1625 Superior Shrs Unit 75A · Two Harbors, MN 55616

$109,900

2 bd · 2.0 ba · 1,332 sqft · Condo · 4 Days on market

Built 1993 Good condition $85/mo HOA · 7% of rent

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Interval ownership of a two-bedroom plus loft lakehome at Superior Shores Resort. Enjoy 6 - 7 weeks every year on Minnesota's North Shore. This spectacular unit features a stone fireplace, vaulted ceilings, hardwood floors, air-conditioning, large deck and one of the best views on the property - sitting on the tip of the point in Building 7! Housekeeping, laundry and maintenance services provided by management company. All exterior maintenance services provided by property manager. Enjoy six or seven weeks each year on the North Shore without the hassle of mowing, shoveling, painting, cleaning, etc. This property situated on 46 wooded acres with over a half-mile of shoreline can be yours. R

Key facts

• Large deck
• Stone fireplace
• Vaulted ceilings

Tags

• STONE FIREPLACE
• VAULTED CEILINGS
• HARDWOOD FLOORS
• LARGE DECK
• OVER A HALF-MILE OF SHORELINE
• HIKING TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 81/100 on livability (#62 in MN, #1,444 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lake Superior Public School District (rural): math 34% / reading 53% proficiency, ranked #191 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 81 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

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

Recommended offer $109,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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 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: 1.14% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-8,507
• Equity at exit: $16,386

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $4,767
• Equity at exit: $9,502

Cash invested: $30,772 (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 55616

• Active inventory: 83
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,252 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$85
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $145

Break-even live

Break-even rent $1,069

Max offer price $109,900

Occupancy floor 83%

Sensitivity live

Price	-10% $221	-5% $183	+0% $145	+5% $107	+10% $69
Rent	-10% $46	-5% $95	+0% $145	+5% $194	+10% $244
Rate	-1.0pp $200	-0.5pp $173	base $145	+0.5pp $116	+1.0pp $87

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $85 · $1,020/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-24
   status Pending
2. 2026-04-20
   listed $109,900 Active

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥88°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: $15,029
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − HOA: −$1,020
• − Depreciation: −$3,197
• Taxable income: $53
• Est. tax owed @ 24.0%: −$13
• After-tax cash flow: $1,726/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 · 13 photos

Good 75/100 Cosmetic rehab

This two-bedroom plus loft lakehome at Superior Shores Resort is in good condition with minimal repairs needed. Painting the exterior siding and upgrading the HVAC system would significantly increase its resale and rental value.

Value-add opportunities

• Resale Painting the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and resale value of the property.
• Rental Upgrading the HVAC system — A modern, energy-efficient HVAC system can attract tenants and improve rental income.
• Both Landscaping improvements — Enhancing the landscaping can improve both the resale and rental value by making the property more attractive.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and resale value of the property. ↑
• Rental Upgrading the HVAC system — A modern, energy-efficient HVAC system can attract tenants and improve rental income. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve both the resale and rental value by making the property more attractive. ↑

ⓘ 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: Lake Superior Public School District
• NCES district ID: 2740740
• Math proficiency: 34% ▼ -24.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $51,958
• Composite: 37.51/100
• National rank: #4399
• State rank: #191 of 301 in MN

Livability — Two Harbors

• Score: 81/100
• State rank: #62
• US rank: #1444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,277

Population outlook (Lake County) Hauer SSP2

• Today (2025): 9,943 people
• By 2030: 9,437 · -5.1%
• By 2040: 8,326 · -16.3%
• By 2050: 7,365 · -25.9%
• By 2075: 6,008 · -39.6%
• By 2100: 5,038 · -49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 18% Scottish 4% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 51.0% · R 47.1% · Other 1.9%
• 2008→2024 swing: -18.2pp toward R · 2008: 22.1pp · 2024: 3.9pp
• All cycles: 2024: D+3.9 2020: D+3.5 2016: D+2.2 2012: D+21.1 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.94%
• Current HPI: 182.619
• 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

2 events — show timeline

• 2026-04-24 Pending — LSAR
• 2026-04-20 Listed $109,900 LSAR