2067 Cornell Dr · Mounds View, MN 55112

$49,900

2 bd · 2.0 ba · 840 sqft · SingleFamily · 52 Days on market

Built 2003 Fair condition 3,825 sqft lot $59/sqft · 82% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable home in Colonial Village, ideally located in beautiful Moundsview! Residents enjoy easy access to major highways along with nearby shopping, dining, and everyday conveniences. This 2-bedroom, 2-bathroom home is ready for your fresh ideas and personal touches. Furnishings can be included if the buyer desires. The property also features a small shed for extra storage. If you're looking for a lifestyle community with great amenities in a convenient location, Colonial Village is the perfect place to call home. Buyers must be pre-approved prior to showings. All people that would be living in the home must pass a background check through Colonial Village office, cost is $25 per person

Key facts

• Great amenities
• Extra storage
• Convenient location

Tags

• EASY ACCESS TO MAJOR HIGHWAYS
• NEARBY SHOPPING
• NEARBY DINING
• EXTRA STORAGE
• GREAT AMENITIES
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Lot approximately 45 x 85 (3,825 sq ft)
• Financial info: Monthly land lease amount: $1,050
• HOA & community: Land is leased (land lease fee applies)

Exterior

• Parking: Asphalt parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Manufactured home; One story
• Construction: Foundation area: 1 (unit); Above-grade finished area 840
• Exterior features: Vinyl exterior; Deck; Porch; No fencing listed

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms (including a full primary with private bath and a main floor full bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Electric fireplace; Eat-in kitchen; No basement
• Laundry & utility: Washer hookup; Dryer

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$276,503) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $937 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.8% vs local median 3.1% in Mounds View — 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 82/100 on livability (#44 in MN, #1,223 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A; Watch: amenities F.
• Mounds View Public School District (suburban): math 58% / reading 64% proficiency, ranked #30 of 301 in MN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.1%/yr); 168 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.25% ✓
• Cap rate: 28.82%
• Cash-on-cash: 80.46%
• DSCR: 4.58
• GRM: 2.6

CMA / ARV

• ARV (median comp): $276,503
• List price: $49,900
• Delta: -81.95%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.07% rent growth · sell at horizon

5-year hold

• IRR: 81.9%
• Equity multiple: 4.82×
• Total profit: $53,367
• Equity at exit: $7,440

10-year hold

• IRR: 85.5%
• Equity multiple: 10.36×
• Total profit: $130,799
• Equity at exit: $4,314

Cash invested: $13,972 (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 55112

• Rents YoY: 4.1%
• Active inventory: 168
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $937

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 37%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5891 Rice Creek Pkwy Shoreview, MN	1.0–2.0	1.0–2.0	926	$2,251	$2.43	1d	18	0.32mi
2300 County Road I Saint Paul, MN	1.0–2.0	1.0	950	$1,497	$1.58	10d	15	0.61mi
7635 Greenfield Ave St Paul, MN	1.0–2.0	1.0	925	$1,600	$1.73	43d	1	0.79mi
7501 Greenfield Ave Saint Paul, MN	2.0	1.0	900	$1,497	$1.66	24d	1	0.86mi
7639 Woodlawn Dr New Brighton, MN	1.0–2.0	1.0	900	$1,475	$1.64	43d	1	0.93mi
7664 Woodlawn Dr Unit 5 Mounds View, MN	2.0	1.0	900	$1,300	$1.44	43d	1	0.97mi
1556 Hillview Rd Saint Paul, MN	2.0	1.0	1000	$1,800	$1.80	43d	1	1.07mi
2651 Mounds View Blvd Unit 2665308 Mounds View, MN	2.0	1.0	861	$1,350	$1.57	43d	1	1.24mi
2659 County Road H2 Mounds View, MN	1.0–2.0	1.0	825	$1,489	$1.80	4d	5	1.40mi

Listing history 15 events

1. 2026-06-18
   days on market $49,900 Active 52 DOM
2. 2026-06-17
   days on market $49,900 Active 51 DOM
3. 2026-06-16
   days on market $49,900 Active 50 DOM
4. 2026-06-15
   days on market $49,900 Active 49 DOM
5. 2026-06-13
   days on market $49,900 Active 47 DOM
6. 2026-06-13
   days on market $49,900 Active 46 DOM
7. 2026-06-09
   days on market $49,900 Active 43 DOM
8. 2026-06-08
   days on market $49,900 Active 42 DOM
9. 2026-06-07
   days on market $49,900 Active 41 DOM
10. 2026-06-04
    days on market $49,900 Active 38 DOM
11. 2026-06-03
    days on market $49,900 Active 37 DOM
12. 2026-06-02
    days on market $49,900 Active 36 DOM
13. 2026-06-01
    days on market $49,900 Active 35 DOM
14. 2026-05-31
    days on market $49,900 Active 34 DOM
15. 2026-04-27
    listed $49,900 Active 701-char remark

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,468
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$1,452
• Taxable income: $11,108
• Est. tax owed @ 24.0%: −$2,666
• After-tax cash flow: $8,575/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathrooms, and improve the interior walls. It has a good exterior and foundation, making it a good candidate for a moderate renovation.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate interior walls — wallpaper in dining area

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance
• Both Replace kitchen cabinets, countertops, and appliances — These updates will significantly improve the home's functionality and appeal
• Both Replace bathroom fixtures — New fixtures will enhance the home's functionality and appeal
• Both Landscaping and curb appeal — A well-maintained exterior can greatly enhance the home's curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
interior walls · wallpaper in dining area	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance ↑
• Both Replace kitchen cabinets, countertops, and appliances — These updates will significantly improve the home's functionality and appeal ↑
• Both Replace bathroom fixtures — New fixtures will enhance the home's functionality and appeal ↑
• Both Landscaping and curb appeal — A well-maintained exterior can greatly enhance the home's curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mounds View Public School District
• NCES district ID: 2722950
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $72,492
• Composite: 54.04/100
• National rank: #1390
• State rank: #30 of 301 in MN

Livability — Mounds View

• Score: 82/100
• State rank: #44
• US rank: #1223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mounds View, MN
• County: Ramsey County · 542,837 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,346
• Household income: $93,838
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1134.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 9% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Romanian 5% Scottish 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 6% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -312.77%
• Current HPI: 254.5083
• Rent YoY: ▲ 4.07%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

1 event — show timeline

• 2026-04-27 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid