12186 59th Cir NE · Albertville, MN 55301

$399,900

4 bd · 2.0 ba · 1,672 sqft · SingleFamily public records · 70 Days on market

Built 1992 1.30 ac lot $239/sqft · 5% above area Est $418k · at est.

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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 +17.3/30.0
• ARV discount +9.4/15.0
• Schools +5.8/10.0
• DSCR +5.4/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

Key facts

• 1.3 acre lot
• 2 garage spots
• Built 1992

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/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 $361k (9.6% below list).
• Recommended offer: $361k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.1% in Albertville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Big Woods Elementary (math 71% / reading 66%, grade B+, #91 of 857 statewide, top 11%, 660 students, 16% FRL); St. Michael-Albertville Middle East (math 57% / reading 65%, grade B+, #24 of 258 statewide, top 9%, 892 students, 18% 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).
• This rent runs 34% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 70 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; list at $400k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $361,315 (9.6% 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 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.90% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.11%
• DSCR: 1.14
• GRM: 9.2

CMA / ARV

• ARV (median comp): $417,722
• List price: $399,900
• Delta: -4.27%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-46,358
• Equity at exit: $59,626

10-year hold

• IRR: -2.2%
• Equity multiple: 0.85×
• Total profit: $-16,809
• Equity at exit: $34,576

Cash invested: $111,972 (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: 9.2×

Monthly cashflow live

• Estimated rent: $3,613 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$300 /mo · $3,600/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $291

Break-even live

Break-even rent $3,245

Max offer price $399,900

Occupancy floor 87%

Sensitivity live

Price	-10% $517	-5% $404	+0% $291	+5% $177	+10% $64
Rent	-10% $5	-5% $148	+0% $291	+5% $433	+10% $576
Rate	-1.0pp $492	-0.5pp $392	base $291	+0.5pp $187	+1.0pp $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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,675	$1.78	0d	7	1.11mi
11811 Frankfort Pkwy NE Saint Michael, MN	3.0	1.0–2.0	1017	$2,500	$2.46	0d	13	1.41mi

Listing history 18 events

1. 2026-06-10
   status $399,900 Pending 70 DOM
2. 2026-06-09
   days on market $399,900 Contingent - Inspection 70 DOM
3. 2026-06-08
   days on market $399,900 Contingent - Inspection 69 DOM
4. 2026-06-07
   days on market $399,900 Contingent - Inspection 68 DOM
5. 2026-06-04
   days on market $399,900 Contingent - Inspection 65 DOM
6. 2026-06-03
   days on market $399,900 Contingent - Inspection 64 DOM
7. 2026-06-02
   days on market $399,900 Contingent - Inspection 63 DOM
8. 2026-06-01
   days on market $399,900 Contingent - Inspection 62 DOM
9. 2026-05-31
   days on market $399,900 Contingent - Inspection 61 DOM
10. 2026-05-08
    status Active 386-char remark

    Show marketing remark (386 chars)

    4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

11. 2026-05-04
    historical 386-char remark

    Show marketing remark (386 chars)

    4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

12. 2026-04-15
    price $399,900 386-char remark

    Show marketing remark (386 chars)

    4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

13. 2026-03-27
    listed $425,000 Active 386-char remark

    Show marketing remark (386 chars)

    4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

14. 2026-03-20
    historical $425,000 386-char remark

    Show marketing remark (386 chars)

    4BR, 2BA home on a spacious 1.3-acre corner lot offering privacy and room to enjoy the outdoors. Bright main level with open living/dining area and walkout to a large 16x20 deck overlooking the expansive yard. Finished lower level includes a family room, additional bedrooms, and an updated tiled shower. Oversized 2-car garage and 12x12 storage shed. Easy access to I-94 and new Costco

15. 2003-05-27
    soldstatus $185,000
16. 2003-05-15
    soldstatus $185,000 242-char remark

    Show marketing remark (242 chars)

    IMMACULATE 4BR,2BA SPLIT ON 1.3 ACRE CORNER LOT. BLT '92. NEUTRAL DECOR, COZY LL FAMILY RM W/BERBER CARPET & RECESSED LIGHTING. HUGE 16X20 DECK, OVERSIZED 2 CAR GAR, 12X12 STORAGE SHED. EASY I94 ACCESS-JUST MINUTES FROM THE TWIN CITIES!!!

17. 2003-04-04
    historical 242-char remark

    Show marketing remark (242 chars)

    IMMACULATE 4BR,2BA SPLIT ON 1.3 ACRE CORNER LOT. BLT '92. NEUTRAL DECOR, COZY LL FAMILY RM W/BERBER CARPET & RECESSED LIGHTING. HUGE 16X20 DECK, OVERSIZED 2 CAR GAR, 12X12 STORAGE SHED. EASY I94 ACCESS-JUST MINUTES FROM THE TWIN CITIES!!!

18. 2003-01-19
    listed $184,900 242-char remark

    Show marketing remark (242 chars)

    IMMACULATE 4BR,2BA SPLIT ON 1.3 ACRE CORNER LOT. BLT '92. NEUTRAL DECOR, COZY LL FAMILY RM W/BERBER CARPET & RECESSED LIGHTING. HUGE 16X20 DECK, OVERSIZED 2 CAR GAR, 12X12 STORAGE SHED. EASY I94 ACCESS-JUST MINUTES FROM THE TWIN CITIES!!!

ⓘ 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: $3,600 · $300/mo
• Projected year-2 tax: $4,039 · $337/mo
• Expected delta: +$439/yr (+$37/mo · 12.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,358
• − Mortgage interest: −$22,401
• − Property taxes: −$3,600
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,469
• − Management: −$3,469
• − Depreciation: −$11,633
• Taxable loss: −$3,213
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $4,259/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

+116.3% since first listed

9 events — show timeline

• 2026-05-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $399,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-20 Coming Soon $425,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-27 Sold (Public Records) $185,000 Public Records
• 2003-05-15 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-19 Listed $184,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $3,600 · -1.6% YoY. Source: county tax records.