13773 Glenwood Dr · Baxter, MN 56425

$285,000

3 bd · 3.0 ba · 1,300 sqft · SingleFamily public records · 10 Days on market

Built 1959 0.40 ac lot

---

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).

• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.5/10.0

Listing remarks

Well-maintained 3-bedroom, 2-bath home in Baxter featuring 2 bedrooms, 1 bath, and an office on the main level. Plus 1 bedroom, 1 bath, and a large family room on the lower level. Enjoy the easy flowing kitchen/dining room that leads to a generous living area. Relax outside with spacious front and back yards perfect for outdoor activities. Attached and detached garages provide plenty of room for vehicles, storage, and hobbies. Conveniently located near shopping, dining, and local amenities. Don't miss this great opportunity!

Key facts

• 0.4 acre lot
• 3 garage spots
• Built 1959

Property features AI

Exterior

• Parking: Attached garage (3-car, 36x24)
• Utilities: City water connected; City sewer connected; Natural gas; 100 amp electric service
• Home design: Residential property; One level; Above- and below-grade finished living areas
• Construction: Frame construction; Block foundation; Roof age 8 years or less; Foundation dimensions 40x26
• Exterior features: Light tree coverage; Garage(s); Storage shed; Wheelchair ramp(s); City street frontage (public maintained road); Lot approximately 0.4 acres (100x175)

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms (main and lower levels)
• Bathrooms: One full bath on main level; One three-quarter bath in basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partially finished basement with block foundation; Eat-in kitchen; Water filtration system; Water softener (owned); Exhaust fan
• Laundry & utility: Washer and dryer; Laundry room on lower level (9x14); Utility room in lower level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (34.6% below list).
• Recommended offer: $186k (34.6% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.7% in Baxter — 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 70/100 on livability (#339 in MN) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, employment A; Watch: health & safety C-, amenities F, commute F.
• Brainerd Public School District (town): math 49% / reading 58% proficiency, ranked #85 of 301 in MN (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 126 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,422 (34.6% 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 1959 — 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. Schools are A-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. 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?
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: 0.65% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.06%
• DSCR: 0.78
• GRM: 12.7

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $133,732
• Equity at exit: $256,751

10-year hold

• IRR: 18.8%
• Equity multiple: 6.14×
• Total profit: $410,519
• Equity at exit: $553,692

Cash invested: $79,800 (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 56425

• Home prices YoY: 5.7%
• Active inventory: 126
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,864 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$196 /mo · $2,348/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $-336

Break-even live

Break-even rent $2,290

Max offer price $225,599

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-256	+0% $-336	+5% $-417	+10% $-498
Rent	-10% $-484	-5% $-410	+0% $-336	+5% $-263	+10% $-189
Rate	-1.0pp $-193	-0.5pp $-264	base $-336	+0.5pp $-410	+1.0pp $-485

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $285,000 Active 10 DOM
2. 2026-06-19
   days on market $285,000 Active 8 DOM
3. 2026-06-18
   days on market $285,000 Active 7 DOM
4. 2026-06-17
   days on market $285,000 Active 6 DOM
5. 2026-06-16
   days on market $285,000 Active 5 DOM
6. 2026-06-15
   days on market $285,000 Active 4 DOM
7. 2026-06-14
   days on market $285,000 Active 2 DOM
8. 2026-06-12
   remarks 530-char remark
9. 2026-06-12
   listed $285,000 Active 1 DOM

ⓘ 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: $2,348 · $196/mo
• Projected year-2 tax: $2,770 · $231/mo
• Expected delta: +$422/yr (+$35/mo · 18.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $22,371
• − Mortgage interest: −$15,964
• − Property taxes: −$2,348
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$8,291
• Taxable loss: −$9,237
• Est. tax savings @ 24.0%: +$2,217
• After-tax cash flow: $-1,818/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: Brainerd Public School District
• NCES district ID: 2706090
• Math proficiency: 49% ▼ -13.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $49,059
• Composite: 45.57/100
• National rank: #2596
• State rank: #85 of 301 in MN

Livability — Baxter

• Score: 70/100
• State rank: #339
• US rank: #7794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baxter, MN
• County: Crow Wing County · 40,773 people
• City population: 8,932
• Metro: Brainerd, MN
• Population (ZIP): 8,932
• Household income: $70,740
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 408.0

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Portuguese 15% Lithuanian 6% Romanian 6%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.09%
• Current HPI: 205.2145
• Rent YoY: —
• Metro: Brainerd, MN
• 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

• 2026-06-12 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-09 Coming Soon $285,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2025): $2,348 · +4.9% YoY. Source: county tax records.