82090 State Highway 251 · Hollandale, MN 56045

$149,000

3 bd · 2.0 ba · 1,203 sqft · Manufactured public records · 28 Days on market

Built 2000 1.20 ac 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 +10.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks MLS

Quiet country living at an affordable price conveniently located just outside of Hollandale. This 3 bed 2 bath home has plenty of space to offer along with the privacy of living out on 1.2 acres! With all living facilities on the same level and hardwood floors throughout, this home is a deal! Home also includes a large 2 car garage. Schedule your showing today!

Key facts

• New furnace
• Large garage
• Plenty of storage

Tags

• SPACIOUS ONE-LEVEL LIVING
• BEAUTIFUL HARDWOOD FLOORS
• NEW FURNACE
• NEW REFRIGERATOR
• LARGE GARAGE
• PLENTY OF STORAGE

Property features AI

Finance

• Other: Lot approximately 1.2 acres (dimensions 282x185)

Exterior

• Parking: Attached garage with two spaces (garage dimensions 26x27)
• Utilities: Private well water; Septic system (compliant); Propane fuel
• Home design: Residential property; One-story; Main entry on main level
• Construction: Built on an 'Other' foundation; Above-ground finished area 1,203 (living area)
• Exterior features: Vinyl exterior; Metal roof

Interior

• Kitchen: Kitchen (dimensions listed)
• Bedrooms: Three bedrooms, all on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dining room on the main level; Living room on the main level; Kitchen on the main level; Main-level layout throughout (one level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $-210 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (26.2% below list).
• Recommended offer: $110k (26.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#594 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Albert Lea Public School District (town): math 30% / reading 40% proficiency, ranked #258 of 301 in MN (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Halverson Elementary (math 37% / reading 42%, grade F, #604 of 857 statewide, top 74%, 389 students, 80% FRL); Southwest Middle (math 19% / reading 38%, grade F, #210 of 258 statewide, top 81%, 474 students, 62% FRL); Albert Lea Senior High (math 23% / reading 37%, grade F, #345 of 471 statewide, top 74%, 1,218 students, 53% FRL) — zoned schools average 65% FRL vs 40% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 7 active listings in the ZIP; 16 units permitted in Freeborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Freeborn County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $100k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,926 (26.2% 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.74% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.45%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.62×
• Total profit: $67,795
• Equity at exit: $134,231

10-year hold

• IRR: 18.3%
• Equity multiple: 6.04×
• Total profit: $210,276
• Equity at exit: $289,474

Cash invested: $41,720 (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 56045

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$110 /mo · $1,322/yr
• Insurance: −$62
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-210

Break-even live

Break-even rent $1,366

Max offer price $111,829

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-168	+0% $-210	+5% $-253	+10% $-295
Rent	-10% $-297	-5% $-254	+0% $-210	+5% $-167	+10% $-124
Rate	-1.0pp $-135	-0.5pp $-173	base $-210	+0.5pp $-249	+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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $149,000 Active 28 DOM
2. 2026-06-18
   days on market $149,000 Active 27 DOM
3. 2026-06-17
   days on market $149,000 Active 26 DOM
4. 2026-06-16
   days on market $149,000 Active 25 DOM
5. 2026-06-15
   days on market $149,000 Active 24 DOM
6. 2026-06-14
   days on market $149,000 Active 22 DOM
7. 2026-06-12
   days on market $149,000 Active 21 DOM
8. 2026-06-09
   days on market $149,000 Active 18 DOM
9. 2026-06-08
   days on market $149,000 Active 17 DOM
10. 2026-06-07
    days on market $149,000 Active 16 DOM
11. 2026-06-05
    days on market $149,000 Active 13 DOM
12. 2026-06-03
    days on market $149,000 Active 12 DOM
13. 2026-06-02
    days on market $149,000 Active 11 DOM
14. 2026-06-01
    days on market $149,000 Active 10 DOM
15. 2026-05-31
    days on market $149,000 Active 9 DOM
16. 2026-05-30
    days on market $149,000 Active 8 DOM
17. 2026-05-22
    listed $149,000 Active
18. 2021-09-30
    soldstatus $100,000 Sold 363-char remark

    Show marketing remark (363 chars)

    Quiet country living at an affordable price conveniently located just outside of Hollandale. This 3 bed 2 bath home has plenty of space to offer along with the privacy of living out on 1.2 acres! With all living facilities on the same level and hardwood floors throughout, this home is a deal! Home also includes a large 2 car garage. Schedule your showing today!

