15939 County Road 536 · Nashwauk, MN 55769

$99,500

2 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 528 Days on market

Built 1992 18 ac lot $84/sqft · 68% below area ↓ 22% 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).

• Cash flow +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing.

Key facts

• Lots of trees
• 18 acres of land
• Rural privacy

Tags

• 18 ACRES OF LAND
• LOTS OF TREES
• RURAL PRIVACY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#406 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.
• Nashwauk-Keewatin School District (rural): math 32% / reading 39% proficiency, ranked #253 of 301 in MN (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 528 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 528 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (median comp): $288,822
• List price: $99,500
• Delta: -65.55%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-4,350
• Equity at exit: $14,836

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $11,289
• Equity at exit: $8,603

Cash invested: $27,860 (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 55769

• Home prices YoY: -8.8%
• Active inventory: 28
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$50 /mo · $604/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $185

Break-even live

Break-even rent $777

Max offer price $99,500

Occupancy floor 77%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $99,500 Active 528 DOM
2. 2026-06-18
   days on market $99,500 Active 527 DOM
3. 2026-06-17
   days on market $99,500 Active 526 DOM
4. 2026-06-16
   days on market $99,500 Active 525 DOM
5. 2026-06-15
   days on market $99,500 Active 524 DOM
6. 2026-06-14
   days on market $99,500 Active 522 DOM
7. 2026-06-13
   days on market $99,500 Active 521 DOM
8. 2026-06-10
   days on market $99,500 Active 519 DOM
9. 2026-06-09
   days on market $99,500 Active 518 DOM
10. 2026-06-08
    days on market $99,500 Active 517 DOM
11. 2026-06-07
    days on market $99,500 Active 516 DOM
12. 2026-06-05
    days on market $99,500 Active 513 DOM
13. 2026-06-02
    days on market $99,500 Active 511 DOM
14. 2026-06-01
    days on market $99,500 Active 510 DOM
15. 2026-05-31
    days on market $99,500 Active 509 DOM
16. 2026-05-30
    days on market $99,500 Active 508 DOM
17. 2025-10-09
    listed $99,500 Active 552-char remark

    Show marketing remark (552 chars)

    This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing.

18. 2025-06-14
    status Active 652-char remark

    Show marketing remark (652 chars)

    This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing. Nice setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy.

19. 2025-06-14
    price $99,500 652-char remark

    Show marketing remark (652 chars)

    This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing. Nice setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy.

20. 2025-04-17
    historical Contingent - Subject to Financing 652-char remark

    Show marketing remark (652 chars)

    This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing. Nice setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy.

21. 2025-01-06
    listed $127,500 Active 652-char remark

    Show marketing remark (652 chars)

    This one has the potential to be a great home with a great setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy. It has a drilled well and a solid foundation on the main home, with the 16x16 addition on the left side needing a better footing. Currently has a wood stove and a gas furnace. The kitchen has lots of counter space and the Bathroom needs a good updating. This home will need a new septic that will need to be done after the sale. This property will not pass FHA or VA or Rural Development financing. Nice setting on a fixer-upper. Approximately 18 acres of land with lots of trees and rural privacy.

ⓘ 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: $604 · $50/mo
• Projected year-2 tax: $859 · $72/mo
• Expected delta: +$255/yr (+$21/mo · 42.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 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: $12,135
• − Mortgage interest: −$5,574
• − Property taxes: −$604
• − Insurance: −$498
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$2,895
• Taxable income: $624
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $2,074/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: Nashwauk-Keewatin School District
• NCES district ID: 2723310
• Math proficiency: 32% ▼ -13.00%
• Reading proficiency: 39% ▼ -11.00%
• Median HH income: $43,838
• Composite: 30.15/100
• National rank: #6326
• State rank: #253 of 301 in MN

Livability — Nashwauk

• Score: 68/100
• State rank: #406
• US rank: #9467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,520

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Portuguese 12% Lithuanian 5% Romanian 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.26%
• Current HPI: 168.6584
• 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

-22.0% since first listed

5 events — show timeline

• 2025-10-09 Listed $99,500 RAOR
• 2025-06-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-14 Price Changed $99,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-06 Listed $127,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2026): $604 · +8.2% YoY. Source: county tax records.