300 Ash Ave NE · St. Michael, MN 55376

$350,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 3 Days on market

Built 1969 10,367 sqft lot $306/sqft · 70% above area Est $401k · 13% under

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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).

• ARV discount +13.3/15.0
• Cash flow +9.7/30.0
• Schools +5.8/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1969

Property features AI

Finance

• Other: Lot approximately 0.238 acre (dimensions ~120 x 40)
• Financial info: FHA financing indicated

Exterior

• Parking: Attached heated garage with garage door opener; Gravel and asphalt driveway/parking; 2-car garage (approximately 23.1 x 25.6)
• Utilities: City water; City sewer; Natural gas service; Electric service with circuit breakers (60A and 100A listed); Xcel Energy power provider
• Home design: Residential single-story home (one level with finished lower level); Main floor primary bedroom; Property faces unspecified direction
• Construction: Block foundation; Asphalt shingle pitched roof (age 8 years or less); Built with typical residential construction materials
• Exterior features: Deck; Full chain-link fence; Street with curbs, paved streets, sidewalks and street lights

Interior

• Kitchen: Range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms (main floor primary; 3 bedrooms on one level)
• Flooring: Hardwood floors
• Bathrooms: Main floor full bath; Basement 3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Hardwood floors; Finished lower level with daylight/lookout windows and egress windows; Drain-tiled basement with sump pump; Humidifier; Water softener (owned); Kitchen window; Informal dining area / eat-in kitchen with breakfast bar
• Laundry & utility: Laundry in basement; Gas dryer hookup; Laundry sink; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-229 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (27.3% below list).
• Recommended offer: $254k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.2% in St. Michael — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Michael-Albertville School District (rural): math 62% / reading 66% proficiency, ranked #17 of 301 in MN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Big Woods Elementary (math 71% / reading 66%, grade B+, #91 of 857 statewide, top 11%, 660 students, 16% FRL); St. Michael-Albertville Middle West (math 55% / reading 62%, grade B, #29 of 258 statewide, top 12%, 1,047 students, 21% FRL); St. Michael-Albertville Senior High (math 60% / reading 71%, grade B, #27 of 471 statewide, top 6%, 2,240 students, 17% FRL).
• Market conditions: 356 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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.
• Current owner paid $300k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $254,361 (27.3% 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 1969 — 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: 0.73% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.81%
• DSCR: 0.88
• GRM: 11.5

CMA / ARV

• ARV (median comp): $401,318
• List price: $350,000
• Delta: -12.79%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.0%
• Equity multiple: 0.27×
• Total profit: $-71,382
• Equity at exit: $52,186

10-year hold

• IRR: -14.5%
• Equity multiple: 0.17×
• Total profit: $-81,245
• Equity at exit: $30,262

Cash invested: $98,000 (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 55376

• Home prices YoY: -30.4%
• Active inventory: 356
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,544 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$257 /mo · $3,088/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $-229

Break-even live

Break-even rent $2,834

Max offer price $309,519

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-130	+0% $-229	+5% $-328	+10% $-427
Rent	-10% $-430	-5% $-330	+0% $-229	+5% $-129	+10% $-28
Rate	-1.0pp $-53	-0.5pp $-140	base $-229	+0.5pp $-320	+1.0pp $-412

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11910 Town Center Dr NE Saint Michael, MN	3.0	1.0–2.0	912	$2,364	$2.59	0d	8	0.59mi
11811 Frankfort Pkwy NE Saint Michael, MN	3.0	1.0–2.0	1017	$2,500	$2.46	0d	13	0.66mi
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$3,269	$1.58	0d	7	1.00mi

Listing history 14 events

1. 2026-05-18
   status Pending 1302-char remark
2. 2026-05-15
   listed $350,000 Active 1302-char remark
3. 2026-05-13
   historical $350,000 1302-char remark
4. 2022-03-04
   soldstatus $300,000
5. 2022-02-24
   soldstatus $300,000 Sold 529-char remark

   Show marketing remark (529 chars)

   Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

6. 2022-02-03
   price $2,090
7. 2022-01-20
   status Pending 529-char remark

   Show marketing remark (529 chars)

   Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

8. 2022-01-13
   historical Contingent - Inspection 529-char remark

   Show marketing remark (529 chars)

   Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

9. 2022-01-07
   listed $300,000 Active 529-char remark

   Show marketing remark (529 chars)

   Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

10. 2022-01-04
    historical $300,000 529-char remark

    Show marketing remark (529 chars)

    Right in the heart of Saint Michael, this 3 bedroom rambler has beautiful hardwood floors and updated kitchen with granite countertops and white cabinets . Enjoy the large heated 2 car garage. Ready to move right in with a new roof, new water heater, owned water softener and newer washer and dryer. Large family room in the basement perfect for movies. Extra space can be finished in the basement to add bedroom, office or workout room. Great location near shopping, restaurants and city park. Sought after STMA School District.

11. 2009-10-20
    soldstatus $129,000

    Show marketing remark (53 chars)

    Nice one story home close to everything. Corner lot.

12. 2009-09-11
    historical

    Show marketing remark (53 chars)

    Nice one story home close to everything. Corner lot.

13. 2009-08-10
    listed $129,000

    Show marketing remark (53 chars)

    Nice one story home close to everything. Corner lot.

14. 2000-06-23
    soldstatus $128,000

ⓘ 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: $3,088 · $257/mo
• Projected year-2 tax: $3,504 · $292/mo
• Expected delta: +$416/yr (+$35/mo · 13.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,523
• − Mortgage interest: −$19,605
• − Property taxes: −$3,088
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,442
• − Management: −$2,442
• − Depreciation: −$10,182
• Taxable loss: −$8,986
• Est. tax savings @ 24.0%: +$2,157
• After-tax cash flow: $-593/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: St. Michael-Albertville School District
• NCES district ID: 2733790
• Math proficiency: 62% ▼ -13.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $86,897
• Composite: 57.91/100
• National rank: #1042
• State rank: #17 of 301 in MN

Livability — St. Michael

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Michael, MN
• County: Wright County · 79,164 people
• City population: 19,317
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 20,106
• Household income: $131,266
• Rent vs Own: 9.3% rent · 90.7% own
• Severe rent burden: 132.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Portuguese 13% Romanian 5% Lithuanian 4%
• Foreign-born: 4% · Canada, South Korea, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.03%
• Current HPI: 229.5977
• Rent YoY: —
• 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

+173.4% since first listed

14 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-04 Sold (Public Records) $300,000 Public Records
• 2022-02-24 Sold (MLS) $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-03 Price Changed $2,090 RENT.
• 2022-01-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-07 Listed $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-04 Coming Soon $300,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-20 Sold (MLS) $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-10 Listed $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-06-23 Sold (Public Records) $128,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,088 · +11.7% YoY. Source: county tax records.