4808 132nd Ave NE #6 · New London, MN 56288

$67,000

1 bd · 1.0 ba · 459 sqft · SingleFamily · 45 Days on market

Built 2013 1,481 sqft lot $146/sqft · 49% below area Est $131k · 49% under $125/mo HOA · 16% of rent

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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 +15.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.5/10.0
• Schools +4.9/10.0
• DSCR +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Furnished 1 bedroom Park Model with Lake Access and Excellent Location on Corner Lot! So many great features! Come enjoy summer fun at the Lake in this fabulous Park Model where you can enjoy all the great amenities including: Kayaking, swimming, volleyball, pool table and a Boat Ramp! There is a Fish Cleaning Station for all those fishing trips and a community area residents can use to eat with their family too! The Park Model has a nice layout, gas stove for Cooking, Porch Area that includes a Pull-out Couch for guests and an outdoor screened in Gazebo area which is perfect for entertaining! Spend your Summer in Spicer where the Lakes are Nicer! This community takes care of the lawn care

Key facts

• 1,481 sq ft lot
• Built 2013
• Listed 45 days

Property features AI

Finance

• Other: Corner unit in Cedar Point Village (directions available)
• HOA & community: HOA with monthly fee ($125); Association amenities include beach access, dock, lawn care, parking, sewer, shared amenities and water; Association provides deeded/shared association access to waterfront (sand lake bottom) and an amusement/party room among shared rooms

Exterior

• Parking: Open parking
• Utilities: Shared water system; City sewer (connected); Propane fuel
• Home design: Residential property; One story; Main entry on main level
• Construction: Block foundation; Rubber roof; Built area with 459 above-grade finished square feet
• Exterior features: Vinyl exterior; Enclosed front porch; Corner lot

Interior

• Kitchen: Kitchen with cooktop; Refrigerator
• Bedrooms: One bedroom on the main level (approx. 9.4 x 9.8)
• Bathrooms: Main floor three-quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor bedroom; Enclosed front porch
• Laundry & utility: Has basement (no finished basement features listed)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $22 ($266/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($772 rent vs $67k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 1.7% in New London — 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 71/100 on livability (#309 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• New London-Spicer School District (town): math 55% / reading 58% proficiency, ranked #59 of 301 in MN (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 60 active listings in the ZIP; 196 units permitted in Kandiyohi County in 2024 (118 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $30k; list at $67k implies a 123% gain — meaningful room to come down on a strong offer.

Recommended offer $64,990 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.15% ✓
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 7.2

CMA / ARV

• ARV (median comp): $130,694
• List price: $67,000
• Delta: -48.74%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4808 NE 132nd Ave	0.06mi	2/1.0 (+1)	504 (+10%)	12mo	$135,300	$268	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-9,355
• Equity at exit: $9,990

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-5,967
• Equity at exit: $5,793

Cash invested: $18,760 (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 56288

• Active inventory: 60
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $772 medium
• Mortgage (P&I): −$351
• Tax est. 1.5%: −$84 /mo · $1,005/yr
• Insurance: −$28
• HOA: −$125
• Vacancy / Maint / Mgmt: −$162
• Net cashflow: $22

Break-even live

Break-even rent $744

Max offer price $67,000

Occupancy floor 92%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: gaslandscapingpool

Listing history 25 events

1. 2026-06-18
   days on market $67,000 Active 45 DOM
2. 2026-06-17
   days on market $67,000 Active 44 DOM
3. 2026-06-16
   days on market $67,000 Active 43 DOM
4. 2026-06-15
   days on market $67,000 Active 42 DOM
5. 2026-06-13
   days on market $67,000 Active 40 DOM
6. 2026-06-12
   days on market $67,000 Active 39 DOM
7. 2026-06-09
   days on market $67,000 Active 36 DOM
8. 2026-06-08
   days on market $67,000 Active 35 DOM
9. 2026-06-07
   days on market $67,000 Active 34 DOM
10. 2026-06-05
    days on market $67,000 Active 32 DOM
11. 2026-06-04
    days on market $67,000 Active 30 DOM
12. 2026-06-02
    days on market $67,000 Active 29 DOM
13. 2026-06-01
    days on market $67,000 Active 28 DOM
14. 2026-05-31
    days on market $67,000 Active 27 DOM
15. 2026-05-31
    days on market $67,000 Active 26 DOM
16. 2026-05-04
    listed $67,000 Active 782-char remark
17. 2023-09-16
    historical
18. 2023-06-06
    listed $74,700 Active
19. 2022-09-25
    historical
20. 2022-06-20
    listed $75,000 Active
21. 2019-02-02
    historical
22. 2019-02-02
    historical
23. 2016-07-13
    soldstatus $30,000
24. 2016-03-21
    listed $30,000
25. 2015-06-25
    listed $42,500

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,269
• − Mortgage interest: −$3,753
• − Property taxes: −$1,005
• − Insurance: −$335
• − Repairs & maintenance: −$742
• − Management: −$742
• − HOA: −$1,500
• − Depreciation: −$1,949
• Taxable loss: −$756
• Est. tax savings @ 24.0%: +$181
• After-tax cash flow: $448/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: New London-Spicer School District
• NCES district ID: 2723400
• Math proficiency: 55% ▼ -9.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $62,142
• Composite: 49.33/100
• National rank: #2020
• State rank: #59 of 301 in MN

Livability — New London

• Score: 71/100
• State rank: #309
• US rank: #6805

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,655

Population outlook (Kandiyohi County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 42,825 · -0.3%
• By 2040: 42,343 · -1.4%
• By 2050: 42,124 · -1.9%
• By 2075: 43,726 · +1.8%
• By 2100: 45,974 · +7.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 26% Iranian 3% Italian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Kandiyohi

• 2024 margin: Solid R (+31.0) · D 33.7% · R 64.7% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -5.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+25.7 2016: R+25.5 2012: R+6.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -163.25%
• Current HPI: 174.4674
• 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

+57.6% since first listed

10 events — show timeline

• 2026-05-04 Listed $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-06 Listed $74,700 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-20 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-13 Sold (MLS) $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-21 Listed $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-25 Listed $42,500 NORTHSTARMLS as Distributed by MLS Grid