12536 Guadalcanal Cir NE Unit E · Blaine, MN 55449

$389,900

4 bd · 3.0 ba · 2,027 sqft · Condo public records · 4 Days on market

Built 2023 Good condition Garage $192/sqft · 30% below area Est $537k · 27% under $279/mo HOA · 8% of rent ↓ 3% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Schools +5.5/10.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

***Ask how you can receive a fixed 30 year interest rate of 6.25%, and up to $10,000 towards closing costs!*** Beautiful end unit two story 4 bedroom townhome now available at our Harper's Landing community in Blaine. The Elton is one of our most popular plans featuring an expansive open concept main floor which is flooded with natural light. High end finishes such as quartz countertops, stainless steel appliances, and LVP flooring abound in this home. Upstairs you will find four generously sized bedrooms including a private main suite with it's own private bath. The upstairs loft creates a versatile space to use how you need. Harper's Landing is located right in the center of Blaine close to all the shopping and amenities you need. Less than a mile from The Lakes, you can take a short trip there to utilize their playgrounds, beaches, miles of walking trails, and play areas.

Key facts

• Upper level laundry
• Quartz countertops
• End unit

Tags

• END UNIT
• UPPER LEVEL LAUNDRY
• ELECTRIC FIREPLACE
• KITCHEN ISLAND
• QUARTZ COUNTERTOPS
• STAINLESS APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $390k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $368k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $338k (13.4% below list).
• Recommended offer: $338k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.9% in Blaine — 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 (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Johnsville Elementary (math 52% / reading 58%, grade C, #310 of 857 statewide, top 37%, 674 students, 44% FRL); Roosevelt Middle (math 46% / reading 61%, grade C+, #51 of 258 statewide, top 20%, 809 students, 30% FRL); Blaine High School (math 46% / reading 67%, grade C, #77 of 471 statewide, top 17%, 2,969 students, 37% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 336 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 48d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• This rent runs 31% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $337,663 (13.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 9.6

CMA / ARV

• ARV (median comp): $536,587
• List price: $389,900
• Delta: -26.85%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4393 128th Ln NE	1.75mi	4/3.0	2,245 (+11%)	10mo	$515,000	$229	39
12489 Midway Cir NE	0.46mi	4/3.0	2,617 (+29%)	19mo	$450,000	$172	38
12309 N Lake Blvd	0.61mi	3/3.0 (-1)	2,296 (+13%)	11mo	$510,000	$222	35
12294 Kiska Cir NE	0.40mi	3/3.0 (-1)	2,440 (+20%)	23mo	$562,000	$230	32
12155 Hupp St NE	1.86mi	4/3.0	1,852 (-9%)	33mo	$347,000	$187	31
3292 119th Ave NE	0.90mi	3/3.0 (-1)	1,805 (-11%)	19mo	$450,000	$249	26
12717 Radisson Rd NE	1.27mi	3/2.0 (-1)	1,830 (-10%)	22mo	$300,000	$164	21
11035 Okinawa Ln NE	2.03mi	4/3.0	2,355 (+16%)	33mo	$540,000	$229	20
12895 Isetta Ct NE	1.87mi	4/3.0	2,439 (+20%)	38mo	$554,990	$228	20
13134 National St NE	2.20mi	4/4.0	2,402 (+18%)	27mo	$525,235	$219	16
3864 112th Cir NE	2.06mi	3/3.0 (-1)	2,605 (+28%)	25mo	$555,000	$213	15
12111 Xylite St NE Unit B	0.81mi	2/2.0 (-2)	1,486 (-27%)	26mo	$263,000	$177	6

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 · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.39×
• Total profit: $-66,078
• Equity at exit: $58,135

10-year hold

• IRR: -6.2%
• Equity multiple: 0.57×
• Total profit: $-46,598
• Equity at exit: $33,711

Cash invested: $109,172 (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 →

Active competition Active MLS

• For sale now: 0 active · 3 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 336
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,377 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$305 /mo · $3,665/yr
• Insurance: −$162
• HOA: −$279
• Vacancy / Maint / Mgmt: −$709
• Net cashflow: $-124

Break-even live

Break-even rent $3,534

Max offer price $367,986

Occupancy floor 99%

Sensitivity live

Price	-10% $97	-5% $-14	+0% $-124	+5% $-234	+10% $-345
Rent	-10% $-391	-5% $-257	+0% $-124	+5% $9	+10% $143
Rate	-1.0pp $72	-0.5pp $-25	base $-124	+0.5pp $-225	+1.0pp $-328

