×
• Total profit: $-58,491
• Equity at exit: $24,987

Cash invested: $80,920 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,709 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$296 /mo · $3,552/yr
• Insurance: −$120
• HOA: −$345
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $-136

Break-even live

Break-even rent $2,882

Max offer price $264,891

Occupancy floor —

Sensitivity live

Price	-10% $27	-5% $-55	+0% $-136	+5% $-218	+10% $-300
Rent	-10% $-351	-5% $-243	+0% $-136	+5% $-29	+10% $78
Rate	-1.0pp $9	-0.5pp $-63	base $-136	+0.5pp $-211	+1.0pp $-288

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7712 Lachman Ave NE Albertville, MN	3.0	2.0	1525	$2,259	$1.48	0d	1	0.74mi
10740 County Road 37 NE Albertville, MN	2.0–3.0	1.0–2.0	1092	$1,740	$1.59	0d	4	0.84mi

HOA detail

• Monthly dues: $345 · $4,140/yr
• Likely covers: pool

Listing history 13 events

1. 2026-04-25
   status Pending
2. 2026-04-09
   listed $289,000 Active
3. 2025-03-23
   historical
4. 2025-03-19
   price $288,000
5. 2025-02-21
   price $289,000
6. 2025-01-31
   listed $299,000 Active
7. 2021-05-25
   soldstatus $269,900 Sold 546-char remark

   Show marketing remark (546 chars)

   JP Brooks is excited to present in the desirable Towne Lakes development near Albertville Outlet Mall! The community shares a pool, party room, and offers walking/biking trails and parks! Great location, close to the Outlet Mall and easy access to I-94. Home features upgraded kitchen cabinets, fireplace in great room and 6X12 patio on main level! Upper level features master suite with WIC and private bath, bedrooms #2 and #3 and full bath. Photos taken of similar home. Finishes may differ. Home under Construction. To be completed May 2021!

8. 2021-05-20
   status Pending 546-char remark

   Show marketing remark (546 chars)

   JP Brooks is excited to present in the desirable Towne Lakes development near Albertville Outlet Mall! The community shares a pool, party room, and offers walking/biking trails and parks! Great location, close to the Outlet Mall and easy access to I-94. Home features upgraded kitchen cabinets, fireplace in great room and 6X12 patio on main level! Upper level features master suite with WIC and private bath, bedrooms #2 and #3 and full bath. Photos taken of similar home. Finishes may differ. Home under Construction. To be completed May 2021!

9. 2021-03-10
   historical Contingent - Subject to Statutory Rescission 546-char remark

   Show marketing remark (546 chars)

   JP Brooks is excited to present in the desirable Towne Lakes development near Albertville Outlet Mall! The community shares a pool, party room, and offers walking/biking trails and parks! Great location, close to the Outlet Mall and easy access to I-94. Home features upgraded kitchen cabinets, fireplace in great room and 6X12 patio on main level! Upper level features master suite with WIC and private bath, bedrooms #2 and #3 and full bath. Photos taken of similar home. Finishes may differ. Home under Construction. To be completed May 2021!

10. 2021-03-06
    listed $269,900 Active 546-char remark

    Show marketing remark (546 chars)

    JP Brooks is excited to present in the desirable Towne Lakes development near Albertville Outlet Mall! The community shares a pool, party room, and offers walking/biking trails and parks! Great location, close to the Outlet Mall and easy access to I-94. Home features upgraded kitchen cabinets, fireplace in great room and 6X12 patio on main level! Upper level features master suite with WIC and private bath, bedrooms #2 and #3 and full bath. Photos taken of similar home. Finishes may differ. Home under Construction. To be completed May 2021!

11. 2020-05-21
    soldstatus $644,000
12. 2010-12-10
    soldstatus $300,000
13. 2008-01-30
    soldstatus $2,041,086

ⓘ 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: $3,552 · $296/mo
• Projected year-2 tax: $3,552 · $296/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 · 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: $32,514
• − Mortgage interest: −$16,188
• − Property taxes: −$3,552
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,601
• − Management: −$2,601
• − HOA: −$4,140
• − Depreciation: −$8,407
• Taxable loss: −$6,421
• Est. tax savings @ 24.0%: +$1,541
• After-tax cash flow: $-97/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 — 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

-85.8% since first listed

13 events — show timeline

• 2026-04-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-19 Price Changed $288,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-21 Price Changed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-31 Listed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-25 Sold (MLS) $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-06 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-21 Sold (Public Records) $644,000 Public Records
• 2010-12-10 Sold (Public Records) $300,000 Public Records
• 2008-01-30 Sold (Public Records) $2,041,086 Public Records

Property tax history

+32.2%/yr

Latest (2025): $3,552 · -5.2% YoY. Source: county tax records.