29284 Mchugh Rd · Detroit Lakes, MN 56501

$269,000

4 bd · 2.0 ba · 1,782 sqft · SingleFamily public records · 75 Days on market

Built 2000 7.34 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 +29.2/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A tree-lined driveway sets the tone for the property’s natural setting on 7+acres. Placed in this peaceful setting is the 5 bedroom 2 bath dwelling which provides a place to call home. Two outbuildings extend the property’s versatility, ideal for storage, hobbies, or those who require room for equipment, vehicles, or creative pursuits. Whether you're a collector, a craftsman, or simply someone who values options, the infrastructure is already in place. Located within close proximity to downtown and offering an easy drive to Big Detroit Lake access, this property presents a unique opportunity to enjoy the best of Lakes Country living.

Key facts

• Tree-lined driveway
• Outbuildings
• Lakes country living

Tags

• TREE-LINED DRIVEWAY
• NATURAL SETTING
• OUTBUILDINGS
• CLOSE PROXIMITY TO DOWNTOWN
• LAKES COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $253k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.7% in Detroit Lakes — 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 80/100 on livability (#78 in MN, #1,847 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Detroit Lakes Public School District (town): math 44% / reading 50% proficiency, ranked #155 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 307 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 B-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: 1.21% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.95%
• DSCR: 1.67
• GRM: 6.9

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: 5.5%
• Equity multiple: 1.21×
• Total profit: $16,075
• Equity at exit: $40,109

10-year hold

• IRR: 14.9%
• Equity multiple: 2.20×
• Total profit: $90,583
• Equity at exit: $23,258

Cash invested: $75,320 (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 56501

• Active inventory: 307
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,259 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $938

Break-even live

Break-even rent $2,072

Max offer price $269,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,090	-5% $1,014	+0% $938	+5% $862	+10% $786
Rent	-10% $681	-5% $809	+0% $938	+5% $1,067	+10% $1,196
Rate	-1.0pp $1,074	-0.5pp $1,007	base $938	+0.5pp $868	+1.0pp $798

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $269,000 Active 75 DOM
2. 2026-06-18
   days on market $269,000 Active 73 DOM
3. 2026-06-17
   days on market $269,000 Active 72 DOM
4. 2026-06-16
   days on market $269,000 Active 71 DOM
5. 2026-06-15
   days on market $269,000 Active 70 DOM
6. 2026-06-13
   days on market $269,000 Active 68 DOM
7. 2026-06-12
   pricedays on market $269,000 Active 67 DOM
8. 2026-06-09
   days on market $275,000 Active 64 DOM
9. 2026-06-08
   days on market $275,000 Active 63 DOM
10. 2026-06-07
    days on market $275,000 Active 62 DOM
11. 2026-06-07
    days on market $275,000 Active 61 DOM
12. 2026-06-04
    days on market $275,000 Active 58 DOM
13. 2026-06-02
    days on market $275,000 Active 57 DOM
14. 2026-06-01
    days on market $275,000 Active 56 DOM
15. 2026-05-31
    days on market $275,000 Active 55 DOM
16. 2026-05-31
    days on market $275,000 Active 54 DOM
17. 2026-04-29
    price $275,000 658-char remark

    Show marketing remark (658 chars)

    A tree-lined driveway sets the tone for the property’s natural setting on 7+acres. Placed in this peaceful setting is the 5 bedroom 2 bath dwelling which provides a place to call home. Two outbuildings extend the property’s versatility, ideal for storage, hobbies, or those who require room for equipment, vehicles, or creative pursuits. Whether you're a collector, a craftsman, or simply someone who values options, the infrastructure is already in place. Located within close proximity to downtown and offering an easy drive to Big Detroit Lake access, this property presents a unique opportunity to enjoy the best of Lakes Country living.

18. 2026-04-06
    listed $289,000 Active 658-char remark

    Show marketing remark (658 chars)

    A tree-lined driveway sets the tone for the property’s natural setting on 7+acres. Placed in this peaceful setting is the 5 bedroom 2 bath dwelling which provides a place to call home. Two outbuildings extend the property’s versatility, ideal for storage, hobbies, or those who require room for equipment, vehicles, or creative pursuits. Whether you're a collector, a craftsman, or simply someone who values options, the infrastructure is already in place. Located within close proximity to downtown and offering an easy drive to Big Detroit Lake access, this property presents a unique opportunity to enjoy the best of Lakes Country living.

19. 2026-04-01
    historical
20. 2025-11-01
    price $299,000
21. 2025-10-11
    listed $315,000 Active
22. 2025-10-06
    historical
23. 2017-09-21
    historical
24. 2017-04-04
    listed $134,000

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: +$823/yr (+$69/mo · 60.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,110
• − Mortgage interest: −$15,068
• − Property taxes: −$1,366
• − Insurance: −$1,345
• − Repairs & maintenance: −$3,129
• − Management: −$3,129
• − Depreciation: −$7,825
• Taxable income: $7,248
• Est. tax owed @ 24.0%: −$1,739
• After-tax cash flow: $9,518/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: Detroit Lakes Public School District
• NCES district ID: 2710230
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $50,571
• Composite: 40.33/100
• National rank: #3746
• State rank: #155 of 301 in MN

Livability — Detroit Lakes

• Score: 80/100
• State rank: #78
• US rank: #1847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,239
• Population (ZIP): 18,239

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Native American 2%
• Common ancestry: Portuguese 25% Scottish 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.40%
• Current HPI: 217.4973
• 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

+105.2% since first listed

8 events — show timeline

• 2026-04-29 Price Changed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Listed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-01 Price Changed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-11 Listed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-06 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-04 Listed $134,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $1,366 · +25.6% YoY. Source: county tax records.