13100 318th St #131 · Chisago Lake, MN 55045

$80,000

2 bd · 1.0 ba · 1,120 sqft · Other · 4 Days on market

Built 1992 6,534 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very spacious 2BR 1BA with 2 off-street parking spots and large level lot with 10x10 storage shed in one of the areas desirable manufactured home parks; with lake access and adjacent to large regional lake park Allmansratt Park with walking trails and water access. Slips available for $500 a season. North Center connected to South Center Lake for up to 3000 acres of navigable lake under current water conditions.

Key facts

• 6,534 sq ft lot
• Built 1992
• Listed 4 days

Property features AI

Finance

• Other: Property has additional parcels
• Financial info: Land lease in place (land is leased) with monthly land lease payment
• HOA & community: Association: Blue Waters Leisure; Association amenities include beach and boat slip; Association fee covers parking, professional management, sewer and water

Exterior

• Parking: Concrete parking; Guest parking; Additional onsite parking available for a fee; Open parking (no garage or carport)
• Utilities: Water from shared system and private well; Shared, compliant septic system; Electric service with circuit breakers; Natural gas
• Home design: Manufactured home; Single-story; One-level entry; Residential property
• Construction: Asphalt roof (age over 8 years); Foundation: other (dimensions approximately 16 x 72); Built on a foundation area of about 1,120
• Exterior features: Vinyl exterior; Light tree coverage; Porch; Association access to waterfront (gravel and sand lake bottom); road between waterfront and home

Interior

• Kitchen: Eat-in kitchen; Range; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms on the main level (12 x 10; 14 x 12)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Ceiling fan(s); Kitchen window; Main floor primary bedroom; Porch
• Laundry & utility: Washer and dryer (laundry located in hall); Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $974 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Chisago Lakes School District (town): math 45% / reading 56% proficiency, ranked #91 of 301 in MN (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 77 active listings in the ZIP; 362 units permitted in Chisago County in 2024 (121 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chisago County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $44k; list at $80k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $80,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
3. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
4. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 2.42% ✓
• Cap rate: 20.90%
• Cash-on-cash: 52.17%
• DSCR: 3.32
• GRM: 3.4

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: 50.1%
• Equity multiple: 3.19×
• Total profit: $49,088
• Equity at exit: $11,928

10-year hold

• IRR: 55.6%
• Equity multiple: 6.48×
• Total profit: $122,727
• Equity at exit: $6,917

Cash invested: $22,400 (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 55045

• Home prices YoY: -20.4%
• Active inventory: 77
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,932 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $974

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 45%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $80,000 Active 4 DOM
2. 2026-06-17
   days on market $80,000 Active 3 DOM
3. 2026-06-16
   days on market $80,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $80,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 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 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,190
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − Depreciation: −$2,327
• Taxable income: $11,071
• Est. tax owed @ 24.0%: −$2,657
• After-tax cash flow: $9,029/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: Chisago Lakes School District
• NCES district ID: 2700017
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 56% ▼ -10.00%
• Median HH income: $71,167
• Composite: 45.18/100
• National rank: #2674
• State rank: #91 of 301 in MN

Livability — Chisago Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,854

Population outlook (Chisago County) Hauer SSP2

• Today (2025): 55,187 people
• By 2030: 55,036 · -0.3%
• By 2040: 53,293 · -3.4%
• By 2050: 49,157 · -10.9%
• By 2075: 38,399 · -30.4%
• By 2100: 24,646 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Chisago

• 2024 margin: Solid R (+31.4) · D 33.5% · R 64.9% · Other 1.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -10.3pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.2 2016: R+30.5 2012: R+12.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.38%
• Current HPI: 308.8275
• 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

+35.6% since first listed

5 events — show timeline

• 2026-06-14 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-24 Sold (MLS) $44,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-13 Price Changed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-13 Listed $59,000 NORTHSTARMLS as Distributed by MLS Grid