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: $97,475
• Closing costs: $11,697
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12335 Midway Cir NE Minneapolis, MN	4.0	2.0	2150	$2,800	$1.30	52d	1	0.53mi
2445 120th Cir NE Blaine, MN	2.0–4.0	2.5–3.5	1894	$3,986	$2.10	7d	18	0.84mi
2444 120th Ln NE Blaine, MN	3.0	2.5	1858	$3,345	$1.80	47d	1	0.90mi

Property features AI

Finance

• Other: Association-maintained road responsibility
• HOA & community: HOA managed by AssociaMonthly association fee of $279HOA covers lawn care, professional management, snow removalAssociation includes in-ground sprinkler system

Exterior

• Parking: Attached insulated garage with opener2 garage spaces (approx. 23 x 20)
• Security: Security system
• Utilities: City water (connected)City sewer (connected)Natural gasElectric service by Connexus Energy
• Home design: Attached residential propertyTwo levelsMain level living area and kitchenSlab foundation
• Construction: Shingle roof replaced within last 8 yearsSlab foundationBuilt as part of an attached development
• Exterior features: Vinyl exteriorPatioPaved streetsAssociation-maintained roadsNo fencingNo poolLot dimensions E31 x 70

Interior

• Kitchen: Kitchen with center islandRangeMicrowaveRefrigeratorDishwasherDisposalStainless steel appliances
• Bedrooms: 4 bedrooms totalPrimary bedroom with private 3/4 bath and double sinkThree additional bedrooms on upper levelLoft area on upper level
• Bathrooms: Primary 3/4 bathUpper level full bathMain floor half bathDouble sink in primary bath
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Smart technologyAir-to-air exchangerHumidifierWater softener (owned)Exhaust fanElectric water heaterSecurity systemInformal dining areaKitchen/dining room layoutNo basementFireplace (electric) in living room
• Laundry & utility: In-unit laundry on upper levelWasher and dryer included

HOA detail $279/mo · $3,348/yr condo

• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $389,900 Active 4 DOM
2. 2026-08-06
   days on market $389,900 Active 2 DOM
3. 2026-08-04
   remarks 699-char remark
4. 2026-08-04
   pricedays on marketlisting id $389,900 Active 1 DOM
5. 2026-07-31
   days on market $392,500 Active 112 DOM
6. 2026-07-30
   days on market $392,500 Active 111 DOM
7. 2026-07-30
   days on market $392,500 Active 110 DOM
8. 2026-07-28
   days on market $392,500 Active 109 DOM
9. 2026-07-26
   days on market $392,500 Active 107 DOM
10. 2026-07-24
    days on market $392,500 Active 105 DOM
11. 2026-07-23
    days on market $392,500 Active 104 DOM
12. 2026-07-22
    days on market $392,500 Active 103 DOM
13. 2026-07-21
    days on market $392,500 Active 102 DOM
14. 2026-07-20
    days on market $392,500 Active 101 DOM
15. 2026-07-18
    days on market $392,500 Active 99 DOM
16. 2026-07-18
    days on market $392,500 Active 98 DOM
17. 2026-07-16
    days on market $392,500 Active 97 DOM
18. 2026-07-15
    days on market $392,500 Active 96 DOM
19. 2026-07-14
    days on market $392,500 Active 95 DOM
20. 2026-07-13
    days on market $392,500 Active 94 DOM
21. 2026-07-13
    days on market $392,500 Active 93 DOM
22. 2026-07-11
    pricedays on market $392,500 Active 92 DOM
23. 2026-07-10
    days on market $399,900 Active 91 DOM
24. 2026-07-09
    days on market $399,900 Active 90 DOM
25. 2026-07-07
    days on market $399,900 Active 88 DOM
26. 2026-07-06
    days on market $399,900 Active 87 DOM
27. 2026-07-06
    days on market $399,900 Active 86 DOM
28. 2026-07-05
    days on market $399,900 Active 85 DOM
29. 2026-07-03
    days on market $399,900 Active 84 DOM
30. 2026-07-02
    days on market $399,900 Active 83 DOM
31. 2026-07-01
    days on market $399,900 Active 82 DOM
32. 2026-06-30
    days on market $399,900 Active 81 DOM
33. 2026-06-29
    days on market $399,900 Active 80 DOM
34. 2026-06-28
    days on market $399,900 Active 79 DOM
35. 2026-06-27
    days on market $399,900 Active 78 DOM
36. 2026-06-26
    days on market $399,900 Active 77 DOM
37. 2026-06-24
    days on market $399,900 Active 75 DOM
38. 2026-06-22
    days on market $399,900 Active 73 DOM
39. 2026-06-21
    days on market $399,900 Active 72 DOM
40. 2026-06-18
    days on market $399,900 Active 69 DOM
41. 2026-06-17
    days on market $399,900 Active 68 DOM
42. 2026-06-16
    days on market $399,900 Active 67 DOM
43. 2026-06-15
    days on market $399,900 Active 66 DOM
44. 2026-06-13
    days on market $399,900 Active 64 DOM
45. 2026-06-13
    days on market $399,900 Active 63 DOM
46. 2026-06-09
    days on market $399,900 Active 60 DOM
47. 2026-06-08
    days on market $399,900 Active 59 DOM
48. 2026-06-07
    days on market $399,900 Active 58 DOM
49. 2026-06-04
    days on market $399,900 Active 55 DOM
50. 2026-06-03
    days on market $399,900 Active 54 DOM

