10587 Town Road 34 · Mizpah, MN 56660

$74,000

3 bd · 1.0 ba · 924 sqft · SingleFamily public records · 320 Days on market

Built 1965 1.32 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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located just off the Blue Ox Trial for Atv's and snowmobiling. Property has mature trees. Large yard. Mobile home is in need of repair. Garage has propane heat. Insulated. Concrete floor. 2 standard garage doors. Service door. Barn is 20 x 20. 2nd garage for storage. Has water,sewer,electric. Located near good fishing lakes. Nearby public lands for hunting opportunities 5g internet available. Good location for starter home or cabin. "AS IS"

Key facts

• Large yard
• Propane heat
• Service door

Tags

• MATURE TREES
• LARGE YARD
• PROPANE HEAT
• INSULATED
• CONCRETE FLOOR
• SERVICE DOOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($960 rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#797 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime D-.
• South Koochiching School District (rural): math 45% / reading 45% proficiency, ranked #333 of 467 in MN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 26 units permitted in Koochiching County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($512 loan paydown + $2k appreciation (3.0% local appreciation)).
• Koochiching County population projected at -27% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $74k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $65,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 6.4

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: 24.1%
• Equity multiple: 2.37×
• Total profit: $28,306
• Equity at exit: $33,274

10-year hold

• IRR: 24.9%
• Equity multiple: 4.55×
• Total profit: $73,543
• Equity at exit: $51,279

Cash invested: $20,720 (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 56660

• Active inventory: 5
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$388
• Tax from tax record: −$35 /mo · $420/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $305

Break-even live

Break-even rent $575

Max offer price $74,000

Occupancy floor 63%

Sensitivity live

Price	-10% $347	-5% $326	+0% $305	+5% $284	+10% $263
Rent	-10% $229	-5% $267	+0% $305	+5% $343	+10% $381
Rate	-1.0pp $342	-0.5pp $324	base $305	+0.5pp $286	+1.0pp $266

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $74,000 Active 320 DOM
2. 2026-06-18
   days on market $74,000 Active 318 DOM
3. 2026-06-17
   days on market $74,000 Active 317 DOM
4. 2026-06-16
   days on market $74,000 Active 316 DOM
5. 2026-06-15
   days on market $74,000 Active 315 DOM
6. 2026-06-13
   days on market $74,000 Active 313 DOM
7. 2026-06-12
   days on market $74,000 Active 312 DOM
8. 2026-06-09
   days on market $74,000 Active 309 DOM
9. 2026-06-08
   days on market $74,000 Active 308 DOM
10. 2026-06-07
    days on market $74,000 Active 307 DOM
11. 2026-06-05
    days on market $74,000 Active 305 DOM
12. 2026-06-04
    days on market $74,000 Active 303 DOM
13. 2026-06-02
    days on market $74,000 Active 302 DOM
14. 2026-06-01
    days on market $74,000 Active 301 DOM
15. 2026-05-31
    days on market $74,000 Active 300 DOM
16. 2026-05-31
    days on market $74,000 Active 299 DOM
17. 2026-01-07
    price $74,000 455-char remark

    Show marketing remark (455 chars)

    Located just off the Blue Ox Trial for Atv's and snowmobiling. Property has mature trees. Large yard. Mobile home is in need of repair. Garage has propane heat. Insulated. Concrete floor. 2 standard garage doors. Service door. Barn is 20 x 20. 2nd garage for storage. Has water,sewer,electric. Located near good fishing lakes. Nearby public lands for hunting opportunities 5g internet available. Good location for starter home or cabin. "AS IS"

18. 2025-08-04
    listed $79,000 Active 455-char remark

    Show marketing remark (455 chars)

    Located just off the Blue Ox Trial for Atv's and snowmobiling. Property has mature trees. Large yard. Mobile home is in need of repair. Garage has propane heat. Insulated. Concrete floor. 2 standard garage doors. Service door. Barn is 20 x 20. 2nd garage for storage. Has water,sewer,electric. Located near good fishing lakes. Nearby public lands for hunting opportunities 5g internet available. Good location for starter home or cabin. "AS IS"

19. 2017-06-19
    soldstatus $40,500
20. 2000-06-01
    soldstatus $11,000

ⓘ 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: $420 · $35/mo
• Projected year-2 tax: $624 · $52/mo
• Expected delta: +$204/yr (+$17/mo · 48.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,524
• − Mortgage interest: −$4,145
• − Property taxes: −$420
• − Insurance: −$370
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$2,153
• Taxable income: $2,593
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $3,035/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: South Koochiching School District
• NCES district ID: 2732700
• Math proficiency: 45% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $40,157
• Composite: 39.92/100
• National rank: #7917
• State rank: #333 of 467 in MN

Livability — Mizpah

• Score: 59/100
• State rank: #797
• US rank: #20200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 265

Population outlook (Koochiching County) Hauer SSP2

• Today (2025): 11,977 people
• By 2030: 11,406 · -4.8%
• By 2040: 10,045 · -16.1%
• By 2050: 8,746 · -27.0%
• By 2075: 6,363 · -46.9%
• By 2100: 4,275 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Native American 2% Black 1%
• Common ancestry: Slovene 9% Portuguese 9% Iranian 8%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Koochiching

• 2024 margin: Strong R (+25.7) · D 36.4% · R 62.0% · Other 1.6%
• 2008→2024 swing: -35.8pp toward R · 2008: 10.1pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+21.3 2016: R+20.0 2012: D+9.5 2008: D+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+572.7% since first listed

4 events — show timeline

• 2026-01-07 Price Changed $74,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-04 Listed $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-19 Sold (Public Records) $40,500 Public Records
• 2000-06-01 Sold (Public Records) $11,000 Public Records

Property tax history

+6.3%/yr

Latest (2026): $420 · +4.5% YoY. Source: county tax records.