106 Deerwood Dr · Gilbert, MN 55741

$179,900

3 bd · 2.0 ba · 1,210 sqft · SingleFamily · 133 Days on market

Built 2001 10,497 sqft lot Est $128k · 40% over $60/mo HOA · 5% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Spacious 1400sq feet 3BR/2BA home. This one level home features a large kitchen with center island and lots of cupboards, spacious living room with wood burning fireplace and built in shelves. Master bedroom suite with garden tub and separate shower. Mud room/entry way with laundry located off the garage access. Large 23 x 32 attached garage.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2001

Property features AI

Finance

• HOA & community: Rock-N-Pines Estates HOA; Monthly HOA fee $60 (includes snow removal)

Exterior

• Parking: Attached heated garage; 2 garage spaces; 1 carport space
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential single-story home; One level; Above-grade finished area 1,210 (main level)
• Construction: Shingle roof (8 years old or newer); Foundation: Other (foundation area 1,210; dimensions approx. 30 x 38)
• Exterior features: Vinyl exterior; Irregular-shaped lot; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Main-level primary bedroom (13 x 13); Main-level bedroom (9.5 x 11); Main-level bedroom (9.5 x 10)
• Bathrooms: Two full bathrooms; Main-floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Wood-burning fireplace; Crawl space basement; 3 bedrooms all on one level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-318 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (31.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (36.7% below list).
• Recommended offer: $114k (36.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#704 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools D-.
• Market conditions: 26 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $180k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $113,906 (36.7% 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. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 4.17%
• Cash-on-cash: -7.58%
• DSCR: 0.66
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $128,260
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Boulder Blvd	0.08mi	2/1.5 (-1)	1,232 (+2%)	10mo	$162,000	$131	78
510 Broadway St S	0.58mi	3/2.0	1,232 (+2%)	1mo	$155,000	$126	69
107 W Louisiana Ave	0.53mi	2/1.0 (-1)	1,176 (-3%)	10mo	$125,000	$106	53
108 Louisiana Ave Ave W	0.56mi	2/2.0 (-1)	1,296 (+7%)	16mo	$138,000	$106	43
101 E Nebraska Ave	0.72mi	2/1.0 (-1)	1,358 (+12%)	6mo	$115,000	$85	32
106 New York Ave W	0.69mi	2/1.0 (-1)	1,047 (-14%)	13mo	$95,000	$91	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.54×
• Total profit: $77,704
• Equity at exit: $162,068

10-year hold

• IRR: 17.5%
• Equity multiple: 5.86×
• Total profit: $244,775
• Equity at exit: $349,506

Cash invested: $50,372 (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 55741

• Home prices YoY: 23.4%
• Active inventory: 26
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$140 /mo · $1,678/yr
• Insurance: −$75
• HOA: −$60
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-318

Break-even live

Break-even rent $1,542

Max offer price $123,662

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $60 · $720/yr

Listing history 29 events

1. 2026-06-18
   days on market $179,900 Active 133 DOM
2. 2026-06-17
   days on market $179,900 Active 132 DOM
3. 2026-06-16
   days on market $179,900 Active 131 DOM
4. 2026-06-15
   days on market $179,900 Active 130 DOM
5. 2026-06-14
   days on market $179,900 Active 128 DOM
6. 2026-06-13
   days on market $179,900 Active 127 DOM
7. 2026-06-10
   days on market $179,900 Active 125 DOM
8. 2026-06-09
   days on market $179,900 Active 124 DOM
9. 2026-06-08
   days on market $179,900 Active 123 DOM
10. 2026-06-07
    days on market $179,900 Active 122 DOM
11. 2026-06-05
    days on market $179,900 Active 119 DOM
12. 2026-06-03
    days on market $179,900 Active 118 DOM
13. 2026-06-02
    days on market $179,900 Active 117 DOM
14. 2026-06-01
    days on market $179,900 Active 116 DOM
15. 2026-05-31
    days on market $179,900 Active 115 DOM
16. 2026-05-30
    days on market $179,900 Active 114 DOM
17. 2026-05-06
    status Active
18. 2026-05-06
    price $179,900
19. 2026-05-02
    historical
20. 2026-01-31
    listed $189,900 Active
21. 2019-12-26
    soldstatus $99,900
22. 2019-12-20
    soldstatus $99,900 344-char remark