ⓘ 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: $3,665 · $305/mo
• Projected year-2 tax: $4,016 · $335/mo
• Expected delta: +$351/yr (+$29/mo · 9.6%)

ⓘ 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 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,520
• − Mortgage interest: −$21,840
• − Property taxes: −$3,665
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,242
• − Management: −$3,242
• − HOA: −$3,348
• − Depreciation: −$11,343
• Taxable loss: −$8,109
• Est. tax savings @ 24.0%: +$1,946
• After-tax cash flow: $458/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This end-unit two-story townhome in Harper's Landing is in good condition with modern finishes and a bright, open-concept layout. It's move-in ready with minimal maintenance required.

Value-add opportunities

• Both painting — Neutral paint can be refreshed to enhance curb appeal and interior aesthetics ↑
• Both landscaping — A well-maintained lawn and landscaping can significantly boost curb appeal and property value ↑

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary Johnsville Elementary C MN #310/857 Nat'l #9,637/41,679 Middle Roosevelt Middle C+ MN #51/258 Nat'l #2,785/14,009 High Blaine High School C MN #77/471 Nat'l #4,271/17,239

Schools (NCES district)

• District: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

B Composite livability gradescore 71/100

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 375,223 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 14% of renters

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Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

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Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

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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

Property features AI

Finance

• Other: Association-maintained road responsibility
• HOA & community: HOA managed by AssociaMonthly association fee of $279HOA covers lawn care, professional management, snow removalAssociation includes in-ground sprinkler system

Exterior

• Parking: Attached insulated garage with opener2 garage spaces (approx. 23 x 20)
• Security: Security system
• Utilities: City water (connected)City sewer (connected)Natural gasElectric service by Connexus Energy
• Home design: Attached residential propertyTwo levelsMain level living area and kitchenSlab foundation
• Construction: Shingle roof replaced within last 8 yearsSlab foundationBuilt as part of an attached development
• Exterior features: Vinyl exteriorPatioPaved streetsAssociation-maintained roadsNo fencingNo poolLot dimensions E31 x 70

Interior

• Kitchen: Kitchen with center islandRangeMicrowaveRefrigeratorDishwasherDisposalStainless steel appliances
• Bedrooms: 4 bedrooms totalPrimary bedroom with private 3/4 bath and double sinkThree additional bedrooms on upper levelLoft area on upper level
• Bathrooms: Primary 3/4 bathUpper level full bathMain floor half bathDouble sink in primary bath
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Smart technologyAir-to-air exchangerHumidifierWater softener (owned)Exhaust fanElectric water heaterSecurity systemInformal dining areaKitchen/dining room layoutNo basementFireplace (electric) in living room
• Laundry & utility: In-unit laundry on upper levelWasher and dryer included

Price history

-2.8% since first listed

12 events — show timeline

• 2026-08-04 Listed $389,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-07-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-07-10 Price Changed $392,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-31 Price Changed $399,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $409,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-05 Sold (MLS) $401,540 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-04 Price Changed $399,990 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-19 Price Changed $403,175 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-19 Listed $401,175 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+105.8%/yr

Latest (2026): $3,665 · +105.8% YoY. Source: county tax records.