4528 415th Ave NE · Braham, MN 55006

$169,000

3 bd · 1.0 ba · 1,229 sqft · SingleFamily public records · 19 Days on market

Built 1920 1.32 ac lot ↓ 11% since listing

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Why this score? — see what drove the D+ 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 +11.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

Key facts

• New furnace
• New well pump
• Expansion tank

Tags

• NEW ROOF
• NEW FURNACE
• NEW A/C
• NEW WELL PUMP
• EXPANSION TANK
• ROOM FOR GARDENING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-68 ($-818/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (23.1% below list).
• Recommended offer: $130k (23.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#255 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Braham Public School District (rural): math 39% / reading 52% proficiency, ranked #170 of 301 in MN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 191 units permitted in Isanti County in 2024 (28 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Isanti County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000 (23.1% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.77% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.0%
• Equity multiple: 2.85×
• Total profit: $87,675
• Equity at exit: $152,249

10-year hold

• IRR: 20.6%
• Equity multiple: 6.53×
• Total profit: $261,553
• Equity at exit: $328,330

Cash invested: $47,320 (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 55006

• Home prices YoY: 13.6%
• Active inventory: 34
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$138 /mo · $1,662/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-68

Break-even live

Break-even rent $1,386

Max offer price $156,957

Occupancy floor —

Sensitivity live

Price	-10% $27	-5% $-20	+0% $-68	+5% $-116	+10% $-164
Rent	-10% $-171	-5% $-120	+0% $-68	+5% $-17	+10% $35
Rate	-1.0pp $17	-0.5pp $-25	base $-68	+0.5pp $-112	+1.0pp $-157

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 4th St SE Unit 2 Braham, MN	2.0	1.0	850	$1,300	$1.53	44d	1	0.65mi

Listing history 33 events

1. 2026-04-19
   status Pending
2. 2026-04-15
   historical Contingent - Inspection
3. 2026-04-11
   status Active
4. 2026-04-05
   historical Contingent - Inspection
5. 2026-03-31
   listed $169,000 Active
6. 2018-10-02
   soldstatus $153,500 Sold 314-char remark

   Show marketing remark (314 chars)

   Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

7. 2018-10-02
   soldstatus $153,500

   Show marketing remark (314 chars)

   Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

8. 2018-07-13
   status Pending 314-char remark

   Show marketing remark (314 chars)

   Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

9. 2018-07-11
   historical Contingent - Inspection 314-char remark

   Show marketing remark (314 chars)

   Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

10. 2018-06-28
    status Active 314-char remark

    Show marketing remark (314 chars)

    Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

11. 2018-06-26
    historical 314-char remark

    Show marketing remark (314 chars)

    Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

12. 2018-06-13
    historical Contingent - Inspection 314-char remark

    Show marketing remark (314 chars)

    Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

13. 2018-06-05
    listed $154,900 Active 314-char remark

    Show marketing remark (314 chars)

    Country Charmer with original Flooring, Staircase, wood trim throughout, and stained Glass Windows. Lots of character in this vintage home with its generous sized Kitchen, Living Room and Master Bedroom. Enjoy the Yard and Gardens off the Deck, Front Porch and the Red Barn nestled in this pretty rural setting.

14. 2017-07-25
    historical
15. 2017-06-21
    price $144,900
16. 2017-04-20
    price $149,900
17. 2017-02-11
    listed $155,000 Active
18. 2017-02-10
    historical
19. 2016-11-03
    status Active
20. 2016-10-18
    historical
21. 2016-09-17
    price $155,000
22. 2016-09-17
    listed $59,900 Active
23. 2013-12-26
    historical
24. 2013-12-19
    soldstatus $59,900 Sold
25. 2013-12-17
    status Pending
26. 2013-12-09
    historical Contingent - Inspection
27. 2013-09-26
    listed $59,900 Active
28. 2011-06-21
    soldstatus $54,900
29. 2011-04-16
    listed $54,900
30. 2008-08-29
    soldstatus $66,000
31. 2008-08-13
    historical
32. 2007-10-18
    listed $66,000
33. 2005-05-19
    soldstatus $190,000

ⓘ 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: $1,662 · $138/mo
• Projected year-2 tax: $1,777 · $148/mo
• Expected delta: +$115/yr (+$10/mo · 6.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$9,467
• − Property taxes: −$1,662
• − Insurance: −$845
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$4,916
• Taxable loss: −$3,786
• Est. tax savings @ 24.0%: +$909
• After-tax cash flow: $91/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: Braham Public School District
• NCES district ID: 2706060
• Math proficiency: 39% ▼ -21.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $53,333
• Composite: 39.32/100
• National rank: #3987
• State rank: #170 of 301 in MN

Livability — Braham

• Score: 73/100
• State rank: #255
• US rank: #5567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,655

Population outlook (Isanti County) Hauer SSP2

• Today (2025): 39,507 people
• By 2030: 39,545 · +0.1%
• By 2040: 38,556 · -2.4%
• By 2050: 35,837 · -9.3%
• By 2075: 27,423 · -30.6%
• By 2100: 18,928 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 12% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Isanti

• 2024 margin: Solid R (+41.2) · D 28.6% · R 69.8% · Other 1.6%
• 2008→2024 swing: -25.9pp toward R · 2008: -15.3pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+38.6 2016: R+38.2 2012: R+18.1 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.01%
• Current HPI: 367.554
• 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

-11.1% since first listed

33 events — show timeline

• 2026-04-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-11 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-02 Sold (Public Records) $153,500 Public Records
• 2018-10-02 Sold (MLS) $153,500 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-28 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-05 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-21 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-20 Price Changed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-11 Listed $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-17 Price Changed $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-17 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-19 Sold (MLS) $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2013-09-26 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-21 Sold (MLS) $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-16 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-29 Sold (MLS) $66,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-18 Listed $66,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-19 Sold (Public Records) $190,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,662 · -0.7% YoY. Source: county tax records.