19. 2021-09-30
    soldstatus $100,000

    Show marketing remark (363 chars)

    Quiet country living at an affordable price conveniently located just outside of Hollandale. This 3 bed 2 bath home has plenty of space to offer along with the privacy of living out on 1.2 acres! With all living facilities on the same level and hardwood floors throughout, this home is a deal! Home also includes a large 2 car garage. Schedule your showing today!

20. 2021-06-17
    status Pending 363-char remark

    Show marketing remark (363 chars)

    Quiet country living at an affordable price conveniently located just outside of Hollandale. This 3 bed 2 bath home has plenty of space to offer along with the privacy of living out on 1.2 acres! With all living facilities on the same level and hardwood floors throughout, this home is a deal! Home also includes a large 2 car garage. Schedule your showing today!

21. 2021-05-24
    listed $109,900 Active 363-char remark

    Show marketing remark (363 chars)

    Quiet country living at an affordable price conveniently located just outside of Hollandale. This 3 bed 2 bath home has plenty of space to offer along with the privacy of living out on 1.2 acres! With all living facilities on the same level and hardwood floors throughout, this home is a deal! Home also includes a large 2 car garage. Schedule your showing today!

22. 2019-06-27
    soldstatus $25,000 Sold 167-char remark

    Show marketing remark (167 chars)

    Property being sold AS IS. 3 Bedroom manufactured home that needs work on 1.2 acres! Double stall detached garage. Well is not running and septic may not be compliant.

23. 2019-06-21
    soldstatus $25,000
24. 2019-06-17
    status Pending 167-char remark

    Show marketing remark (167 chars)

    Property being sold AS IS. 3 Bedroom manufactured home that needs work on 1.2 acres! Double stall detached garage. Well is not running and septic may not be compliant.

25. 2019-06-11
    historical Contingent - Inspection 167-char remark

    Show marketing remark (167 chars)

    Property being sold AS IS. 3 Bedroom manufactured home that needs work on 1.2 acres! Double stall detached garage. Well is not running and septic may not be compliant.

26. 2019-05-14
    listed $39,900 Active 167-char remark

    Show marketing remark (167 chars)

    Property being sold AS IS. 3 Bedroom manufactured home that needs work on 1.2 acres! Double stall detached garage. Well is not running and septic may not be compliant.

27. 2018-12-11
    historical
28. 2011-09-15
    soldstatus $31,000
29. 2011-09-15
    soldstatus $31,000
30. 2011-05-05
    listed $39,900
31. 2011-05-05
    listed $39,900

ⓘ 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: $1,322 · $110/mo
• Projected year-2 tax: $1,495 · $125/mo
• Expected delta: +$173/yr (+$14/mo · 13.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥99°F today · 16 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: $13,191
• − Mortgage interest: −$8,346
• − Property taxes: −$1,322
• − Insurance: −$2,248
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$4,335
• Taxable loss: −$5,170
• Est. tax savings @ 24.0%: +$1,241
• After-tax cash flow: $-1,284/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: Albert Lea Public School District
• NCES district ID: 2702970
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $42,776
• Composite: 29.62/100
• National rank: #6472
• State rank: #258 of 301 in MN

Livability — Hollandale

• Score: 64/100
• State rank: #594
• US rank: #14248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 966

Population outlook (Freeborn County) Hauer SSP2

• Today (2025): 29,680 people
• By 2030: 29,038 · -2.2%
• By 2040: 27,650 · -6.8%
• By 2050: 26,387 · -11.1%
• By 2075: 25,224 · -15.0%
• By 2100: 23,842 · -19.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Portuguese 25% Iranian 16% Slovak 3%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Freeborn

• 2024 margin: Strong R (+21.3) · D 38.7% · R 60.0% · Other 1.3%
• 2008→2024 swing: -38.5pp toward R · 2008: 17.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+16.0 2016: R+17.4 2012: D+14.2 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.69%
• Current HPI: 314.3639
• 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

+273.4% since first listed

15 events — show timeline

• 2026-05-22 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-30 Sold (Public Records) $100,000 Public Records
• 2021-09-30 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-24 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-27 Sold (MLS) $25,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-21 Sold (Public Records) $25,000 Public Records
• 2019-06-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-14 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-15 Sold (MLS) $31,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-15 Sold (MLS) $31,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-05 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-05 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $1,322 · +9.4% YoY. Source: county tax records.