3285 Vermilion Trl · Makinen, MN 55763

$37,900

3 bd · 1.0 ba · 2,788 sqft · Other public records · 34 Days on market

Built 1930 2.00 ac 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
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

Key facts

• Paved road
• Newer furnace
• Wide open yard

Tags

• PAVED ROAD
• QUICK COMMUTE
• NEWER FURNACE
• WIDE OPEN YARD
• FLAT YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $38k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mesabi East School District (rural): math 27% / reading 47% proficiency, ranked #240 of 301 in MN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($262 loan paydown + $2k appreciation (5.9% local appreciation)).
• At projected returns (5.9% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,763 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.51% ✓
• Cap rate: 29.60%
• Cash-on-cash: 83.23%
• DSCR: 4.70
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 89.8%
• Equity multiple: 6.43×
• Total profit: $57,659
• Equity at exit: $23,600

10-year hold

• IRR: 87.4%
• Equity multiple: 13.54×
• Total profit: $133,057
• Equity at exit: $42,603

Cash invested: $10,612 (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 55763

• Home prices YoY: 2.8%
• Active inventory: 14
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $736

Break-even live

Break-even rent $399

Max offer price $37,900

Occupancy floor 40%

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: $9,475
• Closing costs: $1,137
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-04-12
   status Pending
2. 2026-03-29
   price $37,900
3. 2026-03-10
   listed $39,900 Active
4. 2026-02-03
   soldstatus $27,500 Closed 182-char remark

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

5. 2026-01-11
   status Pending 182-char remark

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

6. 2025-10-21
   price $42,900 182-char remark

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

7. 2025-10-21
   price $42,900

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

8. 2025-09-11
   price $44,900 182-char remark

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

9. 2025-09-11
   price $44,900

   Show marketing remark (182 chars)

   Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

10. 2025-08-04
    price $54,900

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

11. 2025-08-04
    price $54,900 182-char remark

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

12. 2025-06-20
    price $64,900

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

13. 2025-06-20
    price $64,900 182-char remark

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

14. 2025-05-07
    price $79,900
15. 2025-03-28
    price $89,850
16. 2025-03-28
    price $89,580
17. 2025-02-19
    price $99,000

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

18. 2025-02-19
    listed $9,900 Active

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

19. 2025-02-19
    listed $79,900 Active 182-char remark

    Show marketing remark (182 chars)

    Great location on a paved road making a quick commute to everywhere. Large home with a newer furnace and plenty of room for everything. Great yard wide open and flat for easy mowing.

ⓘ 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: $1,206 · $100/mo
• Projected year-2 tax: $1,206 · $100/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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,965
• − Mortgage interest: −$2,123
• − Property taxes: −$1,206
• − Insurance: −$190
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$1,103
• Taxable income: $8,790
• Est. tax owed @ 24.0%: −$2,110
• After-tax cash flow: $6,722/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: Mesabi East School District
• NCES district ID: 2791450
• Math proficiency: 27% ▼ -17.00%
• Reading proficiency: 47% ▼ -8.00%
• Median HH income: $47,546
• Composite: 31.69/100
• National rank: #5922
• State rank: #240 of 301 in MN

Livability — Makinen

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

Census & demographics

• Population (ZIP): 467

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Romanian 12% Portuguese 6% Scotch-Irish 5%
• Foreign-born: 2%
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.91%
• Current HPI: 216.3814
• 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

+282.8% since first listed

19 events — show timeline

• 2026-04-12 Pending — LSAR
• 2026-03-29 Price Changed $37,900 LSAR
• 2026-03-10 Listed $39,900 LSAR
• 2026-02-03 Sold (MLS) $27,500 LSAR
• 2026-01-11 Pending — LSAR
• 2025-10-21 Price Changed $42,900 LSAR
• 2025-10-21 Price Changed $42,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-11 Price Changed $44,900 LSAR
• 2025-09-11 Price Changed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-04 Price Changed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-04 Price Changed $54,900 LSAR
• 2025-06-20 Price Changed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-20 Price Changed $64,900 LSAR
• 2025-05-07 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-28 Price Changed $89,850 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-28 Price Changed $89,580 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-19 Price Changed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-19 Listed $79,900 LSAR
• 2025-02-19 Listed $9,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+15.5%/yr

Latest (2025): $1,206 · +26.2% YoY. Source: county tax records.