378 Hillcrest Cir · Clarks Grove, MN 56016

$99,900

3 bd · 1.0 ba · 1,076 sqft · Manufactured public records · 233 Days on market

Built 2025 $93/sqft · 18% above area Est $90k · 11% over

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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 +21.9/30.0
• Appreciation +7.6/10.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 Months of free lot rent! Step into modern comfort with this brand-new 3-bedroom, 2-bath Schult built, Ramsey 207-1 manufactured home. Offering 1,140 finished square feet of stylish living space. The open-concept floor plan features a bright living area, a contemporary kitchen with quality finishes, and spacious primary suite with private bath. Two additional bedrooms provide flexibility for guests, an office, or hobbies. Located in a well-managed resident-owned cooperative, this home offers the rare combination of affordable living and community pride of ownership. Enjoy a peaceful setting with well-kept surroundings. Move-in ready and built for today’s lifestyle—don’t miss your chance to make this beautiful new home yours! This home qualifies for down payment assistance and up to a 30-year mortgage.

Key facts

• Built 2025
• Listed 233 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#615 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools F.
• Albert Lea Public School District (town): math 30% / reading 40% proficiency, ranked #258 of 301 in MN (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 16 units permitted in Freeborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($691 loan paydown + $5k appreciation (5.2% local appreciation)).
• Freeborn County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, 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 233 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $90,000
• List price: $99,900
• Delta: 11.00%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
378 Hillcrest Cir	0.00mi	3/2.0	1,150 (+7%)	0mo	$90,000	$78	84

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

Projected returns pro-forma

5.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 2.21×
• Total profit: $33,937
• Equity at exit: $57,541

10-year hold

• IRR: 18.9%
• Equity multiple: 4.35×
• Total profit: $93,575
• Equity at exit: $100,084

Cash invested: $27,972 (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 56016

• Home prices YoY: 2.4%
• Active inventory: 4
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $157

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 80%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-05
   status $99,900 Pending 233 DOM
2. 2026-06-03
   days on market $99,900 Active 233 DOM
3. 2026-06-02
   days on market $99,900 Active 232 DOM
4. 2026-06-01
   days on market $99,900 Active 231 DOM
5. 2026-05-31
   days on market $99,900 Active 230 DOM
6. 2026-05-30
   days on market $99,900 Active 229 DOM
7. 2025-10-13
   listed $99,900 Active 831-char remark

   Show marketing remark (831 chars)

   3 Months of free lot rent! Step into modern comfort with this brand-new 3-bedroom, 2-bath Schult built, Ramsey 207-1 manufactured home. Offering 1,140 finished square feet of stylish living space. The open-concept floor plan features a bright living area, a contemporary kitchen with quality finishes, and spacious primary suite with private bath. Two additional bedrooms provide flexibility for guests, an office, or hobbies. Located in a well-managed resident-owned cooperative, this home offers the rare combination of affordable living and community pride of ownership. Enjoy a peaceful setting with well-kept surroundings. Move-in ready and built for today’s lifestyle—don’t miss your chance to make this beautiful new home yours! This home qualifies for down payment assistance and up to a 30-year mortgage.

8. 2025-10-09
   historical $99,900 831-char remark

   Show marketing remark (831 chars)

   3 Months of free lot rent! Step into modern comfort with this brand-new 3-bedroom, 2-bath Schult built, Ramsey 207-1 manufactured home. Offering 1,140 finished square feet of stylish living space. The open-concept floor plan features a bright living area, a contemporary kitchen with quality finishes, and spacious primary suite with private bath. Two additional bedrooms provide flexibility for guests, an office, or hobbies. Located in a well-managed resident-owned cooperative, this home offers the rare combination of affordable living and community pride of ownership. Enjoy a peaceful setting with well-kept surroundings. Move-in ready and built for today’s lifestyle—don’t miss your chance to make this beautiful new home yours! This home qualifies for down payment assistance and up to a 30-year mortgage.

ⓘ 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 1/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,877
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,906
• Taxable income: $317
• Est. tax owed @ 24.0%: −$76
• After-tax cash flow: $1,812/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: Albert Lea Public School District
• NCES district ID: 2702970
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $42,776
• Composite: 29.62/100
• National rank: #6472
• State rank: #258 of 301 in MN

Livability — Clarks Grove

• Score: 64/100
• State rank: #615
• US rank: #14653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarks Grove, MN
• Population (ZIP): 991

Population outlook (Freeborn County) Hauer SSP2

• Today (2025): 29,680 people
• By 2030: 29,038 · -2.2%
• By 2040: 27,650 · -6.8%
• By 2050: 26,387 · -11.1%
• By 2075: 25,224 · -15.0%
• By 2100: 23,842 · -19.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 16% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 23% Iranian 6% Romanian 3%
• Foreign-born: 16% · Philippines, Canada
• Languages at home: 82% English-only · Other Asian/Pacific 16% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Freeborn

• 2024 margin: Strong R (+21.3) · D 38.7% · R 60.0% · Other 1.3%
• 2008→2024 swing: -38.5pp toward R · 2008: 17.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+16.0 2016: R+17.4 2012: D+14.2 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.15%
• Current HPI: 223.9794
• 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

+0.0% since first listed

2 events — show timeline

• 2025-10-13 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-09 Coming Soon $99,900 NORTHSTARMLS as Distributed by MLS Grid