    Show marketing remark (344 chars)

    Spacious 1400sq feet 3BR/2BA home. This one level home features a large kitchen with center island and lots of cupboards, spacious living room with wood burning fireplace and built in shelves. Master bedroom suite with garden tub and separate shower. Mud room/entry way with laundry located off the garage access. Large 23 x 32 attached garage.

23. 2019-10-31
    listed $104,900 344-char remark

    Show marketing remark (344 chars)

    Spacious 1400sq feet 3BR/2BA home. This one level home features a large kitchen with center island and lots of cupboards, spacious living room with wood burning fireplace and built in shelves. Master bedroom suite with garden tub and separate shower. Mud room/entry way with laundry located off the garage access. Large 23 x 32 attached garage.

24. 2019-01-28
    soldstatus $80,000
25. 2019-01-18
    soldstatus $80,000 467-char remark

    Show marketing remark (467 chars)

    One level living! 3 bedroom, 2 bath home, on a corner lot with a 23x32 attached garage. Features include: eat-in-kitchen w/ an island, laminate floors, large windows & a dining area; spacious living room w/ a fireplace; master bedroom w/ a garden tub, shower and a walk-in closet; 2 additional bedrooms w/ a full bathroom; laundry/mud room of the garage entrance; an attached garage with a patio door to the back yard and a garage door opener. Don't miss out!

26. 2017-11-13
    listed $90,000 467-char remark

    Show marketing remark (467 chars)

    One level living! 3 bedroom, 2 bath home, on a corner lot with a 23x32 attached garage. Features include: eat-in-kitchen w/ an island, laminate floors, large windows & a dining area; spacious living room w/ a fireplace; master bedroom w/ a garden tub, shower and a walk-in closet; 2 additional bedrooms w/ a full bathroom; laundry/mud room of the garage entrance; an attached garage with a patio door to the back yard and a garage door opener. Don't miss out!

27. 2009-05-13
    listed $127,500
28. 2006-08-14
    soldstatus $115,500
29. 2002-06-03
    soldstatus $84,900

ⓘ 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: $1,678 · $140/mo
• Projected year-2 tax: $1,846 · $154/mo
• Expected delta: +$168/yr (+$14/mo · 10.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 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: $13,669
• − Mortgage interest: −$10,077
• − Property taxes: −$1,678
• − Insurance: −$900
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − HOA: −$720
• − Depreciation: −$5,233
• Taxable loss: −$7,126
• Est. tax savings @ 24.0%: +$1,710
• After-tax cash flow: $-2,110/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)

No district data.

Livability — Gilbert

• Score: 62/100
• State rank: #704
• US rank: #16952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, MN
• Population (ZIP): 2,933

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 58.57%
• Current HPI: 308.63
• 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

+111.9% since first listed

13 events — show timeline

• 2026-05-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-31 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-26 Sold (Public Records) $99,900 Public Records
• 2019-12-20 Sold (MLS) $99,900 RAOR
• 2019-10-31 Listed $104,900 RAOR
• 2019-01-28 Sold (Public Records) $80,000 Public Records
• 2019-01-18 Sold (MLS) $80,000 RAOR
• 2017-11-13 Listed $90,000 RAOR
• 2009-05-13 Listed $127,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-14 Sold (Public Records) $115,500 Public Records
• 2002-06-03 Sold (Public Records) $84,900 Public Records

Property tax history

-2.8%/yr

Latest (2025): $1,678 · -1.9% YoY. Source: county tax records.